# Notation Capital: portfolio, investments and team

> Notation Capital is a vc firm based in United States. 31 investments on record, 3 in the last 12 months, latest Oct 2026.

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

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

# Notation Capital

Last cheque observed Oct 2026; 31 cheques on record.

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Deploying now New fund $965K, Jul 2021 VC firm

Pre-seed Seed Series A Hard Tech Infrastructure Product

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

Deploying now

**60%** of best year **3** **cheques in 12 months**, 31 on record

Since the last cheque **2** days **00** hrs **00** min **00** sec

Median round **$4.1M** Rounds led **0 of 31** Sole investor **4 rounds** Mostly in **United States, 97%**

Pitch Notation Capital

## Notation Capital highlights

- 01 3 cheques in the last 12 months
- 02 Mostly Seed and Series A: 73% of its rounds
- 03 Sole investor in 4 rounds, median $2.7M

## What they do

> The first dedicated 'pre-seed' fund in NYC, based in Brooklyn. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Up to $5.0M as they say
- **Stages:** Pre-seed Seed Series A
- **Sectors:** Hard Tech Infrastructure Product
- **Based in:** Brooklyn, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **31 appearances**

- **2026** 2 rounds
- **Oct** **[ShareWillow](https://millionrounds.com/company/sharewillow)** Seed · US · AlleyWatch **$8.5M** With 7 others
- **May** **[aethelnode](https://millionrounds.com/company/aethelnode)** Seed · US **$2.8M** Sole investor
- **2025** 3 rounds
- **Dec** **[REMOFVEULAR](https://millionrounds.com/company/remofveular)** Seed · US **$2.6M** Sole investor
- **Jul** **[Mesotaceous](https://millionrounds.com/company/mesotaceous)** Seed · US **$2.3M** Sole investor
- **Jan** **[NOAT](https://millionrounds.com/company/noat)** Seed · US **$7.0M** With 3 others
- **2024** 4 rounds
- **Dec** **[IP Copilot](https://millionrounds.com/company/ip-copilot)** Seed · US **$4.2M** With 2 others
- **Jul** **[QA Wolf](https://millionrounds.com/company/qa-wolf)** Series B · US **$36M** With 4 others
- **Apr** **[Station70](https://millionrounds.com/company/station70)** Seed · US **$5.0M** With 1 other
- **Feb** **[Shuttle](https://millionrounds.com/company/shuttle)** Venture · US **Undisclosed** With 2 others
- **2023** 5 rounds
- **Aug** **[Grapevine](https://millionrounds.com/company/grapevine)** Seed · US **$1.7M** With 2 others
- **Aug** **[Wand App](https://millionrounds.com/company/wand-app)** Seed · US **$4.2M** With 4 others
- **Jun** **[Field Complete](https://millionrounds.com/company/field-complete)** Seed · US **$1.9M** With 4 others
- **Jun** **[Nemedio](https://millionrounds.com/company/nemedio)** Venture · US **$755K** With 1 other
- **Feb** **[Amplify Data](https://millionrounds.com/company/amplify-data)** Pre-seed · US **$3.5M** Sole investor
- **2022** 9 rounds
- **Nov** **[Butter](https://millionrounds.com/company/butter)** Series A · US **$9.0M** With 3 others
- **Aug** **[Ascend Homes](https://millionrounds.com/company/ascend-homes)** Seed · US **$2.7M** With 1 other
- **May** **[evaluate.xyz](https://millionrounds.com/company/evaluate-xyz)** Seed · US **$4.0M** With 2 others
- **Apr** **[Norby](https://millionrounds.com/company/norby)** Seed · US **$4.6M** With 5 others
- **Apr** **[Celeri](https://millionrounds.com/company/celeri)** Pre-seed · US **$2.0M** With 1 other
- **Apr** **[Stellar Health](https://millionrounds.com/company/stellar-health)** Venture · US **Undisclosed** With 4 others
- **Mar** **[BastionZero](https://millionrounds.com/company/bastionzero)** Seed · US **$6.0M** With 3 others
- **Mar** **[Archie](https://millionrounds.com/company/archie)** Seed · US **$4.5M** With 5 others
- **Feb** **[Housecat](https://millionrounds.com/company/housecat)** Pre-seed · CH **$3.4M** With 2 others
- **2021** 2 rounds
- **Nov** **[Sawyer](https://millionrounds.com/company/sawyer)** Series A · US **$3.2M** With 3 others
- **Aug** **[Kinvolved](https://millionrounds.com/company/kinvolved)** Seed · US **$250K** With 2 others
- **2019** 3 rounds
- **Oct** **[NuCypher](https://millionrounds.com/company/nucypher)** Coindesk **$11M** With 9 others
- **Jun** **[Livepeer](https://millionrounds.com/company/livepeer)** Series A · US · TechCrunch **$8.0M** With 7 others
- **May** **[Sawyer](https://millionrounds.com/company/sawyer)** Series A · US · Edsurge **$10M** With 3 others
- **2015** 3 rounds
- **Nov** **[Zipdrug](https://millionrounds.com/company/zipdrug)** Seed · US **$2.6M** With 8 others
- **Jul** **[Hickory](https://millionrounds.com/company/hickory)** Venture **Undisclosed** With 1 other
- **Jul** **[Zipdrug](https://millionrounds.com/company/zipdrug)** Seed · US **Undisclosed** 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 **4 named**

