Wave Capital

Wave Capital is a venture capital firm based in San Francisco, California, specializing in early-stage investments in marketplace startups. Founded by Riley Newman, former head of data science at Airbnb, and David Rosenthal from Madrona Venture Group, the firm focuses on leading pre-seed and seed rounds, typically making no more than four investments per year. Their portfolio is highly concentrated and selective, emphasizing businesses with a clear mission and founders they would want to work for. Wave Capital brings its operating backgrounds to each company, having built teams at Airbnb, Dropbox, and Facebook, and considers itself a member of the early team in addition to being an investor.

The firm has made 18 investments, with its most recent on June 17, 2024, when Ohana raised an undisclosed amount. Notable exits include Boox, Thatch, and Darwin Homes. Wave Capital's approach is hands-on, leveraging the extensive experience of its founders to support portfolio companies effectively. The firm is committed to building successful startups and has a proven track record in the venture capital industry.