# Keiretsu Capital: portfolio, investments and team

> Keiretsu Capital is a vc firm based in United States. 76 investments on record, 5 in the last 12 months, latest Sept 2026.

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

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

# Keiretsu Capital

Last cheque observed Sep 2026; 76 cheques on record.

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Deploying now New fund $7.7M, Dec 2025 VC firm

Seed Series A Series B Blockchain Real Estate Technology

Follow Keiretsu Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fkeiretsu-capital)

Deploying now

**50%** of best year **5** **cheques in 12 months**, 76 on record

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

Median round **$2.2M** Cheque size, as they say **$100K – $5.0M** Rounds led **0 of 76** Sole investor **18 rounds** Mostly in **United States, 85%**

Pitch Keiretsu Capital

## Keiretsu Capital highlights

- 01 5 cheques in the last 12 months
- 02 Mostly Venture and Seed: 73% of its rounds
- 03 Sole investor in 18 rounds, median $1.4M

## What they do

> Most Active VC In The US, Pitchbook 2021 From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $5.0M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Blockchain Real Estate Technology
- **Based in:** Seattle, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **76 appearances**

- **2026** 4 rounds
- **Sept** **[Lumoptik](https://millionrounds.com/company/lumoptik)** Venture · US **$1.5M** Sole investor
- **Sept** **[PittMoss](https://millionrounds.com/company/pittmoss)** Venture · US **$1.2M** With 2 others
- **Feb** **[Arbutus Medical](https://millionrounds.com/company/arbutus-medical)** Growth · CA · Firms' own news pages **$6.8M** With 7 others
- **Jan** **[Volan.ai](https://millionrounds.com/company/volan-ai)** Seed · US **$1.2M** Sole investor
- **2025** 6 rounds
- **Nov** **[Salarius Pharmaceuticals](https://millionrounds.com/company/salarius-pharmaceuticals)** US **$7.0M** With 2 others
- **Oct** **[Steelhead Composites](https://millionrounds.com/company/steelhead-composites)** Venture · US **$1.9M** With 2 others
- **Aug** **[Seneca Therapeutics](https://millionrounds.com/company/seneca-therapeutics)** Series B · US **$3.9M** Sole investor
- **Aug** **[Loopr AI](https://millionrounds.com/company/loopr-ai)** Seed · US **$5.4M** With 1 other
- **Jul** **[b.well Connected Health](https://millionrounds.com/company/b-well-connected-health)** Debt · US **$20M** With 3 others
- **Mar** **[Soteria Battery Innovation Group](https://millionrounds.com/company/soteria-battery-innovation-group)** Venture · US **Undisclosed** With 2 others
- **2024** 9 rounds
- **Nov** **[Inmedix](https://millionrounds.com/company/inmedix)** Venture · US **$720K** With 1 other
- **Oct** **[Virion Therapeutics](https://millionrounds.com/company/virion-therapeutics)** Venture · US **$95K** With 1 other
- **Oct** **[Vispera](https://millionrounds.com/company/vispera)** Venture · TR **$250K** With 2 others
- **Jul** **[Orion Biotechnology](https://millionrounds.com/company/orion-biotechnology)** Venture · CA **$6.8M** With 4 others
- **May** **[LumiThera](https://millionrounds.com/company/lumithera)** Venture · US **$2.4M** With 1 other
- **Mar** **[PittMoss](https://millionrounds.com/company/pittmoss)** Venture · US **Undisclosed** With 2 others
- **Mar** **[Pollen Systems](https://millionrounds.com/company/pollen-systems)** Series A · US **$2.4M** With 1 other
- **Mar** **[Another Tomorrow](https://millionrounds.com/company/another-tomorrow)** Series A · US **$2.0M** Sole investor
- **Jan** **[Turn Technologies](https://millionrounds.com/company/turn-technologies)** Venture · US **Undisclosed** With 3 others
- **2023** 15 rounds
- **Dec** **[Kokopelli Outdoor](https://millionrounds.com/company/kokopelli-outdoor)** Venture · US **$1.0M** With 1 other
- **Nov** **[Healionics](https://millionrounds.com/company/healionics)** Series A · US **$5.5M** With 2 others
- **Oct** **[EarthGrid PBC](https://millionrounds.com/company/earthgrid-pbc)** Seed · US **$27M** With 1 other
- **Oct** **[Sisu Global Health](https://millionrounds.com/company/sisu-global-health)** Seed · US **$100K** With 3 others
- **Jul** **[CurvaFix](https://millionrounds.com/company/curvafix)** Series C · US **$39M** With 2 others
- **Jun** **[Electric Playhouse](https://millionrounds.com/company/electric-playhouse)** Series B · US **$50K** Sole investor
- **May** **[Buoy](https://millionrounds.com/company/buoy)** Seed · US **$2.5M** With 2 others
- **May** **[Tenzr Health](https://millionrounds.com/company/tenzr-health)** Venture · CA **Undisclosed** With 4 others
- **Apr** **[Tend Health](https://millionrounds.com/company/tend-health)** Venture · NZ **Undisclosed** Sole investor
- **Apr** **[Stracker Solar](https://millionrounds.com/company/stracker-solar)** Venture · US **Undisclosed** Sole investor
- **Apr** **[Galen Robotics](https://millionrounds.com/company/galen-robotics)** Venture · US **Undisclosed** Sole investor
- **Feb** **[Joule Case](https://millionrounds.com/company/joule-case)** Crowdfunding · US **$2.2M** Sole investor
- **Feb** **[SpIntellx](https://millionrounds.com/company/spintellx)** Venture · US **Undisclosed** With 2 others
- **Jan** **[Epilogue Systems](https://millionrounds.com/company/epilogue-systems)** Venture · US **Undisclosed** With 1 other
- **Jan** **[OtoNexus Medical Technologies Inc.](https://millionrounds.com/company/otonexus-medical-technologies-inc)** Venture · US **$1.4M** With 4 others
- **2022** 13 rounds
- **Dec** **[DecisionNext](https://millionrounds.com/company/decisionnext)** Venture · US **Undisclosed** With 1 other
- **Dec** **[Beta Hatch](https://millionrounds.com/company/beta-hatch)** Venture · US **Undisclosed** With 2 others
- **Dec** **[ActX](https://millionrounds.com/company/actx)** Venture · US **$6.0M** With 1 other
- **Nov** **[Archax](https://millionrounds.com/company/archax)** Series A · GB · Firms' own news pages **$29M** With 7 others
- **Sept** **[React Mobile](https://millionrounds.com/company/react-mobile)** Venture · US **Undisclosed** Sole investor
- **Sept** **[HaptX](https://millionrounds.com/company/haptx)** Series B · US **$23M** With 2 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 **6 named**

