Foundation Capital

Latest fund size

$600M

Announced

March 1, 2025

Global HQ

United States

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Check size

$1M - $50M

Members only

Stage focus

Seed, Series A, Series B, Growth (Series C+)

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Regions of investment

North America, Europe

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About

Foundation Capital is a venture capital firm based in Palo Alto, California, founded in 1995. The firm has invested in over 400 companies, achieving more than 120 exits through acquisitions or IPOs. As of 2023, it manages over $6 billion in assets.

Contact info

Members only

Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.

Investment focus

Foundation Capital focuses on early-stage investments in fintech, enterprise software, AI, and crypto. The firm emphasizes identifying "zero-billion-dollar markets", emerging sectors that do not yet exist but are created by visionary founders.

Foundation has been the first institutional investor in over 70% of its portfolio companies.

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What the fund looks for in founders and which sectors it backs.

Fund

In March 2025, Foundation Capital raised a $600 million eleventh flagship fund, which is 20% larger than its predecessor ($500 million, raised about three years prior).

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Fund size, LPs and track record.

Other information

Leadership

  • Steve Vassallo (General Partner)
  • Bill Elmore, Kathryn Gould, and Jim Anderson (Co-Founders)

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Investment Strategy‍

Unlike many long-standing VC firms that expand into multi-stage, multi-geography, or multi-strategy approaches, Foundation Capital has remained focused on the early stage, believing in backing category-defining startups from the beginning.

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Notable Investments

  • Netflix (Early investor)
  • Cerebras Systems (AI chips) – Launched from Foundation Capital’s office in 2016 when the AI chip market was barely existent.

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Notable Exits
More than 120 acquisitions and IPOs.

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Leadership, investment strategy, notable investments and exits.

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