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:
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.
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
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
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
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
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
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
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/
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/
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
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
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/
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/
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/
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 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
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/
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/
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/
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
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 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/
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/
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
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/
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.
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
Stage: Pre-Seed, Seed
Check Size: Varies, $250K-$750K
Focus: Diverse Founders, Software, Healthcare, SaaS
Website: https://www.january.ventures/
Apply: Click Here
Stage: Pre-Seed, Seed, Series A
Check Size: Varies, $250K-4M
Focus: Underrepresented Founders, Female Founders, LGBTQ+
Website: https://precursorvc.com/
Apply: Click Here
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
Stage: Seed
Check Size: $1M
Focus: Female Founders, healthcare and climate
Website: https://truewealthvc.com/
Apply: Click Here
Stage: Seed
Check Size: Varies
Focus: Female Founders in health, education, climate, and consumer
Website: https://www.bbgventures.com/
Apply: Click Here
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
Stage: Seed, Series A
Check Size: Varies
Focus: Female Founders, B2B Saas
Website: https://www.hearstlab.com/
Apply: Click Here
Stage: Pre-Seed, Seed
Check Size: $300K average
Focus: Black and Latinx Founders, Sector Agnostic
Website: https://www.levelupventures.com
Apply: Click Here
Stage: Early Stage
Check Size: $750K-$1.5M pre-seed, $2M Seed+
Focus: Underrepresented Founders, Consumer
Website: https://westboundequity.com/
Apply: Get in Touch
Stage: Early Stage
Check Size: Varies, ~$500K
Focus: Female Founders, Impact
Website: https://www.contextvc.com/
Apply: Click Here
Stage: Early Stage
Check Size: Varies, ~250K-$1M
Focus: LGBTQ+ and allies
Website: http://gaingels.com/
Apply: Click Here
Stage: Early Stage
Check Size: Varies, ~$500K
Focus: Female Founders, Impact
Website: https://thehelm.co/
Apply: Get in Touch
Stage: Early Stage
Check Size: Varies, $25K-$400K
Focus: Female Founders
Website: https://grahamwalker.com/
Apply:Click Here
Stage: Seed
Check Size: Varies, $150K first check
Focus: Underrepresented Founders, Consumer, SaaS
Website: https://www.hustlefund.vc/
Apply: Click Here
Stage: Early Stage
Check Size: Varies
Focus: Female Founders
Website: https://chai-ventures.com/
Apply: Get in Touch
Stage: Pre-Seed, Seed
Check Size: Varies, $500K-$1M
Focus: Underrepresented Founders
Website: http://harlem.capital/
Apply: Click Here
Stage: Early Stage
Check Size: Varies
Focus: Female founders, FinTech
Website: https://ecosystem.anthemis.com/female-innovators-lab/
Apply: Click Here
Stage: Pre-Seed to Series A
Check Size: Varies
Focus: Underrepresented Founders
Website: https://macventurecapital.com/
Apply:Get in Touch
Stage: Seed
Check Size: Varies
Focus: Latinx, Underrepresented Founders
Website: https://vamosventures.com/
Apply: Click Here
Stage: Seed
Check Size: $2-5M
Focus: Veteran Founders
Website: https://www.scout.vc/
Apply: Get in Touch
Stage: Seed
Check Size: $750K – $1.5M
Focus: Diverse tech founders in fintech, commerce, and caretech
Website: https://www.theartemisfund.com/
Apply: Click Here
Stage: Pre-Seed to Series A
Check Size: Varies
Focus: Female Founders
Website: https://gingerbreadcap.com/
Apply: Get in Touch
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
Stage: Early-Stage
Check Size: Varies
Focus: Underrepresented founders
Website: https://www.serenaventures.com/
Apply: Get in Touch
Stage: Pre-Seed, Seed
Check Size: $100-$200K
Focus: Women and wealth
Website: https://www.swizzle.vc/
Apply: Click Here
Stage: Early Stage, Pre-Seed-Series A
Check Size: $1-2M
Focus: US Latinx entrepreneurs
Website: https://lattitudeventures.com/
Apply: Click Here
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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:
Despite the long-documented gender gap in funding female* founders, there is good news for the ecosystem in the recent rise in women-led venture capital (VC) firms.
