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The Venture Codex

Base Case Capital

488 Folsom St, #3504, San Francisco, CA, 94105, United States

Overview

Early-stage venture capital firm for builders.

Founded

2020

Deals · 12mo

5

Links

WebsiteLinkedIn

Stage focus

Seed
Series B

Geographic focus

United States

Sector focus

—

Investment portfolio

20rounds
NAMEDATESIZE
Paper
Jul 2026Participated
$34 MSeries A
Devotion
Mar 2026Led
$4 MSeed
14.ai
Mar 2026Participated
$3 MSeed
Braintrust
Feb 2026Participated
$80 MSeries B
Quanta
Dec 2025Participated
$15 MSeries A
Quanta
Feb 2025Participated
$5 MSeed
Paper
Feb 2025Participated
$4 MSeed
Orb
Sep 2024Participated
$25 MSeries B
Browserbase
Jun 2024Participated
$7 MSeed
Baseten
Mar 2024Participated
$40 MSeries B
Venue
Jan 2024Participated
$1 MOther Equity
Default
Nov 2023Participated
$7 MSeed
Paper
Jul 2026Participated
$34 MSeries A
Devotion
Mar 2026Led
$4 MSeed
14.ai
Mar 2026Participated
$3 MSeed
Braintrust
Feb 2026Participated
$80 MSeries B
Quanta
Dec 2025Participated
$15 MSeries A
Quanta
Feb 2025Participated
$5 MSeed
Paper
Feb 2025Participated
$4 MSeed
Orb
Sep 2024Participated
$25 MSeries B
Browserbase
Jun 2024Participated
$7 MSeed
Baseten
Mar 2024Participated
$40 MSeries B
Venue
Jan 2024Participated
$1 MOther Equity
Default
Nov 2023Participated
$7 MSeed
20
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Deal Distribution

Base Case Capital: 20 funding rounds are recorded in the selected participation categories.All available history.
Base Case Capital: 20 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed110
Series A03
Series B04
Other Equity02

Monthly Deal Activity

Base Case Capital: 20 deals are recorded across 66 months.All available history.
Base Case Capital: 20 deals are recorded across 66 months. All available history
MonthDeals
May '211
Jun '210
Jul '210
Aug '210
Sep '211
Oct '210
Nov '211
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '231
Mar '231
Apr '231
May '231
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '231
Dec '230
Jan '241
Feb '240
Mar '241
Apr '240
May '240
Jun '241
Jul '240
Aug '240
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '252
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '260
Feb '261
Mar '262
Apr '260
May '260
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

Base Case Capital: Enterprise Software is the largest displayed sector by deal count (9 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Base Case Capital: Enterprise Software is the largest displayed sector by deal count (9 deals). All available history
SectorDeals
Enterprise Software9
Developer Tools5
Networks, Cloud & Communication5
AI & Machine Learning4
Professional Services4
Data, Analytics & IT4
Marketing & Advertising3
Consumer & Lifestyle2
Fintech2
Media & Entertainment2

Deal Size Distribution

Base Case Capital: 20 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Base Case Capital: 20 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M8
$5M-$10M5
$10M-$25M3
$25M-$50M3
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Base Case Capital: United States has the largest recorded deal count among the displayed regions (18 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Base Case Capital: United States has the largest recorded deal count among the displayed regions (18 deals). All available history
RegionDeals
United States18
Europe2
Base Case Capital: 20 co-investors are shown, with Accel sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Base Case Capital: 20 co-investors are shown, with Accel sharing 4 recorded deals. All available history
Co-investorShared deals
Accel4
BoxGroup3
Greylock Partners3
South Park Commons3
SV Angel3
Designer Fund2
eFounders2
ICONIQ Growth2
Menlo Ventures2
Operator Collective2
Scribble Ventures2
Y Combinator2
2.12 Angels1
20VC1
8VC1
A*1
Aglae Ventures1
AI Grant1
Andreessen Horowitz1
Apollo Projects1

Investment Strategy

Base Case Capital: Led accounts for 5% and participating for 95% of round participation.All available history.
Base Case Capital: Led accounts for 5% and participating for 95% of round participation. All available history
CategoryDeals (count)Share (%)
Led15%
Participating1995%
Base Case Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Base Case Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led1100%

Team

Alana Goyal

Founder & Managing Partner