Draper Triangle

ActiveVenture Capital

Updated: Jan 6, 2026 ·

About

Draper Triangle is a venture capital firm that partners with the Midwest’s most extraordinary entrepreneurs who set out to change the world. Our firm was formed in the crucible of Pittsburgh’s reinvention from Steel City to leading center of technology.

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Oct 1, 2023	Thread	$15.0M Series A	—	Balderton Capital, Beringea, Greylock, Innovation Works, Starburst Ventures, The Founder Coach, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jared Kopf, Kevin O'Leary, Michael Birch, Nirav Tolia
Apr 1, 2022	SoterAI	$12.0M Series A	—	AV8 Ventures, Fusion Fund, Lead Pencil LLC, Unless, Sahin Boydas
Jun 1, 2021	Moonshot	$7.0M Series A	—	Balderton Capital, Beringea, Greylock, Innovation Works, Starburst Ventures, The Founder Coach, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jared Kopf, Kevin O'Leary, Michael Birch
Nov 1, 2020	Sustainment	$2.0M Seed	—	AV8 Ventures, Fusion Fund, Lead Pencil LLC, Unless, Sahin Boydas
Jun 1, 2019	Infarm	$100.0M Series B	—	Alate Partners, Jana Messerschmidt, Balderton Capital, Beringea, Cherry Ventures, Craft Ventures, CRV, Goat Capital, Goldcrest Capital, Greycroft, Greylock, Index Ventures, Innovation Works, M13, MATH Venture Partners, Relay Ventures, Sequoia Capital, Spark Capital, Starburst Ventures, The Founder Coach, Tusk Venture Partners, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jan Deepen, Jared Kopf, Kevin O'Leary, Michael Birch, Ning Sung, Oskar Hartmann, Stefan Jeschonnek, Steve Salis, Travis Vanderzanden
Jun 1, 2018	Locomation	$6.0M Seed	—	Acrew Capital, Amplify.LA, Andreessen Horowitz, AV8 Ventures, Bam Ventures, B Capital Group, Bonfire Ventures, BoxGroup, ENIAC Ventures, Fika Ventures, FundersClub, Fusion Fund, Greycroft, Homebrew, iNovia Capital, Kindred Ventures, Kohala Ventures, KW Angel Fund, Lightspeed Venture Partners, Liquid 2 Ventures, Aaron Jacobson, Pitbull Ventures, Rebel Fund, S28 Capital, Signum Capital, SoftBank Investment Advisers, Soma Capital, Techstars, Wilshire Lane Capital, Wonder Ventures, Y Combinator, Zintinus, Ashish Bhatia, Clark Landry, Dan Wright, Douglas Carlisle, Gokul Rajaram, Jon Runyan, Karine Hsu, Michael Ma, Ryan Chan, Stelian Balta, Trevor Wright
Feb 1, 2018	Infarm	$25.0M Series A	—	Balderton Capital, Beringea, Cherry Ventures, Greylock, Innovation Works, Starburst Ventures, The Founder Coach, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jan Deepen, Jared Kopf, Kevin O'Leary, Michael Birch, Oskar Hartmann, Stefan Jeschonnek
Mar 1, 2016	Containership	$2.0M Seed	—	—
Mar 1, 2016	Netomi	$3.0M Seed	—	01 Advisors, Alpha JWC Ventures, Atreides Management, Balderton Capital, Beringea, Bessemer Venture Partners, Betaworks Ventures, Better Tomorrow Ventures, Bowery Capital, BoxGroup, C2 Investment, Charge Ventures, Convective Capital, DG Incubation, DST Global, Jenny Fielding, Scott Hartley, Flashpoint VC, Founders Fund, Goat Capital, Greylock, Gutter Capital, Hannah Grey, Indicator Ventures, Innovation Works, Javelin Venture Partners, Jungle Ventures, Kima Ventures, Locus Ventures, Matrix, Next Level Ventures, Jeff Richards, Primary Venture Partners, Silicon Badia, Social Starts, Starburst Ventures, Supernode Ventures, The Founder Coach, The Valley Fund, Waverley Capital, Y Combinator, David Haywood Smith, Drew Houston, Emmett Shear, Eric Wu, Errol Damelin, Ian Hogarth, James Beshara, Jared Kopf, Joe Greenstein, Kevin O'Leary, Kyle Vogt, Marissa Mayer, Michael Birch, Sam Altman, Tikhon Bernstam, Trevor Blackwell
Mar 1, 2016	Charlie	$1.0M Seed	—	50 Partners, Anorak Ventures, Balderton Capital, Beringea, BlueYard Capital, byFounders, Cherry Ventures, FirstMark Capital, Greylock, Innovation Works, Partech Ventures, Starburst Ventures, The Founder Coach, Waverley Capital, Andrew Lacy, Brendan Iribe, David Haywood Smith, Errol Damelin, Jan Erik Solem, Jared Kopf, Kevin O'Leary, Maxime Paradis, Michael Birch, Oleg Tscheltzoff, Shriya Nevatia, Stefan Lindeberg
