Donavan Moss, AJ Smith

On November 7th, Secretary of War Pete Hegseth announced sweeping changes to how the Department of War buys technology. The centerpiece: rebranding the Defense Acquisition System (DAS) as the Warfighting Acquisition System (WAS), with an explicit mandate to push authority downward and move faster. The old system was built around compliance and process. The new system treats acquisition as a warfighting function and prioritizes speed to fielded capability. As the memo puts it: “Speed to capability delivery is now our organizing principle.”

The reforms also introduce Portfolio Acquisition Executives (replacing the old PEO structure), incentive-based compensation tied to delivery timelines, and a stated preference for commercial solutions. For founders, the signal is clear: the Department wants to buy from you faster.

So in your next strategy meeting, you’re probably asking: “Should I focus on winning OTAs now instead of SBIRs?”

Here’s the bottom line.

OTAs are a powerful tool. They move faster than traditional contracts and can lead to sticky production agreements. But SBIRs remain the best entry point for most startups because they help founders learn how to sell into the Department—not just pitch to it. They force you to nail down a user, a requirement, and a mission. And they make it far easier to graduate into larger contracting instruments later.

Think of SBIR as the beachhead. OTA is the ramp. The goal is not to stack non-dilutive grants forever. The goal is to reach procurement money—and eventually O&M funds—as fast as possible. That’s where real scale and enduring revenue live.

What is an OTA, and why does it matter now?

An OTA (Other Transaction Authority) is a non-Federal Acquisition Regulation (FAR)-based contracting instrument. In plain terms, it allows the government to buy, prototype, and scale technology without the full weight of traditional acquisition rules.

OTAs matter because they can be awarded faster, allow more commercial-style deal structures, bridge prototype to production, and convert real demand into real dollars. They sit in that critical middle zone between pilot and full procurement, giving your early champion more leverage to pull you through the system.

Under the new WAS framework, OTAs are likely to become even more prominent as the Department leans into speed and flexibility.

But there’s a catch.

Sometimes a unit or program office will use an OTA to buy a single prototype for an upcoming exercise. On paper, that looks like a win. But if it’s your first engagement with the Department, you’ve landed in the deep end without scaffolding—no built-in transition support, no structured portfolio shepherding.

OTAs can absolutely work as a first touch point, especially if you have a government champion with real operational urgency. But SBIR offices have something OTAs don’t: a mandate to transition what they fund. They bring resources, contracting support, portfolio leads, and workflows designed to help companies mature inside the DoW ecosystem. Even if you enter through an OTA, you should leverage SBIR and innovation networks to connect with requirements owners, align to the right Program Elements (PEs), and build a transition plan that leads to actual procurement.

OTAs aren’t bad. You just usually need the support structure around them to turn a prototype sale into something enduring.

Why SBIR remains the best starting point

SBIR forces discipline. It requires you to define the specific operational pain, the exact end user, and how your capability maps to mission execution. It also gives you support infrastructure, contracting help, and transition-focused resources.

In short, SBIR teaches you how to sell inside the Department—not just pitch outside of it.

It de-risks and matures your product before it reaches the warfighter, and it gives you credibility with every other buyer and contracting pathway you’ll encounter.

SBIR is how you build the muscle memory of how Warfighting Acquisition actually works.

The PE problem most founders miss

Here’s something founders often overlook: the customer you’re talking to needs access to a Program Element (PE) with money aligned to your maturity level and use case. A PE is essentially a budget line that defines what Congress authorized that money to be spent on. If your champion doesn’t have the right PE, they literally cannot pay you—even if they want to.

This is why SBIR is so powerful early. It bypasses PE constraints because it’s congressionally carved-out RDT&E (Research, Development, Test & Evaluation) funding.

It’s also why founders often experience the Department as “interested” but not buying. They’re talking to officers and GS civilians who genuinely want the capability, but their PE is the wrong color of money at the wrong time of year.

Sequence matters

If you’ve never sold to the government, SBIR is the cleanest on-ramp.

If you already have validated demand and operational pull, OTAs can accelerate your path to production and procurement.

Here’s a simple framework for running your Warfighting Acquisition OODA Loop:

SBIR is the ignition. OTA is the accelerant.

Use both.

Why Outlander VC?

We back pre-seed founders building for national security – and help them navigate their first DoW contracts. If you’re looking to raise outside capital, we’d love to chat. Apply here.

For the last decade, startups were told to “stay lean.” Don’t touch hardware. Be a pure software play. Today, that mindset is increasingly obsolete.

At Outlander VC, we believe that many consequential companies of the next decade won’t be built in the cloud alone. They’ll be built in factories.

The foundational AI boom (and horizon commoditization) has delivered easy-to-access powerful models. You can build a wrapper or deploy an API overnight. The result? A flood of lookalike startups chasing ephemeral distribution moats.

But when you embed intelligence into physical systems – into drones, vehicles, vessels, robots – you shift the playing field. Software is getting easier and easier to copy. 

Physics isn’t so simple.

Hardware introduces real constraints: supply chains, manufacturing, motion, autonomy, edge sensing, and more. In today’s era, what used to be considered a hindrance can now be an advantage. Mastering how to navigate those constraints provides a layer of defensibility that just doesn’t exist in the software world anymore.

Over the last ten years, it was considered suicide by many to build a hardware company without $50M in venture funding. We were ahead of the curve then, backing companies like Coco and Skyways in years where robotics investments made up less than today’s estimated 10% of venture dollars. And we see a massive potential transformation ahead. 

Today, founders can build prototypes quickly with off-the-shelf components or leveraging 3D printing for rapid iterations. With generative design and additive optimization tools like MecAgent or Vixiv, bringing your imagination to life in the physical world is happening faster and faster too. 

The bottom line is this: we’re not anti-software; in fact we’re still extremely bullish on certain vertical and horizontal AI plays so continue to make active investments in what we believe will be transformative technologies in the app layer. But we do believe that some of the biggest problems in the world for the next 10 to 20 years and beyond will be solved by founders who ship things, not just code.

And to help the founders out there who share this vision of the future world, we’ve put together a list of 25 investors cutting checks at the earliest stages into industrial-focused tech startups. 

These are the firms that, like us at Outlander VC, are backing ambitious founders at the very beginning, funding ideas that are reimagining how the physical world is built, moved, powered, and automated.

