United States · Investor

Fuel Capital

Last cheque observed Jun 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

QuietNew fund $46M, Jul 2018VC firm

Pre-seedSeedSeries ARecurringInfraCollaboration Tools

Cheques on record
0%of best year0cheques in 12 months, 44 on record
Since the last cheque514days00hrs00min00sec
Median round$6.0MCheque size, as they say$500K – $1.0MRounds led1 of 44Exits2 from the portfolioMostly inUnited States, 100%
Pitch Fuel Capital

Fuel Capital highlights

  1. 01

    44 rounds on record

  2. 02

    Mostly Seed and Series A: 91% of its rounds

  3. 03

    Led 1 rounds

  4. 04

    2 exits from the portfolio

What they do

Fuel Capital is a seed stage venture capital firm investing in consumer, SaaS and infrastructure businesses.From their own website
Type
VC firm (from a list, unverified)
Cheque size
$500K – $1.0M as they say
Stages
Pre-seedSeedSeries ASeries BGrowthPre-IPO
Sectors
RecurringInfraCollaboration Tools
Based in
Burlingame, United States
Cold pitches
Not stated

The record

Every round we can evidence, newest first44 appearances

  1. 2025

    1 round

  2. Jun
    RosebudSeed · US · TechCrunch$6.0MWith 5 others
  3. 2019

    4 rounds

  4. Oct
    NatalistSeed · US · FinSMEs$5.0MWith 10 others
  5. Sept
    DriveTimeSeries A · US · FinSMEs$11MWith 8 others
  6. Aug
    TesorioSeries A · US · TechCrunch$10MWith 4 others
  7. Apr
    FuzzbuzzSeed · US · TechCrunch$2.7MLed
  8. 2017

    1 round

  9. Feb
    Privacy LabsSeed · US · TechCrunch$4.0MWith 3 others
  10. 2016

    1 round

  11. Sept
    CoreOS$28MWith 8 others
  12. 2015

    8 rounds

  13. Oct
    ConvoySeed · US$2.5MWith 18 others
  14. Jun
    KryptonCloudSeed · US$2.7MWith 3 others
  15. Jun
    Nervana SystemsSeries A · US$21MWith 8 others
  16. May
    SwapboxSeed · US$2.2MWith 4 others
  17. Apr
    CoreOSSeries A · US$12MWith 3 others
  18. Mar
    ClearbitSeed · US$2.0MWith 8 others
  19. Jan
    NylasSeries A · US$8.0MWith 4 others
  20. Jan
    InteranaSeries B · US$20MWith 6 others
  21. 2014

    17 rounds

  22. Dec
    MesosphereSeries B · US$36MWith 4 others
  23. Oct
    BoostableSeed · US$2.6MWith 15 others
  24. Oct
    LeadGeniusSeries A · US$6.0MWith 15 others
  25. Oct
    InteranaSeries A · US$8.2MWith 3 others
  26. Sept
    Code ClimateSeed · US$2.0MWith 4 others
  27. Aug
    Nervana SystemsSeries A · US$3.3MWith 3 others
  28. Aug
    OnBeepSeries A · US$6.3MWith 16 others
  29. Jul
    SecretSeries B · US$25MWith 6 others
  30. Jun
    CoreOSSeries A · US$8.0MWith 2 others
  31. Jun
    WeaveSeries A · US$5.0MWith 6 others
  32. Jun
    MesosphereSeries A · US$11MWith 2 others
  33. Jun
    Beep NetworksSeed · US$1.6MWith 7 others
  34. May
    LayerSeries A · US$15MWith 5 others
  35. Apr
    Last GuideSeed · US$2.1MWith 15 others
  36. Mar
    SecretSeries A · US$8.6MWith 17 others
  37. Jan
    MindieSeed · US$1.2MWith 12 others
  38. Jan
    FlexportSeed · US$6.9MWith 38 others
  39. 2013

    12 rounds

  40. Dec
    HightowerSeed · US$2.1MWith 13 others
  41. Dec
    SecretSeed · US · sec.gov$1.4MWith 11 others
  42. Dec
    SwapboxSeed · US · techcrunch.com$800KWith 4 others
  43. Oct
    FrontbackSeed · US · techcrunch.com$3.0MWith 11 others
  44. Oct
    LayerSeed · US · techcrunch.com$6.0MWith 8 others
  45. Oct
    CoreOSSeed · US · techcrunch.comUndisclosedWith 2 others
  46. Aug
    URXSeed · US · techcrunch.com$3.1MWith 31 others
  47. Aug
    WillCallSeed · US · techcrunch.com$1.2MWith 11 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration2 named

CHChristopher HowardManaging DirectoriFiling they signed
LBLeah BusqueManaging DirectoriFiling they signed

We also hold 5 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

What the register says

From the firm's own filings with the SEC, which it must file accurately by law

$230Mgross assets of its fundsOct 2026
Exemptreporting adviserventure or small private funds
Legal name
FUEL Capital Management Company, LLC
SEC number
CRD 171028

Exits from the portfolio

Companies it backed that were later bought or listed2 in all

CoreOSBought by Redhat$250MJan 2018
WillCallBought by TicketflyUndisclosedAug 2014

An exit counts when it came after the firm's first round in the company. From historical deal records.

Who they invest alongside

The investors most often in the same rounds as Fuel Capital. A count of rooms they were both in, not a relationship either has claimed.

SV AngelVC firm15rounds togetherAlexis OhanianAngel8rounds togetherDCVCVC firm7rounds togetherGarry TanAngel7rounds togetherGoogle VenturesCorporate VC7rounds togetherY CombinatorAccelerator7rounds togetherAndreessen HorowitzVC firm6rounds togetherCrunchFundVC firm6rounds togetherKleiner Perkins Caufield & ByersVC firm6rounds togetherAME Cloud VenturesVC firm5rounds togetherFundersClubVC firm5rounds togetherIndex VenturesVC firm5rounds together

Recently backed

The latest companies Fuel Capital put money into.

Rosebud$6.0M · Jun 2025Natalist$5.0M · Oct 2019DriveTime$11M · Sept 2019Tesorio$10M · Aug 2019Privacy Labs$4.0M · Feb 2017

On podcasts

2 episodes naming Fuel Capital in the title, and 2 more that mention it.

Mentioned in

Quick answers about Fuel Capital

What does Fuel Capital invest in?

Fuel Capital invests most often at Seed and Series A (91% of the rounds on record), in sectors such as Recurring, Infra and Collaboration Tools.

How active is Fuel Capital?

44 investments on record, 0 of them in the last 12 months, and it led 1. The most recent was in Jun 2025.

What has Fuel Capital invested in recently?

Its most recent investments on record: Rosebud (Seed, Jun 2025), Natalist (Seed, Oct 2019) and DriveTime (Series A, Sept 2019).

How big are Fuel Capital's cheques?

The median round it joins is $6.0M. It says it writes cheques of $500K to $1.0M.

Does Fuel Capital lead rounds?

Sometimes: it led 1 of its 44 investments on record (2%).

Where does Fuel Capital invest?

Most of the companies it backs are in the United States (100%).

Is Fuel Capital investing now?

No investments in the last 12 months; the latest was in Jun 2025.

Who does Fuel Capital invest alongside?

Most often SV Angel (15 rounds together), Alexis Ohanian (8 rounds together) and DCVC (7 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it