Character Capital is a Milwaukee-based seed-stage venture capital firm founded in 2021 by John Zeratsky, Jake Knapp, and Eli Blee-Goldman. The firm is renowned for its hands-on approach, combining capital investment with intensive product development support through proprietary sprint methodologies. Character Capital builds upon the founders' extensive experience at Google Ventures, where they developed the Design Sprint framework and collaborated with over 300 startups, including Slack, Flatiron Health, and Blue Bottle Coffee.
Character Capital targets early-stage startups, particularly those led by technical founders leveraging artificial intelligence to address complex, previously unsolvable problems.
The firm invests up to $2 million in seed rounds and operates Character Labs, a four-week sprint program for pre-seed companies. Character Capital emphasizes sectors where software can drive meaningful behavioral change, including AI/ML, enterprise software, climate tech, healthcare, and life sciences.
In May 2025, Character Capital announced the closing of its second fund, securing $52 million in commitments. This fund enables the firm to double down on its unique value proposition: combining capital investment with direct involvement in product development through sprint methodologies.
With Fund II, Character Capital plans to lead and co-lead a select number of seed rounds, increasing its maximum check size to $2 million. The firm continues to focus on early-stage startups, particularly those utilizing AI capabilities to solve complex problems.
Leadership
Character Capital is led by co-founders and General Partners John Zeratsky, Jake Knapp, and Eli Blee-Goldman. Zeratsky and Knapp are best known for developing the Design Sprint methodology during their tenure at Google Ventures, where they collaborated with numerous successful startups. Blee-Goldman brings a strong track record in software investing and fund management from his previous role as a General Partner at Capital Midwest Fund.
Investment Strategy
Character Capital distinguishes itself by offering more than just capital; the firm actively engages with portfolio companies through its proprietary sprint methodologies, including the Design Sprint and Foundation Sprint. These intensive, hands-on programs are designed to help startups rapidly achieve product-market fit. The firm's approach is deeply rooted in the founders' extensive experience in product design and development, providing startups with a unique blend of strategic guidance and operational support.
Notable Investments
Character Capital's portfolio includes a range of innovative startups such as Phaidra, Fathom (AI Meeting Assistant), Inductive Bio, Extend, Reclaim.ai, Orbital, and Weave. These companies span various sectors, reflecting the firm's focus on AI-driven solutions in enterprise software, healthcare, and other industries where software can drive significant behavioral change.
