United States · Investor

Theory Ventures

Last cheque observed Sep 2026; 9 cheques on record.

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Deploying nowNew fund $2.3M, Feb 2026VC firm

Series BSeries ASeries CVenture Capital & Private Equity

Deploying now
100%of best year8cheques in 12 months, 9 on record
Since the last cheque45days00hrs00min00sec
Median round$55MCheque size, as they say$1.0M – $40MRounds led3 of 9Mostly inUnited States, 100%
Pitch Theory Ventures

Theory Ventures highlights

  1. 01

    8 cheques in the last 12 months

  2. 02

    Mostly Series B and Series A: 89% of its rounds

  3. 03

    Led 3 rounds

What they do

Type
VC firm (from a list, unverified)
Cheque size
$1.0M – $40M as they say
Sectors
Venture Capital & Private Equity
Based in
San Francisco, United States
Cold pitches
Accepted

The record

Every round we can evidence, newest first9 appearances

  1. 2026

    8 rounds

  2. Sept
    BackOpsSeries B · US · Ventureburn$42MWith 4 others
  3. Jul
    OllamaSeries B · TechCrunch$65MLed
  4. Jun
    AlliumSeries B · US · AlleyWatch$40MWith 3 others
  5. Apr
    OmniSeries C · US · Ventureburn$120MWith 6 others
  6. Apr
    ArtemisSeries A · US · Ventureburn$70MWith 10 others
  7. Mar
    DossSeries B · US · TechCrunch$55MWith 6 others
  8. Mar
    BackOpsSeries A · US · Ventureburn$26MLed
  9. Feb
    KoahSeries A · US · Ventureburn$21MLed
  10. 2025

    1 round

  11. Mar
    OmniSeries B · US · TechCrunch$69MWith 7 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 registration2 named

TTTomasz TunguzManaging DirectoriFiling they signed
TTTomasz Tunguz-ZawislakManaging DirectoriFiling they signed

We also hold 7 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.

Who they invest alongside

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

First Round CapitalVC firm3rounds together10vcVC firm2rounds togetherBoxGroupVC firm2rounds togetherConstruct CapitalVC firm2rounds togetherGoogle VenturesCorporate VC2rounds togetherICONIQ CapitalFamily office2rounds togetherQuiet CapitalVC firm2rounds togetherRedpointVC firm2rounds together

Recently backed

The latest companies Theory Ventures put money into.

Ollama$65M · Jul 2026Omni$120M · Apr 2026Artemis$70M · Apr 2026Koah$21M · Feb 2026

On podcasts

6 episodes naming Theory Ventures in the title, and 4 more that mention it.

Mentioned in

Quick answers about Theory Ventures

What does Theory Ventures invest in?

Theory Ventures invests most often at Series B and Series A (89% of the rounds on record), in sectors such as Venture Capital & Private Equity.

How active is Theory Ventures?

9 investments on record, 8 of them in the last 12 months, and it led 3. The most recent was in Sept 2026.

What has Theory Ventures invested in recently?

Its most recent investments on record: BackOps (Series B, Sept 2026), Ollama (Series B, Jul 2026) and Allium (Series B, Jun 2026).

How big are Theory Ventures's cheques?

The median round it joins is $55M. It says it writes cheques of $1.0M to $40M.

Does Theory Ventures lead rounds?

Yes: it led 3 of its 9 investments on record (33%).

Where does Theory Ventures invest?

Most of the companies it backs are in the United States (100%).

Is Theory Ventures investing now?

Yes: it is actively investing, with 8 investments in the last 12 months.

Who does Theory Ventures invest alongside?

Most often First Round Capital (3 rounds together), 10vc (2 rounds together) and BoxGroup (2 rounds together).

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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