Leadout Capital

Leadout Capital is an early-stage venture capital fund.

ActiveVenture Capital

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Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Oct 1, 2025	Tycho AI	$10.0M Series A	—	Adjacent, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Gaingels, Hustle Fund, Metaplanet, Round One Capital, Shrug Capital, Splash Capital, Ulu Ventures, Derrick Li, Eric Ries, Jaan Tallinn, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
Jul 1, 2025	Coverflow	$5.0M Seed	—	Adjacent, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Gaingels, Hustle Fund, Metaplanet, Round One Capital, Shrug Capital, Splash Capital, Ulu Ventures, Eric Ries, Jaan Tallinn, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
May 1, 2025	BlockSpaces	$2.0M Venture Round	—	Mark Pincus
Apr 1, 2025	Near Space Labs	$20.0M Series B	—	Bold Capital Partners, Crosslink Capital, General Catalyst, Insight Partners, March Capital, Toyota Ventures, Keith Masback
Jun 1, 2024	Argon AI	$6.0M Seed	—	Bold Capital Partners, Crosslink Capital, Toyota Ventures, Keith Masback, Insight Partners, Y Combinator
Nov 1, 2022	TicketRev	$500K Seed	—	500 Falcons, 500 Startups, 500 Global, Bread and Butter Ventures, Expa, Hambro Perks, Jude Gomila Rolling Fund, LombardStreet Ventures, Soma Capital, Daren Cotter, Musaab Hakami
Sep 1, 2022	CropConex	$2.0M Seed	—	Adjacent, Animo Ventures, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Gaingels, Hustle Fund, LombardStreet Ventures, Metaplanet, Round One Capital, Shrug Capital, Speedinvest, Splash Capital, Ulu Ventures, Derrick Li, Eric Ries, Erik Bovee, Jaan Tallinn, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Mathias Ockenfels, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
May 1, 2022	Hugging Face	$100.0M Series C	—	A Capital, Accel, Act One Ventures, Addition, Adjacent, Anthemis Group, Arrive, Battery Ventures, Beckett Layne Ventures, Benchmark, Betaworks Ventures, BITKRAFT Ventures, Bonfire Ventures, Boost VC, BoxGroup, Browder Capital, Buckley Ventures, CapitalX, Coelius Capital, Composite Ventures, Contrary Capital, Crosscut Ventures, Cyberstarts VC, Kevin Ding, Dreamers VC, Drive Capital, E1 Ventures, Eight Roads Ventures, Factorial, Felicis Ventures, FirstMark Capital, Founders Fund, Future Shape, Gaingels, General Atlantic, GoAhead Ventures, Graph Ventures, Great Oaks Venture Capital, Griffin Gaming Partners, Highbury Group, Hustle Fund, Insight Partners, IVP, Koch Fund, KRM Interests LLC, Lakeside Capital, Lead Edge Capital, Lightspeed Venture Partners, Liquid 2 Ventures, Long Ventures Partners, Lytical Ventures, Matchstick Ventures, Merus Capital, Metaplanet, Scott Sandell, NFX, Offline Ventures, Paradigm, Pareto Holdings, Partners Resolute, Predictive VC, Revolution Growth, Round One Capital, SCOR Ventures, Sequoia Capital, Shrug Capital, SignalFire, Splash Capital, Springdale Ventures, Henry Fertik, SV Angel, Marco DeMeireles, The Hit Forge, Thirty Five Ventures, Torch Capital, Ulu Ventures, Alex Rodriguez, Abrahami Avishai, Charlie Cheever, Clark Landry, Daren Cotter, Derrick Li, Eric Ries, Frederic Kerrest, Immad Akhund, Jaan Tallinn, Jennifer Lopez, Jiake Liu, Joe Greenstein, Karen King, Kevin Colas, Lev Ekster, Mark Cuban, Mark Pincus, Matthew Dellavedova, Michael Ma, Rashaun Williams, Ronny Conway, Ron Pragides, Ryan Carlson, Ryan Wyatt, Sahil Lavingia, Scott Belsky, Sheila Vashee, Tim Kendall, Todd Corenson