Top Pre-seed Industrial Tech VCs

1. Outlander VC
Stage: Pre-seed, Seed
Check Size: $500K–$2.5M
Focus: AI for the Physical World, Robotics, Space, and more (Generalist fund)
Notable Investments: ScaleAI, Coco, REGENT
Website: outlander.vc 

2. Activate Capital Partners
Stage: Pre-seed, Seed
Check Size: $250K–$1M
Focus: Factory automation, climate industrials, industrial IoT
Website: activatecap.com

3. Alchemist Accelerator
Stage: Pre-seed
Check Size: $150K–$500K
Focus: B2B industrial tech, robotics, manufacturing
Website: alchemistaccelerator.com

4. Alumni Ventures
Stage: Pre-seed–Series A
Check Size: $100K–$3M
Focus: AI, robotics, deep tech
Website: av.vc

5. BlueBear Capital
Stage: Pre-seed, Seed
Check Size: $500K–$2M
Focus: Robotics, energy infrastructure, autonomy
Website: bluebearcap.com

6. Boost VC
Stage: Pre-seed
Check Size: $500K
Focus: Frontier tech, aerospace, robotics
Website: boost.vc

7. Brickyard
Stage: Pre-seed, Seed
Check Size: $300K–$500K
Focus: Robotics, automation, technical teams
Website: justlaybrick.com

8. Construct Capital
Stage: Pre-seed, Seed
Check Size: $2M–$4M
Focus: Robotics infrastructure, industrial SaaS, logistics
Website: constructcap.com

9. Contrarian Thinking Capital
Stage: Pre-seed, Seed
Check Size: $150K–$250K
Focus: Robotics, logistics, modernizing industrial workflows
Website: contrarianthinkingcapital.com

10. Cybernetix Ventures
Stage: Pre-seed, Seed
Check Size: $300K–$1.5M
Focus: Robotics, industrial autonomy, manufacturing automation
Website: cybernetix.vc

11. Detroit Venture Partners (DVP)
Stage: Pre-seed, Seed
Check Size: $100K–$500K
Focus: Industrial automation, manufacturing tech, mobility
Website: detroitventurepartners.com

12. DO Venture Partners
Stage: Pre-seed, Seed
Check Size: $300K–$1.2M
Focus: Robotics, automation, deep industrial software
Website: doventurepartners.com

13. Embark Ventures
Stage: Pre-seed, Seed
Check Size: $300K–$1M
Focus: Robotics, autonomy, technical founders
Website: embark.vc

14. Fifty Years
Stage: Pre-seed, Seed
Check Size: $250K–$500K
Focus: Hardtech, industrial systems, robotics, climate hardware
Website: fiftyyears.com

15. Future Ventures
Stage: Pre-seed, Seed
Check Size: $500K–$2M
Focus: Tough tech, industrial robotics, climate + hard tech
Website: future.ventures

16. GoAhead Ventures
Stage: Pre-seed, Seed
Check Size: $100K–$500K
Focus: Deep engineering teams, robotics, autonomy
Website: goaheadvc.com

17. Heroic Ventures
Stage: Pre-seed
Check Size: $200K–$1M
Focus: Robotics, autonomy, defense-aligned hard tech
Website: heroicvc.com

18. Ironspring Ventures
Stage: Pre-seed, Seed
Check Size: $300K–$1.5M
Focus: Manufacturing innovation, construction, supply chain
Website: ironspring.com

19. Mana Ventures
Stage: Pre-seed
Check Size: $250K–$750K
Focus: Climate industrials, materials, space, hardtech
Website: manaventures.com

20. Pathbreaker Ventures
Stage: Pre-seed, Seed
Check Size: $250K–$600K
Focus: Robotics, AI, deep tech
Website: pathbreakervc.com

21. Precursor Ventures
Stage: Pre-seed
Check Size: $250K–$750K
Focus: Founder-first investing, deep tech, industrial-adjacent hardware
Website: precursorvc.com

22. Razor’s Edge Ventures
Stage: Pre-seed, Seed
Check Size: $250K–$1M
Focus: Autonomy, sensing, industrial AI, dual-use hardware
Website: razorsedge.vc

23. Right Side Capital Management
Stage: Pre-seed
Check Size: $200K–$500K
Focus: High-volume pre-seed, robotics and deep tech
Website: rightsidecapital.com

24. RockYard Ventures
Stage: Pre-seed, Seed
Check Size: $100K–$500K
Focus: Construction, manufacturing, supply chain
Website: rockyardventures.com

25. The Engine
Stage: Pre-seed, Seed
Check Size: $250K–$2M
Focus: Tough tech, industrial platforms, robotics, energy systems
Website: engine.xyz

How Space Startups can Start Working with the Government

Guest: SpaceWERX Director Arthur Grijalva

Host(s): AJ Smith, Donavan Moss

This is the first episode of Outlander Overmatch, our new series built to give founders fast, actionable insight straight from real DoD buyers, innovators, and operators. In this conversation, we sat down with Arthur Grijalva, Director of SpaceWERX, to talk about how space startups can successfully work with the U.S. government.

If you have not heard of SpaceWERX, they are the innovation arm of the U.S. Space Force. Each year, they invest over $460M in startups tackling the most urgent challenges in space. Their mission is to bring game-changing commercial capabilities into national security. If you are building for space and want your technology to move from prototype to government procurement, understanding how SpaceWERX operates is a critical first step.

Watch the full interview below and read on for five takeaways from our conversation with Arthur.

https://vimeo.com/1109753884?share=copy#t=0

1. They invest early, but scalability matters

SpaceWERX takes early risks, backing ideas as early as the white-paper stage. They might seed your concept with about $75K to prove feasibility or fund $1.25M–$2.25M to build a prototype through a Phase II. Larger opportunities come later through Strategic Funding Increase (STRATFI) awards, which combine SpaceWERX, program office, and private capital into efforts that can reach $60M+. At every step, they focus on whether your tech can scale into an operational capability for the Space Force.

2. Dual-use thinking reduces your risk

Arthur breaks dual-use into “little C” (mostly defense-focused with private capital interest) and “big C” (commercially ubiquitous, like GPS). Both can work. The point is to avoid relying entirely on the government as your only customer. A credible commercial path (even if it’s just on your future roadmap) gives you staying power.

3. Show up before you need funding

One of the biggest mistakes SpaceWERX sees is poor timing; companies showing up only when they need funding. Instead, engage early. Attend events, join programs, and build relationships before you ask for money. If they already know you and your tech, it is far easier to get pulled into funded opportunities.

4. Align with current priorities

If you can help the Space Force with space superiority, orchestration of proliferated satellite constellations, or AI/ML for space operations, you are solving high-priority problems right now. These are areas where funding and partnerships are actively being built.

5. Plan for transition from day one

SpaceWERX designs every award with a transition partner in mind, but only a fraction of projects make it across the finish line. Founders who keep transition pathways front and center from the beginning have a much better chance of success.


This is just the start. In future episodes, we will be speaking with other stakeholders across the DoD to go deeper on how to navigate defense procurement, secure funding, and scale inside this ecosystem.

