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Picks & Shovels has raised $160K across 1 funding round.
Key people at Picks & Shovels.
Picks & Shovels has raised $160K in total across 1 funding round.
Picks & Shovels is an operator-led venture capital firm specializing in pre-seed and seed stage investments. It backs startups building essential tools and infrastructure, particularly within the cryptocurrency ecosystem and broader business applications. Its investment strategy focuses on foundational technologies supporting growth and innovation across industries, embodying the "picks and shovels" approach.
Josh Schlisserman founded the firm in 2022, serving as its solo General Partner. Schlisserman’s operational and entrepreneurial background informs its investment philosophy, driven by the insight into the lasting value of companies providing critical underlying services rather than directly competing in end markets. This perspective guides early-stage investment decisions.
Picks & Shovels supports nascent startups developing foundational technologies. The firm's vision is to foster a resilient ecosystem by investing in companies that supply the critical infrastructure and tools necessary for widespread innovation and expansion. It aims to partner with founders building the indispensable components of future technological landscapes.
Picks & Shovels has raised $160K in total across 1 funding round.
Picks & Shovels's investors include Kickstart Fund, Gil Penchina, Amit Mital, Peter Kazanjy, Preetha Parthasarathy, Tikhon Bernstam.
Picks & Shovels is not a single technology company but rather a strategic investment approach focused on companies that supply essential tools, infrastructure, and services underpinning emerging technology industries, especially in sectors like semiconductors, AI, and data centers. This approach targets firms that provide the foundational "picks and shovels"—such as chipmakers, equipment suppliers, and construction firms—that benefit broadly from industry growth regardless of which front-line companies succeed[1][3]. These companies serve technology manufacturers, data center operators, and infrastructure developers by solving critical supply chain and operational challenges, offering investors a way to capitalize on technological revolutions with potentially lower risk than investing directly in headline-grabbing innovators[1][2].
The "picks and shovels" concept originates from the California Gold Rush analogy, where suppliers of mining equipment often profited more reliably than the miners themselves. This investment philosophy has evolved to focus on identifying companies that form the backbone of modern tech ecosystems, such as semiconductor equipment manufacturers and infrastructure providers. While not a company per se, this approach has been embraced and refined by investment firms and funds over recent decades, adapting to new industrial revolutions like AI and clean energy infrastructure[1][5]. Key examples include firms like ASML and TSMC, which have become indispensable in semiconductor manufacturing, illustrating the evolution from simple supply to high-tech enablers[1][3].
The picks and shovels strategy rides the wave of transformative trends such as AI, semiconductor innovation, data center expansion, and clean energy infrastructure modernization. Timing is crucial as these sectors require massive, ongoing investments in physical and technological infrastructure, creating sustained demand for suppliers. Market forces like rising electricity demand, government incentives, and global semiconductor competition favor picks-and-shovels companies, positioning them as stable beneficiaries of broad tech growth rather than volatile innovators. Their influence extends to enabling the entire ecosystem by providing the tools and services without which front-line tech companies cannot operate or scale[1][3][6].
Looking ahead, picks and shovels investments are poised to benefit from continued AI adoption, semiconductor advancements, and infrastructure upgrades driven by energy transition and digitalization. As technology cycles accelerate, companies supplying foundational tools and services will likely see sustained demand and growth. Their influence may deepen as they become more specialized and integrated into emerging tech ecosystems, offering investors a compelling blend of growth and resilience. This approach underscores the value of looking beyond headline tech stocks to the essential enablers powering the next industrial revolution[1][3][4].
Key people at Picks & Shovels.
Picks & Shovels has raised $160K across 1 funding round. Most recently, it raised $160K Seed in October 2017.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 1, 2023 | Blip | $2.0M Seed | Susa Ventures, Browder Capital, Dash Fund, Picks and Shovels, Rief Ventures, Shrug Capital, Wischoff Ventures | Accomplice VC, Ambush Capital, Asylum Ventures, Fifty Years, Haun Ventures, Inflection, Jefferies, Union Square Ventures, Y Combinator, Aaron Harris, Charlie Songhurst, Justin Kitch, Jutta Steiner, Mike Volpe |
| Jul 15, 2022 | Assistiv Labs | $1.0M Pre-Seed | Zenda Capital | George Zamfir, Randall Kent, Picks and Shovels |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2017 | $160K Seed | Kickstart Fund, Gil Penchina, Amit Mital, Peter Kazanjy, Preetha Parthasarathy, Tikhon Bernstam |