In 2023, women-led VC firms raised a record $3.5B in 2023 (up $500M from 2022). This still only accounts for roughly 3% of all venture funding raised in 2023, but represents a significantly promising step for the entire startup ecosystem.
Especially because the indication thus far is that women-led funds are more likely to invest in diverse founders, which research indicates actually correlates with better financial performance.
Here are some quick facts regarding female* founded companies for your next pitch:
We’ve put together a short list of 24 incredible women-led VC firms (24 for ’24!) that should absolutely be on your radar. There are many more, so be sure to tag them on our LinkedIn post to help more female* founders find great investors!
And, as always, be sure to submit your venture for our investment team here!
*female & female-identifying
Sources: VCJ, Pitchbook, BCG, Forbes
Featured Partners: Leura Craig and Bailie Salk
Highlighted Investments: Gusto, Lyft, Klarna, Wish, Scale, Andela, Postmates
Outlander VC is a leading venture capital firm with a remarkable track record, including 17+ unicorns among its ~150 portfolio companies. Under the leadership of Leura Craig, Outlander has become a top-decile performer and is actively deploying capital from its third fund. The firm is notable for its commitment to diversity, with half of its investment partners being women and 62% of its portfolio having diverse founders.
How to Apply: Fill out this form
Featured Partners: Susan Lyne, Nishua Dua
Highlighted Investments: Zola, The Mom Project, Lola, Winky Lux, Oova
BBG Ventures, under the leadership of Susan Lyne and Nishua Dua, invests in early-stage startups with at least one female founder. They are on Fund IV and actively hearing founder pitches.
How to Apply: Fill out this application
Featured Partners: Theresia Gouw, Lauren Kolodny
Highlighted Investments: Bilt, Gusto, Chime, Clara, Discord
Acrew Capital is a powerhouse in early-stage venture investing, led by Theresia Gouw and Lauren Kolodny. The firm is known for its strategic investments in fintech, cybersecurity, and consumer tech, driven by a leadership team that brings a wealth of experience and a commitment to diversity.
How to Apply: Contact us button on their website
Featured Partner: Aileen Lee
Highlighted Investments: Docsend, The League, Crunchbase, Enrich, Guild
Cowboy Ventures, led by Aileen Lee, is known for its strategic investments in software-focused startups. Aileen Lee’s experience and leadership have made Cowboy Ventures a key player in the early-stage venture capital arena.
How to Apply: Reach out directly (contact in footer)
Featured Partner: Anu Duggal
Highlighted Investments: Zola, Bentobox, Wayup, Winky Lux, Fable
Female Founders Fund, led by Anu Duggal, is a leading source of capital for women entrepreneurs. The firm’s investments span a variety of sectors, all united by their focus on female leadership and innovation.
How to Apply: Fill out this application form
Featured Partner: Leslie Goldman Tepper
Highlighted Investments: DressX, Fundid, The Good Patch
The Artemis Fund is a seed-stage fund focused on tech startups in fintech, commerce, and care sectors. Leslie Goldman Tepper’s leadership has positioned the firm as a key player in supporting diverse founders who are building the next generation of transformative companies.
Fill out this form
Featured Partners: Theresia Gouw, Jennifer Scott Fonstad
Highlighted Investments: Baublebar, Gusto, HotelTonight, TheRealReal
Aspect Ventures is a Series A-focused (selected seed participation) firm whose team has funded over 100 companies and participated in 350+ follow-on investments.
How to Apply: Contact via email (listed on their website)
Featured Partners: Dayna Grayson, Rachel Holt
Highlighted Investments: Uber, Copia, Incremental, Verve, Telegraph
Construct Capital, co-led by Dayna Grayson and Rachel Holt, focuses on early-stage investments in industries like manufacturing, logistics, and supply chain. The firm’s leadership team brings deep expertise to their investments, driving innovation in these foundational sectors.
How to Apply: Reach out via email (website footer)
Featured Partner: Kirsten Green
Highlighted Investments: The Farmer’s Dog, Chime, Ritual, him&hers, Oura, Glossier
Forerunner Ventures, under the leadership of Kirsten Green, specializes in investments in e-commerce and consumer brands.
