# Initialized Capital: portfolio, investments and team

> Initialized Capital is a vc firm based in United States. 229 investments on record, 17 in the last 12 months, latest Oct 2026.

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

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

# Initialized Capital

Last cheque observed Oct 2026; 229 cheques on record.

Email

Deploying now New fund $5.0M, Sept 2026 VC firm

Pre-seed Seed Series A Software SaaS Collaboration Tools

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Deploying now

**59%** of best year **17** **cheques in 12 months**, 229 on record

Since the last cheque **21** days **00** hrs **00** min **00** sec

Median round **$6.9M** Cheque size, as they say **$1.0M – $7.0M** Rounds led **13 of 229** Sole investor **11 rounds** Exits **2 from the portfolio** Mostly in **United States, 93%**

Pitch Initialized Capital

## Initialized Capital highlights

- 01 17 cheques in the last 12 months
- 02 Mostly Seed and Series A: 70% of its rounds
- 03 Sole investor in 11 rounds, median $4.5M
- 04 2 exits from the portfolio

## What they do

> We provide seed stage founders, from enterprise SaaS to sustainability, health to hard tech, artificial intelligence to infrastructure, consumer to crypto, with the tools to build companies and navigate the venture landscape. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $7.0M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Software SaaS Collaboration Tools
- **Based in:** San Francisco, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **229 appearances**

- **2026** 12 rounds
- **Oct** **[Sabi](https://millionrounds.com/company/sabi)** Seed · US · Trending Topics **$50M** With 6 others
- **Sept** **[Hop Aero](https://millionrounds.com/company/hop-aero)** Seed · US · Google News search **$11M** *Led*
- **Sept** **[Robocurve](https://millionrounds.com/company/robocurve)** Seed · US **$10M** With 3 others
- **Jul** **[Picogrid](https://millionrounds.com/company/picogrid)** Grant · US **$114K** With 4 others
- **Apr** **[10x Science](https://millionrounds.com/company/10x-science)** Venture · US **Undisclosed** With 1 other
- **Apr** **[Alien](https://millionrounds.com/company/alien)** Pre-seed · US **$7.1M** With 2 others
- **Apr** **[Valar Atomics](https://millionrounds.com/company/valar-atomics)** Series B · US · Ventureburn **$450M** With 4 others
- **Mar** **[Esper](https://millionrounds.com/company/esper)** Venture · US **Undisclosed** With 4 others
- **Feb** **[The Bland Company](https://millionrounds.com/company/the-bland-company)** Pre-seed · GB **$2.7M** With 4 others
- **Feb** **[Seamflow](https://millionrounds.com/company/seamflow)** Seed · US **$4.5M** With 3 others
- **Feb** **[AdQuick](https://millionrounds.com/company/adquick)** Venture · US **$20M** With 3 others
- **Jan** **[Picogrid](https://millionrounds.com/company/picogrid)** Venture · US **Undisclosed** With 3 others
- **2025** 29 rounds
- **Dec** **[PermitFlow](https://millionrounds.com/company/permitflow)** Series B · US · AlleyWatch **$54M** With 5 others
- **Dec** **[Feanix Biotechnologies](https://millionrounds.com/company/feanix-biotechnologies)** Seed · US **$5.3M** With 3 others
- **Dec** **[Guide Labs](https://millionrounds.com/company/guide-labs)** Seed · US **$9.0M** With 3 others
- **Dec** **[Crewline AI](https://millionrounds.com/company/crewline-ai)** Seed · US **$7.1M** With 1 other
- **Nov** **[Valar Atomics](https://millionrounds.com/company/valar-atomics)** Series A · US · TechStartups **$130M** With 9 others
- **Oct** **[Routefusion](https://millionrounds.com/company/routefusion)** Series A · US · Crunchbase News **$27M** With 5 others
- **Sept** **[DeepNight](https://millionrounds.com/company/deepnight)** Venture · US **Undisclosed** With 2 others
- **Sept** **[TiLT](https://millionrounds.com/company/tilt)** Seed · US **$7.1M** With 8 others
- **Aug** **[Garage](https://millionrounds.com/company/garage)** Series A · US · TechCrunch **$14M** With 5 others
- **Aug** **[Orbital Operations](https://millionrounds.com/company/orbital-operations)** Seed · US **$8.8M** With 5 others
- **Jul** **[Greptile](https://millionrounds.com/company/greptile)** Series A · US · TechCrunch **$30M** With 4 others
- **Jul** **[ZeroEntropy](https://millionrounds.com/company/zeroentropy)** Seed · US · TechCrunch **$4.2M** *Led*
- **Jul** **[Alix](https://millionrounds.com/company/alix)** Series A · US **$20M** With 4 others
- **Jun** **[Pano AI](https://millionrounds.com/company/pano-ai)** Series B · US · Startup Daily **$44M** With 8 others
- **Jun** **[ATOMS](https://millionrounds.com/company/atoms)** Pre-seed · EG · Disrupt Africa **$1.2M** With 5 others
- **Jun** **[Rosebud](https://millionrounds.com/company/rosebud)** Seed · US · TechCrunch **$6.0M** With 5 others
- **Jun** **[Digger](https://millionrounds.com/company/digger)** Seed · US **$3.6M** With 5 others
- **Jun** **[Handoff](https://millionrounds.com/company/handoff)** Venture · US **$5.8M** With 5 others
- **Apr** **[IUNU](https://millionrounds.com/company/iunu)** Series B · US **$20M** With 3 others
- **Apr** **[NoScrubs Laundry Delivery](https://millionrounds.com/company/noscrubs-laundry-delivery)** Pre-seed · US **$2.0M** Sole investor
- **Apr** **[Arena](https://millionrounds.com/company/arena)** Series B · US **$30M** With 3 others
- **Apr** **[Jupe](https://millionrounds.com/company/jupe)** Seed · US **$1.1M** With 5 others
- **Apr** **[Cofertility](https://millionrounds.com/company/cofertility)** Series A · US **$7.3M** With 2 others
- **Mar** **[Modulo Bio](https://millionrounds.com/company/modulo-bio)** Seed · US **$4.8M** With 4 others
- **Feb** **[Mindstate Design Labs](https://millionrounds.com/company/mindstate-design-labs)** Venture · US **Undisclosed** With 2 others
- **Feb** **[Lingo.dev](https://millionrounds.com/company/lingo-dev)** Seed · US **$4.2M** With 1 other
- **Feb** **[DeepNight](https://millionrounds.com/company/deepnight)** Seed · US **$5.5M** With 3 others
- **Jan** **[Spaceium](https://millionrounds.com/company/spaceium)** Seed · CA · TechCrunch **$6.3M** *Led*

