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Initialized Capital

Initialized Capital

A venture capital firm based in San Francisco, California that was founded by Garry Tan, Alexis Ohanian and Harjeet Taggar in 2012. The firm focuses primarily on making investments in the software industry.

Initialized Capital is a venture capital firm headquartered in San Francisco, California that was founded in 2012 by Garry Tan, Alexis Ohanian, and Harjeet Taggar. The firm specializes in investing in high-potential software start-ups. The firm believes every industry will be remade by software engineers with the purpose of making goods and services better, cheaper, and faster. It invests at the seed stage, has funded hundreds of companies in aggregate now worth more than $40 billion in market value, and has raised more than $446 million in funding (as of July 23, 2019).

Product thesis

The firm invests in companies that have products which are significantly better than products on the current market and can prove with specific data points that they have already created successful products. Initialized capital also seeks start-ups with clear plans for the first 18-24 months after receiving their investments. Upon accepting a company into its portfolio, Initialized Capital states that it aids start-ups in areas such as technical hiring, user acquisition, media, press launches, and product design.

The Process

Initialized Capital utilizes customer relationship management software that was built by co-founder Garry Tan to gain insights into the potential of a start-up. Those companies that could be backed by the firm are then logged and voted on by Initialized Capital's nine investors. The vote is done digitally and blindly in an attempt to avoid bias.

Progress

The firm is significantly progressive with inclusion and diversity within the company, with female investors accounting for 40% of the team (the industry average is 10%). Furthermore, one of the co-founders is vocal about companies in the United States being mandated to offer Paid Family Leave and encourages companies in Initialized Capital's portfolio to offer that benefit.

Investments

Initialized Capital has made a total of 116 investments, 35 lead investments, and had 6 exits (Cruise, PlanGrid, eero, Kimono Labs, Framed Data, and Mast data.

Investment funds

The following table contains information related to investment funds raised by Initialized Capital:

Investment funds

Name
Money raised

Initialized I

$7 million

February 7, 2012

Initialized IV

$225 million

October 2, 2018

Initialized II

$39.2 million

August 1, 2013

Initialized III

$125 million

July 7, 2017

Initialized Superclass Iss

$50 million

June 24, 2019

Timeline

June 24, 2019
Initialized Capital announces their Initialized Superclass Iss fund with $50 million in funding.
October 2, 2018
Initialized Capital announces their Initialized Capital Fund IV with $225 million in funding.
December 1, 2016
Initialized Capital announces their Initialized III fund with $125 million in funding.
August 1, 2013
Initialized Capital announces their Initialized II fund with $39.2 million in funding.
February 7, 2012
Initialized Capital completes their Initialized Capital Fund I with $7 million in funding.
2011
Founding of Initialized Capital

Initialized Capital was founded in 2012 by Garry Tan, Alexis Ohanian, and Harjeet Taggar.

Invested in

Associated Investment Funds

Patents

Funding Rounds Participated In

Further Resources

Title
Author
Link
Type
Date

Alexis Ohanian on the open internet, "hustle porn", and paternity leave for all

November 14, 2018

At Initialized Capital, Odd Couple Alexis Ohanian And Garry Tan Look To Do VC Differently

Alex Konrad

Web

July 9, 2018

CoinBundle Conversations with Brett Gibson from Initialized Capital

September 28, 2018

Design for Startups -- Garry Tan (Co-founder + Managing Partner, Initialized Capital)

March 5, 2019

E08 - Ending The Crypto Winter with Garry Tan and Brett Gibson of Initialized Capital

November 1, 2018

...

News

Title
Author
Date
Publisher
Description
Melia Russell
May 20, 2021
Business Insider
Before Garry Tan had the Midas touch, he was Jen Wolf's intern. Now the two work together at Initialized Capital, an early-stage venture firm.
Connie Loizos
April 21, 2021
TechCrunch
A week after the cryptocurrency exchange Coinbase staged a direct listing, much of the focus remains on the wealth that the listing generated for executives at the company, its board members, and its private investors. Citing data from Capital Market Laboratories, Cointelegraph on Monday noted, for example, that 12,965,079 shares worth close to $5 billion [...]
Reza Chowdhury
April 12, 2021
AlleyWatch
The Pulse of New York Tech
Reza Chowdhury
April 5, 2021
AlleyWatch
The Pulse of New York Tech
Reza Chowdhury
March 3, 2021
AlleyWatch
The Pulse of New York Tech
SHOW MORE

References

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