- Recent Funding
- Investors
- Initialized Capital
Initialized Capital portfolio
Initialized Capital has 35 portfolio companies on record at Recent Funding, with 2 investments in the last 12 months.
About this page
It is a venture capital firm based in San Francisco, US, founded in 2012. It led 6 of the 27 rounds it joined. Its most recent investment on record is Hop Aero's $11M Seed round in September 2026, which it led, alongside Lunar Ventures, Paul Graham, System.One and 3 others. By category, its portfolio leans toward Robotics and hardware (8) and Consumer and social (7). It has co-invested with Y Combinator, Salesforce Ventures and Alumni Ventures, most often Y Combinator (6 rounds).
About Initialized Capital
Funds raised
| Fund | Fund # | Size | Announced |
|---|---|---|---|
Bay Area | - | Not shown | initialized.com |
Bay Area | - | $39Mvia Shai Goldman's fund list | |
Bay Area | - | $7Mvia Shai Goldman's fund list |
What Initialized Capital invests in
- Robotics and hardware · 8 · 23%
- Consumer and social · 7 · 20%
- Climate and energy · 6 · 17%
- Health and bio · 6 · 17%
- Developer tools and cloud · 6 · 17%
- Logistics and mobility · 5 · 14%
- Education · 5 · 14%
- Manufacturing and industrial · 5 · 14%
Initialized Capital recent investments
| Company | Round | Date | Alongside |
|---|---|---|---|
| Seed · $11M · lead | Lunar Ventures, Paul Graham, System.One +3 | ||
| Seed · $10M | Notable Capital, Halcyon Futures, Y Combinator +1 | ||
| Series A · $25M | Benchmark (lead), Cory Levy, Y Combinator | ||
| Series B+ · $44M | Congruent Ventures, Alumni Ventures, Giant VC (lead) +3 | ||
| Series A · $7M | How Women Invest, Offline Ventures (lead), Gaingels +5 | ||
| Series B+ · $36.5M | Upfront Ventures, ACME Capital (lead), Anthos Capital (lead) +3 | ||
| Seed · $19M | Riot Ventures (lead), AlleyCorp, Steel Atlas +1 | ||
| Seed · $4M · lead | none named |
How Initialized Capital invests
Initialized Capital portfolio companies
HHop Aero$11MSeed · Sep 2026
RRobocurve$10MSeed · Sep 2026
GGreptile$25MSeries A · Sep 2025
PPano AI$44MSeries B+ · Jun 2025
CCofertility$7MSeries A · Apr 2025
LLaurel$36.5MSeries B+ · Mar 2025
VValar Atomics$19MSeed · Feb 2025
AAlix$5.5MSeed · Sep 2023
PPermitFlow$5.5MSeed · May 2023
RRoutefusion$10.5MSeed · Jan 2022
FFormic Technologies$27MSeries A · Jan 2022
EEnvoy$110MSeries B+ · Jan 2022
PPapa$150MSeries B+ · Nov 2021
TThe Mom Project$80MSeries B+ · Oct 2021
TTRM Labs$14MSeries A · Jun 2021
RRescale$50MSeries B+ · Feb 2021
WWorkRamp$8MSeries A · Jun 2019
FFly.iobacker
TTigerEyebacker
AArena PhysicabackerPPartifulbacker
CClonebacker
GGuide Labsbacker
PPlate IQbacker
VVetcovebacker
OOrbio Earthbacker
AAptDecobacker
SSendHubbacker
RRunway Financialbacker
CCreative Marketbacker
CCleanlybacker
CCoperniqbacker
CClairitybacker
AAstroForgebacker
HHandoffbacker
| Company | Round with Initialized Capital | Total raised | Latest raise |
|---|---|---|---|
Robotics and hardware |
Seed · $11M · lead | $11.5M | Sep 30, 2026 Seed |
Robotics and hardware |
Seed · $10M | $10M | Sep 14, 2026 Seed |
AI agents |
Series A · $25M | $79.5M | Oct 19, 2026 Series B+ |
Robotics and hardware |
Series B+ · $44M | $81M | Jun 16, 2025 Series B+ |
Health and bio |
Series A · $7M | $12M | Apr 10, 2025 Series A |
Legal and compliance |
Series B+ · $36.5M | $136.5M | Jun 10, 2025 Series B+ |
Climate and energy |
Seed · $19M | $1.6B | Aug 3, 2026 Series B+ |
Legal and compliance |
Seed · $5.5M · lead | $25.5M | Jul 21, 2025 Series A |
Developer tools and cloud |
