# Goodwater Capital: portfolio, investments and team

> Goodwater Capital is a vc firm based in United States. 526 investments on record, 43 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/goodwater-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Goodwater Capital

Last cheque observed Sep 2026; 526 cheques on record.

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Deploying now New fund $5.0M, Feb 2025 VC firm

Pre-seed Seed Series A B-to-c B2C B2b2c

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Deploying now

**47%** of best year **43** **cheques in 12 months**, 526 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$4.1M** Rounds led **11 of 526** Sole investor **24 rounds** Mostly in **United States, 51%**

Pitch Goodwater Capital

## Goodwater Capital highlights

- 01 43 cheques in the last 12 months
- 02 Mostly Seed and Venture: 72% of its rounds
- 03 Sole investor in 24 rounds, median $1.3M

## What they do

> Filed 3 private fund offerings with the SEC, the most recent in 2022-10 From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO
- **Sectors:** B-to-c B2C B2b2c
- **Based in:** Burlingame, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **526 appearances**

- **2026** 33 rounds
- **Sept** **[Fever](https://millionrounds.com/company/fever)** Growth · SE **$250M** With 3 others
- **Aug** **[Wispr](https://millionrounds.com/company/wispr)** Series B · US · TechCrunch **$280M** With 23 others
- **Jul** **[Zepto](https://millionrounds.com/company/zepto)** IN · Inc42 **$105M** With 3 others
- **Jul** **[Yope](https://millionrounds.com/company/yope)** Seed · GB · TechCrunch **$12M** With 4 others
- **Jul** **[Boulder Care](https://millionrounds.com/company/boulder-care)** Grant · US **$1.8M** With 4 others
- **Jul** **[Badi](https://millionrounds.com/company/badi)** Growth · ES **$5.4M** With 4 others
- **Jul** **[Kaon](https://millionrounds.com/company/kaon)** Series B · US **$60M** With 4 others
- **Jul** **[Pure](https://millionrounds.com/company/pure)** Seed · US **$8.0M** With 3 others
- **Jun** **[Idilio](https://millionrounds.com/company/idilio)** Seed · US **$5.5M** With 2 others
- **Jun** **[Metal](https://millionrounds.com/company/metal)** Venture **Undisclosed** With 3 others
- **May** **[LemFi](https://millionrounds.com/company/lemfi)** Venture · CA **$53M** With 4 others
- **May** **[Contrario](https://millionrounds.com/company/contrario)** Seed · US **$500K** With 3 others
- **May** **[welevel](https://millionrounds.com/company/welevel)** Series A · DE **$8.5M** With 1 other
- **Apr** **[Slash Financial](https://millionrounds.com/company/slash-financial)** Series C · US · TechCrunch **$100M** With 4 others
- **Apr** **[Astor](https://millionrounds.com/company/astor)** Seed · US **$5.0M** With 3 others
- **Apr** **[Rork](https://millionrounds.com/company/rork)** Seed · US **$15M** With 4 others
- **Apr** **[Slash](https://millionrounds.com/company/slash)** Series C · SG **$41M** With 4 others
- **Mar** **[Mega](https://millionrounds.com/company/mega)** Series A · US · Ventureburn **$12M** *Led*
- **Mar** **[KAST](https://millionrounds.com/company/kast)** Series C · KY · QED Investors **$80M** With 4 others
- **Mar** **[Memebox](https://millionrounds.com/company/memebox)** Venture · US **$10M** With 4 others
- **Feb** **[Trace](https://millionrounds.com/company/trace)** Seed · GB · TechCrunch **$3.0M** With 7 others
- **Feb** **[Humand](https://millionrounds.com/company/humand)** Series A · AR · LatamList **$66M** *Led*
- **Feb** **[Tembo](https://millionrounds.com/company/tembo)** Growth · GB · Gresham House Ventures **$22M** With 6 others
- **Feb** **[Material Depot](https://millionrounds.com/company/material-depot)** Series A **$10M** With 1 other
- **Feb** **[Alinea](https://millionrounds.com/company/alinea)** Debt · US **$23M** With 3 others
- **Feb** **[Pluto.markets](https://millionrounds.com/company/pluto-markets)** Seed · DK **$6.0M** With 3 others
- **Feb** **[Midi Health](https://millionrounds.com/company/midi-health)** Series D · US **$100M** With 4 others
- **Jan** **[Level3 AI](https://millionrounds.com/company/level3-ai)** Seed · SG **$13M** With 3 others
- **Jan** **[Hupo](https://millionrounds.com/company/hupo)** Series A · SG **$10M** With 3 others
- **Jan** **[Billdr Pro](https://millionrounds.com/company/billdr-pro)** Seed · CA **$3.2M** With 4 others
- **Jan** **[LearnTube](https://millionrounds.com/company/learntube)** Venture **Undisclosed** With 1 other
- **Jan** **[Emobi](https://millionrounds.com/company/emobi)** Seed · US **$3.4M** With 4 others
- **Jan** **[Z League](https://millionrounds.com/company/z-league)** Venture · US **$21M** With 1 other
- **2025** 78 rounds
- **Dec** **[Bitstack](https://millionrounds.com/company/bitstack)** Series A · 13books Capital **$15M** With 7 others
- **Dec** **[Mental](https://millionrounds.com/company/mental)** Venture · US **$10M** Sole investor
- **Dec** **[Payhere](https://millionrounds.com/company/payhere)** Venture **$5.4M** With 3 others
- **Dec** **[RedotPay](https://millionrounds.com/company/redotpay)** Series B · HK **$107M** With 4 others
- **Dec** **[Revero](https://millionrounds.com/company/revero)** Crowdfunding · US **$1.3M** With 2 others
- **Nov** **[Examedi](https://millionrounds.com/company/examedi)** CL · LatamList **$750K** With 6 others
- **Nov** **[Poly](https://millionrounds.com/company/poly)** Seed · US **$8.0M** With 3 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 registration **3 named**

