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Stepchange Ventures

2811 E Valley St, Seattle, WA, 98112-4141, United States

Overview

Early-stage venture fund investing in product-driven businesses.

Founded

2023

Deals · 12mo

6

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

The Netherlands
United States

Sector focus

—

Investment portfolio

10rounds
NAMEDATESIZE
Ezra
Mar 2026Participated
$8 MSeed
Ezra
Mar 2026Participated
$8 MSeed
AZX
Jan 2026Participated
$6 MSeed
Coolgradient
Jan 2026Participated
$3 MSeed
Lemurian Labs
Dec 2025Participated
$28 MSeries A
Hammerhead AI
Nov 2025Participated
$10 MSeed
Nevoya
Jul 2025Participated
$9 MSeed
Rhizome
May 2025Participated
$7 MSeed
CapeZero
Jan 2025Participated
$3 MSeed
Bayou Energy
Apr 2024Participated
$1 MSeed
Ezra
Mar 2026Participated
$8 MSeed
Ezra
Mar 2026Participated
$8 MSeed
AZX
Jan 2026Participated
$6 MSeed
Coolgradient
Jan 2026Participated
$3 MSeed
Lemurian Labs
Dec 2025Participated
$28 MSeries A
Hammerhead AI
Nov 2025Participated
$10 MSeed
Nevoya
Jul 2025Participated
$9 MSeed
Rhizome
May 2025Participated
$7 MSeed
CapeZero
Jan 2025Participated
$3 MSeed
Bayou Energy
Apr 2024Participated
$1 MSeed
10
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Stepchange Ventures: 10 funding rounds are recorded in the selected participation categories.All available history.
Stepchange Ventures: 10 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed09
Series A01

Monthly Deal Activity

Stepchange Ventures: 10 deals are recorded across 31 months.All available history.
Stepchange Ventures: 10 deals are recorded across 31 months. All available history
MonthDeals
Apr '241
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '251
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '251
Dec '251
Jan '262
Feb '260
Mar '262
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Stepchange Ventures: AI & Machine Learning is the largest displayed sector by deal count (5 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.

Stepchange Ventures: AI & Machine Learning is the largest displayed sector by deal count (5 deals). All available history
SectorDeals
AI & Machine Learning5
Clean Energy & Sustainability4
Networks, Cloud & Communication3
Enterprise Software3
Fintech3
Data, Analytics & IT2
Manufacturing1
Professional Services1
Transportation & Logistics1

Deal Size Distribution

Stepchange Ventures: 10 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.

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

Deals By Geography

Stepchange Ventures: United States has the largest recorded deal count among the displayed regions (9 deals).All available history.

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

Stepchange Ventures: United States has the largest recorded deal count among the displayed regions (9 deals). All available history
RegionDeals
United States9
Europe1
Stepchange Ventures: 20 co-investors are shown, with Leap Forward Ventures sharing 3 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.

Stepchange Ventures: 20 co-investors are shown, with Leap Forward Ventures sharing 3 recorded deals. All available history
Co-investorShared deals
Leap Forward Ventures3
Avesta Fund2
Congruent Ventures2
KDX2
MCJ Collective2
Planeteer Capital2
Powerhouse Ventures2
1Flourish Capital1
4impact capital1
Acclimate Ventures1
AI2 Incubator1
Aina Climate AI Ventures1
Animal Capital1
Ascend1
Base10 Partners1
Blackhorn Ventures1
Bombellii Ventures1
Buoyant Ventures1
CLAI Ventures1
Clearvision Ventures1

Investment Strategy

Stepchange Ventures: Led accounts for 0% and participating for 100% of round participation.All available history.
Stepchange Ventures: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating10100%
Stepchange Ventures: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Stepchange Ventures: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Anay Shah

Co-Founder & Partner

Ben Eidelson

Co-Founder & General Partner