A-Level Capital

High-Level Overview

A-Level Capital is a student-run venture capital firm founded in 2015 at Johns Hopkins University (JHU), dedicated to empowering the school's entrepreneurial ecosystem by investing in startups led by JHU alumni and affiliates.[1][2][4] Its mission centers on providing capital, networking with limited partners (LPs) and advisors for further fundraising, and creating internship opportunities for JHU students at portfolio companies, spanning sectors like health-tech, sports, life sciences, and digital pathology.[1][2][4] With over 40 investments, including successes like Proscia (digital pathology) and Elemy (pediatric behavioral care, valued at $1.15B), the firm has grown from an inaugural $500K fund to Fund 2, over four times larger, fostering JHU's reputation for producing top founders alongside scientists and engineers.[1][4]

Origin Story

A-Level Capital was founded in 2015 by JHU students Elizabeth Galbut (Carey Business School alum) and Demi Obayomi (Whiting School of Engineering alum), who raised $500K for their inaugural fund to address unfunded entrepreneurial ideas from brilliant JHU minds.[1][4] The firm quickly scaled, reaching 30 investments across health-tech to sports by completing its first fund and launching Fund 2 with significantly more capital.[1] Run by undergraduate and graduate students acting as managing partners, senior associates, and analysts, it meets twice weekly to source deals, conduct diligence, and manage the portfolio, providing hands-on VC experience while supporting JHU alumni startups.[4]

Core Differentiators

• Student-Run Model: Operated entirely by JHU students, offering unique campus ties to connect portfolio companies with talent, interns, and hires, filling a niche for both startups and students.[1][4]
• Targeted Investments: Focuses exclusively on early-stage (seed and beyond) JHU alumni/affiliate-led ventures across diverse industries like biomedical tech, life sciences, and sports, with a portfolio of over 40 companies including high-profile exits like Elemy ($1.15B valuation).[1][3][4]
• Holistic Support: Beyond capital, provides access to a rich network of LPs and professional advisors for fundraising, plus internship pipelines that expose students to startups.[1][2][4]
• Proven Track Record: Backed successes like Proscia and recent deals such as Stage (Seed VC-II, $5.14M in 2022) and Ashvattha Therapeutics (Series B, $69M in 2022), demonstrating impact despite its student-led nature.[3][4]

Role in the Broader Tech Landscape

A-Level Capital rides the trend of university-affiliated venture investing, amplifying JHU's entrepreneurial output in high-growth areas like life sciences, health-tech, and digital health amid rising demand for alumni-backed innovation.[1][4] Its timing leverages JHU's strengths in engineering, sciences, and business, countering funding gaps for early-stage ideas in a competitive VC market favoring student ecosystems.[1][2] By influencing the ecosystem through talent pipelines and networks, it positions JHU as a hub for founders, not just researchers, and inspires similar student VC models at other universities.[4]

Quick Take & Future Outlook

A-Level Capital is poised to expand with larger funds and deeper JHU integration, potentially scaling to Fund 3 amid growing university VC trends and biotech/AI-health booms. Shifts toward AI-driven health-tech and alumni networks will shape its path, evolving its influence from niche supporter to broader ecosystem builder, continuing to bridge student talent with startup success.[1][3][4]