AD **Alison Davis** Manager of the General Partner. i Filing they signed

BH **Barry Heninger** Managing Partner of Manager i Filing they signed

ML **Matthew Le Merle** Manager of the issuer's sole general partner i Filing they signed

ML **Matthew Lemerle** MANAGING MEMBER OF THE ISSUER'S MANAGER i Filing they signed

NM **Nathan McDonald** Manager of the issuer's sole general partner i Filing they signed

RW **Randy Williams** Manager of the issuer's sole general partner i Filing they signed

We also hold **15** 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 they claim to have backed

From their own portfolio page (on their website)

**32** of 60 we have independently watched raise

[Arovia](https://millionrounds.com/company/arovia)[Blazebioscience](https://millionrounds.com/company/blaze-bioscience)[Cleanfiber](https://millionrounds.com/company/cleanfiber)[Clics](https://millionrounds.com/company/clics)[Decisionnext](https://millionrounds.com/company/decisionnext)[Defunkify](https://millionrounds.com/company/defunkify)[Electricplayhouse](https://millionrounds.com/company/electric-playhouse)[Evconnect](https://millionrounds.com/company/ev-connect)[Evrysbio](https://millionrounds.com/company/evrys-bio)[Healionics](https://millionrounds.com/company/healionics)[Indigobiosciences](https://millionrounds.com/company/indigo-biosciences)[Joulecase](https://millionrounds.com/company/joule-case)[Lumithera](https://millionrounds.com/company/lumithera)[Missionbio](https://millionrounds.com/company/mission-bio)[Otonexus](https://millionrounds.com/company/otonexus)[Otosense](https://millionrounds.com/company/otosense)[Pathware](https://millionrounds.com/company/pathware)[Patterncomputer](https://millionrounds.com/company/pattern-computer)[Perkville](https://millionrounds.com/company/perkville)[Phyllombioproducts](https://millionrounds.com/company/phyllom-bio-products)[Phytelligence](https://millionrounds.com/company/phytelligence)[Picmonic](https://millionrounds.com/company/picmonic)[Pittmoss](https://millionrounds.com/company/pittmoss)[Pollensystems](https://millionrounds.com/company/pollen-systems)[Reelsonar](https://millionrounds.com/company/reelsonar)[Sisuglobal](https://millionrounds.com/company/sisu-global-health)[Transcribeme](https://millionrounds.com/company/transcribeme)[Turn](https://millionrounds.com/company/turn)[Ubiqd](https://millionrounds.com/company/ubiqd)[Unaliwear](https://millionrounds.com/company/unaliwear)[Viakoo](https://millionrounds.com/company/viakoo)[Vispera](https://millionrounds.com/company/vispera) 2020gene Alpine Alternacard American Webtech Analyzecorp Atrinpharma Audiience Clothing2 Coneandsteiner Femselect Hcn-inc Icanbwell Inreality Kiwico Kiwiforgmail Laurentpharma Linqto Lungpacer Newviewsurg Operativeexperience Piamedical Poweredbyelevation Realkey Sagemedic Salariuspharma Socialstandards Tiltingmotorworks Varidi and 2 more