AL **Alex Lines** MANAGER OF THE GENERAL PARTNER i Filing they signed

JN **Jeremy Neilson** Managing Director of the General Partner's Manager i Filing they signed

NB **Nicholas B Chirls** MANAGER OF THE GENERAL PARTNER i Filing they signed

RT **Richard Thoms** Officer of the General Partner's Manager i Filing they signed

We also hold **50** 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

**$186M** gross assets of its funds Oct 2026

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

- **Legal name:** Notation Capital Management, LLC
- **SEC number:** CRD 327638

## What they claim to have backed

From their own portfolio page (on their website)

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

[Amperon Next generation](https://millionrounds.com/company/amperon)[Amplify Making every](https://millionrounds.com/company/amplify-data)[Arweave Collectively owned](https://millionrounds.com/company/arweave)[BastionZero Infrastructure access](https://millionrounds.com/company/bastionzero)[Bumpers Short-form mobile audio](https://millionrounds.com/company/bumpers)[Cashmere A shared](https://millionrounds.com/company/cashmere)[ChargeLab Electric vehicle](https://millionrounds.com/company/chargelab)[Circle The modern](https://millionrounds.com/company/circle)[Clora Matching life](https://millionrounds.com/company/clora)[Filecoin A blockchain-powered](https://millionrounds.com/company/filecoin)[Grapevine](https://millionrounds.com/company/grapevine)[Halcyon Evidence-based approach](https://millionrounds.com/company/halcyon-health)[Housecat](https://millionrounds.com/company/housecat)[Indify Connecting emerging](https://millionrounds.com/company/indify)[Kinvolved Communication and](https://millionrounds.com/company/kinvolved)[Livepeer Decentralized live](https://millionrounds.com/company/livepeer)[NEAR Decentralized storage](https://millionrounds.com/company/near)[Nemedio Accelerating medical](https://millionrounds.com/company/nemedio)[Norby The only](https://millionrounds.com/company/norby)[Ntopology](https://millionrounds.com/company/ntopology)[NuCypher Crypto infrastructure](https://millionrounds.com/company/nucypher)[Opencollective](https://millionrounds.com/company/opencollective)[Photon Modern prescription](https://millionrounds.com/company/photon-health)[QA Wolf Easy](https://millionrounds.com/company/qa-wolf)[Radicle Secure peer-to-peer](https://millionrounds.com/company/radicle)[Redesign Computational chemistry](https://millionrounds.com/company/redesign-science)[Runwise An end-to-end](https://millionrounds.com/company/runwise)[Seasons Members-only subscription](https://millionrounds.com/company/seasons)[Solana Decentralized blockchain](https://millionrounds.com/company/solana)[Timber / Vector](https://millionrounds.com/company/datadog)[Toolio Demand forecasting](https://millionrounds.com/company/toolio) ARTA A platform Alice Automated benefits Archie Freelancer payroll Axo The tool Braid Group spending Bulletin Optimizing wholesale Butter Digitizing wholesale Celeri Enabling businesses Chill Pill Peer Clay CRM Helping Clay Labs Expands Density One DJ Duckly Video collaboration Enum Evaluate Market Analyze Float Payments for Formsort Hickory Training software Iggy Location data Lager Data Next-level Lighthall Learn now, Meld Desktop software Merkle The fastest Podia Platform to Radar Relay Your Sawyer Online classes Shippy FinOps command SimpleHealth Birth control, simplified Spruce Powering online and 10 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