If you are at the beginning of your journey and building technology with potential to serve both defense and commercial markets, apply for funding at www.outlander.vc

And follow us on LinkedIn to get alerts for future value-add content like this!

A conversation with Vixiv CEO Aaron Chow

There’s a moment in every founder conversation where the air in the room changes. With Aaron Chow of Vixiv, it happened when he casually mentioned that his platform had just generated twelve optimized drone component designs in 108 seconds. The engineers from the lab watching the demo had gone silent. “That would have taken us three months,” they finally said. “For one design.”

Edison’s famous quote about finding a thousand ways not to make a light bulb? That’s not historical trivia. That’s Tuesday at Northrop Grumman. That’s every hardware startup burning through runway trying to optimize a critical component.

Consider this mathematical reality: Between an empty space and a solid brick exists an infinite number of possible geometries. Traditional engineering is essentially random sampling from this infinite space, guided by intuition and experience. Even our fastest “move fast and break things” engineers are making educated guesses in a solution space too vast for human comprehension.

Engineering today:

  1. Engineer envisions a component
  2. Models it (weeks)
  3. Simulates it (days to weeks)
  4. Builds it (weeks to months)
  5. It fails in some unexpected way
  6. Return to step 1

The math is brutal: Optimizing for both thermal and mechanical performance doesn’t double your test matrix – it squares it. Add modal analysis for vibrations? Cubed. 

Imagine if this entire process could be inverted and if engineers could navigate directly to viable solutions. No guessing. No checking. Just rapid convergence on designs that work.

That’s what Vixiv has built. A physics-based prediction engine trained on actual material behavior, not theoretical models. 

How? They built tens of thousands of physical components and destructively tested every single one. This isn’t synthetic data or simulation results. It’s ground truth about how materials actually behave in the real world.

When base iteration drops from months to minutes, that squared or cubed matrix becomes tractable. You can explore the entire solution space, not just the corner your budget allows. This is how step-functions happen that change industries.

We’re entering an era where industrial leadership won’t be determined by who has the biggest factories or the most engineers. It will be determined by who can iterate fastest and deliver results. The race is on. And Vixiv is helping fuel that future.

To learn more about Vixiv, watch my interview with Aaron (below) or head on over to www.vixiv.net to request private beta access.

We’re witnessing the most consequential shift in enterprise software since the cloud migration. As compute costs plummet and GPU access becomes commoditized, a massive value capture opportunity is evolving in enterprise applications. Meta’s recent multi-billion dollar stake in Scale AI (a company we backed with their first VC check in 2016) signals what insiders already know: while infrastructure consolidates, the application layer is wide open for disruption.

But here’s the challenge every enterprise AI founder faces: navigating the fundraising maze at the idea stage. You’ll pitch dozens of firms, get enthusiastic meetings, only to hear “we love this, but you’re too early for us.” Many funds simply don’t write checks until seed or later, regardless of how compelling the opportunity.

The Outlander VC team has been backing idea-stage startups for 15 years. So, to help founders out there building towards an amazing vision…who want to know which VCs are actually cutting the early checks, we’ve put together a list of twenty-five VC funds backing enterprise AI companies at the pre-seed.


Outlander VC

The Outlander VC team is known for making bold, founder driven bets pre-product and revenue, and has been a first or early investor in more than 15 unicorns, including Scale AI. As the first check in Scale AI in 2016, Outlander VC is a true pre-seed lead and has had a finger on the pulse of the enterprise AI space for a while and is actively deploying out of their third fund now.

Stage: Pre-Seed, Seed
Check Size: $750K–$2.5M
Focus: AI/ML, SaaS, Defense Tech, FinTech, Consumer Tech
Notable Investments: Scale AI, Rinse, Coco Robotics
Website: https://outlander.vc/
Apply: Click Here


2048 Ventures

A thesis-driven fund focused on exponential technologies including AI, deep tech, and automation. They back technical founders building enterprise solutions that leverage artificial intelligence and machine learning.

Stage: Pre-Seed, Seed
Check Size: $300K–$600K
Focus: AI/ML, Fintech, Deep Tech, Health and Bio
Notable Investments: Airspace Link, Aerdome, GlossGenius
Website: https://www.2048.vc/
Apply: Click Here


640 Oxford

Manufacturing and industrial automation investors focused on AI-driven production and smart factory technologies. They specialize in vertical SaaS solutions that leverage AI for industrial applications.

Stage: Pre-Seed, Seed
Check Size: $250K–$400K
Focus: AI-Driven Production, Vertical SaaS, Smart Factory Tech
Notable Investments: Melrose, Aurelius, Pet’s Table
Website: https://640oxford.com/
Apply: Contact form on their website


a16z Speedrun

Originally focused on gaming, a16z’s accelerator program has expanded to include AI and tech companies, now investing up to $1M per company (increased from $750K). Their 12-week program has backed companies like Hedra (AI video creation) and k-ID, with applications open for their Fall/Winter 2025 cohort.

Stage: Pre-Seed, Seed
Check Size: $750K-$1M
Focus: AI, Gaming, Entertainment, Creative Tools
Notable Investments: k-ID, Hedra, Flat2VR Studios
Website: https://speedrun.a16z.com/
Apply: Click Here


Afore Capital

Technical investors focused on AI/ML, SaaS, and FinTech with a particular emphasis on enterprise applications. They back founders building AI-powered solutions for business workflows and financial services.

Stage: Pre-Seed
Check Size: $500K–$2M
Focus: AI/ML, SaaS, FinTech
Notable Investments: Highlight, Kubecost, Factor
Website: https://www.afore.vc/
Apply: Apply


AI Fund

Founded by Andrew Ng, this unique venture studio doesn’t just invest—they co-found companies from scratch with entrepreneurs. With $370M+ raised and 35 portfolio companies, they actively participate in strategy, coding, and recruitment, recently launching companies like Gaia Dynamics (AI tariff compliance) and SkyFire AI (autonomous drones).

Stage: Pre-Seed, Seed
Check Size: $250K–$1M
Focus: AI/ML, Enterprise Applications, Industry-Specific AI
Notable Investments: Gaia Dynamics, SkyFire AI, Workhelix, Profitmind
Website: https://aifund.ai/
Apply: Click Here


Amplify Partners

Enterprise technology investors with deep expertise in AI/ML, SaaS, and cybersecurity. They focus on technical founders building intelligent enterprise software and have a strong track record in AI applications.

Stage: Pre-Seed, Seed
Check Size: $500K–$3M
Focus: AI/ML, SaaS, Cybersecurity
Notable Investments: Hex, Hightouch, Runway
Website: https://www.amplifypartners.com/ 


Audacious Ventures

A $150M pre-seed and seed stage fund dedicated to backing the most ambitious founders.

