Antiportfolio Ventures

ActiveVenture Capital

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Updated: Mar 20, 2026 ·

About

Investing in the Future of AI x LegalTech

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Sep 1, 2025	Optain	$26.0M Series A	—	Afore Capital, Crossbeam Venture Partners, Insight Partners, Overlooked Ventures, Right Side Capital Management, Stone Mountain Ventures, Evan Moore
Jun 1, 2025	Outset	$17.0M Series A	—	8VC, Adverb Ventures, Alt Capital, Ben Taft's Genius Ventures, Craft Ventures, First Round Capital, Freestyle Capital, Fuel Capital, Harlem Capital, LGF, Matrix, Soma Capital, Weekend Fund, Y Combinator, Daniel Kan, Guillaume Luccisano, Nate Matherson
Apr 1, 2025	Blooming Health	$26.0M Series A	—	Afore Capital, Array Ventures, C2 Investment, Chingona Ventures, Conviction Partners, Crossbeam Venture Partners, Esplanade HealthTech Ventures, Founders Fund, Insight Partners, Overlooked Ventures, Presight Capital, Propeller VC, Right Side Capital Management, Sequoia Capital, Social Capital, Stone Mountain Ventures, Vensana Capital, Evan Moore, Reshma Saujani
Mar 1, 2025	Ponte Labor	$3.0M Seed	—	Freestyle Capital, Harlem Capital, Y Combinator
Feb 1, 2025	Valid	$6.0M Seed	—	Afore Capital, Canaan Partners, Divergent Capital, General Catalyst, Infinity Ventures Crypto, Lightbank, Long Journey Ventures, NEO, Saxena Capital, Weekend Fund, Ali Moiz, Chris Smoak, Claire Hughes Johnson, George Burke, Scott Banister, Scott Belsky, Vivek Garipalli
Jan 1, 2025	Justpoint	$45.0M Series A	—	Lightbank, Right Side Capital Management, 01 Advisors, 9Yards Capital, AAF Management Ltd., Afore Capital, AirAngels, Akshay Kothari, Ali Moiz, Andreessen Horowitz, Backed VC, Basecamp Fund, Basecase Capital, Bradley Horowitz, Brainchild, Brendan O'Driscoll, Chris Smoak, CrunchFund, Divergent Capital, Evan Cheng, Factorial, Flybridge Capital Partners, Founder Collective, George Burke, Hoxton Ventures, Incisive Ventures, KW Angel Fund, LGF, Long Journey Ventures, Mario Gabriele, Matteo Franceschetti, Matthew Dellavedova, Moshe Lifschitz, Pioneer Square Labs, Scott Banister, Scott Belsky, Shrug Capital, Stellation Capital, Supernode Ventures, Symbolic Capital, Todd and Rahul's Angel Fund, Uncork Capital, Vivek Garipalli, VZVC, Wave Capital, Weekend Fund, What If Ventures
Sep 1, 2024	Unbound Security	$500K Seed	—	10100, Benchmark, Bessemer Venture Partners, Felicis Ventures, Gradient Ventures, ICONIQ Capital, Otherwise Fund, Picus Capital, Pioneer Fund, Race Capital, Redpoint Ventures, Scale Asia Ventures, Y Combinator, Gokul Rajaram, Immad Akhund, Jonathan Swanson, Max Mullen, Mike Krieger, Oliver Cameron, Tom Blomfield
Jul 1, 2024	Niva	$3.0M Seed	—	10100, Benchmark, Bessemer Venture Partners, C2 Investment, Canary Ventures, Gradient Ventures, ICONIQ Capital, Lead Edge Capital, Lightspeed Venture Partners, Hans Tung, Otherwise Fund, Picus Capital, Redpoint Ventures, Scale Venture Partners, Tola Capital, Brandon Deer, Fabian Gomez Gutierrez, Felipe Villamarin, Simon Borrero
