United States · Investor

M12

Last cheque observed Oct 2026; 300 cheques on record.

Deploying nowCorporate VC

SeedSeries ASeries BAI AppsSecurity For AIAI Cloud Infrastructure

Deploying now
100%of best year15cheques in 12 months, 300 on record
Since the last cheque18days00hrs00min00sec
Median round$30MCheque size, as they say$1.0M – $20MRounds led6 of 300Sole investor206 roundsExits13 from the portfolioMostly inUnited States, 85%
Pitch M12

M12 highlights

  1. 01

    15 cheques in the last 12 months

  2. 02

    Mostly Venture and Seed: 83% of its rounds

  3. 03

    Sole investor in 206 rounds, median $275K

  4. 04

    13 exits from the portfolio

What they do

M12 is Microsoft's venture capital fund. We invest in early-stage technology companies disrupting the enterprise.From their own website
Type
Corporate VC
Cheque size
$1.0M – $20M as they say
Stages
SeedSeries ASeries B
Sectors
AI AppsSecurity For AIAI Cloud Infrastructure
Based in
San Francisco, United States
Cold pitches
Not accepted

The record

Every round we can evidence, newest first300 appearances

  1. 2026

    15 rounds

  2. Oct
    Reach SecuritySeries B · US · Cheyenne Ventures$50MWith 4 others
  3. Oct
    Nous ResearchSeries B · US · Firms' own news pages$90MWith 6 others
  4. Sept
    ManticSeed · GB · TechStartups$25MWith 5 others
  5. Sept
    Arcee AISeries B · US · Ventureburn$150MWith 10 others
  6. Sept
    Stuut TechnologiesSeries B · US · Ventureburn$53MWith 7 others
  7. Sept
    Mecka AISeries B · BetaKit$60MWith 11 others
  8. Sept
    HiddenLayerSeries B · US · Ventureburn$100MWith 6 others
  9. May
    CinderSeries B · US · AlleyWatch$41MWith 7 others
  10. May
    VapiSeries B · US · TechCrunch$50MWith 6 others
  11. Apr
    nEye.aiSeries C · US · TechStartups$80MWith 5 others
  12. Mar
    Lace LithographySeries A · NO · TechStartups$40MWith 4 others
  13. Mar
    Knox SystemsSeries A · US · Ventureburn$25MWith 6 others
  14. Feb
    DideroSeries A · TechCrunch$30MWith 5 others
  15. Feb
    EntireSeed · TechCrunch$60MWith 8 others
  16. Jan
    NeurophosSeries A · US · Firms' own news pages$110MWith 15 others
  17. 2025

    2 rounds

  18. Apr
    Solve IntelligenceSeries A · US · TechCrunch$12MWith 3 others
  19. Jan
    InnovaccerSeries F · US · TechCrunch$275MWith 8 others
  20. 2024

    5 rounds

  21. Dec
    NuonSeries A · TechStartups$17MWith 10 others
  22. Dec
    EvincedSeries C · TechCrunch$55MWith 7 others
  23. Dec
    NeuBirdSeed · US · TechCrunch$23MLed
  24. Nov
    ConduktorSeries B · US · RTP Global$30MWith 5 others
  25. Oct
    RelyanceSeries B · US · TechCrunch$32MWith 4 others
  26. 2023

    1 round

  27. Mar
    HazySeries A · GB · UCL Technology Fund$9.0MWith 13 others
  28. 2019

    20 rounds

  29. Dec
    EvisortSeries A · US · FinSMEs$15MLed
  30. Nov
    BlueVineSeries F · Nocamels$103MWith 6 others
  31. Nov
    VolterraUS · FinSMEs$50MWith 6 others
  32. Sept
    Applied IntuitionUS · FinSMEs$40MWith 7 others
  33. Aug
    IncortaSeries C · US · FinSMEs$30MWith 5 others
  34. Jul
    FluroSatUS · Agfundernews$3.2MWith 4 others
  35. Jun
    AnyVisionSeries A · US · FinSMEs$74MWith 6 others
  36. Jun
    RapidAPISeries B · US · FinSMEs$25MLed
  37. May
    Unravel DataSeries C · US · FinSMEs$35MWith 4 others
  38. Apr
    OutreachSeries E · US · Outreach$114MWith 9 others
  39. Apr
    Aqua SecuritySeries C · US · FinSMEs$62MWith 4 others
  40. Apr
    OnfidoGB · FinSMEs$50MWith 2 others
  41. Mar
    PrevedereUS · Bizjournals$12MSole investor
  42. Mar
    SkeduloSeries B · US · FinSMEs$28MLed
  43. Mar
    WorkBoardSeries B · US · FinSMEs$23MWith 4 others
  44. Mar
    MarkForgedSeries D · US · FinSMEs$82MWith 4 others
  45. Mar
    GO1Series B · AU · Startup Daily$30MLed

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

We hold 27 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)

26 of 38 we have independently watched raise

1910geneticsAcertaAgoloAllstacksArceeArkoselabsArmadaAt-bayBeameryBluevineClearmotionCnexlabsCodeoceanCodeseeConduktorContrastsecurityCruxocmD-matrixDatologyaiDefinelyDeployedDirectlyEcomedesEderaEnv0EnvisagenicsAkaidentityAndorhealthAquasecArizeArtificialBlacksharkBolsterBuilderBytewaxCoolerscreensGetauctorTrydatabook

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.

Exits from the portfolio

Companies it backed that were later bought or listed13 in all

AppSheetBought by GoogleUndisclosedJan 2020
BonsaiBought by MicrosoftUndisclosedJun 2018
FrilpBought by FreshdeskUndisclosedOct 2015
GazemetrixBought by SysomosUndisclosedSept 2015
RevealBought by RhapsodyUndisclosedApr 2015
Airpost.ioBought by BoxUndisclosedFeb 2015
Pinion.ggBought by UnikrnUndisclosedFeb 2015
BookpadBought by Yahoo!UndisclosedSept 2014
AppetasBought by GoogleUndisclosedMay 2014
BuzzTableBought by CAKE CorporationUndisclosedDec 2013
BuzzTableBought by SyscoUndisclosedOct 2013
PlustxtBought by One97 Communications$2.0MAug 2013
//Staq.ioBought by PlayHavenUndisclosedJun 2013

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 M12. A count of rooms they were both in, not a relationship either has claimed.

Recently backed

The latest companies M12 put money into.

Quick answers about M12

What does M12 invest in?

M12 invests most often at Venture and Seed (83% of the rounds on record), in sectors such as AI Apps, Security For AI and AI Cloud Infrastructure.

How active is M12?

300 investments on record, 15 of them in the last 12 months, and it led 6. The most recent was in Oct 2026.

What has M12 invested in recently?

Its most recent investments on record: Reach Security (Series B, Oct 2026), Nous Research (Series B, Oct 2026) and Mantic (Seed, Sept 2026).

How big are M12's cheques?

The median round it joins is $30M. It says it writes cheques of $1.0M to $20M.

Does M12 lead rounds?

Sometimes: it led 6 of its 300 investments on record (2%).

Where does M12 invest?

Most of the companies it backs are in the United States (85%) and the United Kingdom (9%).

Is M12 investing now?

Yes: it is actively investing, with 15 investments in the last 12 months.

Who does M12 invest alongside?

Most often Microsoft Ventures Accelerator Seattle (8 rounds together), Microsoft (6 rounds together) and Lightspeed Venture Partners (5 rounds together).

Raising now?

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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