# Valor Equity Partners: portfolio, investments and team

> Valor Equity Partners is a vc firm based in United States. 260 investments on record, 67 in the last 12 months, latest Oct 2026.

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

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

# Valor Equity Partners

Last cheque observed Oct 2026; 260 cheques on record.

Email

Deploying now New fund $2.6B, Sept 2026 VC firm

Seed Series A Series B Technology Biosciences Transportation

Follow Valor Equity Partners and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fvalor-equity-partners)

Deploying now

**88%** of best year **67** **cheques in 12 months**, 260 on record

Since the last cheque **4** days **00** hrs **00** min **00** sec

Median round **$50M** Rounds led **21 of 260** Sole investor **10 rounds** Exits **2 from the portfolio** Mostly in **United States, 92%**

Pitch Valor Equity Partners

## Valor Equity Partners highlights

- 01 67 cheques in the last 12 months
- 02 Mostly Venture and Series B: 46% of its rounds
- 03 Sole investor in 10 rounds, median $11M
- 04 2 exits from the portfolio

## What they do

> We're Valor, a different kind of private investment firm. From their own website

- **Type:** VC firm
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Technology Biosciences Transportation
- **Based in:** Chicago, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **260 appearances**

- **2026** 60 rounds
- **Oct** **[Bedrock Robotics](https://millionrounds.com/company/bedrock-robotics)** Series C · US · Google News search **$600M** With 12 others
- **Oct** **[Flapping Airplanes](https://millionrounds.com/company/flapping-airplanes)** Series A · US · Google News search **$1.0B** With 13 others
- **Sept** **[Flow Engineering](https://millionrounds.com/company/flow-engineering)** Series B · US · Seedcamp **$50M** *Led*
- **Sept** **[Crusoe](https://millionrounds.com/company/crusoe)** Series F · US · TechCrunch **$3.9B** *Led*
- **Sept** **[Impulse Space](https://millionrounds.com/company/impulse-space)** Series D · US · Google News search **$308M** With 6 others
- **Sept** **[The Boring Co.](https://millionrounds.com/company/the-boring-co)** Growth · US · Google News search **$3.0B** With 8 others
- **Sept** **[Positron AI](https://millionrounds.com/company/positron-ai)** Series C · Ventureburn **$875M** *Led*
- **Sept** **[Crusoe](https://millionrounds.com/company/crusoe)** Growth · US · Crunchbase News **$3.0B** *Led*
- **Sept** **[David](https://millionrounds.com/company/david)** Series B · US · AlleyWatch **$250M** *Led*
- **Sept** **[Celero Communications](https://millionrounds.com/company/celero-communications)** Series C · US **$275M** Sole investor
- **Sept** **[Positron](https://millionrounds.com/company/positron)** Series C · US **$500M** With 2 others
- **Sept** **[Heron Power](https://millionrounds.com/company/heron-power)** Debt · US **$60M** With 3 others
- **Aug** **[General Intuition](https://millionrounds.com/company/general-intuition)** Growth · US · TechCrunch **$220M** With 7 others
- **Aug** **[Castelion](https://millionrounds.com/company/castelion)** Series C · US · Crunchbase News **$800M** With 7 others
- **Aug** **[Neros Technologies](https://millionrounds.com/company/neros-technologies)** Series C · US · TechStartups **$250M** With 5 others
- **Aug** **[Hadrian](https://millionrounds.com/company/hadrian)** Growth · US · Crunchbase News **$1.4B** *Led*
- **Aug** **[Valar Atomics](https://millionrounds.com/company/valar-atomics)** Series B · US · TechCrunch **$1.0B** With 9 others
- **Aug** **[Base Power](https://millionrounds.com/company/base-power)** Series D · US · TechCrunch **$1.0B** *Led*
- **Aug** **[Hadrian](https://millionrounds.com/company/hadrian)** Debt · NL **$360M** With 4 others
- **Jul** **[Holobiome](https://millionrounds.com/company/holobiome)** Seed · US **$10M** With 1 other
- **Jul** **[Fundamental](https://millionrounds.com/company/fundamental)** Venture · US **$225M** With 3 others
- **Jul** **[Alto Neuroscience](https://millionrounds.com/company/alto-neuroscience)** US **$100M** With 3 others
- **Jul** **[Andrenam](https://millionrounds.com/company/andrenam)** Series A · US **$18M** With 2 others
- **Jun** **[Dominion Dynamics](https://millionrounds.com/company/dominion-dynamics)** Series A · CA · Ventureburn **$98M** With 17 others
- **May** **[Armada](https://millionrounds.com/company/armada)** Series B · US · TechStartups **$230M** With 17 others
- **May** **[Counterpart](https://millionrounds.com/company/counterpart)** Series C · US · Ventureburn **$50M** *Led*
- **May** **[Judgment Labs](https://millionrounds.com/company/judgment-labs)** Series A · US **$32M** With 2 others
- **May** **[Coalition](https://millionrounds.com/company/coalition)** Venture · US **Undisclosed** With 4 others
- **May** **[Decart](https://millionrounds.com/company/decart)** Venture · US **$300M** With 4 others
- **May** **[Neuralink](https://millionrounds.com/company/neuralink)** Venture · US **Undisclosed** With 4 others
- **Apr** **[Loop](https://millionrounds.com/company/loop)** Series C · TechCrunch **$95M** *Led*
- **Apr** **[Aria Networks](https://millionrounds.com/company/aria-networks)** Seed · US · TechStartups **$125M** With 3 others
- **Apr** **[BizScout](https://millionrounds.com/company/bizscout)** Seed · US **$5.0M** With 2 others
- **Apr** **[Disa](https://millionrounds.com/company/disa)** Series A · US **$33M** Sole investor
- **Apr** **[Zamp](https://millionrounds.com/company/zamp)** Venture · US **$17M** With 3 others
- **Apr** **[Cerebras Systems](https://millionrounds.com/company/cerebras-systems)** Debt · US **$850M** With 3 others
- **Mar** **[Highlight AI](https://millionrounds.com/company/highlight-ai)** Series A · US · Ventureburn **$40M** With 8 others
- **Mar** **[Eight Sleep](https://millionrounds.com/company/eight-sleep)** Series C · US · Crunchbase News **$50M** With 8 others
- **Mar** **[Electra](https://millionrounds.com/company/electra)** Debt · FR **$30M** With 4 others
- **Mar** **proteanTecs** Venture **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 **19 named**