Mar 1, 2024	The New Club	$3.0M Seed	—	186 Ventures, 20VC, Accomplice VC, Afore Capital, Andreessen Horowitz, Arrive, Baseline Ventures, Better Capital, Boston Seed Capital, C2 Investment, Caffeinated Capital, Clocktower Technology Ventures, Crossbeam Venture Partners, GSV Acceleration, Heretic Ventures, Impellent Ventures, Insight Partners, Lightspeed Venture Partners, Manresa Ventures, NextGen Venture Partners, NextView Ventures, Operator Collective, Overlooked Ventures, Precursor Ventures, Predictive VC, Right Side Capital Management, SciFi VC, Seven Seven Six, Stone Mountain Ventures, The Hit Forge, Village Global, VitalStage Ventures, Weekend Fund, WorkLife Ventures, Y Combinator, Anthony Pompliano, Baron Davis, David Chang, Evan Moore, Fidji Simo, Jeff Seibert, Jennifer Lum, Jeremy Yap, John Collison, Kevin Lin, Kunal Shah, Mike Krieger, Scott Belsky, Steve Chen
Jan 1, 2024	Valid	$2.0M Seed	—	Afore Capital, Divergent Capital, Jenny Fielding, General Catalyst, Infinity Ventures Crypto, Lightbank, Long Journey Ventures, NEO, Saxena Capital, TNT Venture, Weekend Fund, Ali Moiz, Chris Smoak, Claire Hughes Johnson, George Burke, Gordon Wintrob, Greg Schroy, Scott Belsky, Vivek Garipalli
Nov 1, 2023	Glencoco	$3.0M Seed	—	Alumni Ventures, Felicis Ventures, Darius Contractor
Oct 1, 2023	Glen Coco	$3.0M Seed	—	Freestyle Capital, Harlem Capital, Y Combinator
Oct 1, 2023	Outset	$4.0M Seed	—	8VC, Abstract Ventures, Kevin Hartz, Adverb Ventures, Air Street Capital, Airtree Ventures, Alt Capital, Alumni Ventures, AngelPad, Ben Taft's Genius Ventures, Catapult Capital, Craft Ventures, DST Global, eFounders, Expa, Felicis Ventures, First Round Capital, Freestyle Capital, Fuel Capital, General Catalyst, GIT1K, Frederique Dame, Harlem Capital, Infinite Niches, Jetstream, Kepler Operator’s Fund, LGF, LocalGlobe, Logos Labs, M13, Marathon Venture Capital, Matrix, Merus Capital, N49P Ventures, Openview Venture Partners, Partech Ventures, Scribble Ventures, Shine Capital, Soma Capital, Sound Ventures, The Yield Lab LATAM, Tiger Global Management, Weekend Fund, WorkLife Ventures, Y Combinator, Afraj Gill, Bianca Ambrosini, Chris Herd, Cory Levy, Cristina Cordova, Daniel Kan, David J. Phillips, Deborah Liu, Dylan Field, Guillaume Luccisano, Immad Akhund, Jon Brelig, Julia Hartz, Melissa Tan, Michael Stoppelman, Mike Hennessey, Nate Matherson, Nitay Joffe, Oliver Cameron, Paul Graham, Ron Pragides, Saran Chari, Tim Kendall, Tom Blomfield, Zack Kanter
Sep 1, 2023	Blooming Health	$4.0M Seed	—	Afore Capital, Alpine Ventures, Angels of Many, Array Ventures, Banana Capital, C2 Investment, Chingona Ventures, Concept Ventures, Conviction Partners, Crossbeam Venture Partners, Goodwater Capital, Insight Partners, Overlooked Ventures, Propeller VC, Right Side Capital Management, Sequoia Capital, Stone Mountain Ventures, XX, Arash Ferdowsi, Christian Reber, Evan Moore, Immad Akhund, Niklas Jansen, Reshma Saujani
Sep 1, 2023	Common Trust	$3.0M Seed	—	—
Jun 1, 2023	Hyfé	$9.0M Seed	—	Alumni Ventures, Azolla Ventures, Breakthrough Energy Ventures, Lowercarbon Capital, The Engine, Stanton Green
May 1, 2023	Outset	$450K Seed	—	Freestyle Capital, Harlem Capital, Y Combinator
Apr 1, 2023	Orbit Fab	$29.0M Series A	—	1435 Capital Management, 2045 ventures, 305 Ventures, 500 Global, 8090 Industries, Afore Capital, Better Tomorrow Ventures, Bolt, Divergent Capital, Good Growth Capital, Lightbank, Long Journey Ventures, SpaceFund, Techstars, Tribe Capital, Weekend Fund, Ali Moiz, Chris Smoak, Dylan Taylor, Kirill Silkin, Scott Banister, Sung ho Choi, Vivek Garipalli
