# Volition Capital: portfolio, investments and team

> Volition Capital is a vc firm based in United States. 37 investments on record, 5 in the last 12 months, latest Oct 2026.

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

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

# Volition Capital

Last cheque observed Oct 2026; 37 cheques on record.

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Deploying now New fund $400M, Jun 2026 VC firm

Seed Series A Series B Software Technology

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

Deploying now

**100%** of best year **5** **cheques in 12 months**, 37 on record

Since the last cheque **17** days **00** hrs **00** min **00** sec

Median round **$22M** Cheque size, as they say **$100K – $50M** Rounds led **7 of 37** Sole investor **13 rounds** Exits **2 from the portfolio** Mostly in **United States, 94%**

Pitch Volition Capital

## Volition Capital highlights

- 01 5 cheques in the last 12 months
- 02 Mostly Series A and Series B: 52% of its rounds
- 03 Sole investor in 13 rounds, median $15M
- 04 2 exits from the portfolio

## What they do

> Boston-based growth equity firm partnering with founders to accelerate business growth and scale innovative, high-potential companies. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $50M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Software Technology
- **Based in:** Boston, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **37 appearances**

- **2026** 5 rounds
- **Oct** **[Tamr](https://millionrounds.com/company/tamr)** Growth · US · Ventureburn **$21M** *Led*
- **Aug** **[VibeIQ](https://millionrounds.com/company/vibeiq)** Growth · Ventureburn **$23M** *Led*
- **Aug** **[Levanta](https://millionrounds.com/company/levanta)** Series B · US · Volition Capital **$22M** *Led*
- **Mar** **[Keynes](https://millionrounds.com/company/keynes)** US · Volition Capital **$40M** *Led*
- **Mar** **[BusRight](https://millionrounds.com/company/busright)** Growth · US · AlleyWatch **$30M** *Led*
- **2025** 1 round
- **Jul** **[Linkby](https://millionrounds.com/company/linkby)** Series B · AU · Startup Daily **$15M** *Led*
- **2019** 3 rounds
- **Nov** **[Arteza](https://millionrounds.com/company/arteza)** Series A · US · FinSMEs **$24M** Sole investor
- **Oct** **[Grax](https://millionrounds.com/company/grax)** Series A · US · FinSMEs **$12M** Sole investor
- **Jan** **[Bond-Pro](https://millionrounds.com/company/bond-pro)** US · FinSMEs **$10M** Sole investor
- **2018** 1 round
- **Aug** **[TraceLink](https://millionrounds.com/company/tracelink)** US · FinSMEs **$93M** With 5 others
- **2017** 2 rounds
- **Nov** **[Broker Genius](https://millionrounds.com/company/broker-genius)** Series A · US · FinSMEs **$15M** Sole investor
- **Oct** **[Connatix](https://millionrounds.com/company/connatix)** US · FinSMEs **$15M** Sole investor
- **2016** 3 rounds
- **Jul** **[Prinova](https://millionrounds.com/company/prinova)** CA · FinSMEs **$17M** Sole investor
- **Jan** **[Vibes Media](https://millionrounds.com/company/vibes-media)** **$45M** With 2 others
- **Jan** **[Ensighten](https://millionrounds.com/company/ensighten)** **$53M** *Led*
- **2015** 3 rounds
- **Oct** **[Ensighten](https://millionrounds.com/company/ensighten)** Series C · US **$53M** With 4 others
- **Feb** **[TraceLink](https://millionrounds.com/company/tracelink)** Venture · US **$20M** With 2 others
- **Jan** **[Insite Software](https://millionrounds.com/company/insite-software)** Venture · US **$17M** Sole investor
- **2014** 4 rounds
- **Sept** **[Ping Identity Corporation](https://millionrounds.com/company/ping-identity-corporation)** Series G · US **$35M** With 8 others
- **Sept** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series F · US **$20M** With 7 others
- **Aug** **[The Resumator](https://millionrounds.com/company/the-resumator)** Series C · US **$15M** With 4 others
- **Aug** **Jazz** Series C **$15M** With 4 others
- **2013** 2 rounds
- **Dec** **[LoanLogics](https://millionrounds.com/company/loanlogics)** Venture · US · finsmes.com **$11M** Sole investor
- **Jan** **[Prosper](https://millionrounds.com/company/prosper)** Venture · US · techcrunch.com **$20M** With 8 others
- **2012** 3 rounds
- **Sept** **[Ensighten](https://millionrounds.com/company/ensighten)** Series A · US · techcrunch.com **$16M** With 4 others
- **Jun** **[Visual IQ](https://millionrounds.com/company/visual-iq)** Series B · US · masshightech.com **$12M** With 1 other
- **Feb** **[Velocify](https://millionrounds.com/company/velocify)** Series B · US · techcrunch.com **$15M** With 1 other
- **2011** 3 rounds
- **Oct** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series E · US · masshightech.com **$12M** With 9 others
- **Jun** **[Ping Identity Corporation](https://millionrounds.com/company/ping-identity-corporation)** Series D · US · techcrunch.com **$21M** With 7 others
- **Jan** **[GlobalTranz](https://millionrounds.com/company/globaltranz)** Series A · US · volitioncapital.com **$10M** Sole investor
- **2010** 2 rounds
- **Aug** **[G5](https://millionrounds.com/company/g5)** Venture · US · bendbulletin.com **$15M** Sole investor
- **Mar** **[Stylesight](https://millionrounds.com/company/stylesight)** Series B · US · paidcontent.org **$5.0M** With 1 other
- **2009** 1 round
- **Feb** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series D · US · techcrunch.com **$5.0M** With 9 others
- **2008** 2 rounds
- **Sept** **[Stylesight](https://millionrounds.com/company/stylesight)** Series A · US · techcrunch.com **$16M** With 1 other
- **Jun** **[iPipeline](https://millionrounds.com/company/ipipeline)** Series A · US · bizjournals.com **$18M** With 2 others
- **2007** 1 round
- **Feb** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series C · US · blackducksoftware.com **$12M** With 7 others
- **2005** 1 round
- **Jun** **[Black Duck Software](https://millionrounds.com/company/black-duck-software)** Series B · US · intel.com **$12M** With 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 registration **5 named**