Apr 1, 2022	Waivr	$1.0M Seed	—	20VC, 2.12 Angels, Adjacent, Adverb Ventures, Andreessen Horowitz, Basecamp Fund, Betaworks Ventures, BoxGroup, Chapter One Ventures, Contrary Capital, Costanoa Ventures, Deciens Capital, Factorial, FirstMark Capital, First Republic Bank, Forum Ventures, Gaingels, Hustle Fund, Metaplanet, NextView Ventures, Oak HC/FT, Oceans, Oper8r, Poseidon Asset Management, Hayden Simmons, Redpoint Ventures, Round One Capital, Shrug Capital, Splash Capital, The Fintech Fund, Ulu Ventures, Derrick Li, Drew Houston, Eric Ries, Howie Liu, Jaan Tallinn, Jeff Morris, Joe Greenstein, Karen King, Manish Patel, Mark Cuban, Mark Pincus, Matthew Dellavedova, Rohini Pandhi, Ron Pragides, Scott Belsky, Sheila Vashee, Stewart Butterfield, Tim Kendall, Wayne Chang
Feb 1, 2022	Revel	$130.0M Series B	—	Bold Capital Partners, Coatue, Crosslink Capital, Eclipse Ventures, Infinite Niches, Maniv Mobility, Root Ventures, The General Partnership, Toyota Ventures, Unpopular Ventures, Keith Masback, Prescott Watson
Feb 1, 2022	Spoke	$1.0M Seed	—	Ada Ventures, Creandum, Passion Capital, Redpoint Ventures, Yext, Brian Distelburger, Charles Delingpole, Ed Zimmerman, Michael Pennington, Nikhil Shah, Toby Moore
Jan 1, 2022	BlockSpaces	$6.0M Seed	—	Boost Capital Partners, Kleiner Perkins, Kevin Lin, Mark Pincus
Dec 1, 2021	KalendarAI	$3.0M Seed	—	Adjacent, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Gaingels, Hustle Fund, Metaplanet, Round One Capital, Shrug Capital, Splash Capital, Ulu Ventures, Derrick Li, Jaan Tallinn, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
Nov 1, 2021	Anyword	$21.0M Series B	—	5eyes Ventures, Bessemer Venture Partners, Flex Capital, Innovation Endeavors, Jigsaw VC, Redpoint Ventures, Rose Innovation Ltd, UpHonest Capital, Vertex Ventures Israel, Viola Ventures, Yext, Akshay Kothari, Bill Gates, Brian Distelburger, Ed Zimmerman, Marc Benioff, Ofer Zinger, Ric Fulop, Russell Dreisenstock, Yossi Vardi, Ziv Kop
Nov 1, 2021	Momentum	$5.0M Seed	—	Adjacent, Afore Capital, Betaworks Ventures, Contrary Capital, Divergent Capital, Factorial, FirstMark Capital, Flex Capital, FTX Ventures, Gaingels, Hustle Fund, Metaplanet, Pareto Holdings, Round One Capital, Sequoia Capital, Shrug Capital, Splash Capital, The Hit Forge, Ulu Ventures, Akshay Kothari, Derrick Li, Eric Ries, Jaan Tallinn, Jeremy Stoppelman, Jeremy Yap, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Matthew Dellavedova, Nitay Joffe, Ron Pragides, Sahil Lavingia, Sam Blond, Scott Belsky, Tim Kendall, Varadh Jain