How to Apply: Fill out this application form
Featured Partner: Roseanne Wincek & Renata Quintini
Highlighted Investments: Warby Parker, Masterclass, Dollar Shave Club
Renegade focuses on early-stage investments in AI/ML, Vertical SaaS, Enterprise, Consumer, FinTech, InfraTech, and more.
How to Apply: Check their website for updates on investment opportunities or reach out directly through their contact page.
Featured Partner: Rebecca Kaden
Highlighted Investments: Etsy, Twitter, Duolingo, Coinbase, Kickstarter
Union Square Ventures is a NYC-based VC, investing on the edge of large markets being transformed by technological and societal pressures.
How to Apply: Union Square Ventures prefers warm introductions, but they are also receptive to pitches sent via email (see website footer).
Featured Partner: Annie Kadavy
Highlighted Investments: Stripe, Snowflake, HashiCorp, Nubank
Redpoint invests across consumer and enterprise and they have partnered with thousands of inspiring entrepreneurs over the past two decades.
How to Apply: Redpoint Ventures accepts warm introductions, but you can also reach out via their website.
Featured Partner: Clara Sieg
Highlighted Investments: sweetgreen, DraftKings, TemperPack, Scopely
Revolution Ventures, HQ’d in Washington, D.C., invests in companies outside traditional tech hubs through their family of funds – Revolution’s Rise of the Rest Seed Fund, Revolution Ventures, and Revolution Growth – Revolution partners with entrepreneurs at every stage of the entrepreneurial lifecycle.
How to Apply: Networking and referrals are the best ways to approach them!
Featured Partner: Mary Meeker
Highlighted Investments: Canva, AirBnb, Doordash, Duolingo, Instacart, Clear, Peloton
Mary Meeker’s Bond Capital specializes in late-stage growth investments in high-potential companies, particularly those leveraging technology to scale rapidly.
How to Apply: The best approach is through a network referral!
Featured Partner: Mar Hershenson
Highlighted Investments: DoorDash, Gusto, Branch, Guardant Health
Pear VC is a seed-stage venture firm led by Mar Hershenson and Pejman Nozad, focusing on partnering with founders from the earliest stages of their journey.
How to Apply: Pear VC encourages founders to connect via their online application form.
Featured Partner: Aubrie Pagano
Highlighted Investments: Compass, Firstbase, Animoca, Classpass, Imperfect Foods
Alpaca VC, led by Aubrie Pagano, invests in companies reshaping the built world, leading rounds in real estate and commerce.
How to Apply: Send them an email (Listed in their footer)
Featured Partner: Kate McAndrew
Highlighted Investments: Figma, Notion, Clubhouse, Threads
Kate McAndrew leads Baukunst, a venture firm that invests in creators, builders, and entrepreneurs with a focus on creative and impactful technology & design.
How to Apply: Network introductions work best, but you can also reach out via email (see website footer)
Featured Partner: Dana Settle
Highlighted Investments: Venmo, Scopely, TheRealReal, Braintree, Boxed, Bumble
Greycroft focuses on early to growth-stage investments in technology companies across the globe with the potential to transform sectors.
How to Apply: Network introductions work best!
Featured Partners: Stephanie Palmeri and Melody Koh
Highlighted Investments: Grove Collaborative, ThredUp, Skillshare, Whoop, Attentive
NextView makes initial pre-seed & seed stage investments (checks between $400k – $4m) into software and AI companies redesigning the everyday economy.
How to Apply: The best way to get in touch is through a referral, but you can also contact through their website!
Featured Investor: Monique Woodard
Highlighted Investments: Pamper, Eli Health, mama, Bright, Serif
Cake Ventures invests in pre-seed & seed stage companies that reflect demographic change: aging & longevity, increased spending power of women, and the shift to majority-minority.
How to Apply: Apply here.
Featured Partner: Jesse Draper
Highlighted Investments: Everlywell, Inked, Metropolis, Live Tinted
Halogen Ventures is an early stage venture capital fund investing in consumer technology companies led by women and based in Los Angeles.
How to Apply: Apply here.
Featured Partner: Shadi Mehraein, Rebeca Hwang, Christina Brodbeck
Highlighted Investments: Athena, Honeybook, Ritual, Mayvenn
Rivet Ventures invests in companies where women are the key consumer demographic, focusing on companies with products or services that cater to women’s needs.