AD **Andrew D Flaster** Managing Member of the General Partner i Filing they signed

LW **Lawrence W Cheng** Managing Member of the General Partner i Filing they signed

MJ **Michael Joseph Wilkens** Chief Financial Officer i Form ADV

RJ **Roger J Hurwitz** Managing Member of the General Partner i Filing they signed

SP **Sean P Cantwell** Managing Member of the General Partner i Filing they signed

We also hold **54** 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

**$2.3B** gross assets of its funds Oct 2026

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

- **Legal name:** Volition Capital LLC
- **SEC number:** CRD 162180

## Exits from the portfolio

Companies it backed that were later bought or listed **2 in all**

**[iPipeline](https://millionrounds.com/company/ipipeline)** Bought by [Thoma Bravo](https://millionrounds.com/fund/thoma-bravo) **Undisclosed** Aug 2015

**[Stylesight](https://millionrounds.com/company/stylesight)** Bought by WGSN.com **Undisclosed** Nov 2013

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

New fund on file

**$400M**

raised in Jun 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 **$22M** the round, not its cheque Alone, median **$15M**

Led 7 of 37 rounds **19%**

- **Said size:** $100K – $50M
- **Sole investor:** 13 rounds
- **Last cheque:** Oct 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Series A said *7*
- Series B said *6*
- Venture *5*
- Series C *4*
- Growth said *3*
- Seed said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 7
- [Sapphire Ventures](https://millionrounds.com/fund/sapphire-ventures) 7
- [Fidelity Ventures](https://millionrounds.com/fund/fidelity-ventures) 6
- [Intel Capital](https://millionrounds.com/fund/intel-capital) 5
- [SAP](https://millionrounds.com/fund/sap) 5
- [Hard Yaka](https://millionrounds.com/fund/hard-yaka) 4

