Wing Venture Capital

Gaurav Garg and Peter Wagner co-founded Wing in 2013 after long runs at two of the most established Sand Hill Road firms, and built it explicitly to help create consequential business technology companies in cloud, mobile and data.

Wagner spent fifteen years at Accel Partners, latterly as managing partner, leading dozens of early-stage investments, twelve of which reached the public markets and many others exiting through acquisition. Garg was a venture partner at Sequoia Capital for ten years, where he backed Ruckus Wireless, Aruba Networks, FireEye, MobileIron, Jasper Wireless, RingCentral, Jawbone and NetScaler, a run concentrated in networking and mobile infrastructure. Both came to investing with technical and operating grounding. The firm stays deliberately concentrated, with positions including Snowflake, Gong, Cohesity and Tailscale, so partners take board seats rather than observer rights.

Peter Wagner and Gaurav Garg launched Wing in 2013 with a $111 million debut fund backed by institutional investors including leading universities and foundations. Wing Two followed in 2016, reported at $250 million, and the firm closed a $450 million third fund before raising $600 million in 2023 for a vehicle aimed at artificial intelligence tools with a business use case.

Fund sizes have grown more than fivefold over a decade while the strategy has not. Wing leads or co-leads seed and Series A rounds in business technology, and the partnership has stayed small enough that each partner carries a concentrated board load rather than a long tail of small positions. Outside its portfolio, the firm is best known for the Enterprise Tech 30, an annual ranking of private business technology companies that Wing publishes with a panel of enterprise investors and that has become a reference list for the category.