How to Apply: Contact via email (listed here).
Featured Partner: Shripriya Mahesh & Sara Eshelman
Highlighted Investments: Telo, Eli, Remark, Oova
Spero Ventures invests in founders building mission-driven technology companies in three focus areas: wellbeing; sustainability; learning, work, and play. They prefer to lead or co-lead a $3M-$10M round (late seed or Series A), typically writing checks from $2M – $4M.
How to Apply: Network introductions work best!
Featured Partner: Mercedes Bent
Highlighted Investments: OutSchool, Flink, Stori
Mercedes joined us a couple months ago for one of our most highly-attended Venture Visionary interviews. Lightspeed has added multiple female investing partners in the last few years. They love backing founders early and support from seed through Series F and beyond.
How to Apply: Network introductions work best!
Global geopolitical tensions have reached their highest levels since WWII. 92 countries are currently involved in conflicts beyond their borders and the Global Peace Index has measured “peacefulness” declining in nine out of the last ten years. The push to decrease human casualties, combined with recent technological advances, has created a new environment that has governments turning to the historically innovative private sector to stay competitive and defend against potential threats.
In the last three years alone, U.S. venture capital (VC) funds have injected over $100B into defense-tech companies. And while Department of Defense (DoD) contracts have typically been awarded to established players like Lockheed Martin, RTX, Northrup Grummon, and others, DoD innovation organizations (e.g., DIU, AFWERX, NavalX, and more) are increasingly working with startups to source innovative solutions.
As founders consider investment partners for their defense or dual-use technology ventures, we’ve put together a list of top funds to consider. And if you are an investor and think you should be on this list, contact us!
Outlander VC
About: Top decile-performing generalist pre-seed fund, led by U.S. Marine Corps veteran and defense & intelligence-tech founder Paige Craig, investing at the earliest stages (often first check in).
Stages: Mostly Pre-Seed to Seed
Notable Investments: Scale, ID.me, SpaceX, REGENT, Skyways, Havoc, Vidrovr, Next Stage
How to Apply: Apply directly through this form
Moonshots Capital
About: With 13 unicorns and 27 total exits, Moonshots is a veteran-led seed & early Series A fund investing in bold founders.
Stages: Seed to Series A
Notable Investments: Slack, LinkedIn, Carta, ID.me, Red 6
Application: Submit proposals through their website
Point72 Ventures
About: Point72 Ventures is the VC arm of Point72 Capital and has a team that includes Managing Partner Dan Gwak, a U.S. Marine Corps veteran turned investor.
Stages: Pre-Seed to Growth
Notable Investments: Shield AI, Vannevar Labs, STOKE Space, Saronic, REGENT
How to Apply: The best way to be considered is to get an intro to a relevant investing partner, but you can also email directly to ideas@p72.vc
Alumni Ventures
About: A top-quartile performing venture fund that also invests in defense & dual-use technologies.
Stages: Pre-seed to Growth
Notable Investments: Unstructured.io, Red 6, Picogrid, Antares Industries, Edgescale AI, Sphere Semi
How to Apply: Apply directly through this form
Decisive Point Ventures
About: A VC fund focused on making early-stage investments in technology for government, public safety, and defense.
Stages: Predominantly Seed & Series A
Notable Investments: Scout Space, Radiant, Aloft, Firehawk Aerospace
How to Apply: The best way to be considered is to get an intro to a relevant investing partner, but you can also email directly to info@decisivepoint.com
First In Ventures
About: Veteran-led fund investing in security tech solutions across commercial, military, or intelligence sectors.
Stages: Predominantly Pre-Seed & Seed
Notable Investments: Anduril, Shift5, RedOwl, Syncurity
How to Apply: Fill out this form
RTX Ventures
About: Venture capital division of RTX (formerly Raytheon Technologies). Led by Daniel Ateya
Stages: Predominantly Seed & Series A
Notable Investments: Ursa Major, Hermeus, EnCharge AI, Tomorrow.io
How to Apply: Contact through the RTX Ventures website
In-Q-Tel
About: CIA-contracted investment fund, designed to source innovative information technology solutions for the Central Intelligence Agency. Led by Steve Bowsher.
