Theory Ventures Fund II

Theory Ventures

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Status

ACTIVE

Global HQ

San Francisco, United States

Countries of investment

United States

Investment stages

Seed
Series A

Industries

Artificial intelligence
Data infrastructure
Developer tools
Enterprise software
SaaS

About
Theory Ventures is a San Francisco-based venture capital firm focused on AI and data-driven software. Their focus spans AI infrastructure, data systems, developer tools and enterprise SaaS across the United States. The firm supports founders from seed through Series A stages.

Min check size: $1M
Max check size: $25M
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Investment Thesis

Theory Ventures is a seed and Series A stage firm investing in software companies transformed by AI and data, running a concentrated, research-led portfolio. The firm differentiates itself through Tomasz Tunguz's widely read data-driven research and his long SaaS investing record at Redpoint.

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Manager's Experience

Founded in 2023 by Tomasz Tunguz after roughly 14 years at Redpoint Ventures, where he invested in companies such as Looker and Monte Carlo. Launched with a debut fund of around $230M and runs a concentrated, research-led AI-first strategy. Tunguz is one of the most widely read venture bloggers on SaaS and AI.