AM **Anne Marie Dean** Ms. Dean is the Chief Financial Officer of the Co-Investment Manager i Filing they signed

AM **Anne Marie Morley** Executive Officer, Promoter i Filing they signed

AJ **Antonio Jose Gracias** Mr. Gracias is the Chief Executive Officer of the Co-Investment Manager i Filing they signed

CH **Cassie Hyun Chung Peterson** Chief Compliance Officer i Form ADV

DF **David Finn** Mr. Finn is the Chief Financial Officer and an authorized signatory of the Co-Investment Manager i Filing they signed

DJ **David J. Obrand** Executive Officer, Promoter i Filing they signed

DF **Douglas Fumagalli** Executive Officer, Promoter i Filing they signed

GB **Gavin Baker** Mr. Baker is the Chief Investment Officer of the Co-Investment Manager i Filing they signed

JK **Jonathan Kiefer Shulkin** Mr. Shulkin is a Co-President of the Co-Investment Manager i Filing they signed

JA **Juan Alfonso Sabater** Mr. Sabater is a Co-President of the Co-Investment Manager i Filing they signed

LM **Laura Malone** Ms. Malone is the General Counsel and an authorized signatory of the Co-Investment Manager i Filing they signed

MJ **Michael J. Soenen** Executive Officer, Promoter i Filing they signed

NJ **Nancy J. Kowalczyk** Executive Officer, Promoter i Filing they signed

RT **Richard Tait** Executive Officer, Promoter i Filing they signed

ST **Sam Teller** Executive Officer, Promoter i Filing they signed

SW **Stephen William Swanson** Mr. Swanson is the Chief Legal Officer of the Co-Investment Manager i Filing they signed