Stages: Seed, Series A, sometimes later
Notable Investments: Palantir, Databricks, MongoDB, Anaconda
How to Apply: Apply directly through this form
Shield Capital
About: Former DoD Defense Innovation Unit leader and former Symantec CEO Michael Brown became a partner at Shield Capital in 2023 to invest in dual-use defense, cybersecurity, and space companies.
Stages: Seed to Series B
Notable Investments: Nexla, Apex, ASI, Rebellion
Application: Apply directly through this form
a16z’s American Dynamism
About: Andreesen Horowitz’s American Dynamism practice invests in founders and companies that support the national interest: aerospace, defense, public safety, education, housing, supply chain, industrials, and manufacturing.
Stages: Seed to Growth
Notable Investments: Anduril, Apex, Hadrian
How to Apply: Reach out or get an intro to a relevant investing partner
Silent Ventures
About: Early stage venture firm that invests in exceptional founders building unrivaled aerospace, defense, and national security companies.
Stages: Predominantly Pre-Seed & Seed
Notable Investments: Hadrian, Armada AI, Firestorm
How to Apply: Apply or reach out on LinkedIn
Lockheed Martin Ventures
About: The VC arm of defense giant, Lockheed Martin, doubled its fund commitment from $200M to $400M in 2022, rooted in its belief that the most dynamic defense innovations will come from startups.
Stages: Pre-seed to Growth
Notable Investments: Elroy Air, Hawkeye 360, Heilcity Space, X-Bow
How to Apply: Apply directly through this contact form
Champion Hill Ventures
About: Led by a former infantry and combat engineer officer in the US Marine Corps, Champion Hill has invested in some of the hottest defense tech & space startups.
Stages: Pre-Seed to Seed
Notable Investments: SpaceX, Anduril, and Umbra
How to Apply: Get an intro to or reach out to Managing Partner Josh Manchester.
Insight Partners
About: Generalist VC, increasingly making investments in defense-focused startups
Stages: Pre-seed to Growth
Notable Investments: Rebellion, Tenable, Digital Harbor
Application: Apply through their website
Lux Capital
About: Science & technology venture fund, making strategic investments to protect America’s economic security.
Stages: Any stage
Notable Investments: Anduril, Hadrian, Saildrone
Application: Connect with (or get introduced to) a relevant investing partner
Starburst Ventures
About: Aerospace & Defense investor for America and its allies.
Stages: Seed to Series A
Notable Investments: Strong Compute, Outpost, Aerocloud
Application: Join one of their accelerators or submit proposals through their website
Scout Ventures
About: Early-stage venture capital firm that invests in frontier technologies built by founders from the military, its intelligence community, and national research labs.
Stages: Seed to Series B
Notable Investments: ID.me, Radical, Voyager Space, Tomahawk Robotics
Application: Submit proposals through their website
For founders of dual-use start-ups seeking funding, Outlander VC offers unparalleled expertise and strategic support. If you are a defense technology start-up seeking funding and strategic guidance, apply to Outlander VC today.
Welcome back to Venture Visionaries, a new series brought to you by Outlander VC. Hosted by Paige Craig, Managing Partner at Outlander VC, this series explores what sets these investors apart and provides unique insights into their perspectives on the startup world. Join us as we sit down with some of the most influential investors in the industry, uncovering the secrets behind their success and learning how they navigate the ever-changing landscape of investing.
From their investment strategies to their predictions for the future, we’ll bring you inspiring conversations that’ll resonate with aspiring entrepreneurs and anyone curious about the world of venture capital.
This month, we had the pleasure of sitting down with CRV’s Saar Gur, who has invested in household-name companies like DoorDash, Ring, Patreon, and AirTable. Below, you’ll find three of our favorite takeaways from that conversation, but you can also watch the full interview here. Let’s dive in!
One of the standout messages from our conversation with CRV’s Saar Gur was that when he invested in Patreon, DoorDash, and Ring, for example, they weren’t obvious. In Gur’s own words, they were actually, “pretty funky” at the time.
