Initialized Capital

Initialized Capital is a venture capital fund founded in 2011 and headquartered in San Francisco. It was founded by Alexis Ohanian and Garry Tan.[1]

Initialized Capital
IndustryVenture Capital
Founded2011
HeadquartersSan Francisco
Key people
Garry Tan Managing Partner
Harjeet Taggar Founder
Alda Leu Dennis General Partner
Jen Wolf COO
Websiteinitialized.com

As of 2019, it has raised more than $500 million in funds.[2][3] Multiple investments have become "unicorns" valued above $1 billion, including Coinbase, Ro, Blend, Rippling, Cruise Automation and Instacart.[4][5]

History

Initialized raised $7 million in its first fund. In February 2012, it filed its Form D notice of exempt offering of securities.[6] It raised $39 million in its second fund on August 2013.[7]

In 2013, Initialized Capital became an early investor in Coinbase, wiring the cryptocurrency app's founder Brian Armstrong $200,000.[8] Garry Tan left Y Combinator in 2015 to focus on Initialized full time.[8]

On June 7, 2016 the firm announced a $100M target for its third fund and then closed $125 million.[9]

In late 2018, it raised a $225 million fund, the company's fourth and largest.[2][10]

In June 2020, Ohanian ended his role as Managing Partner at Initialized.[11]

In August 2020, the firm raised $230 million, the company's fifth and largest round.[12]

Investments

Its investments include 7 Cups, Airware, Algolia, Athelas,[13] Blend, Boosted, Codecademy, Coinbase, Color Genomics, Cruise, Flexport, Genius, Instacart,[14] Landed,[15] LeadGenius, LendUp, Maker's Row, The Mom Project,[16] Papa,[17] ParkWhiz, Patreon, Plangrid, Plate IQ, Polychain Capital,[18] Rescale, Rippling, Ro, Shoptiques, Soylent, Standard Cognition,[19] Streak, Survata, True Link Financial, Truepill,[20] Vicarious, Zenefits and Zentail.[14]

Recognition

In 2019, Garry Tan was listed at #21 on the Forbes Midas List.[21]

See also

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. WSJ. Retrieved August 15, 2019.
  3. "Initialized Capital - Investments". CrunchBase. Retrieved March 13, 2016.
  4. https://www.cnn.com/2018/10/02/tech/alexis-ohanian-initialized-capital-new-fund/index.html
  5. https://www.bloomberg.com/news/articles/2020-08-14/vc-firm-initialized-raises-230-million-for-early-stage-deals
  6. "INITIALIZED CAPITAL SPECIAL OPPORTUNITIES FUND I, L.P. Details - Whalewisdom". Whalewisdom.com. Retrieved March 13, 2016.
  7. "Initialized Capital Closes Second Seed Fund at $39.2M". Pevc.dowjones.com. Retrieved March 13, 2016.
  8. Konrad, Alex (July 9, 2018). "At Initialized Capital, Odd Couple Alexis Ohanian And Garry Tan Look To Do VC Differently". Forbes. Forbes. Retrieved August 15, 2019.
  9. Yeung, Ken (October 24, 2016). "Initialized Capital raises $115 million for its third fund". Venture Beat. Venture Beat. Retrieved August 15, 2019.
  10. Geron, Tomio (2018-10-02). "Initialized Capital Raises $225 Million for Fourth Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-04.
  11. "VC Firm Initialized Raises $230 Million for Early-Stage Deals". bloomberg.com. 14 August 2020.
  12. "VC Firm Initialized Raises $230 Million for Early-Stage Deals". bloomberg.com. 14 August 2020.
  13. https://www.crunchbase.com/organization/athelas#section-investors
  14. "Initialized Capital". Initialized Capital. Retrieved 2019-01-30.
  15. https://techcrunch.com/2019/04/05/landed-raises-7-5-million-series-a-to-help-teachers-buy-homes/
  16. https://techcrunch.com/2018/12/17/the-mom-project-a-job-site-for-moms-returning-to-work-nabs-8m-from-initialized-and-more/
  17. https://www.theringer.com/tech/2018/12/20/18149187/alexis-ohanian-reddit-industrialized-year-in-review
  18. https://www.forbes.com/sites/alexkonrad/2018/07/09/at-initialized-capital-odd-couple-alexis-ohanian-and-garry-tan-look-to-do-vc-differently/#25c83fd43efe
  19. https://techcrunch.com/2018/11/15/standard-cognition/
  20. https://techcrunch.com/2019/03/12/truepill-the-aws-for-pharmacies-gets-10m-from-initialized-capital/
  21. "Newcomers To The 2019 Midas List: Who Cracked The Ranks Of Best VCs In The World". Forbes. Forbes. April 2, 2019. Retrieved August 14, 2019.
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