Afore Capital
UnclaimedAt a Glance
- Check Size
- $1M – $3M
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $500M
- Sectors
- Aerospace & Defense, Digital Health, Other +2
- Founded
- 2016
- HQ
- San Francisco, CA
About Afore Capital
Afore Capital is a San Francisco pre-seed firm that treats the earliest institutional check as its entire business rather than a side allocation. Its positioning to management teams is proven product and investment expertise on your side on Day 0, helping you build now and raise later. The firm invests across pre-seed and seed and follows into Series A and Series B and beyond, with sector coverage spanning aerospace and defense, digital health, fintech and consumer.
Afore writes $500,000 to $2 million and more into pre-traction, pre-product companies, describing itself on its site as a $500 million fund. Co-founders and managing partners Gaurav Jain and Anamitra Banerji have signed every fund since the first vehicle, which sold $45.9 million after an August 2016 first sale; the current Fund V was filed in March 2026 at a $230 million target. The published approach is deliberately contrarian for the stage: decisions in days rather than weeks, tolerance for raw ideas, and a stated preference for what can go right over what can go wrong.
What distinguishes Afore is the surrounding machinery. The Founders-in-Residence program backs people who have an idea but nothing incorporated yet, and an FIR University track extends the same funnel earlier still, giving the firm proprietary access to companies before a priced round exists. The portfolio includes Faire, Retool, LaunchDarkly, Hippo Insurance, Ramp, Pulley, Clipboard Health and Airtable.
Investment Thesis
“Invests in early-stage companies across aerospace, digital health, fintech, and consumer sectors.”
Sector Focus
Investment Stage
Notable Portfolio Companies
View full portfolio →
Fund History
Afore has raised five pre-seed funds, each signed by both co-founders. Form D filings show Afore Capital, L.P. selling $45.9 million against a $46 million offering after an August 2016 first sale. Afore Capital II sold its full $78.1 million following a February 2020 first sale. Fund III was filed in October 2021 at a $150 million target, Fund IV in April 2024 at $175 million, and Fund V in March 2026 at $230 million, a roughly fivefold increase in target size over a decade.
The firm also runs single-deal vehicles alongside the flagships, including Afore Capital SPV-C, which sold $500,000 in September 2024. Afore describes itself as a $500 million fund writing $500,000 to $2 million and more with high conviction into pre-traction companies, and is explicit that pre-seed is the whole mandate rather than an opportunistic sleeve. All filings list San Francisco as the principal place of business.
SEC Fund Filings
- Vehicles filed, last 24 months
- 2
- Latest filing
Afore Capital filed a Form D for 2 fund vehicles between Sep 26, 2024 and Sep 25, 2026.
| Fund vehicle | Source |
|---|---|
| Afore Capital V, L.P. | SEC Form D, filed |
| Afore Capital SPV-C, L.P. - Sub-partnership 1 | SEC Form D, filed |
A Form D is the notice a fund files with the SEC when it raises money in a private offering. Feeder funds, parallel funds and SPVs each file their own, so the count measures filing activity, not the number of flagship funds.
Source: SEC EDGAR Form D filings for pooled investment funds, original filings only (amendments excluded). Our filing data starts Jul 1, 2024. Vehicles are matched to Afore Capital by fund name and checked against the sponsor address and named principals on each filing; offering amounts are not shown. Each “SEC Form D” link opens an EDGAR full-text search for that vehicle’s exact name, where the filing itself is listed. See every new fund filing on the Form D Radar.
Team (4)
Frequently Asked Questions
What stage does Afore Capital invest at?
Afore Capital primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is Afore Capital located?
Afore Capital is headquartered in San Francisco, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does Afore Capital focus on?
Afore Capital focuses on investments in Aerospace & Defense, Digital Health, Other, Consumer, Fintech. Their portfolio reflects deep expertise and networks within these sectors.
What is Afore Capital's typical check size?
Afore Capital's typical investment check size ranges from $1M to $3M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Afore Capital have under management?
Afore Capital manages approximately $500M in assets under management (AUM) across their funds.
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