Theory Ventures

An early-stage venture capital firm based in San Francisco, California, Theory Ventures invests between $1 million and $25 million in software companies that leverage technology discontinuities into go-to-market advantages. The firm is thesis-driven, deploying a concentrated portfolio model with expectations to take 12-15 core positions in each fund. Theory Ventures focuses on early-stage investments, primarily in Seed and Series A stages, with a geographical focus on the United States. The firm's investment strategy centers on sectors such as data infrastructure and artificial intelligence, aiming to support innovators building the next generation of software. Since its founding in 2023, Theory Ventures has launched two funds, including a $450 million second fund in November 2024, enabling the firm to further scale its support for innovators leveraging technology discontinuities into go-to-market advantages. The firm's portfolio includes companies like Omni, Context.ai, Initia, Superlinked, and Tobiko Data, reflecting its commitment to investing in early-stage software startups across data, AI, and web3 sectors. Theory Ventures is led by General Partner Tomasz Tunguz, who previously served as Managing Director at Redpoint Ventures, and Partner Lauren DeMeuse, a former executive at Palantir. The team also includes experts like Rafa Jara-Simkin, specializing in go-to-market strategies, and Amber Mante, with experience in sales leadership at Looker and Monte Carlo. The firm's approach combines deep industry expertise with a focus on supporting founders building transformative software solutions.