Stage: Pre-Seed, Seed
Check Size: $500K-$3M
Focus: AI/ML, B2B SaaS
Notable Investments: Jamix, Planette
Website: https://www.audacious.co/

Bee Partners

Specialists in three specific vectors: Human Machine Interaction (HMI), Machine-to-Machine Learning (M2ML), and Biological Machines (BioM). Recent enterprise AI and industrial automation investments include companies like TensorStax and Sourcetable that align perfectly with their thesis.

Stage: Pre-Seed
Check Size: $500K-$1.5M
Focus: HMI, M2ML, BioM
Notable Investments: TensorStax, Sourcetable, Deepscribe
Website: https://beepartners.vc/
Apply: Click Here


BetaWorks

A hybrid venture capital firm and startup studio that has been building and investing in startups for over a decade. They focus on AI/ML applications and have a track record of early investments in platforms that became foundational internet infrastructure.

Stage: Pre-Seed, Seed
Check Size: $250K–$750K
Focus: AI/ML, Web3, Decentralization
Notable Investments: Airbnb, Kickstarter, Tumblr
Website: https://www.betaworks.com/
Apply: Click Here


Comma Capital

SaaS and enterprise tooling investors with growing focus on AI applications through their operator community. They leverage their network of operators to identify and support AI-powered enterprise solutions.

Stage: Pre-Seed, Seed
Check Size: $100K–$1M
Focus: SaaS, FinTech, Digital Health, AI Enterprise Tools
Notable Investments: Pylon, Cassidy, Inngest
Website: https://comma.vc/ 


Crossbeam Venture Partners

Platform economy and enterprise B2B investors with increasing focus on AI-powered tooling. They invest in companies building intelligent business solutions and AI-enhanced enterprise platforms.

Stage: Pre-Seed, Series A
Check Size: $500K–$3M
Focus: Platform Economies, FinTech, Enterprise B2B, AI Tooling
Notable Investments: Firsthand (AI agent platform), Rubie, DocJuris
Website: https://www.crossbeam.vc/ 


Differential Ventures

Enterprise AI specialists focusing on data science, ML infrastructure, and cybersecurity applications. They have deep technical expertise and focus on B2B companies building AI-powered enterprise solutions.

Stage: Pre-Seed, Seed
Check Size: $250K–$1M
Focus: Enterprise AI, Data Science, ML Infrastructure, Cybersecurity
Notable Investments: Ocrolus, Reonomy, EdgeIQ
Website: https://www.differential.vc/ 


Exceptional Capital

B2B enterprise software investors with growing emphasis on AI/ML applications. They focus on technical founders building intelligent business solutions and have backed several AI-focused companies in their portfolio.

Stage: Pre-Seed, Seed
Check Size: $100K–$1M
Focus: B2B Enterprise Software, AI/ML
Notable Investments: Monterey AI, Coactive, LastMile AI, Gradient Labs
Website: https://www.exceptionalcap.com/ 


First Round Capital

First Round has made 17 investments already in 2025 and focus exclusively on earliest-stage companies. With 14 unicorns in their portfolio including Notion and Uber, they back founders when they often have just an “imagine if.”

Stage: Pre-Seed, Seed
Check Size: $250K–$1M
Focus: Enterprise, AI/ML, B2B SaaS, Hardware
Notable Investments: Notion, Uber, Roblox
Website: https://firstround.com 


Glasswing Ventures

Enterprise-focused investors specializing in AI, cybersecurity, and B2B solutions. They partner with technical founders building intelligent enterprise software and have deep domain expertise in AI applications for business.

Stage: Seed, Series A
Check Size: $1M-$5M
Focus: AI/ML, B2B Enterprise, Cybersecurity
Notable Investments: Ship Angel, Retrocausal, Telmai
Website: https://glasswing.vc/ 


GoAhead Ventures

A people-first fund that leads ~40 deals per year with a founder-friendly 6-day decision process. They focus on pre-seed and seed companies across all technology sectors, with particular interest in AI/ML and data-driven companies, and have raised over $200M+ in committed capital.

Stage: Pre-Seed, Seed
Check Size: $200K–$1M
Focus: AI/ML, All Technology Sectors, Data-Driven Companies
Notable Investments: STRATxAI, GigEasy, Paratus Health
Website: https://www.goaheadvc.com/ 


Gradient Ventures

Google’s AI-focused venture fund that invests in early-stage startups building with artificial intelligence. They provide unique access to Google’s AI research, infrastructure, and technical expertise.

Stage: Pre-Seed, Seed
Check Size: $750K–$8M
Focus: AI/ML, Automation, Enterprise AI
Notable Investments: Lambda, Streamlit, FlutterFlow
Website: https://www.gradient.com/ 


Hustle Fund

A diverse-focused fund that backs underrepresented founders at the pre-seed stage. They’ve been increasingly active in AI/ML investments and pride themselves on being founder-friendly with quick decision-making.

Stage: Pre-Seed, Seed
Check Size: $50K-$750K (Sweet Spot $150K)
Focus: AI/ML, FinTech, Healthcare
Notable Investments: Webflow, NerdWallet, Branch
Website: https://www.hustlefund.vc/
Apply: Click Here


K9 Ventures

A boutique fund known for early investments in transformative companies like OpenAI, Slack, and Airbnb. They focus on enterprise applications and AI/ML solutions, requiring warm introductions due to their selective approach.

Stage: Pre-Seed
Check Size: $100K-$750K (Sweet Spot $400K)
Focus: AI/ML, Healthcare, SaaS, Enterprise Applications
Notable Investments: OpenAI, Slack, Lyft
Website: https://www.k9ventures.com/ 


M25

M25 is an early-stage venture firm based in Chicago, investing solely in tech startups headquartered in the Midwest.

Stage: Pre-Seed, Seed
Check Size: $250K-$1M
Focus: AI/ML, HealthTech, FinTech, Vertical SaaS
Notable Investments: Astronomer, Arrellio, Prediction Guard
Website: https://www.m25vc.com/


Notation Capital

Early-stage investors focused on emerging technologies including AI/ML, blockchain, and health tech. They back technical founders building innovative solutions across these verticals.

Stage: Pre-Seed
Check Size: $400K–$750K
Focus: AI/ML, Blockchain, Health Tech
Notable Investments: Alice, Parsec, Solana
Website: https://notation.vc/ 


PearX

The pre-seed arm of Pear VC, focusing on the earliest stage investments in technical founders. They back companies at the idea stage with strong technical teams building in AI/ML, SaaS, and climate technology.