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

[**General Catalyst** VC firm **7** rounds together](https://millionrounds.com/fund/general-catalyst)[**Sapphire Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/sapphire-ventures)[**Fidelity Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/fidelity-ventures)[**Intel Capital** Corporate VC **5** rounds together](https://millionrounds.com/fund/intel-capital)[**SAP** Growth equity **5** rounds together](https://millionrounds.com/fund/sap)[**Hard Yaka** VC firm **4** rounds together](https://millionrounds.com/fund/hard-yaka)[**Flagship Ventures** Accelerator **3** rounds together](https://millionrounds.com/fund/flagship-ventures)[**Lead Edge Capital** Private equity **3** rounds together](https://millionrounds.com/fund/lead-edge-capital)[**SVB Capital** VC firm **3** rounds together](https://millionrounds.com/fund/svb-capital)[**Appian Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/appian-ventures)[**Birchmere Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/birchmere-ventures)[**Blue Cloud Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/blue-cloud-ventures)

## Recently backed

The latest companies Volition Capital put money into.

[**Tamr** $21M · Oct 2026](https://millionrounds.com/company/tamr)[**VibeIQ** $23M · Aug 2026](https://millionrounds.com/company/vibeiq)[**Keynes** $40M · Mar 2026](https://millionrounds.com/company/keynes)[**BusRight** $30M · Mar 2026](https://millionrounds.com/company/busright)[**Linkby** $15M · Jul 2025](https://millionrounds.com/company/linkby)[**Arteza** $24M · Nov 2019](https://millionrounds.com/company/arteza)

## On podcasts

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

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 21 Oct 2026 · 21 min Capital-Efficient Tech Investing: Volition Capital’s Larry Cheng With [Larry Cheng](https://millionrounds.com/person/larry-cheng) Mentions [Volition Capital](https://millionrounds.com/fund/volition-capital)[Fidelity](https://millionrounds.com/fund/fidelity)[Fidelity Ventures](https://millionrounds.com/fund/fidelity-ventures) Apple PodcastsShow page

### Mentioned in

- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 17 Sept 2026 · 6 min Investor Stories 493: Founder CEO Removal, Acquisition Pressure, and Co-Founder Conflict, Lessons from Investors at Volition, Notable, and Fika (Cheng, Solomon, Chen) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 27 Aug 2026 · 7 min Investor Stories 490: Investors from Volition, Acadian Ventures, and Interplay Ventures on Building Competence, Operating Experience, and Investing with Purpose (Cheng, Black, Peter Davis) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 13 Aug 2026 · 7 min Investor Stories 488: Losing Conviction, Overpaying for Discounts, and Selling Too Early, Lessons from Volition, Acadian, and Interplay (Cheng, Black, Peter Davis) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 30 Jul 2026 · 9 min Investor Stories 486: The Traits of Visionary Founders: Ecosystem-Scale Thinking, Data-Driven Truth-Seeking, and Relentless Customer Experience Design (Blank, Demaree, Cheng) Apple PodcastsShow page

## Quick answers about Volition Capital

### What does Volition Capital invest in?

Volition Capital invests most often at Series A and Series B (52% of the rounds on record), in sectors such as Software and Technology.

### How active is Volition Capital?

37 investments on record, 5 of them in the last 12 months, and it led 7. The most recent was in Oct 2026.

### What has Volition Capital invested in recently?

Its most recent investments on record: Tamr (Growth, Oct 2026), VibeIQ (Growth, Aug 2026) and Levanta (Series B, Aug 2026).

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

The median round it joins is $22M. It says it writes cheques of $100K to $50M.

### Does Volition Capital lead rounds?

Yes: it led 7 of its 37 investments on record (19%).

### Where does Volition Capital invest?

Most of the companies it backs are in the United States (94%).

### Is Volition Capital investing now?

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

### Who does Volition Capital invest alongside?

Most often General Catalyst (7 rounds together), Sapphire Ventures (7 rounds together) and Fidelity Ventures (6 rounds together).

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