Initialized Capital
UnclaimedAt a Glance
- Check Size
- $1M – $5M
- Stage
- Seed, Series A, Series B+
- AUM
- $3.2B+
- Sectors
- Enterprise, Consumer
- Founded
- 2011
- HQ
- San Francisco, CA
About Initialized Capital
Initialized Capital is a venture capital firm based in San Francisco, CA founded in 2011. The firm focuses on Seed, Series A, Series B+ investments across sectors including Enterprise, Consumer. The firm manages $500M in assets under management. Notable portfolio companies include Coinbase, Instacart, Cruise, Reddit, Flexport, OpenSea, Rippling and Patreon. Operator-heavy seed investor focused on supporting founders with product development and recruiting expertise across enterprise and consumer sectors.
Investment Thesis
“Operator-heavy seed investor focused on supporting founders with product development and recruiting expertise across enterprise and consumer sectors.”
Sector Focus
Investment Stage
Notable Portfolio Companies
Key Team (1)
Brett Gibson
Managing Partner
Fund History
- Initialized raised $7 million for its debut fund and filed its first Form D in February 2012.
- Fund II closed at $39.15 million, with a first sale on 24 May 2013 while the firm was still registered in Brooklyn.
- Fund III targeted $100 million in June 2016 and closed at $125 million, fully subscribed.
- Fund IV closed at $225 million in late 2018, also fully subscribed.
- Fund V was filed in August 2020 with a $231.85 million offering and was reported at $230 million.
- In December 2021 the firm completed its sixth raise, taking in $700 million across two new vehicles.
- Wikipedia, citing Bloomberg, puts cumulative capital raised above $3.2 billion as of 2021.
- Alongside the flagships, Initialized runs parallel and co-investment vehicles including Initialized Annex, Initialized Superclass, the Initialized Robin Fund, a Special Opportunities fund and a series of single-company SPVs.
- Twenty-seven companies first backed at seed have since become unicorns, among them Coinbase, into whose management team the firm wired $200,000 in 2013.
SEC Fund Filings
- Vehicles filed, last 24 months
- 2
- Latest filing
Initialized Capital filed a Form D for 2 fund vehicles between Sep 30, 2024 and Sep 29, 2026.
| Fund vehicle | Source |
|---|---|
| Initialized VII Associates L.P. | SEC Form D, filed |
| Initialized VII L.P. | 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 Initialized 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 (2)
Frequently Asked Questions
What stage does Initialized Capital invest at?
Initialized Capital primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.
Where is Initialized Capital located?
Initialized 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 Initialized Capital focus on?
Initialized Capital focuses on investments in Enterprise, Consumer. Their portfolio reflects deep expertise and networks within these sectors.
What is Initialized Capital's typical check size?
Initialized Capital's typical investment check size ranges from $1M to $5M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Initialized Capital have under management?
Initialized Capital manages approximately $3.2B+ in assets under management (AUM) across their funds.
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