Stage: Pre-Seed
Check Size: $250K-$2M
Focus: AI/ML, SaaS, Climate Tech
Notable Investments: Affinity, Aurora, DoorDash
Website: https://pear.vc/pearx/
Apply: Get notified when applications open


Precursor Ventures

Known for backing underrepresented founders and making 75-100 investments per fund, they focus on first institutional rounds for B2B and B2C software applications with a particular emphasis on diverse founding teams.

Stage: Pre-Seed, Seed
Check Size: $250K–$500K
Focus: B2B Software, B2C Software, Connected Hardware
Notable Investments: The Athletic, Bobbie, Carrot Fertility, Modern Health, Clearco
Website: https://precursorvc.com/


Venrex

London-based early-stage fund with 20+ years of experience backing breakthrough companies like Revolut, Rippling, and Just Eat. While known for consumer successes, they actively invest in enterprise applications and recently backed AI companies like SponsWatch, with 10 investments in 2024 and continued deployment in 2025.

Stage: Pre-Seed, Seed
Check Size: $500K-$2M
Focus: Enterprise Applications, Consumer Tech, AI/ML
Notable Investments: Revolut, Rippling, Just Eat, SponsWatch
Website: https://venrex.partners/


AI is evolving quickly, and the best investors are the ones who are willing to commit before the rest of the world catches on. The firms listed here are backing real companies, at the very beginning, with capital and conviction. If you are building something ambitious with artificial intelligence at its foundation, we at Outlander VC would love to hear about it. Apply now

We’re thrilled to announce that Outlander has led the $3.5M Seed round in DiffuseDrive, a company that’s redefining how AI models see—and learn from—the physical world.

If you’ve ever worked in computer vision, you know the data problem. Real-world data is messy, expensive, and worst of all—limited. Training a model to drive a car, inspect a pipeline, or pilot a drone doesn’t just require millions of images. It requires collecting images of every edge case, every lighting condition, and every unexpected variable. Getting that data the traditional way—by deploying hardware into the world or building complex simulations—takes months or years and still only captures a small percentage of the data needed to build reliable models. DiffuseDrive does it in hours.

Bálint (CEO) and Roland (CTO) met while leading multi-million dollar efforts to build autonomous driving Ground Truth systems at Bosch, where they spent years wrestling with the scarcity of high-quality training data. They’ve seen firsthand how slow traditional data pipelines can hold back even the most capable models. What started as an internal innovation effort turned into a conviction: The only way to truly scale physical AI was to rethink data generation from the ground up. So Bálint and Roland left Bosch and started DiffuseDrive to solve the problem their way.

What sets DiffuseDrive apart isn’t just their speed or visual fidelity. It’s the way the platform closes the loop. The solution analyzes gaps in a customer’s existing training images, then generates photorealistic, perfectly annotated synthetic images to fill those gaps—on demand, tuned to specific sensors, and validated against real-world benchmarks. It’s data infrastructure for the next generation of autonomous systems. 

As Bálint puts it, “The future of AI is in how it interacts with the real world. And real-world AI needs real-world-grade data—fast. We’re not just making synthetic images. We’re building infrastructure to make physical AI systems smarter every day. Anyone can generate pretty images,” he said. “But data that actually improves model performance—that’s the hard part. That’s what we’ve solved.”

From the outset, they’ve been customer-first. Even before incorporation, they were delivering pilot datasets to enterprise design partners. Bálint still leads every sale himself, not because they lack a team—but because he wants to hear customer feedback firsthand. Roland, meanwhile, has engineered a backend that integrates seamlessly with enterprise ML pipelines, and can generate asset-specific datasets in a matter of hours. The result is a company that’s unusually sharp in both vision and execution.

Their vision is ambitious: to be the foundational dataset powering autonomy across vehicles, satellites, robotics, and beyond. But they’ve already proven they can go from zero to traction in months, with real revenue, real customers (Denso, Continental, AISIN, and one of the largest Defense Primes), and real urgency. We believe synthetic data is one of the most powerful unlocks in AI today, that DiffuseDrive is the team to lead it, and that they will become the data infrastructure layer for the real world. 

Welcome, DiffuseDrive. We’re proud to be your partner in this next chapter.

Here at Outlander VC, we have a simple philosophy: pedigree doesn’t predict success.

Often the most transformational companies are built by visionaries who might not fit the traditional venture capital mold. That’s why we’re committed to backing exceptional founders from Day Zero—regardless of where they’re building, what city they call home, or whether they have fancy generational legacy degrees.

We don’t invest in credentials. We invest in vision, execution, intelligence, and character.

If you’re building something extraordinary—especially if you’ve been underestimated or overlooked—we created this list specifically for you.

We’ve curated 25 VC funding sources for underrepresented founders in 2025. These early-stage funds truly understand what it means to back brilliance early, and they’re actively investing in women, people of color, LGBTQ+ founders, immigrants, veterans, and others who’ve historically been left out of the conversation.

Outlander VC

Stage: Pre-Seed, Seed
Check Size: $750K–$2.5M
Focus: Visionary founders building software or hardware-enabled software. We’re spending time thinking about AI applications, autonomy, Future of Work, consumer tech, energy, infrastructure, health, and more (just no crypto, gaming, biotech/pharma, or CPG)

What Makes Us Different: We couldn’t care less where you went to school or who’s in your network—we care about your ability to build something world-changing.

Website: https://outlander.vc
Apply: Click Here 

January Ventures

Stage: Pre-Seed, Seed
Check Size: Varies, $250K-$750K
Focus: Diverse Founders, Software, Healthcare, SaaS
Website: https://www.january.ventures/ 
Apply: Click Here

Precursor Ventures

Stage: Pre-Seed, Seed, Series A
Check Size: Varies, $250K-4M
Focus: Underrepresented Founders, Female Founders, LGBTQ+
Website: https://precursorvc.com/
Apply:
Click Here

Female Founders Fund

Stage: Seed, Series A
Check Size: Varies, 500K – $750K.
Focus: Female Founders in B2B, Consumer, Healthcare, and Fintech
Website: https://femalefoundersfund.com/ 
Apply: Click Here

True Wealth Ventures

Stage: Seed
Check Size: $1M
Focus: Female Founders, healthcare and climate
Website: https://truewealthvc.com/
Apply: Click Here

BBG Ventures

Stage: Seed
Check Size: Varies
Focus: Female Founders in health, education, climate, and consumer
Website: https://www.bbgventures.com/
Apply: Click Here

Chingona Ventures

Stage: Pre-Seed, Seed
Check Size: Varies, $500K-$1.5M
Focus: Underrepresented Founders, Healthcare, Consumer, Tech Agnostic
Website: https://www.chingona.ventures/
Apply:Click Here