Mar 1, 2023	Benefitbay	$3.0M Seed	—	Afore Capital, Crossbeam Venture Partners, Forum Ventures, Hustle Fund, Insight Partners, Overlooked Ventures, Right Side Capital Management, Stone Mountain Ventures, Evan Moore
Jun 1, 2022	Mesh	$6.0M Seed	—	Accel, Afore Capital, CapitalX, Divergent Capital, Dreamers VC, Future Shape, Lightbank, Long Journey Ventures, Mana Ventures, NextView Ventures, Streamlined Ventures, Thirty Five Ventures, Weekend Fund, Bradley Horowitz, Chris Smoak, Louis Beryl, Scott Banister, Scot Wingo, Vivek Garipalli, Ali Moiz, Alison Engel, Anthemis Group, Arash Ferdowsi, Dragonfly Capital Partners, Elkstone, Gokul Rajaram, Greycroft, Ilya Kondrashov, Immad Akhund, Matt Ocko, Mike Giampapa, Munish Varma, No Label Ventures, Paradigm, Pascal Gauthier, Rajan Anandan, RTP Global, Sahin Boydas, SNR, Sumon Sadhu, Taurus Ventures, Trajectory Ventures, Venture Highway, Village Global, Viral Bajaria, Y Combinator
Jun 1, 2022	Gander	$4.0M Seed	—	Act One Ventures, Battery Ventures, CP Ventures, Harlem Capital, KB Partners, M13, Vamos Ventures, Eric Ries
Mar 1, 2022	Zitti	$4.0M Seed	—	—
Mar 1, 2022	Justpoint	$7.0M Seed	—	01 Advisors, 11k Ventures, 8VC, 9Yards Capital, Afore Capital, Andreessen Horowitz, Anorak Ventures, Basecase Capital, Bedrock Capital, Champion Hill Labs, Daffy, Divergent Capital, E1 Ventures, Factorial, Founders Fund, General Catalyst, Hoxton Ventures, LGF, Lightbank, Long Journey Ventures, Marlinspike, Outliers Fund, Pareto Holdings, Rabben Hood Ventures, Right Side Capital Management, rocketship.vc, Shaan's All Access Fund, Howard Lindzon, Stellation Capital, Suli, Symbolic Capital, Team Ignite Ventures, Tiger Global Management, Twelve Below, Uncork Capital, Weekend Fund, XYZ Venture Capital, Akshay Kothari, Ali Moiz, Alvin Tse, Chris Smoak, Evan Cheng, Fanny Surjana, George Burke, Hannah Bronfman, Jeremy Cai, Kunal Shah, Manik Gupta, Mattia Astori, Mircea Pasoi, Richard Cooperstein, Scott Banister, Scott Belsky, Shamir Karkal, Stephen Romanoff, Thomas Tull, Victor Jacobsson, Vivek Garipalli, William Miller, Zachary Hargreaves
Sep 1, 2021	Orbit Fab	$10.0M Venture Round	—	Afore Capital, Divergent Capital, Lightbank, Long Journey Ventures, SpaceFund, Weekend Fund, Ali Moiz, Chris Smoak, Scott Banister, Vivek Garipalli
Nov 1, 2020	Doorbell Health	$3.0M Seed	—	14Peaks Capital, 2150, Afore Capital, Alate Partners, Alt Capital, Jana Messerschmidt, Better Tomorrow Ventures, Bling Capital, Buckley Ventures, byFounders, Casa Verde Capital, Craft Ventures, CRV, Divergent Capital, Expa, Founders Fund, Fuel Capital, Goat Capital, Goldcrest Capital, Greycroft, Hanabi Capital, Index Ventures, Insight Partners, Iterative, Lightbank, Locus Ventures, Long Journey Ventures, M13, MATH Venture Partners, MetaProp Ventures, QED Investors, Rackhouse Venture Capital, Relay Ventures, S28 Capital, Saga, Sequoia Capital, ShareBear Capital, SNR, Spark Capital, Starship Ventures, Tusk Venture Partners, Weekend Fund, Adam Guild, Ali Moiz, Ameet Ranadive, Balaji Srinivasan, Bobby Goodlatte, Chris Larsen, Chris Smoak, Dylan Field, Hiro Tamura, Leah Busque, Ning Sung, Sam Altman, Scott Banister, Shane Curran, Steve Salis, Travis Vanderzanden, Yishan Wong

