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Initialized Capital

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American venture capital fund
Initialized Capital
IndustryVenture Capital
Founded2011
Founder
HeadquartersSan Francisco, California, United States
Key people
  • Jen Wolf (Managing Partner)
  • Brett Gibson (Managing Partner)
Websiteinitialized.com

Initialized Capital is a venture capital fund founded in 2011 and headquartered in San Francisco. It was founded by Alexis Ohanian, Harjeet Taggar, and Garry Tan.

As of 2021, it has raised more than $3.2 billion in assets. Initialized Capital has 23 portfolio companies it invested in at seed that have since become unicorns, including Coinbase, Ro, Cruise Automation, Instacart, Flexport, Opendoor, Algolia, Goat Group, Rippling, Truepill, and CoinTracker.

History

Initialized raised $7 million in its first fund. In February 2012, it filed its Form D notice of exempt offering of securities. It raised $39 million in its second fund in August 2013.

In 2013, Initialized Capital became an early investor in Coinbase, wiring the cryptocurrency app's founder Brian Armstrong $200,000. Garry Tan left Y Combinator in 2015 to focus on Initialized full time.

On June 7, 2016, the firm announced a $100M target for its third fund and then closed $125 million.

In late 2018, it raised a $225 million fund, the company's fourth.

In June 2020, Ohanian ended his role as Managing Partner at Initialized.

In August 2020, the firm raised $230 million, the company's fifth round.

In December 2021, Initialized Capital completed its sixth funding round, raising $700 million to invest in startups.

In August 2022, it was announced that Garry Tan would be stepping back to re-join Y Combinator as CEO. Jen Wolf and Brett Gibson have taken over leadership of the firm in Tan's absence.

Recognition

Garry Tan has been listed on the Forbes Midas List from 2018-2022.

References

  1. "SEC FORM D/A". Sec.gov. Retrieved March 6, 2016.
  2. ^ Geron, Tomio (October 2, 2018). "Initialized Capital Raises $225 Million for Fourth Fund". WSJ. Retrieved August 15, 2019.
  3. ^ McBride, Sarah (December 14, 2021). "Initialized Capital Raises $700 Million, Launches 2 New Funds". Bloomberg. Retrieved July 17, 2022.
  4. O'Brien, Sara Ashley (October 2, 2018). "Alexis Ohanian's VC firm raises new $225M fund | CNN Business". CNN.
  5. "VC Firm Initialized Raises $230 Million for Early-Stage Deals". Bloomberg.com. 14 August 2020.
  6. Gené Teare (February 23, 2022). "Under The Hood: How Early-Stage Investor Initialized Spots Future Unicorns". Crunchbase News. Retrieved July 17, 2022.
  7. Russell, Jon (April 10, 2018). "CoinTracker Raises $1.5M to make tracking crypto investments easy for anyone". TechCrunch. Retrieved July 17, 2022.
  8. "Initialized Capital Closes Second Seed Fund at $39.2M". Pevc.dowjones.com. Retrieved March 13, 2016.
  9. ^ Konrad, Alex (July 9, 2018). "At Initialized Capital, Odd Couple Alexis Ohanian And Garry Tan Look To Do VC Differently". Forbes. Retrieved August 15, 2019.
  10. Yeung, Ken (October 24, 2016). "Initialized Capital raises $115 million for its third fund". Venture Beat. Retrieved August 15, 2019.
  11. Geron, Tomio (2018-10-02). "Initialized Capital Raises $225 Million for Fourth Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-04.
  12. ^ Tan, Gillian; Roof, Katie (2020-08-14). "VC Firm Initialized Raises $230 Million for Early-Stage Deals". Bloomberg. Retrieved 2023-08-22.
  13. Mathews, Jessica (2022-08-31). "Early-stage VC firm Initialized Capital loses last co-founder as Y Combinator gets a new CEO". Fortune. Retrieved 2022-12-29.
  14. Mathews, Jessica (2022-12-09). "Inside Initialized Capital's next moves as co-founder and star investor Garry Tan steps back". Fortune. Retrieved 2022-12-29.
  15. "Newcomers To The 2019 Midas List: Who Cracked The Ranks Of Best VCs In The World". Forbes. April 2, 2019. Retrieved August 14, 2019.
  16. "The Midas List". Forbes. Retrieved July 17, 2022.
  17. "The Midas List". Forbes. Retrieved July 17, 2022.
  18. "The 2018 Midas Brink List: Meet Venture Capital's Up-And-Comers". Forbes. April 3, 2018. Retrieved July 17, 2022.
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