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 **6 named**

AO **Alexis Ohanian** Executive Officer i Filing they signed

BG **Brett Gibson** Managing Member of the General Partner i Filing they signed

GT **Garry Tan** Executive Officer i Filing they signed

HT **Harjeet Taggar** Executive Officer i Filing they signed

LM **Livingston Miller** General Counsel and Chief Operating Officer i Form ADV

ML **Marinda Luk** Chief Financial Officer i Form ADV

We also hold **23** 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

**$3.1B** gross assets of its funds Oct 2026

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

- **Legal name:** Initialized Capital Management, LLC
- **SEC number:** CRD 170329

## Exits from the portfolio

Companies it backed that were later bought or listed **2 in all**

**[Eero](https://millionrounds.com/company/eero)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$97M** Feb 2019

**[Exec](https://millionrounds.com/company/exec)** Bought by Handy **Undisclosed** Jan 2014

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

New fund on file

**$5.0M**

raised in Sept 2026

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 **$6.9M** the round, not its cheque Alone, median **$4.5M**

Led 13 of 229 rounds **6%**

- **Said size:** $1.0M – $7.0M
- **Sole investor:** 11 rounds
- **Last cheque:** Oct 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Seed said *94*
- Series A said *46*
- Venture *32*
- Series B said *23*
- Pre-seed said *5*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 92
- [SV Angel](https://millionrounds.com/fund/sv-angel) 27
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 20
- [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) 15
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 14
- [Google Ventures](https://millionrounds.com/fund/gv) 13

**Pitching Initialized Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

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

[**Y Combinator** Accelerator **92** rounds together](https://millionrounds.com/fund/y-combinator)[**SV Angel** VC firm **27** rounds together](https://millionrounds.com/fund/sv-angel)[**Andreessen Horowitz** VC firm **20** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Liquid 2 Ventures** VC firm **15** rounds together](https://millionrounds.com/fund/liquid-2-ventures)[**Alumni Ventures** VC firm **14** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Google Ventures** Corporate VC **13** rounds together](https://millionrounds.com/fund/gv)[**Alexis Ohanian** Angel **11** rounds together](https://millionrounds.com/fund/alexis-ohanian)[**General Catalyst** VC firm **10** rounds together](https://millionrounds.com/fund/general-catalyst)[**Founders Fund** VC firm **8** rounds together](https://millionrounds.com/fund/founders-fund)[**FundersClub** VC firm **8** rounds together](https://millionrounds.com/fund/fundersclub)[**Pioneer Fund** Private equity **8** rounds together](https://millionrounds.com/fund/pioneer-fund-2)[**Garry Tan** Angel **7** rounds together](https://millionrounds.com/fund/garry-tan)

## Recently backed

The latest companies Initialized Capital put money into.

[**Sabi** $50M · Oct 2026](https://millionrounds.com/company/sabi)[**Robocurve** $10M · Sept 2026](https://millionrounds.com/company/robocurve)[**Picogrid** $114K · Jul 2026](https://millionrounds.com/company/picogrid)[**Alien** $7.1M · Apr 2026](https://millionrounds.com/company/alien)[**Valar Atomics** $450M · Apr 2026](https://millionrounds.com/company/valar-atomics)[**Seamflow** $4.5M · Feb 2026](https://millionrounds.com/company/seamflow)

## Quick answers about Initialized Capital

### What does Initialized Capital invest in?

Initialized Capital invests most often at Seed and Series A (70% of the rounds on record), in sectors such as Software, SaaS and Collaboration Tools.

### How active is Initialized Capital?

229 investments on record, 17 of them in the last 12 months, and it led 13. The most recent was in Oct 2026.

### What has Initialized Capital invested in recently?

Its most recent investments on record: Sabi (Seed, Oct 2026), Hop Aero (Seed, Sept 2026) and Robocurve (Seed, Sept 2026).

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

The median round it joins is $6.9M. It says it writes cheques of $1.0M to $7.0M.

### Does Initialized Capital lead rounds?

Sometimes: it led 13 of its 229 investments on record (6%).

### Where does Initialized Capital invest?

Most of the companies it backs are in the United States (93%).

### Is Initialized Capital investing now?

Yes: it is actively investing, with 17 investments in the last 12 months.

### Who does Initialized Capital invest alongside?

Most often Y Combinator (92 rounds together), SV Angel (27 rounds together) and Andreessen Horowitz (20 rounds together).

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