Recent Funding
Investors
Stage 2 Capital

Stage 2 Capital portfolio

Stage 2 Capital has 11 portfolio companies on record at Recent Funding, with 3 investments in the last 12 months.

Website: stage2.capital.

Type: Venture capital.

Portfolio on Recent Funding: 11.

Deals, last 12 months: 3.

Rounds led: 3 of 7.

Capital in their rounds: $81.1M.

Latest deal: American AI Logistics · Nov 9, 2026.

About this page

It is a venture capital firm based in Lincoln, US, founded in 2018. It led 3 of the 7 rounds it joined. Its most recent investment on record is American AI Logistics's Series B+ round in November 2026, alongside GOVO Venture Partners and Companyon Ventures. By category, its portfolio leans toward Sales and marketing (3) and HR and recruiting (3). It has co-invested with Y Combinator, Lightbank and Northwestern Mutual Future Ventures, most often Y Combinator (2 rounds).

About Stage 2 Capital

Firm type: Venture capital.

Headquarters: Lincoln, US.

Founded: 2018.

Stages: Pre-Seed, Seed, Series A.

Sectors: AI & Machine Learning, Data & Infrastructure, Enterprise Software, Fintech, Future of Work, HR Tech, LegalTech, Marketplaces, SaaS, Sales Tech.

Check size: $200K to $5M.

Leads rounds: Yes.

Portfolio companies: 111.

Exits: 6.

Rounds led: 7.

Funds raised

Fund	Fund #	Size	Announced
SStage 2 Capital	-	$100M	Nov 10, 2026 citybiz
SStage 2 Capital Bay Area	III	$150Mvia Shai Goldman's fund list	Aug 17, 2022
SStage 2 Capital Multiple cities	II	$80Mvia Shai Goldman's fund list	Aug 6, 2021

What Stage 2 Capital invests in

Stage 2 Capital recent investments

Company	Round	Date	Alongside
AAmerican AI Logistics	Series B+	Nov 9, 2026	GOVO Venture Partners (lead), Companyon Ventures
SScaffold	Seed · $15M	Sep 15, 2026	D.R. Horton, Builders FirstSource, Grid Capital +5
LLetter AI	Series B+ · $40M	Feb 24, 2026	Y Combinator, Northwestern Mutual Future Ventures, Formus Capital +2
LLetter AI	Series A · $10.6M · lead	Oct 21, 2025	Y Combinator, Northwestern Mutual Future Ventures, Formus Capital +2
SSteelhead Technologies	Series A · $6M · lead	Oct 26, 2023	TIA Ventures, C2 Ventures
TTofu	Seed · $5M	Oct 19, 2023	Power of N, Liquid 2 Ventures, Index Ventures (lead) +1
AArcade	Seed · $4.5M · lead	Jul 1, 2021	Revolution’s Rise of the Rest Seed Fund, TEN13, ATX Venture Partners +1

How Stage 2 Capital invests

Stage	Deals	Capital in rounds
Seed	3 43%	$24.5M
Series B+	2 29%	$40M
Series A	2 29%	$16.6M

Year	Deals	Capital in rounds
2021	1 14%	$4.5M
2023	2 29%	$11M
2025	1 14%	$10.6M
2026	3 43%	$55M

Stage 2 Capital portfolio companies

AAmerican AI LogisticsSeries B+ · Nov 2026
SScaffold$15MSeed · Sep 2026
LLetter AI$40MSeries B+ · Feb 2026
SSteelhead Technologies$6MSeries A · Oct 2023
TTofu$5MSeed · Oct 2023
AArcade$4.5MSeed · Jul 2021
MMomentumbacker
DDaybacker
OOpusbacker
VVeremarkbacker
RRestokebacker

Company	Round with Stage 2 Capital	Total raised	Latest raise
AAmerican AI Logistics Logistics and mobility	Nov 9, 2026 Series B+	undisclosed	Nov 9, 2026 Series B+
SScaffold Developer tools and cloud	Sep 15, 2026 Seed · $15M	$15M	Sep 15, 2026 Seed
LLetter AI	Feb 24, 2026 Series B+ · $40M	$51.1M	Feb 24, 2026 Series B+
SSteelhead Technologies Manufacturing and industrial	Oct 26, 2023 Series A · $6M · lead	$92.2M	Dec 11, 2025 Series B+
TTofu AI agents	Oct 19, 2023 Seed · $5M	$17M	Feb 13, 2025 Series A
AArcade HR and recruiting	Jul 1, 2021 Seed · $4.5M · lead	$64.5M	Jun 12, 2026 Series A
MMomentum Sales and marketing	backer · source	$13M	Jul 23, 2024 Series A
DDay Sales and marketing	backer · source	$20M	Feb 2, 2026 Series A
OOpus Health and bio	backer	$18M	Feb 24, 2026 Series B+
VVeremark HR and recruiting	backer	$26M	Feb 3, 2026 Series B+
RRestoke Health and bio	backer	$4M	Sep 23, 2024 Seed

Most frequent co-investors

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 Stage 2 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 7 rounds on Recent Funding that name Stage 2 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 Stage 2 Capital, which is a subset of its real portfolio. API: /api/v1/investors/stage-2-capital (get a free API key). More: the most active VC firms and new venture capital funds.