Jan 1, 2016	Citymapper	$40.0M Series B	—	Accel, Andreessen Horowitz, AXA Strategic Ventures, Bain Capital Ventures, Balderton Capital, Benchmark, Beringea, Caffeinated Capital, Cherry Ventures, Kevin Ding, DN Capital, DST Global, Electric Capital, Felicis Ventures, FJ Labs, Founder Collective, FPV Fund, General Atlantic, General Catalyst, Giza Polish Ventures, Greylock, Human Augmentation Syndicate, ICONIQ Capital, Index Ventures, Innovation Works, InterWest, Kapor Capital, Kleiner Perkins, Lowercarbon Capital, Piton Capital, Sherpalo Ventures, Sound Ventures, Starburst Ventures, SV Angel, The Founder Coach, The Hit Forge, Vertex Ventures, Waverley Capital, Y Combinator, Brian Sugar, Errol Damelin, Felix Jahn, Ian Hogarth, Jared Kopf, Joshua Schachter, Kevin O'Leary, Michael Birch, Nils Johnson, Oskar Hartmann, Sam Altman
Oct 1, 2015	Insureon	$31.0M Series B	—	Armilar Venture Partners, Balderton Capital, Beringea, Citi Ventures, Greylock, Innovation Works, Oak HC/FT, PruVen Capital, Sapphire Ventures, Starburst Ventures, The Founder Coach, Waverley Capital, David Haywood Smith, Errol Damelin, Ian Hogarth, Jared Kopf, Kevin O'Leary, Michael Birch
Jun 1, 2015	Thread	$3.0M Series A	—	—
Jan 1, 2015	Sendbloom	$1.0M Seed	—	1Flourish Capital, 5eyes Ventures, 8VC, A Capital, Advisors Fund LLC, Balderton Capital, Beringea, Bessemer Venture Partners, Bling Capital, Broadway Angels, Caffeinated Capital, CapitalG, David Namdar, CRV, Zachary Bogue, Flex Capital, Founders Fund, Freestyle Capital, Global Founders Capital, Gradient Ventures, Greylock, M.G. Siegler, Human Augmentation Syndicate, IDG Ventures, Innovation Endeavors, Innovation Works, iNovia Capital, Ironspring Ventures, Javelin Venture Partners, Jigsaw VC, Khosla Ventures, KRM Interests LLC, LAUNCH, Liquid 2 Ventures, Long Journey Ventures, Menlo Ventures, NEO, Nirmata-ai, Offline Ventures, Oyster Ventures, Partners Resolute, Practical Venture Capital, PS Investments, QueensBridge Venture Partners, Alexander Rosen, Gil Penchina, Roosh Ventures, Sequoia Capital, Slow Ventures, Soma Capital, Starburst Ventures, Streamlined Ventures, Summit Partners, The Founder Coach, The Hit Forge, Tiger Global Management, Triatomic Capital, Ulu Ventures, Uncork Capital, Upfront Ventures, Vayner RSE, Vertex Ventures Israel, Viola Ventures, Waverley Capital, Winklevoss Capital, Y Combinator, AJ Vaynerchuk, Akash Garg, Anil Dharni, Anthony Soohoo, Carmelo Anthony (Melo7 Tech Partners), David Haywood Smith, Dharmesh Shah, Eric Ries, Errol Damelin, Hadi Partovi, Ian Hogarth, Iqram Magdon-Ismail, Jabez Dewey, James Hong, Jared Kopf, Jeremy Stoppelman, Jim Lanzone, John Collison, Jonathan Boutelle, Josh Spear, Joshua Schachter, Karl Mehta, Kevin O'Leary, Konstantin von Unger, Marc Benioff, Mark Britto, Mark Goines, Matt Cutts, Matt Mazzeo, MG Siegler, Mike Hennessey, Narendra Rocherolle, Ofer Zinger, Othman Laraki, Philip Kaplan, Ralph Gootee, Rashaun Williams, Ronny Conway, Russell Fradin, Russ Fradin, Ryan Spoon, Scott Banister, Scott Belsky, Sumon Sadhu, Tim Ringel, Tracy Young, William Hockey, Yan-David Erlich, Ziv Kop
Sep 1, 2014	SchoolMint	$2.0M Seed	—	Balderton Capital, Beringea, Greylock, Innovation Works, REMUS Capital, Starburst Ventures, The Founder Coach, Waverley Capital, Y Combinator, David Haywood Smith, Errol Damelin, Ian Hogarth, Joshua Schachter, Kevin O'Leary, Michael Birch, Steve Chen
Jul 1, 2014	EarnIn	$4.0M Seed	—	Kevin Hartz, ACME Capital, Balderton Capital, Beringea, Caffeinated Capital, Catapult Capital, Coatue, Cota Capital, Craft Ventures, CrunchFund, Felicis Ventures, Gideon Yu, General Atlantic, Greylock, Haystack, Innovation Works, Khosla Ventures, Lakestar, Glenn Solomon, Offline Ventures, Saga, SciFi VC, Seven Seven Six, Starburst Ventures, The Founder Coach, The Hit Forge, Thrive Capital, Tribe Capital, Trinity Ventures, True Ventures, Waverley Capital, Y Combinator, Aaron Levie, Andy Rankin, Charlie Cheever, David Haywood Smith, Ian Hogarth, Jared Kopf, Jeff Seibert, Jeremy Stoppelman, Joe Greenstein, Karim Elsahy, Kevin O'Leary, Louis Beryl, Michael Birch, Oliver Thylmann, Sam Altman, Wayne Chang