CC **Chi-Hua Chien** Managing Member of the General Partner. i Filing they signed

CM **Chihua Michael Chien** Managing Member i Form ADV

EJ **Eric J. Kim** Managing Member of the General Partner. i Filing they signed

We also hold **26** 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

**$5.4B** gross assets of its funds Oct 2026

**5+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Goodwater Capital, LLC
- **SEC number:** CRD 172576

New fund on file

**$5.0M**

raised in Feb 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$4.1M** the round, not its cheque Alone, median **$1.3M**

Led 11 of 526 rounds **2%**

- **Sole investor:** 24 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *191*
- Venture *137*
- Series A said *68*
- Pre-seed said *38*
- Series B said *23*
- Growth said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 186
- [Gaingels](https://millionrounds.com/fund/gaingels) 32
- [500 Global](https://millionrounds.com/fund/500-startups) 23
- [Techstars](https://millionrounds.com/fund/techstars) 23
- [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) 20
- [Soma Capital](https://millionrounds.com/fund/soma-capital) 19

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## Who they invest alongside

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

[**Y Combinator** Accelerator **186** rounds together](https://millionrounds.com/fund/y-combinator)[**Gaingels** Private equity **32** rounds together](https://millionrounds.com/fund/gaingels)[**500 Global** Angel **23** rounds together](https://millionrounds.com/fund/500-startups)[**Techstars** VC firm **23** rounds together](https://millionrounds.com/fund/techstars)[**Pioneer Fund** Private equity **20** rounds together](https://millionrounds.com/fund/pioneer-fund-2)[**Soma Capital** VC firm **19** rounds together](https://millionrounds.com/fund/soma-capital)[**Alumni Ventures** VC firm **18** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Global Founders Capital** VC firm **18** rounds together](https://millionrounds.com/fund/global-founders-capital)[**FJ Labs** VC firm **16** rounds together](https://millionrounds.com/fund/fj-labs)[**General Catalyst** VC firm **15** rounds together](https://millionrounds.com/fund/general-catalyst)[**Liquid 2 Ventures** VC firm **15** rounds together](https://millionrounds.com/fund/liquid-2-ventures)[**Unpopular Ventures** VC firm **14** rounds together](https://millionrounds.com/fund/unpopular-ventures)

## Recently backed

The latest companies Goodwater Capital put money into.

[**Zepto** $105M · Jul 2026](https://millionrounds.com/company/zepto)[**Boulder Care** $1.8M · Jul 2026](https://millionrounds.com/company/boulder-care)[**Badi** $5.4M · Jul 2026](https://millionrounds.com/company/badi)[**Kaon** $60M · Jul 2026](https://millionrounds.com/company/kaon)[**Pure** $8.0M · Jul 2026](https://millionrounds.com/company/pure)[**Contrario** $500K · May 2026](https://millionrounds.com/company/contrario)

## On podcasts

1 episode naming Goodwater Capital in the title, and 4 more that mention it.

- [StrictlyVC Download](https://millionrounds.com/podcasts/strictlyvc-download) 29 Jul 2023 · 46 min How to Invest $1 Billion in Consumer Tech, with Goodwater Capital Mentions [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital)[Chi-Hua Chien](https://millionrounds.com/person/chi-hua-chien)[Eric Kim](https://millionrounds.com/person/eric-kim) Apple Podcasts

### Mentioned in

- [Equity](https://millionrounds.com/podcasts/equity) 24 Jun 2026 · 43 min What if the AI giants are building the roads, not the destinations? Chi-Hua Chien thinks he knows who wins Apple Podcasts
- [StrictlyVC Download](https://millionrounds.com/podcasts/strictlyvc-download) 16 Jun 2026 · 44 min The return of the Consumer Gold Rush? What Chi-Hua Chien is betting on next Apple Podcasts
- [StrictlyVC Download](https://millionrounds.com/podcasts/strictlyvc-download) 14 Jan 2026 · 23 min Why VCs think consumer AI hasn't lived up to the hype Apple Podcasts
- [Venture Unlocked](https://millionrounds.com/podcasts/venture-unlocked) 26 Jan 2024 · 19 min Venture Unlocked Shorts: Why VC has gone mainstream and the parallels to private equity and hedge funds Apple PodcastsShow page

## Quick answers about Goodwater Capital

### What does Goodwater Capital invest in?

Goodwater Capital invests most often at Seed and Venture (72% of the rounds on record), in sectors such as B-to-c, B2C and B2b2c.

### How active is Goodwater Capital?

526 investments on record, 43 of them in the last 12 months, and it led 11. The most recent was in Sept 2026.

### What has Goodwater Capital invested in recently?

Its most recent investments on record: Fever (Growth, Sept 2026), Wispr (Series B, Aug 2026) and Zepto (Undisclosed round, Jul 2026).

### How big are Goodwater Capital's cheques?

The median round it joins is $4.1M.

### Does Goodwater Capital lead rounds?

Sometimes: it led 11 of its 526 investments on record (2%).

### Where does Goodwater Capital invest?

Most of the companies it backs are in the United States (51%), the United Kingdom (9%) and Singapore (9%).

### Is Goodwater Capital investing now?

Yes: it is actively investing, with 43 investments in the last 12 months.

### Who does Goodwater Capital invest alongside?

Most often Y Combinator (186 rounds together), Gaingels (32 rounds together) and 500 Global (23 rounds together).

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