**$965K**

raised in Jul 2021

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 **$2.7M**

Led 0 of 31 rounds **0%**

- **Said size:** Up to $5.0M
- **Sole investor:** 4 rounds
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Seed said *18*
- Series A said *4*
- Venture *4*
- Pre-seed said *3*
- Series B *1*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Collaborative Fund](https://millionrounds.com/fund/collaborative-fund) 4
- [Twelve Below](https://millionrounds.com/fund/twelve-below) 3
- [Castle Island Ventures](https://millionrounds.com/fund/castle-island-ventures) 2
- [Compound](https://millionrounds.com/fund/compound-4) 2
- [Edward Lando](https://millionrounds.com/fund/edward-lando) 2
- [Gradient](https://millionrounds.com/fund/gradient-ventures) 2

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

[**Collaborative Fund** VC firm **4** rounds together](https://millionrounds.com/fund/collaborative-fund)[**Twelve Below** VC firm **3** rounds together](https://millionrounds.com/fund/twelve-below)[**Castle Island Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/castle-island-ventures)[**Compound** VC firm **2** rounds together](https://millionrounds.com/fund/compound-4)[**Edward Lando** Angel **2** rounds together](https://millionrounds.com/fund/edward-lando)[**Gradient** VC firm **2** rounds together](https://millionrounds.com/fund/gradient-ventures)[**Gutter Capital** VC firm **2** rounds together](https://millionrounds.com/fund/gutter-capital)[**Pareto Holdings** VC firm **2** rounds together](https://millionrounds.com/fund/pareto-holdings)[**Red Sea Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/red-sea-ventures)[**Y Combinator** Accelerator **2** rounds together](https://millionrounds.com/fund/y-combinator)

## Recently backed

The latest companies Notation Capital put money into.

[**ShareWillow** $8.5M · Oct 2026](https://millionrounds.com/company/sharewillow)[**aethelnode** $2.8M · May 2026](https://millionrounds.com/company/aethelnode)[**REMOFVEULAR** $2.6M · Dec 2025](https://millionrounds.com/company/remofveular)[**NOAT** $7.0M · Jan 2025](https://millionrounds.com/company/noat)[**IP Copilot** $4.2M · Dec 2024](https://millionrounds.com/company/ip-copilot)[**QA Wolf** $36M · Jul 2024](https://millionrounds.com/company/qa-wolf)

## On podcasts

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

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 14 Sept 2015 · 29 min 20 VC 071: Pre-Seed Investing, Why Now Is The Best Time with Nicholas Chirls @ Notation Capital With [Nicholas Chirls](https://millionrounds.com/person/nicholas-chirls) Mentions [Notation Capital](https://millionrounds.com/fund/notation-capital)[Betaworks](https://millionrounds.com/fund/betaworks) Apple PodcastsShow page

### Mentioned in

- [Superclusters](https://millionrounds.com/podcasts/superclusters) 27 Apr 2026 · 1h 20m What Makes a VC Inevitable | Sam Huleatt Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 6 Sept 2024 · 1h 1m 20VC: Why VC is a Ponzi Scheme Today | Why Most VCs are Bankers | Why Big VCs Ruin Startups | Why Incentives in VC are Broken | Why American Dynamism is a Tool for VCs to Raise Money with Nick Chirls, Asylum Ventures Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 20 Aug 2024 · 8 min Minisode: What’s the Real Value Add of VCs? Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 6 Aug 2024 · 40 min Being Non-Consensus and Right in VC with Jason Shuman & Will Quist Apple PodcastsShow page

## Quick answers about Notation Capital

### What does Notation Capital invest in?

Notation Capital invests most often at Seed and Series A (73% of the rounds on record), in sectors such as Hard Tech, Infrastructure and Product.

### How active is Notation Capital?

31 investments on record, 3 of them in the last 12 months. The most recent was in Oct 2026.

### What has Notation Capital invested in recently?

Its most recent investments on record: ShareWillow (Seed, Oct 2026), aethelnode (Seed, May 2026) and REMOFVEULAR (Seed, Dec 2025).

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

The median round it joins is $4.1M.

### Does Notation Capital lead rounds?

Rarely, if at all: none of its 31 investments on record names it as the lead.

### Where does Notation Capital invest?

Most of the companies it backs are in the United States (97%).

### Is Notation Capital investing now?

Yes: it is actively investing, with 3 investments in the last 12 months.

### Who does Notation Capital invest alongside?

Most often Collaborative Fund (4 rounds together), Twelve Below (3 rounds together) and Castle Island Ventures (2 rounds together).

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