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The Venture Codex

Smash Capital

1800 Vine Street, Los Angeles, CA, 90028, United States

Overview

Smash Capital is a Emerging growth and later stage consumer internet and software VC firm.

Total investments
22
Lead investments
7
Investments · 12mo
8
Active investors
6
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Investment portfolio

  • Higgsfield

    Participated · Series B · Aug 2026

    Higgsfield builds an AI-driven platform for generating and iterating short-form video, emphasizing workflows that let users repeatedly rework clips rather than producing one finished asset. The company publicly launched in 2025 and has grown to more than 15 million users across 240 countries. Its business has shifted toward enterprise marketing customers, which now comprise the majority of revenue after moving from under a quarter earlier in 2025. Higgsfield reported annualised revenue of $500 million, up from roughly $200 million at the end of 2025. The team was founded in 2023 by Alex Mashrabov—who previously sold AI Factory to Snap and led generative AI there—alongside CTO Yerzat Dulat and co-founder Mahi de Silva. Management says future investment will prioritize enterprise product development, security, and scaling compute capacity to meet video-generation demand.

  • CodeRabbit

    Led · Series C · Aug 2026

    CodeRabbit offers an automated platform that uses AI agents to review freshly generated code in real time, catching syntax errors, logic bugs and security vulnerabilities as code is created. The company has expanded its offering with Agentic Change Management, which includes CodeRabbit Triage for scoring and routing pull requests, Change Stack for visualizing a change's impact on system behavior and dependencies, and CodeRabbit Security for full-repository scanning and continuous monitoring after code ships. Its tools validate incoming pull requests using repository-wide context and sandboxed test environments, and can generate recommended fixes that re-enter the pull request workflow. CodeRabbit has positioned the product to help teams prioritize and govern a rising volume of code changes originating from developers, nontechnical staff and automated agents. The company announced a $143 million Series C to accelerate these product capabilities and scale adoption. Prior investors such as CRV, Scale Venture Partners, Flex Capital and Pelion Venture Partners participated in the latest round.

  • Redo

    Led · Series B · Jun 2026

    Redo provides returns and other shopper-facing solutions for e-commerce brands and has expanded rapidly over the last 24 months, growing from about 100 brands to more than 4,000. The company reports that more than 70% of its brand customers now use multiple Redo solutions rather than only its returns product. Monthly metrics have consistently set new records according to the company's announcement. Redo framed its recent $81M raise at a $1.25B valuation as a validation of brand trust and ongoing demand for its services. In lieu of a big fundraising launch, the company said it will channel announcement funds back to brands and shoppers, including a program to give $100 to one person per Redo brand. The company stressed that substantial work remains and that it will continue investing in its product and customer relationships.

  • Digital Asset

    Participated · Series F · Jun 2026

    Digital Asset builds and operates the Canton Network, a public, permissionless Layer 1 blockchain that provides protocol-level privacy and confidentiality guarantees and runs applications written in its open-source smart contract language, Daml. Canton is designed to enable tokenized asset workflows across multiple parties while keeping transaction data confidential, and it has attracted marquee institutional participants including Visa, Goldman Sachs, and DTCC. The network has processed or issued more than $6 trillion in tokenized assets according to prior reporting, and Visa became a Canton Super Validator and added Canton to a stablecoin settlement pilot. The Canton ecosystem has also seen activity such as a $540 million raise by Canton Strategic Holdings (formerly Tharimmune) to build a Canton Coin treasury and a project called Zenith completing atomic swaps between Canton and an EVM-compatible environment. On the financing front, Digital Asset raised $135 million in June 2025 and $50 million in December 2025, and is now pursuing a roughly $300 million round led by a16z crypto. The company is backed by trading firms and banks including DRW Holdings and Citadel Securities.

  • Allen Control Systems

    Led · Series B · Jun 2026

    Allen Control Systems develops autonomous precision weapon systems that combine AI, computer vision, and precision robotics to modernize legacy and modern weapon platforms, with its flagship product Bullfrog designed to counter unmanned threats. Bullfrog is an AI-powered robotic weapon station that the company says executes the full kill chain up to Group 3 UAS and demonstrated a 100% success rate at T-REX 26-1. ACS has secured contracts through Joint Interagency Task Force 401 and reports deployments with the U.S. Army and U.S. Navy. The company is expanding advanced manufacturing in Austin, Texas and has offices in Alexandria, Virginia and an innovation lab in Huntsville, Alabama. Financially, ACS recently raised $200 million in a Series B at a $2.2 billion post-money valuation to scale production and accelerate deployments while advancing new product development.

Team