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Draper Triangle.

Zach Malone

Principal

Leadership Team

Key people at Draper Triangle.

Zach Malone

Principal

Deep Dive

High-Level Overview

Draper Triangle Ventures is a Pittsburgh-based early-stage venture capital firm that partners with extraordinary entrepreneurs primarily in the Midwest. Their mission is to fund visionary founders who aim to change the world by supporting disruptive technologies across sectors such as software, robotics, big data analytics, IoT, medical devices, and mobile applications. They focus on early and seed-stage investments, typically leading or co-leading Series A rounds with initial investments ranging from $250,000 to $2 million. Draper Triangle emphasizes a people-focused approach, providing not only capital but also team building, strategic advice, and operational support to help startups maximize their potential. Their portfolio includes over 100 investments in innovative regional companies, reflecting a strong impact on the Midwest startup ecosystem by fueling technology-driven entrepreneurship[1][2][4].

Origin Story

Founded in 1999 in Pittsburgh, Draper Triangle was born out of the city’s transformation from a steel industry hub to a technology and innovation center. The firm has raised and deployed over $200 million across three funds, evolving its focus to early-stage technology ventures with high market potential. Key partners include managing directors such as Mike Stubler, Jonathan Murray, and Will Indest, who bring decades of combined experience. Draper Triangle’s roots are deeply tied to the Midwest’s entrepreneurial renaissance, supporting startups that build on the region’s legacy of industrial innovation by fostering new technology sectors[3][4].

Core Differentiators

Unique Investment Model: Focus on early and seed-stage investments with active involvement as lead or co-lead investors in Series A rounds.
Network Strength: Part of the Draper Venture Network, a global collective of venture capital firms that share resources, strategies, and deal flow.
Track Record: Over 105 investments with a portfolio spanning software, robotics, big data, IoT, and medical devices.
Operating Support: Provides hands-on support beyond capital, including team building, strategic guidance, and board participation.
Regional Focus: Deep expertise and commitment to the Midwest entrepreneurial ecosystem, leveraging local universities and accelerators.

Role in the Broader Tech Landscape

Draper Triangle rides the wave of the Midwest’s resurgence as a technology innovation hub, capitalizing on the region’s strong academic institutions, growing startup ecosystems, and industrial heritage. The timing aligns with increased venture capital interest in non-coastal U.S. markets, where cost advantages and talent pools are expanding. By focusing on emerging sectors like robotics, big data analytics, and connected devices, Draper Triangle helps shape the future of technology while fostering economic growth in the Midwest. Their involvement strengthens the ecosystem by connecting startups to a broader network of resources and capital, accelerating regional innovation[4][5].

Quick Take & Future Outlook

Looking ahead, Draper Triangle is positioned to deepen its influence as a premier early-stage investor in the Midwest, potentially expanding its fund size and sector focus to capture emerging trends such as AI, autonomous systems, and healthcare technology. As the Midwest continues to attract entrepreneurial talent and capital, Draper Triangle’s role as a trusted partner and network hub will likely grow, helping startups scale globally. Their evolution into Magarac Venture Partners signals a strategic move to become the go-to venture capital firm for founders in the region, reinforcing their commitment to driving the next wave of technological innovation[3][4].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Focus on early and seed-stage investments with active involvement as lead or co-lead investors in Series A rounds.
Network Strength: Part of the Draper Venture Network, a global collective of venture capital firms that share resources, strategies, and deal flow.
Track Record: Over 105 investments with a portfolio spanning software, robotics, big data, IoT, and medical devices.
Operating Support: Provides hands-on support beyond capital, including team building, strategic guidance, and board participation.
Regional Focus: Deep expertise and commitment to the Midwest entrepreneurial ecosystem, leveraging local universities and accelerators.