Foundation Capital

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.

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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Other Information

Leadership

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

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.

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.

Notable Exits
More than 120 acquisitions and IPOs.

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