Bullpen Capital

Company Overview

Bullpen Capital is an early-stage venture fund being formed to make follow-on investments in Internet technology companies that have been initially funded by super-angel capital efficient funds. Extending the capital efficient model beyond the seed stage keeps options open for the founders and investors. Bullpen Capital is a super angel follow-on fund to extend the capital efficient game into later innings. Its team includes Paul Martino, Duncan Davidson, and Richard Melmon.

History

Bullpen Capital was founded in 2010 by Paul Martino and Duncan M. Davidson and is based in San Francisco, California.



The rise of the super-angels is a capital market response to a new technology trend: the rise of the lean venture, typically an Internet service deploying fast-to-market technology which enables rapid market validation before large capital requirements. The super-angels are emerging as a natural response to a decades-long over-sizing of venture firms, built more to fund the semiconductor factories of the past than Internet firms of today.

Investments

Bullpen Capital has made 87 investments. One of their investments was on Feb 14, 2019, when they invested $6M in Tank Utility. Bullpen Capital has raised a total of $253.6M across 3 funds, one of them being Bullpen Capital IV. This fund was announced on Jun 28, 2018, and raised a total of $140M.



Bullpen Capital is a venture capital firm specializing in post-seed round funding, startups, early stage, and small B round investments. It seeks to invest in internet technology companies focusing on e-commerce, mobile, and consumer internet. The firm focuses on leading second round investments and seeks to make all its seed rounds syndicated. It makes investments in companies seeded by super angels and institutional seed funds. The firm invests in seed money before the companies can pursue their big A round. It invests in firms that are early-product market fit, seed syndicate intended to invest super pro-rata and management confident of hitting a major valuation stone in 9-12 months.