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Antiportfolio Ventures.

Ryan Morgan

Partner

Leadership Team

Key people at Antiportfolio Ventures.

Ryan Morgan

Partner

Deep Dive

High-Level Overview

Antiportfolio Ventures is not a traditional investment firm with a public-facing mission or portfolio; rather, the term "anti-portfolio" refers to a concept popularized by venture capital firms like Bessemer Venture Partners. It represents the collection of notable startups and investment opportunities that a firm had the chance to invest in but ultimately passed on, which later became highly successful. This concept serves as a reflective tool for venture capitalists to learn from missed opportunities and improve future decision-making. The anti-portfolio highlights the inherent uncertainty and risk in venture investing, emphasizing that even top firms miss out on major successes due to factors like valuation concerns, market skepticism, or strategic focus[1][2][4].

Origin Story

The anti-portfolio concept was notably formalized by Bessemer Venture Partners, one of the oldest and most prestigious venture capital firms in the U.S., with roots tracing back to the Carnegie Steel empire. Bessemer publicly shares its anti-portfolio as a candid acknowledgment of missed investments in companies like Apple, Airbnb, and Google. These missed opportunities arose from various reasons including valuation concerns, market timing, or strategic decisions to support other firms. The practice of owning and analyzing an anti-portfolio has evolved as a learning mechanism within venture capital to refine investment strategies and avoid repeating past mistakes[4][7].

Core Differentiators

Reflective Investment Model: Unlike typical VC firms focused solely on portfolio successes, the anti-portfolio approach embraces transparency about missed opportunities to enhance future decision-making.
Learning from Failure: It institutionalizes the practice of analyzing why certain investments were passed on, fostering a culture of continuous improvement.
Data-Informed Decision Making: Tools like the Anti-Portfolio Performance Evaluation (APPE) dashboard help compare invested versus non-invested companies to better understand decision outcomes under uncertainty[2].
Cultural Openness: Publicly sharing an anti-portfolio is rare and signals humility and a long-term perspective on venture investing[4][6].

Role in the Broader Tech Landscape

The anti-portfolio concept rides on the trend of increasing transparency and data-driven decision-making in venture capital. It acknowledges the highly uncertain and asymmetric payoff nature of startup investing, where missing a few big winners is inevitable. By openly discussing missed opportunities, firms contribute to a broader ecosystem culture that values learning over perfection. This approach helps demystify venture capital’s hit-or-miss nature, encouraging founders and investors to better understand market timing, valuation challenges, and the importance of team dynamics. It also highlights how market forces and timing critically influence startup success beyond just the product or team[2][4][7].

Quick Take & Future Outlook

Going forward, the anti-portfolio concept is likely to become more integrated into venture capital firms’ strategic frameworks, supported by advanced analytics and AI to refine deal evaluation. As the VC landscape grows more competitive and data-rich, firms that systematically learn from both their hits and misses will gain an edge. This reflective practice may also inspire more transparent communication with founders about investment decisions. Ultimately, the anti-portfolio serves as a humbling reminder that even the best investors cannot predict every success, but they can improve by learning from what they missed. This mindset will shape how venture capital evolves in an increasingly complex and fast-moving tech ecosystem[2][7].

Sources

High-Level Overview

Origin Story

Core Differentiators

Reflective Investment Model: Unlike typical VC firms focused solely on portfolio successes, the anti-portfolio approach embraces transparency about missed opportunities to enhance future decision-making.
Learning from Failure: It institutionalizes the practice of analyzing why certain investments were passed on, fostering a culture of continuous improvement.
Data-Informed Decision Making: Tools like the Anti-Portfolio Performance Evaluation (APPE) dashboard help compare invested versus non-invested companies to better understand decision outcomes under uncertainty[2].
Cultural Openness: Publicly sharing an anti-portfolio is rare and signals humility and a long-term perspective on venture investing[4][6].