SJ **Susan J. Hassan** Executive Officer, Promoter i Filing they signed

TJ **Timothy J. Watkins** Executive Officer, Promoter i Filing they signed

VJ **Vivek J. Pattipati** Executive Officer, Promoter i Filing they signed

We also hold **32** 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

**$59B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Valor Management LLC
- **SEC number:** CRD 160014

Funds on its Form ADV

**46** private funds, **$18B** in gross assets · filed Sept 2024

Private equity **44** Venture **2**

- Valor Equity Partners IV L.P. *Private equity* 142 investors $2.2B
- Valor Space Holdings, LLC *Private equity* 17 investors $1.9B
- Valor M33 V L.P. *Private equity* 277 investors $1.5B
- Valor Equity Partners VI L.P. *Private equity* 400 investors $1.5B
- Valor Equity Partners V L.P. *Private equity* 201 investors $1.5B
- Valor M33 III L.P. *Private equity* 218 investors $1.2B
- Valor M33 L.P. *Private equity* 29 investors $1.0B
- Valor Equity Partners V-B L.P. *Private equity* 113 investors $990M
- Valor Equity Partners VI-B L.P. *Private equity* 129 investors $792M
- Valor M33 II L.P. *Private equity* 38 investors $788M

And 36 more on the filing.

Who backs their funds

## 2 LPs on record in Valor Equity Partners's funds

- **Committed:** $2.5B
- **Funds:** 4
- **Vintages:** 2017 to 2023

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026.

- [**California Public Employees' Retirement System (CalPERS)** 3 funds *$2.4B*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed CV Consortio Fund 2023 $2.0B Valor Equity Partners VI 2023 $300M Valor Equity Partners IV 2017 $75M
- [**California State Teachers Retirement System** 3 funds *$120M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Valor Equity Partners VI 2023 $40M Valor Equity Partners V 2021 $40M Valor Equity Partners IV 2018 $40M

## What they claim to have backed

From their own portfolio page (on their website)

**22** of 35 we have independently watched raise

[AMP Robotics](https://millionrounds.com/company/amp-robotics)[Addepar](https://millionrounds.com/company/addepar)[AgentSync](https://millionrounds.com/company/agentsync)[Anduril](https://millionrounds.com/company/anduril-industries)[Base Power](https://millionrounds.com/company/base-power)[Brightloom](https://millionrounds.com/company/brightloom)[Castle Creek Biosciences](https://millionrounds.com/company/castle-creek-biosciences)[Cruseo Energy](https://millionrounds.com/company/crusoe-energy-systems)[Dataminr](https://millionrounds.com/company/dataminr)[Fooda](https://millionrounds.com/company/fooda)[Harmony Biosciences](https://millionrounds.com/company/harmony-biosciences)[K Health](https://millionrounds.com/company/k-health)[Premise](https://millionrounds.com/company/premise)[Redwood Materials](https://millionrounds.com/company/redwood-materials)[Solink](https://millionrounds.com/company/solink)[Sonder](https://millionrounds.com/company/sonder)[The Boring Company](https://millionrounds.com/company/the-boring-company)[Unchained](https://millionrounds.com/company/unchained)[WEKA](https://millionrounds.com/company/weka)[Z League](https://millionrounds.com/company/z-league)[Zeitview](https://millionrounds.com/company/zeitview)[hackerone](https://millionrounds.com/company/hackerone) ARMADA Benchmark Coalition Investors Manduka Mythic Reddit Remora Republic Roti Wow Bao Xsight Labs Zipline

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 listed **2 in all**

**[SolarCity](https://millionrounds.com/company/solarcity)** Listed **Undisclosed** Dec 2012

**[Tesla Motors](https://millionrounds.com/company/tesla-motors)** Listed **$1.0B** Jul 2010

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

## Companies it bought

Acquisitions by the firm itself

**Rocky Mountain Forest Products** **Undisclosed** Apr 2005

New fund on file

**$2.6B**

raised in Sept 2026

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 **$50M** the round, not its cheque Alone, median **$11M**

Led 21 of 260 rounds **8%**

- **Sole investor:** 10 rounds
- **Last cheque:** Oct 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Venture *57*
- Series B said *39*
- Series A said *37*
- Series C *34*
- Seed said *25*
- Growth said *16*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Founders Fund](https://millionrounds.com/fund/founders-fund) 34
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 24
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 20
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 20
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 18
- [Craft Ventures](https://millionrounds.com/fund/craft-ventures) 18

**Pitching Valor Equity Partners?** 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 Valor Equity Partners. A count of rooms they were both in, not a relationship either has claimed.

