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§ Venture Capital · USA
Venture capital firm investing in deep technology startups, focused on AI, cybersecurity, quantum computing, Web3, and healthcare.
Innovating Capital is a venture capital firm that invests in deep technology companies with disruptive potential across society, prioritizing founder-first approaches in areas like AI, cybersecurity, quantum computing, Web3, and healthcare. The firm leverages extensive domain expertise to support portfolio growth from early to growth stages, targeting technology startups achieving breakthroughs in their respective fields. As of Q3 2025, Innovating Capital actively deploys capital across more than 45 portfolio companies, demonstrating a consistent investment pace. Their portfolio includes recognizable names such as Strata, ORCA Computing, Injective, Cohesity, and Cybin, reflecting a diverse range of deep tech investments. General Partner Pen King is involved in guiding the firm's strategic investments. In January 2026, the firm notably led an investment round in LIS Technologies, an electronic equipment company.
Key people at Innovating Capital.
Innovating Capital was founded in 2017 by Pen King Jr. (Co Founder and Partner).
Key people at Innovating Capital.
Innovating Capital was founded in 2017 by Pen King Jr. (Co Founder and Partner).
Innovating Capital has 4 tracked investments across 4 companies. The latest tracked deal is $10.7M Seed in Lumion in June 2025.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jun 16, 2025 | Lumion | $10.7M Seed | TTV Capital | Creativeco Capital, Nine Four Ventures, State OF Wyoming, Tusk Venture Partners |
| May 19, 2025 | LIS Technologies | $11.9M Other Equity | Innovating Capital | — |
| Jan 1, 2023 | Strata Identity | $26.0M Series B | Marcus Bartram | Acequia Capital, A'Z Angels, Cadenza Capital Management, Insight Partners, Juniper Networks, Menlo Ventures, RON Bernal, Norwest Venture Partners, Paradigm, Picus Capital, QED Investors, Sapphire Ventures, Sequel, Apoorva Ruparel, Musaab Hakami, Russell Cook, ForgePoint Capital, Anthology Fund |
| Jul 1, 2020 | Injective | $3.0M Seed | Pantera Capital | Grasshopper Capital, Symbolic Capital, Axia8 Ventures, Bitlink Capital, Bitscale Capital, BoxOne Ventures, Cabin VC, K42, Krypital Group, QCP Soteria |
Innovating Capital is a Greenwich, Connecticut-based venture capital firm founded in 2017 that invests in early-stage, growth, and lower middle-market companies driving positive societal change through deep technology.[1][2][3][4] Its mission centers on backing founders at the forefront of innovation, leveraging domain expertise in disruptive sectors like Cybersecurity, Enterprise Infrastructure, Digital Health, Manufacturing, Fintech, Insurance, Deep Tech, Biotech, Hardware, and Life Sciences to foster value creation via buy-and-build and incubation strategies.[1][2][3][5] The firm emphasizes a founder-first philosophy, targeting pre-seed, seed, and Series A rounds with check sizes from $0-$1M, primarily in the US, and has managed 9 closed funds plus one in-market since 2020.[4][5]
With 14 employees and a privately held structure, Innovating Capital impacts the startup ecosystem by providing operational support and thought leadership on trends like blockchain, service mesh, and crypto M&A, as seen in its portfolio companies (e.g., Strata in cybersecurity, Intelas in enterprise CRE data, ORCA in photonic quantum computing, ImperativeX in AI-driven fintech) and recent analyses.[3]
Innovating Capital was established in 2017 in Greenwich, Connecticut, as a premier asset fund evolving into a deep technology investor focused on technology-driven founders creating societal impact.[1][4] Key partners include Anthony Georgiades (General Partner), Andrew Amarosa (Investment Associate), Cody Phillips and Devang Thakor (Venture Partners), reflecting a team blending investment acumen with domain expertise.[4] The firm's focus has shifted toward "infinitely curious, innovation-obsessed" strategies, launching multiple funds from 2020 onward—including 9 closed funds and one opened in March 2022—specializing in incubation and buy-and-build in high-disruption areas.[1][3][4] Early evolution emphasized backing visionary founders, with contact points like tiffany@innovating.capital signaling a hands-on, network-driven approach.[5]
Innovating Capital rides the wave of deep tech disruption, capitalizing on trends like AI optimization, quantum computing, multi-cloud security, and blockchain for enterprise operations amid rising demand for societal-impact innovations.[3] Timing aligns with post-crypto winter M&A surges and remote-work-driven needs for secure, efficient infrastructure, as highlighted in their analyses of Bitcoin's thaw and service mesh solutions.[3] Market forces favoring them include growth in fintech efficiency (e.g., ImperativeX), unstructured data management (Intelas), and photonic quantum advancements (ORCA), positioning the firm to influence ecosystems by incubating scalable solutions in underserved lower middle-market segments.[1][3] By amplifying founder visions in high-barrier sectors, it contributes to broader tech resilience against IT shortfalls and data silos.[3]
Innovating Capital is poised to expand its 10-fund track record by targeting emerging deep tech waves like AI-blockchain synergies and quantum scaling, with its in-market fund (opened 2022) fueling more pre-seed/seed bets.[3][4] Trends such as enterprise blockchain adoption and multi-cloud security will shape its trajectory, potentially growing AUM through successful exits in cybersecurity and fintech amid favorable M&A climates.[1][3] Its influence may evolve from niche incubator to broader ecosystem shaper, leveraging domain expertise to back the next cohort of positive-change founders—reinforcing its core conviction that technology's disruptive power drives societal progress.[2][3]
