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The Venture Codex

Human Capital

340 Pine St Ste 200, San Francisco, CA, 94104, United States

Overview

Human Capital is a venture firm for builders. We believe ambitious builders turn great ideas into great companies. We invest in founders, teams, and startups that share this mindset. In the last 6 years, that mantra has led us to invest in 15 companies before they became unicorns, including Snowflake, Anduril, Livongo, and Brex (where we wrote the first check). We have over $1.3B in total capital committed and we've built a community of over 5,000 incredible, driven, ambitious builders.

Total investments
76
Lead investments
23
Investments · 12mo
15
Active investors
4

Sector focus

  • Financial Services
  • Impact Investing
  • Venture Capital
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Investment portfolio

  • Natural

    Participated · Series A · Jul 2026

    Natural builds payment infrastructure that lets autonomous AI agents execute financial actions such as paying vendors, collecting payments, and transacting with other agents or humans. The startup redesigns financial rails to support agent-initiated transactions that traditional systems (credit cards, ACH) were not built for. Founded in 2025 by Kahlil Lalji with co-founders including Eric Wang and Walt Leung, Natural has operated in beta while making core architectural decisions. The company plans to support both traditional bank payments and USD-backed stablecoins as part of its architecture. Natural has attracted senior talent from fintech firms like Stripe, Ramp, and Square to accelerate product development. With $40 million in total funding after the Series A, the company is positioning itself to compete with incumbents such as Stripe and emerging rivals in the agentic payments space.

  • NewLimit

    Participated · Series C · Jun 2026

    NewLimit develops age-reprogramming medicines by using an AI-driven genomics platform to discover transcription factor combinations that reverse cellular aging and restore metabolic, vascular, and immune health. The company has discovered a prototype medicine that reverses cellular age in old human liver cells and has accelerated that program toward clinical development. NewLimit plans to transition its lead liver-cell program into investigator-led human trials targeted for late 2027 and to expand its computational biology teams to support pipeline growth. Financially, the company raised $435 million in a Series C led by Founders Fund with broad participation from venture firms and strategic investors. NewLimit was co-founded by Brian Armstrong and Blake Byers and is led by CEO and President Jacob Kimmel.

  • Neuralink

    Participated · Series E · May 2026

    Neuralink develops implantable brain-computer interface devices that decode neural signals to enable control of phones, computers and other systems. The company is conducting first human trials across three countries and reports that five patients with severe paralysis are using its device to control digital and physical systems by thought alone. Regulators have granted its speech restoration system a Breakthrough Device designation from the FDA, and the company previously received a similar designation for a vision-restoring implant. Financially, Neuralink announced a $650 million capital raise with participation from multiple top-tier investors, and reports earlier financing of $600 million at a reported $9 billion valuation. The company says the funds will be used to expand clinical testing and bring its technology to more people with unmet medical needs.

  • Luel

    Participated · Seed · May 2026

    Luel operates a global contributor network spanning nearly 100 countries that is paid to record slices of everyday life, with submissions verified and rights-cleared before delivery. The company reports more than one million submissions processed through quality assurance and runs over 40 active data-collection campaigns. Its customer base includes frontier AI labs, robotics companies, hospitals, and banks. Luel positions itself to serve large markets for multimodal, robotics, speech, and computer-use training data. The company recently closed a $31.2M seed round led by General Catalyst and Lightspeed, which the article characterizes as one of the largest in YC history. The article did not provide revenue figures, a valuation, or a detailed breakdown of planned use of proceeds.

  • Monaco

    Participated · Series B · May 2026

    Monaco has built a sales technology suite that integrates an AI-native customer relationship management system with a proprietary ZoomInfo-style prospect database. Its AI agents generate target lists, orchestrate multi-step email sequences, draft follow-ups, capture meeting notes, and schedule calls, while experienced human salespeople remain in the loop to verify outputs and run customer meetings. By pairing software with a managed service layer, Monaco aims to give seed and Series A startups access to enterprise-grade sales talent without having to hire full teams. The company opened its product to a public beta after a period of private testing and currently charges a flat, discounted fee during this phase. Although the market is crowded with incumbents like Salesforce and HubSpot and dozens of newer AI SDR tools, Monaco believes a platform shift will create room for a new category leader. The 40-person company is led by co-founders Sam and Brian Blond, along with former executives from Apollo, Qualtrics, and Clari. To date, Monaco has raised $35 million across seed and Series A financings led by Founders Fund, giving it ample capital to refine its product and scale go-to-market efforts.

Team

  • Armaan Ali

    Co-Founder, CEO and Managing Partner

    LinkedIn
  • Baris Akis

    Co-Founder, President and Managing Partner

    LinkedIn
  • Adelia Curtis Duarte

    Talent Advisor & Head of Portfolio Operations

    LinkedIn
  • Brian Blond

    Investment Partner

    LinkedIn