Oct 1, 2021	SEQUENTIAL	$2.0M Seed	—	Adjacent, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Fontinalis Partners, Gaingels, Hustle Fund, Mayfield, Metaplanet, Outsized Ventures, Rain Capital, Round One Capital, Scrum Ventures, Shrug Capital, SOSV, Splash Capital, Techstart Ventures, Ulu Ventures, Apoorva Ruparel, Ashish Toshniwal, Calum Forsyth, Derrick Li, Eric Ries, Gustavo Pessoa, Harris Barton, Jaan Tallinn, Joe Greenstein, John Makinson, Karen King, Marc Benioff, Mark Cuban, Mark Pincus, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
Sep 1, 2021	Near Space Labs	$13.0M Series A	—	Andreessen Horowitz, Benhamou Global Ventures, Crosslink Capital, Emergence Capital, General Catalyst, Insight Partners, March Capital, Toyota Ventures, Uday Sandhu
Sep 1, 2021	theCut	$5.0M Seed	—	Pear VC, Ben Davenport, Charlie Cheever, Ellen Pao
May 1, 2021	TTYL	$20.0M Series A	—	Addition, Andreessen Horowitz, Audrey Capital, Benchmark, Daffy, Gigascale Capital, Greylock, Hanabi Capital, Homebrew, LAUNCH, Red Swan Ventures, Science, Social Capital, Spark Capital, True Ventures, Adam D'Angelo, Alison Pincus, Marissa Mayer, Mark Pincus, Tim Ferriss, Tim Kendall
Apr 1, 2021	Rapchat	$2.0M Seed	—	Adjacent, Betaworks Ventures, Contrary Capital, Factorial, FirstMark Capital, Gaingels, Hustle Fund, Metaplanet, Round One Capital, Shrug Capital, Splash Capital, Ulu Ventures, Derrick Li, Eric Ries, Jaan Tallinn, Joe Greenstein, Karen King, Mark Cuban, Mark Pincus, Matthew Dellavedova, Ron Pragides, Sheila Vashee, Tim Kendall
Mar 1, 2021	Songclip (Audiobyte)	$11.0M Venture Round	—	Bold Capital Partners, Crosslink Capital, Evolution VC Partners, Poseidon Asset Management, Toyota Ventures
Mar 1, 2021	Manticore Games	$100.0M Series C	—	Addition, Andreessen Horowitz, Audrey Capital, Benchmark, BITKRAFT Ventures, Crosscut Ventures, Daffy, Gigascale Capital, Greylock, Hanabi Capital, Homebrew, LAUNCH, Red Swan Ventures, Science, Social Capital, Spark Capital, True Ventures, Adam D'Angelo, Alison Pincus, Marissa Mayer, Mark Pincus, Tim Ferriss, Tim Kendall
Mar 1, 2021	Neeva	$40.0M Series B	—	Addition, AIX Ventures, Amadeus Capital Partners, Andreessen Horowitz, Atomico, Audrey Capital, Ballistic Ventures, Benchmark, Daffy, Dell Technologies Capital, General Catalyst, Gigascale Capital, Greylock, Hanabi Capital, Hitachi Ventures, Homebrew, LAUNCH, Red Swan Ventures, Science, Sequoia Capital, Sequoia Capital China, Social Capital, Spark Capital, True Ventures, Adam D'Angelo, Alison Pincus, Greg Brockman, Marissa Mayer, Mark Pincus, Paul Holland, Shane Neman, Tim Ferriss, Tim Kendall
Feb 1, 2021	Truv	$4.0M Seed	—	A* Capital (A Star Capital), Addition, Adjacent, Andreessen Horowitz, Jana Messerschmidt, Audrey Capital, Betaworks Ventures, Contrary Capital, Dreamers VC, Electric Capital, Factorial, FirstMark Capital, Gaingels, General Catalyst, Hustle Fund, Interlock Partners, Khosla Ventures, Liquid 2 Ventures, Metaplanet, NewFund, Round One Capital, Shrug Capital, Sound Ventures, Splash Capital, Thirty Five Ventures, Tribe Capital, Ulu Ventures, Y Combinator, Adrian Aoun, Brad Bao, Bradley Horowitz, Derrick Li, Eric Ries, Jaan Tallinn, Jared Leto, Jeff Seibert, Joe Greenstein, Joshua Reeves, Karen King, Kevin Weil, Mark Cuban, Matthew Dellavedova, Mike Krieger, Odell Beckham Jr., Ron Pragides, Sam Altman, Sheila Vashee, Tim Kendall, Wayne Chang
Feb 1, 2021	LiSTR	$1.0M Seed	—	—