Seed · $5.5M · lead | $91M | May 3, 2026 Series B+ |
Stablecoins |
Seed · $10.5M | $40.6M | Oct 9, 2025 Series A |
Robotics and hardware |
Series A · $27M | $82M | Oct 22, 2026 Series B+ |
Health and bio |
Series B+ · $110M | $171M | Jan 11, 2022 Series B+ |
Health and bio |
Series B+ · $150M | $220M | Apr 25, 2025 Series B+ |
HR and recruiting |
Series B+ · $80M | $90.6M | Jul 13, 2026 Series B+ |
ZK and privacy |
Series A · $14M | $219.9M | Sep 10, 2026 Series B+ |
AI infrastructure and compute |
Series B+ · $50M | $203.4M | Oct 11, 2025 Series B+ |
Education |
Series A · $8M | $50M | Jan 16, 2023 Series A |
Robotics and hardware |
backer · source | undisclosed | Jun 28, 2023 Series B+ |
| TTigerEye Sales and marketing |
backer · source | $35M | Sep 8, 2022 Series A |
| AArena Physica Robotics and hardware |
backer · source | undisclosed | — |
In-person and live experiences |
backer · source | undisclosed | Nov 8, 2022 Series A |
Robotics and hardware |
backer · source | undisclosed | — |
| backer | $9.5M | Dec 8, 2025 Seed | |
Stablecoins |
backer | $160M | Nov 4, 2021 Series B+ |
Health and bio |
backer | undisclosed | — |
Climate and energy |
backer | $500K | — |
Commerce and retail |
backer | undisclosed | — |
Sales and marketing |
backer | undisclosed | — |
Fintech |
backer | undisclosed | — |
Commerce and retail |
backer | undisclosed | — |
Logistics and mobility |
backer | undisclosed | — |
Climate and energy |
backer | $4.5M | Nov 6, 2023 Seed |
Climate and energy |
backer | undisclosed | Nov 13, 2025 Series B+ |
Robotics and hardware |
backer · source | $500K | May 26, 2022 Seed |
Developer tools and cloud |
backer | $5.8M | Jun 3, 2025 round |
Most frequent co-investors
YY Combinator6 shared rounds · last Sep 30, 2026SSalesforce Ventures3 shared rounds · last Jun 16, 2025
AAlumni Ventures2 shared rounds · last Jun 16, 2025
CCongruent Ventures2 shared rounds · last Jun 16, 2025
JJanuary Ventures2 shared rounds · last Jul 10, 2023
KKevin Mahaffey2 shared rounds · last Jul 10, 2023
- JJade Van Doren2 shared rounds · last Jul 10, 2023
QQuiet Capital2 shared rounds · last Sep 20, 2022
SSilverton Partners2 shared rounds · last Jan 19, 2022
AAndreessen Horowitz2 shared rounds · last Jan 11, 2022
EElad Gil2 shared rounds · last Jan 11, 2022
MMenlo Ventures2 shared rounds · last Jan 11, 2022
Similar investors
DDraper Associates36 companies · 10 deals in 12 mo
EEclipse38 companies · 19 deals in 12 mo
CCrosslink Capital39 companies · 5 deals in 12 mo
BBlackbird31 companies · 10 deals in 12 mo
MMana Ventures29 companies · 8 deals in 12 mo
KKindred Ventures28 companies · 8 deals in 12 mo
Investors whose portfolios on Recent Funding center on the same category (Robotics and hardware).
How this is counted
Firm profile: Fundraising Fox Open Dataset v2026-11, CC BY 4.0. Track-record counts are theirs, not Recent Funding's.
Venture funds Initialized Capital raised, from the list of new VC funds compiled by Shai Goldman (Brex). Each size links to the article that states it, or to that list where no article was found. All new funds: new VC funds.
Share is of the 27 rounds on Recent Funding that name Initialized Capital. Rounds with no announced date are left out of the year split, and "round" is a round whose stage is not on file.
Portfolio companies are the companies on Recent Funding with a round that lists Initialized Capital, which is a subset of its real portfolio. API: /api/v1/investors/initialized-capital (get a free API key). More: the most active VC firms and new venture capital funds.