But Gur has found a lot of investment success in looking towards the weird and wonderful, to the less obvious solutions that have early utility and could therefore make a convincing case of mainstream viability. In some cases, Gur argues that “the weirder the better,” because these differentiating qualities capture attention. It can also help founders make a stronger case for why their solution is going to come out on top. “Doing AI for customer support makes a ton of sense [but] it’s not totally clear to me why a startup is gonna win that.” So when founders can be bold enough for their solution to be different, not obvious, and then demonstrate that it’s not just a dream, but that there are early signs of product-market fit – that’s where the magic happens.
As a complete, non-tech, real-world example, Gur talked about how teaching yoga on Stanford’s campus was illegal 20 years ago and now there are more yoga studios in Palo Alto than traditional gyms. What used to be a “weird,” fermented drink called kombucha 15 years ago is now sold at Seven Elevens. Now compare this with Ring – founder Jamie Simiofff was famously rejected on Shark Tank in 2013, but his “weird” DoorBot eventually transformed home and community security, selling to Amazon for a monumental deal in 2018.
The big takeaway: dare to be weird, but also be useful.
To really catch Gur’s eye, he has to believe that the market opportunity is massive. “A lot of passing happens where I just can’t see how this can be a huge business […] we’re looking for businesses that can generate billions of dollars in revenue.” He loves commercially-oriented founders who are deeply in touch with the problems they are solving, are so obsessed that they will teach him something new (that’s his favorite part of the job!), and can see market opportunities from new angles. These traits are part of what make up a north star in Gur’s investing decisions: the founder-market fit.
With DoorDash CEO, Tony Xu, the founder-market fit was clear to Gur right from the first meeting, which enabled DoorDash to stand out from the other food delivery companies that Gur was doing diligence on at the time. The profoundly emotional experience with the problem had already been clear to Gur: as a parent, “at that time, you couldn’t reliably order food […] if you had young kids, they were going to melt down if that food showed up half an hour, an hour late.” But Xu’s conviction and approach made it clear that DoorDash realized they were running a logistics business and that their solution came from a deep understanding of the restaurants’ problems as much as the consumer. That combination of a deep understanding of those problems combined with the unit economic orientation and Xu’s passion & conviction sold Gur: ”I was like, Oh my God, [this is what] I’ve been looking for.”
The big takeaway: Go after a multi-billion-dollar problem and spend time understanding why you, as a founder, are the right person to lead the charge in solving it. Be obsessed and be honest with yourself so that you can develop the clear conviction needed to stand apart.
Founders still have to do all of the difficult work in finding product-market fit, acquiring customers, and wearing all of the hats that come with entrepreneurship, but now with the added challenge that getting capital over the last two years has gotten increasingly harder. There will always be plenty of investors looking for great founders with even greater ideas, but the new fundraising environment is certainly more difficult.
Newer companies will find it easier to raise; Gur pointed out that “most of the companies that we invest in [are] in the first 18-to-36 months from incorporation.” Even so, Gur believes all founders of all stages will need total conviction in the problem, market, and their differentiated story to succeed. Fundraising challenges, after all, don’t stop after getting seed funding. “Even if you get it at seed, at the next stage, at Series A, at Series B – the fall-off rates are very high.” While they haven’t participated as much, Gur has also seen the industry’s rising number of down and inside rounds and shared some practical advice for founders who may be facing that exact predicament:
The big takeaway: Conviction and honesty are key. In this fundraising market, Gur sees founders who are struggling and need to raise a down round having more success in doing the hard and honest work with their current investors first before approaching new investors.
We covered so much more in our conversation with CRV’s Saar Gur that is absolutely worth a listen. From how AI is a powerful accelerant to creativity to how CRV sees its role in providing value and guidance to its portfolio companies to how Facebook changed private markets forever…you don’t want to miss out on all of the other gems this and future conversations provide! Click here to watch the full interview and, if you haven’t already, join our mailing list so we can continue bringing you valuable content to help in your founder journey!
Up next, we will be sitting down with Mercedes Bent of Lightspeed Venture Partners, a renowned venture capitalist known for her keen eye in identifying breakthrough startups and top-performing founders. We’ll dive deep into the key characteristics that make founders successful and the traits that set breakthrough startups apart from the rest. You can RSVP for the 5/22 live interview or signup to receive the asynchronous viewing link afterwards here!