HearstLab 

Stage: Seed, Series A
Check Size: Varies
Focus: Female Founders, B2B Saas
Website: https://www.hearstlab.com/
Apply: Click Here

Level Up by Hearst

Stage: Pre-Seed, Seed
Check Size: $300K average
Focus: Black and Latinx Founders, Sector Agnostic
Website: https://www.levelupventures.com
Apply: Click Here

Westbound Equity

Stage: Early Stage
Check Size: $750K-$1.5M pre-seed, $2M Seed+
Focus: Underrepresented Founders, Consumer
Website: https://westboundequity.com/
Apply: ​​Get in Touch

Context Ventures

Stage: Early Stage
Check Size: Varies, ~$500K
Focus: Female Founders, Impact
Website: https://www.contextvc.com/ 
Apply: Click Here

Gaingels

Stage: Early Stage
Check Size: Varies, ~250K-$1M
Focus: LGBTQ+ and allies
Website: http://gaingels.com/ 
Apply: Click Here

The Helm

Stage: Early Stage
Check Size: Varies, ~$500K
Focus: Female Founders, Impact
Website: https://thehelm.co/
Apply: Get in Touch

Graham & Walker

Stage: Early Stage
Check Size: Varies, $25K-$400K
Focus: Female Founders
Website: https://grahamwalker.com/
Apply:Click Here

Hustle Fund

Stage: Seed
Check Size: Varies, $150K first check
Focus: Underrepresented Founders, Consumer, SaaS
Website: https://www.hustlefund.vc/
Apply: Click Here

Chai Ventures

Stage: Early Stage
Check Size: Varies
Focus: Female Founders
Website: https://chai-ventures.com/
Apply: Get in Touch

Harlem Capital

Stage: Pre-Seed, Seed
Check Size: Varies, $500K-$1M
Focus: Underrepresented Founders
Website: http://harlem.capital/
Apply: Click Here

Anthemis Group (Female Innovators Lab)

Stage: Early Stage
Check Size: Varies
Focus: Female founders, FinTech
Website: https://ecosystem.anthemis.com/female-innovators-lab/
Apply: Click Here

MaC Venture Capital

Stage: Pre-Seed to Series A
Check Size: Varies
Focus: Underrepresented Founders
Website: https://macventurecapital.com/
Apply:Get in Touch

Vamos Ventures

Stage: Seed
Check Size: Varies
Focus: Latinx, Underrepresented Founders
Website: https://vamosventures.com/
Apply: Click Here

Scout Ventures

Stage: Seed
Check Size: $2-5M
Focus: Veteran Founders
Website: https://www.scout.vc/
Apply: Get in Touch

Artemis Fund

Stage: Seed
Check Size: $750K – $1.5M
Focus: Diverse tech founders in fintech, commerce, and caretech
Website: https://www.theartemisfund.com/
Apply: Click Here

GingerBread Capital

Stage: Pre-Seed to Series A
Check Size: Varies
Focus: Female Founders
Website: https://gingerbreadcap.com/
Apply: Get in Touch

Wellington Access Ventures

Stage: Seed, Series A
Check Size: Varies
Focus: Underrepresented founders
Website: https://www.wellington.com/en-us/intermediary/capabilities/wellington-access-ventures
Apply: Get in Touch

Serena Ventures

Stage: Early-Stage
Check Size: Varies
Focus: Underrepresented founders
Website: https://www.serenaventures.com/
Apply: Get in Touch

Swizzle Ventures

Stage: Pre-Seed, Seed
Check Size: $100-$200K 

Focus: Women and wealth
Website: https://www.swizzle.vc/
Apply: Click Here

L’Attitude Ventures

Stage: Early Stage, Pre-Seed-Series A
Check Size: $1-2M

Focus: US Latinx entrepreneurs
Website: https://lattitudeventures.com/
Apply: Click Here

The Bottom Line

The future of innovation depends on the diversity of those shaping it.

It’s not enough to just say “anyone can be a founder.” We need to back that belief with real capital. These 25 funds (and many more) are doing exactly that—tearing down barriers, challenging outdated norms, and funding tomorrow’s leaders today.

And if you’re one of those founders with a world-changing vision? We want to hear from you.

Pitch us: Here

The healthcare industry is undergoing a massive transformation, driven by innovations in AI, digital health, value-based care, and tech-enabled services. From streamlining patient experiences to optimizing provider workflows, startups are redefining how care is delivered, accessed, and paid for. But building in HealthTech isn’t just about having a great product—it’s about securing partnerships with payers and providers, navigating complex regulatory hurdles, and proving real-world impact. The right investors don’t just bring capital; they bring deep expertise, industry relationships, and the strategic guidance necessary to scale successfully.

That’s why we’ve put together this curated list of 25 top HealthTech venture capital firms actively investing in 2025. These VCs are backing digital health, healthcare SaaS, payer/provider solutions, virtual care, women’s health, end-of-life, and tech-enabled services. More importantly, we’ve detailed how to approach them, giving founders a direct path to securing funding from investors who understand the nuances of scaling in this space.

If you’re building the future of healthcare through technology and innovation, this list is your roadmap to the right investment partners.

  1. Outlander VC

Featured Investors: Leura Craig, Abbie Strabala, Deepika Jonnalagadda, and AJ Smith.

Highlighted Investments: Clover Health, Classpass, Medely, and Fidari

Outlander VC is a generalist fund that has been first or early money in multiple high-impact HealthTech companies. In Fund III, Outlander invests at pre-seed and seed, writing initial checks between $500K and $2.5M+. While the firm does not invest in biotech or pharmaceuticals, Outlander is bullish on transformative healthcare technology—backing AI, automation, and deep-tech solutions that redefine how care is delivered, accessed, and optimized.

How to Apply: Fill out this form.

  1. Town Hall Ventures

Featured Investors: Anna Fagin, Robert Fuentes, Chris Gosioco, and Andie Steinberg

Highlighted Investments: Eleanor Health, Zing Health, Habitat Health, and Thyme Care

Town Hall Ventures seeks to partner with entrepreneurs who are as passionate as they are about changing the health care system. The fund is aiming to raise $400M for its fourth flagship fund, Town Hall Ventures IV and invests initial checks ranging from $5 to $25M across all stages. 

How to Apply: Reach out to the investors focused on deal sourcing listed above – network referrals work best. Learn more on their website.

  1. Define Ventures

Featured Investors: Lynne Chou O’Keefe, Chirag Shah, Hong Truong, and Chuka Esiobu

Highlighted Investments: Hims & Hers, Unite Us, Cohere Health, and Folx Health

Define Ventures is one of the largest funds focused on early-stage health tech companies. Define supports companies from incubation to series B. 

