Today, we’re announcing our second fund of $450m to support our mission of partnering with early stage software companies that leverage technology discontinuities into go-to-market advantages. This marks the next chapter in our firm’s evolution.

Since we launched Theory in 2023, we’ve gathered a wonderful team : Lauren, Spencer, Andy, Rafa, Amber, Arjun, & Kristin.

We have partnered with 8 marvelous founding teams, all using data to power the next wave of innovation across the Modern Data Stack, Artificial Intelligence, & Web3.

We’ve grown our fund size to match the needs of founders in this market : average Series A rounds have increased 42% since our launch, a reflection of the growth potential of these software categories.

I’m grateful to our team, our founders, & our limited partners for the continued support, & to Allie Garfinkle for sharing more about Theory.