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Leadout Capital.

Leadership Team

Key people at Leadout Capital.

Deep Dive

# Leadout Capital

High-Level Overview

Leadout Capital is an early-stage venture capital fund with a mission to back resilient, underrepresented founders building innovative companies in technology-driven sectors. The firm’s investment philosophy centers on founder-market fit, prioritizing entrepreneurs who possess deep expertise and a unique perspective on the problems they’re solving. Leadout Capital is known for its commitment to diversity, with over 85% of its portfolio companies led by women or underrepresented minorities.

The fund invests across a broad range of sectors, including AI & deep tech, fintech, business productivity software, blockchain, and insurance technology. By focusing on companies with strong network effects, unique data sets, and long-term defensibility, Leadout Capital has played a significant role in shaping a more inclusive startup ecosystem. Their hands-on approach—providing fundraising assistance, strategic advisory, and customer introductions—has helped founders scale their businesses and access new opportunities.

Origin Story

Founded in 2018 by Alison Rosenthal, Leadout Capital emerged from a desire to address the persistent lack of diversity in venture capital and the broader tech industry. Rosenthal, along with key partners like Steve Brownlie and Dion Dong, built the firm around the belief that overlooked and underestimated founders often possess the grit and insight needed to build transformative companies. Over the years, Leadout Capital has evolved its focus to emphasize not just diversity, but also resilience, founder empathy, and operational excellence.

The firm’s early investments in companies like AtoB, Syky, and LifeRaft helped establish its reputation for identifying “non-obvious” founders and supporting them through critical growth stages. As the fund matured, it expanded its network and deepened its sector expertise, becoming a go-to partner for founders seeking both capital and strategic guidance.

Core Differentiators

Diversity-First Approach: Over 85% of Leadout Capital’s portfolio companies are led by women or underrepresented minorities, setting it apart in an industry where diversity remains a challenge.
Founder-Centric Model: The firm prioritizes founder-market fit and backs entrepreneurs with deep domain expertise, often serving as one of the first institutional investors.
Hands-On Support: Leadout Capital offers extensive operational support, including fundraising assistance, customer introductions, and strategic advisory, helping founders navigate complex growth challenges.
Network Strength: The team leverages a broad network of industry experts, investors, and operators to create value for portfolio companies.
Sector Agnosticism with a Focus on Tech: While sector-agnostic, Leadout Capital has a strong track record in AI, fintech, blockchain, and business software, reflecting its ability to identify emerging trends and high-potential founders.

Role in the Broader Tech Landscape

Leadout Capital is riding the wave of increased demand for diversity and inclusion in tech, as well as the growing recognition that underrepresented founders often bring fresh perspectives and innovative solutions. The firm’s focus on early-stage companies positions it at the forefront of technological disruption, particularly in areas like AI, blockchain, and fintech, where new entrants are reshaping traditional industries.

By championing resilient, overlooked founders, Leadout Capital is helping to democratize access to venture capital and foster a more equitable startup ecosystem. Its influence extends beyond individual investments, as the firm’s success stories inspire other investors to prioritize diversity and founder empathy. In a landscape where access to capital and networks remains uneven, Leadout Capital’s model offers a blueprint for how venture capital can drive both financial returns and social impact.

Quick Take & Future Outlook

Leadout Capital is poised to continue its growth as a leading voice for diversity and innovation in venture capital. As the tech industry grapples with issues of representation and inclusion, the firm’s commitment to backing underrepresented founders will likely become even more valuable. Future trends—such as the rise of AI, the expansion of fintech, and the increasing importance of network effects—will create new opportunities for Leadout Capital to identify and support high-potential companies.

The firm’s influence is likely to grow as more investors recognize the importance of diversity and founder empathy in driving long-term success. By staying true to its mission and continuing to provide hands-on support, Leadout Capital will remain a key player in shaping the next generation of tech leaders. Just as it began by challenging the status quo, Leadout Capital’s journey is a reminder that the most transformative ideas often come from those who have been overlooked.

Sources

# Leadout Capital

High-Level Overview

Origin Story

Core Differentiators

Diversity-First Approach: Over 85% of Leadout Capital’s portfolio companies are led by women or underrepresented minorities, setting it apart in an industry where diversity remains a challenge.
Founder-Centric Model: The firm prioritizes founder-market fit and backs entrepreneurs with deep domain expertise, often serving as one of the first institutional investors.
Hands-On Support: Leadout Capital offers extensive operational support, including fundraising assistance, customer introductions, and strategic advisory, helping founders navigate complex growth challenges.
Network Strength: The team leverages a broad network of industry experts, investors, and operators to create value for portfolio companies.
Sector Agnosticism with a Focus on Tech: While sector-agnostic, Leadout Capital has a strong track record in AI, fintech, blockchain, and business software, reflecting its ability to identify emerging trends and high-potential founders.