How to Apply: Reach out to anyone on the investor team – network referrals work best. Learn more on their website.

  1. Obvious Ventures

Featured Investors: Vishal Vasishth and Kahini Shah

Highlighted Investments: Virta, Galileo, Iterative Health and Devoted Health

Obvious Ventures was one of the first VC firms in the world to become a certified B Corp, and it has backed 100+ purpose-driven companies building transformative solutions to the systemic environmental and social challenges of our time. The firm’s three investment pillars are sustainable systems, healthy living and people power.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. FCA Ventures

Featured Investors: Andrew Bouldin, George Curran, and Andy Lutz

Highlighted Investments: Sondermind, Watershed Health, evolvedMD, and Virgo

FCA Venture Partners invests in digital health and technology enabled healthcare services companies across the seed to series B stages writing checks from $2-6M. 

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. F Prime Capital

Featured Investors: Stephen Knight, Jon Lim, Carl Byers, and Erica Lee

Highlighted Investments: Iora Health, Liazon, Patient Ping, and VitalWare

F Prime Capital, the CVC of Fidelity Investments, is a global venture capital firm that invests in seed through growth stage technology and healthcare companies, focusing on innovation and disruptive growth.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. Venrock Capital

Featured Investors: Bob Kocher, Camille Samuels, Nick Beim, Ethan Batraski
Highlighted Investments: Athenahealth, Devoted Health, Lyra Health, 10x Genomics

Venrock has been a powerhouse in healthcare and technology investing for over 50 years, with deep roots in healthcare IT, biotech, and tech-enabled services. They invest early and at growth stages, with a strong focus on value-based care, digital health, and enterprise SaaS for healthcare.

How to Apply: Reach out to their investment team through referrals. Learn more on their website.

  1. Activate Venture Partners

Featured Investors: Glen Bressner, Todd Pietri, Jarred Bressner, and Pierce Crowley

Highlighted Investments: Noom, Tabula Rasa Healthcare, Benefix, and Kaid Health

Activate Venture Partners has invested in over 100 tech-enabled healthcare and applied technology companies at the seed and early stage. 

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Contact form on their website.

  1. NEA

Featured Investors: Blake Wu, Michael Li, Hui Cheng, and Danielle Ezratty

Highlighted Investments: Anterior, Habitat Health, PayZen, and RevSpring

NEA has served as a partner to the founders and teams behind some of the most transformational innovations in healthcare and technology from early seed to the growth stage over the past five decades. 

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. CVS Health Ventures

Featured Investors: Alyssa Reisner, Sophia Michaels, and Faraz Rahman

Highlighted Investments: Abridge, Carbon Health, Main Street Health, and Maven

CVS Health Ventures is a corporate venture capital fund that invests in high-potential, early-stage and growth-stage companies focused on making healthcare more accessible, affordable, and simpler. 

How to Apply: Reach out to the investors specializing in early stage healthtech listed above – network referrals work best. Fill out the contact form on their website.

  1. Echo Health Ventures

Featured Investors: Dusty Lieb, Kurt Sheline, Omair Ahmed, and Jose Guerola

Highlighted Investments: Cityblock, Main Street Health, Upfront Healthcare, Eleanor Health

Echo Health Ventures invests in early to late stage healthcare companies. They have 30+ companies in their current portfolio. 

How to Apply: Reach out to any member of the investment team – network referrals work best. Learn more on their website.

  1. Flare Capital Partners

Featured Investors: Bill Geary, Victor Lanio, Margaret Malone, and Tara Sullivan

Highlighted Investments: Greater Good Health, Photon Health, Visana Health

Flare Capital Partners is an early-stage healthcare venture capital firm advancing innovation-driven companies to improve positive health outcomes, broaden care access, and lower healthcare costs.

How to Apply: Reach out to any member of their investment team – network referrals work best. Reach out on their website.

  1. B Capital

Featured Investors: Athena Shea, Ava Soltani, and Keenan McGuire

Highlighted Investments:

B Capital is a multi-stage investment firm supporting a startup’s unique needs throughout the journey from seed to market leadership. Within healthcare, they are focused on healthcare IT & SaaS, digital healthcare, biotechnology and bio IT, and healthcare insurance and payment.

How to Apply: Reach out to a member of the healthtech investment team listed above – network referrals work best. Learn more on their website.

  1. Company Ventures

Featured Investors: Matthew Harrigan, Nelson Schubart, Margaret Davidson, and Hunter Hillenmeyer

Highlighted Investments: Maven, Centivo, Stepful, and Octave

Company Ventures predominantly invests in digital health, fintech and enterprise SaaS businesses at pre-seed, seed and series A stages through our funds with a typical check size of ~$500K-$1M.

How to Apply: Reach out to any member of their investment team – network referrals work best. Learn more on their website.

  1. Amboy Street Ventures

Featured Investors: Carli Sapir, Sophie Reynolds, and Logan Rocket-Munk

Highlighted Investments: Evvy, Contraline, Alloy, and Bea Fertility

Amboy Street Ventures invests in Seed and Series A stages of cutting-edge Women’s Health and Sexual Health startups that address this untapped $1T market opportunity.

How to Apply: Reach out to any member of their investment team – network referrals work best. Learn more on their website.

  1. Primetime Partners

Featured Investors: Abby Levy, Alan Patricof, Ray Jang, and James Hueston

Highlighted Investments: Seen Health, Carewell, Isaac Health, and Safe Ride Health

Primetime Partners is a leading investor in longevity tech, across healthcare, fintech and consumer. The fund invests in seed stage as well as opportunistic series A companies.

How to Apply: Reach out to any member of their investment team – network referrals work best. Learn more on their website.

  1. AlleyCorp

Featured Investors: Brenton Fargnoli, Jane Suh, and Omar Njie

Highlighted Investments: Yuvo, Pi Health, Vori Health, and Cascade Health

AlleyCorp Healthcare is one of the most active early-stage investors in New York dedicated to healthcare. As a physician-led team, they build and invest $1-4M entry checks in companies that dramatically improve healthcare across quality, cost, and access from incubation through seed.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. Route 66 Ventures

Featured Investors: Benjamin Britt, Eric Dobosh, and Trent Myers

Highlighted Investments: Switchboard Health, Joon Care, Yuvo Health, and Inflow

Route 66 Ventures is focused on the Digital Health & Wellness market, investing in early stage idea-driven, technology companies that will change the world in positive ways and impact people’s lives.

How to Apply: Reach out to anyone on the investment team – network referrals work best. Learn more on their website.