[**Founders Fund** VC firm **34** rounds together](https://millionrounds.com/fund/founders-fund)[**Alumni Ventures** VC firm **24** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Sequoia Capital** VC firm **20** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Y Combinator** Accelerator **20** rounds together](https://millionrounds.com/fund/y-combinator)[**Andreessen Horowitz** VC firm **18** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Craft Ventures** VC firm **18** rounds together](https://millionrounds.com/fund/craft-ventures)[**Fidelity** VC firm **17** rounds together](https://millionrounds.com/fund/fidelity)[**Gaingels** Private equity **14** rounds together](https://millionrounds.com/fund/gaingels)[**Lightspeed Venture Partners** VC firm **14** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**8VC** VC firm **13** rounds together](https://millionrounds.com/fund/8vc)[**Lux Capital** VC firm **13** rounds together](https://millionrounds.com/fund/lux-capital)[**NVIDIA** Company **12** rounds together](https://millionrounds.com/fund/nvidia)

## Recently backed

The latest companies Valor Equity Partners put money into.

[**Bedrock Robotics** $600M · Oct 2026](https://millionrounds.com/company/bedrock-robotics)[**Flapping Airplanes** $1.0B · Oct 2026](https://millionrounds.com/company/flapping-airplanes)[**Flow Engineering** $50M · Sept 2026](https://millionrounds.com/company/flow-engineering)[**Crusoe** $3.9B · Sept 2026](https://millionrounds.com/company/crusoe)[**Impulse Space** $308M · Sept 2026](https://millionrounds.com/company/impulse-space)[**Positron AI** $875M · Sept 2026](https://millionrounds.com/company/positron-ai)

## On podcasts

1 episode naming Valor Equity Partners in the title, and 4 more that mention it.

- [Sourcery](https://millionrounds.com/podcasts/sourcery) 9 Apr 2025 · 58 min Base Power's $200M Series B Co-Led by Lee Fixel of Addition, A16Z, Lightspeed, & Valor Equity Partners Mentions [Addition](https://millionrounds.com/fund/addition)[Lee Fixel](https://millionrounds.com/fund/lee-fixel)[Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners) *+4* Apple PodcastsShow page

### Mentioned in

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 3 Oct 2026 · 1h 1m 20VC: The Future of Datacentres: What You Need to Know | Why Everyone Gets GPU Depreciation and AI's Energy Costs Wrong | Who Really Makes Money From AI & Why Most Moats Don't Exist with Chase Lochmiller Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 19 Sept 2026 · 1h 12m 20VC: "Anti-Data Centres is a Chinese Psyop" | How Many Planned Data Centers Will Actually Get Built? | Is Energy AI's Biggest Bottleneck? With Thomas Sohmers, Co-Founder @ Positron Apple PodcastsShow page
- [Equity](https://millionrounds.com/podcasts/equity) 16 Sept 2026 · 27 min Why Thrive, Founders Fund, and Antonio Gracias are betting on hearing aids Apple Podcasts
- [Sourcery](https://millionrounds.com/podcasts/sourcery) 3 Aug 2026 · 25 min Base Power Hits $13B Valuation on $1B Series D Apple PodcastsShow page

## Quick answers about Valor Equity Partners

### What does Valor Equity Partners invest in?

Valor Equity Partners invests most often at Venture and Series B (46% of the rounds on record), in sectors such as Technology, Biosciences and Transportation.

### How active is Valor Equity Partners?

260 investments on record, 67 of them in the last 12 months, and it led 21. The most recent was in Oct 2026.

### What has Valor Equity Partners invested in recently?

Its most recent investments on record: Bedrock Robotics (Series C, Oct 2026), Flapping Airplanes (Series A, Oct 2026) and Flow Engineering (Series B, Sept 2026).

### How big are Valor Equity Partners's cheques?

The median round it joins is $50M.

### Does Valor Equity Partners lead rounds?

Sometimes: it led 21 of its 260 investments on record (8%).

### Where does Valor Equity Partners invest?

Most of the companies it backs are in the United States (92%).

### Is Valor Equity Partners investing now?

Yes: it is actively investing, with 67 investments in the last 12 months.

### Who does Valor Equity Partners invest alongside?

Most often Founders Fund (34 rounds together), Alumni Ventures (24 rounds together) and Sequoia Capital (20 rounds together).

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