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$7.7M**

raised in Dec 2025

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

## The cheque

Seed Series A Series B

Median round joined **$2.2M** the round, not its cheque Alone, median **$1.4M**

Led 0 of 76 rounds **0%**

- **Said size:** $100K – $5.0M
- **Sole investor:** 18 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Venture *37*
- Seed said *12*
- Series A said *10*
- Series B said *6*
- Crowdfunding *2*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Keiretsu Forum](https://millionrounds.com/fund/keiretsu-forum) 26
- [Tech Coast Angels](https://millionrounds.com/fund/tech-coast-angels) 7
- [National Science Foundation](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) 5
- [Innovation Works](https://millionrounds.com/fund/innovation-works) 4
- [Portfolia](https://millionrounds.com/fund/portfolia) 4
- [Ben Franklin Technology Partners](https://millionrounds.com/fund/ben-franklin-technology-partners) 3

**Pitching Keiretsu 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 Keiretsu Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Keiretsu Forum** Angel network **26** rounds together](https://millionrounds.com/fund/keiretsu-forum)[**Tech Coast Angels** VC firm **7** rounds together](https://millionrounds.com/fund/tech-coast-angels)[**National Science Foundation** Government **5** rounds together](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno)[**Innovation Works** Government **4** rounds together](https://millionrounds.com/fund/innovation-works)[**Portfolia** VC firm **4** rounds together](https://millionrounds.com/fund/portfolia)[**Ben Franklin Technology Partners** Government **3** rounds together](https://millionrounds.com/fund/ben-franklin-technology-partners)[**Rockies Venture Club** Angel network **3** rounds together](https://millionrounds.com/fund/rockies-venture-club)[**Techstars** VC firm **3** rounds together](https://millionrounds.com/fund/techstars)[**Ben Franklin Technology Partners of Southeastern Pennsylvania** Government **2** rounds together](https://millionrounds.com/fund/ben-franklin-techn)[**Capital Factory** VC firm **2** rounds together](https://millionrounds.com/fund/capital-factory)[**NetEase** Corporate VC **2** rounds together](https://millionrounds.com/fund/netease)[**Newchip Accelerator** Accelerator **2** rounds together](https://millionrounds.com/fund/newchip-accelerator)

## Recently backed

The latest companies Keiretsu Capital put money into.

[**Lumoptik** $1.5M · Sept 2026](https://millionrounds.com/company/lumoptik)[**PittMoss** $1.2M · Sept 2026](https://millionrounds.com/company/pittmoss)[**Volan.ai** $1.2M · Jan 2026](https://millionrounds.com/company/volan-ai)[**Salarius Pharmaceuticals** $7.0M · Nov 2025](https://millionrounds.com/company/salarius-pharmaceuticals)[**Steelhead Composites** $1.9M · Oct 2025](https://millionrounds.com/company/steelhead-composites)[**Loopr AI** $5.4M · Aug 2025](https://millionrounds.com/company/loopr-ai)

## Quick answers about Keiretsu Capital

### What does Keiretsu Capital invest in?

Keiretsu Capital invests most often at Venture and Seed (73% of the rounds on record), in sectors such as Blockchain, Real Estate and Technology.

### How active is Keiretsu Capital?

76 investments on record, 5 of them in the last 12 months. The most recent was in Sept 2026.

### What has Keiretsu Capital invested in recently?

Its most recent investments on record: Lumoptik (Venture, Sept 2026), PittMoss (Venture, Sept 2026) and Arbutus Medical (Growth, Feb 2026).

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

The median round it joins is $2.2M. It says it writes cheques of $100K to $5.0M.

### Does Keiretsu Capital lead rounds?

Rarely, if at all: none of its 76 investments on record names it as the lead.

### Where does Keiretsu Capital invest?

Most of the companies it backs are in the United States (85%) and Canada (8%).

### Is Keiretsu Capital investing now?

Yes: it is actively investing, with 5 investments in the last 12 months.

### Who does Keiretsu Capital invest alongside?

Most often Keiretsu Forum (26 rounds together), Tech Coast Angels (7 rounds together) and National Science Foundation (5 rounds together).

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