  1. Primary Ventures

Featured Investors: Sam Toole, Marisa Bass, and Bryce Johnson

Highlighted Investments: Healthify, MIRROR, Alma, and Dandelion Health

Primary Ventures is a generalist fund writing checks ranging from $1-6M into NYC-based seed companies. Primary’s impact team actively works alongside portfolio companies to boost their growth by providing deep operational support.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. Optum Ventures

Featured Investors: Mike Cunningham, George Pantazopoulos, Richie Chaikof, and Courtney Good

Highlighted Investments: Alma, Humata Health, Anatomy, and Bunkerhill

Optum Ventures, a CVC of UnitedHealth Group, invests from seed to growth equity with a mission to promote healthcare innovation across the globe. Their 70+ portfolio companies include value-based care delivery, enterprise software and enabling infrastructure, and fintech, among others.

How to Apply: How to Apply: Reach out to any member of their investment team – network referrals work best. Learn more on their website.

  1. Zeal Capital

Featured Investors: Nasir Qadree and Emily Zhen

Highlighted Investments: Viu Health, Auxa Health, and Seven Starling

Zeal Capital is a Washington, DC-based venture capital fund investing in healthcare, fintech, and the future of work and learning at the seed and series A. Zeal leverages its Inclusive Investing strategy to narrow wealth, skills, and healthcare gaps in the US, and at scale globally.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. Gingerbread Capital

Featured Investors: Linnea Roberts, Ita Ekpoudom, Katherine Rice, and Elizabeth Valiaveedan

Highlighted Investments: Maven, Midi Health, Julie, and Spring Health

GingerBread Capital invests $150K-$2M+ in the next generation of women founders and entrepreneurs leading high-growth businesses from seed through series C. The fund has an investment focus in companies impacting women’s health.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

  1. OCA Ventures

Featured Investors: Bob Saunders, Michelle Cao, Sarah Manasvit, and Jagoda Rokicka

Highlighted Investments: Amplified Sciences, eBlu Solutions, mPulse Mobile, and Progentec

OCA Ventures invests in seed through series B companies in enterprise software, consumer software, fintech, and digital health with initial check sizes of $1-3M.

How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Fill out the form on their website.

  1. Lux Capital

Featured Investors: Josh Wolfe, Deena Shakir, David Yang

Highlighted Investments: Kalyope, Aera, Cala, Summer

Lux Capital is known for backing bold, frontier-tech companies pushing the boundaries of healthcare, biotech, and deep science. The firm invests across seed to growth stages, with a focus on startups leveraging AI, robotics, and next-gen therapeutics to reshape the healthcare landscape. 

How to Apply: Warm introductions work best. Learn more on their website.

  1. Lightspeed Ventures

Featured Investors: Galym Imanbayev and Shelley Chu

Highlighted Investments: Soda Health, Tennr, Abridge, and Fathom

Lightspeed backs founders early and supports from seed through Series F and beyond. 
How to Apply: Reach out to the investors specializing in healthtech listed above – network referrals work best. Learn more on their website.

Ever wondered how Scale AI grew to $14B by mastering government contracts? In this candid panel discussion, we sit down with Scale’s Director of Public Sector Deployment Strategy and veteran defense specialists to reveal their playbooks for success.

Why Watch:

Featuring Scale AI’s Shaliya Dehipawala, Frontera Group’s Thomas Williams, and Washington Office’s Evan Burfield, this is the guide we wish existed for every founder eyeing the federal market.

Watch now to unlock the full federal playbook.

Welcome to another deep dive into the minds of venture capital leaders who are shaping the startup ecosystem. In our latest Venture Visionaries conversation, we sat down with Alexa Von Tobel, founder of Inspired Capital, to unpack her insights on what truly makes a founder—and a startup—successful.

With a background as a founder herself (LearnVest, acquired by Northwestern Mutual for nearly $400 million) and now managing almost $1 billion in investments, Alexa brings a unique perspective grounded in real-world entrepreneurial experience.

1. Obsession is the Founder’s Secret Weapon

Alexa believes the biggest pitfall for founders is building a business they don’t genuinely want to think about every day for the next 15 years. Her advice? If you’re not obsessed with the problem you’re solving, don’t start the company.

For Alexa, this personal obsession was deeply personal. After losing her father, she became passionate about democratizing financial planning—a mission that fueled LearnVest. Without that obsession, it may never have become one of the largest FinTech acquisitions of the decade.

Founder Takeaway: At Outlander, we love obsessed founders who are consumed by a problem–who see a future state that needs fixing and that you are the one to do it. Your startup should solve a problem that keeps you up at night. When the going gets tough, passion isn’t just motivational—it’s fundamental to your persistence.

2. Adaptability Over Resilience

Alexa champions adaptability. She believes the most successful founders aren’t just those who survive challenges, but those who thrive because of them.

Drawing from her podcast interviewing over 260 top founders, she’s observed a common trait: these entrepreneurs view stress as a catalyst for growth. Like Darwin’s principle of survival, it’s not the strongest who succeed, but those most adaptable to change.

Founder Takeaway: At Outlander, we love founders who have demonstrated resilience. But more important than having endured hardship is showcasing the ability to learn from it and adapt to ever-changing environments. Your ability to pivot and learn quickly may be the most valuable asset in your founder journey.

3. Capital Efficiency is Your Competitive Advantage

In today’s market, Alexa emphasizes the critical importance of being a smart capital allocator. The best founders understand that a business is essentially a machine: you put a dollar in with the expectation of generating multiple dollars in return.

She warns against unnecessary spending, especially in early stages. The most impressive founders are those who can turn on meaningful traction with minimal capital, demonstrating “scrappiness” that becomes part of the company’s DNA.

Founder Takeaway: Every dollar matters. Be strategic about resource allocation and prove you can create value with constraints.

4. The DNA of Startup Success

Alexa draws a powerful analogy from her experience founding LearnVest during the 2008 recession. Founders who start businesses during challenging times develop a different operational DNA—they learn to run at “50 miles per hour” when others might be moving at “6 miles per hour.”

This forged resilience becomes a core part of the company’s culture, creating teams that know how to operate efficiently and effectively, even when resources are limited.

Founder Takeaway: Your early-stage constraints can become your greatest strength. Embrace the challenge and let it shape your company’s culture.

Final Thoughts

Inspired Capital’s approach, much like our Founder Framework at Outlander VC, is about backing people, not just business models. It’s about finding founders who are relentless, adaptable, and deeply committed to solving meaningful problems.

For founders reading this: obsess over your mission, embrace challenges, be capital-efficient, and never stop learning. Your journey is just beginning.

Stay inspired and outlandish and, as always, be sure to pitch our team your vision at: www.outlander.vc 

You can learn more about Inspired Capital at https://www.inspiredcapital.com/ 

Watch the full interview:

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© Outlander VC. 2022.