
Subversive Capital
217 Centre Street, Suite 122, New York, NY, 10013, United States
Overview
Subversive Capital is dedicated to investing in radical companies whose core missions subvert the status quo and require sophisticated government and regulatory strategies for success.
- Total investments
- 12
- Lead investments
- 2
- Investments · 12mo
- 0
- Active investors
- 1
Sector focus
- Venture Capital
Investment portfolio
- Betty
Participated · Seed · Feb 2023
Betty operates an online casino tailored to female players, focusing on transparency, community-driven play, and gamification of traditional slot experiences. The company has built an in-house proprietary platform called Midnight 1 and plans to upgrade it to Midnight 2. Betty launched in February 2023 and is licensed by the Alcohol and Gaming Commission of Ontario, where it has gained significant traction. It reports an eight-figure net revenue run rate and has grown 30% month-over-month since launch. Female players retain at a rate three times higher than male counterparts, a KPI the company highlights as a competitive advantage. The latest capital will be deployed to expand user acquisition, improve live operations capabilities, and support the platform upgrade. Betty builds a proprietary real-money online casino (iCasino) and casual mobile gaming platform aimed at maximizing entertainment for casual players through a safe, social, and inclusive environment. Its core product is an iCasino platform tailored to casual slot players, especially women. The company is led by CEO Betty and plans to use newly raised capital to launch and expand operations in Ontario and continue platform development. Betty was issued a gaming license by the Alcohol and Gaming Commission of Ontario on January 24 and anticipates a soft launch in February followed by a full go-to-market in Q2. The company previously raised $1.8M in a March 2022 pre-seed round and maintains an R&D office in Bulgaria. The new funding is intended to support expansion in Ontario and further R&D on its proprietary iCasino offering.
- Synchron
Participated · Series B · Jun 2021
Synchron is a New York City–based neurotechnology company building the Stentrode platform, an endovascular brain-computer interface (BCI) that is delivered via catheter rather than open-brain surgery. Once implanted, the device interfaces with the motor cortex through the blood vessels and wirelessly transmits neural signals that can be translated into hands-free digital commands. Ten patients with paralysis have received the Stentrode across U.S. and Australian clinical trials, demonstrating early clinical adoption. Led by founder and CEO Tom Oxley, the company plans to use newly raised capital to scale operations and advance product development. Synchron’s ultimate goal is to commercialize a clinically viable, minimally invasive BCI for widespread medical use. Including the latest round, the company has secured $345 million in total funding to date, underlining strong investor confidence in its technology and market potential.
- ATAI Life Sciences
Participated · Series D · Mar 2021
Atai Life Sciences is a mental health-focused biotech developing therapies in the psychiatric/mental health space. The company has a sizable portfolio and recently reassessed its programs. As part of that reassessment it has pruned its pipeline and exited partnerships. Atai has taken on a $175M loan as it reorganizes. Management says it is concentrating resources on looming data readouts from remaining programs. The company frames these moves as planning for the long haul. atai Life Sciences is a clinical-stage biopharmaceutical company developing psychedelic and non-psychedelic compounds to treat depression, anxiety, addiction, and other mental health disorders. The company acquires, incubates and develops therapeutics using funding, technology, and scientific and regulatory expertise, with a focus on psychedelic therapy and drugs with differentiated safety profiles. atai is led by Christian Angermayer and Florian Brand (CEO & co-founder) and operates from Berlin with offices in New York. The company plans to use its new capital to expand and develop its diverse drug candidate pipeline and enabling technologies. It also intends to continue advancing current clinical developments and to scale its team to deliver key milestones. Financially, atai closed a $157M Series D financing to support these efforts. ATAI Life Sciences is a global biotechnology company developing psychedelic and non-psychedelic compounds to treat depression, anxiety, addiction, and other mental health disorders. Its model acquires and incubates programs across multiple entities, combining funding, platform technologies, and scientific and regulatory expertise to accelerate therapeutic development. ATAI focuses on advancing both drug candidates and platform tools with the aim of treating and ultimately preventing mental health disorders. Proceeds from the recent financing will primarily fund pre-clinical and clinical development, expand ATAI's pipeline, and further advance its platform technologies. Management expects the funding to provide runway for several near-term milestones, including Phase 2 data readouts for arketamine in treatment-resistant depression and ibogaine in opioid use disorder, plus completion of Phase 1 and initiation of Phase 2 trials in four other programs. ATAI was founded in 2018 and is headquartered in Berlin, with offices in New York and San Diego. ATAI Life Sciences is a global biotech platform that uses a decentralized, big-data approach to accelerate early-stage drug development for mental health disorders. Founded in 2018 by Christian Angermayer, Lars Wilde and Florian Brand, the company focuses on paradigm-shifting and formerly stigmatized compounds with prior evidence of efficacy and safety in humans. Its portfolio includes Innoplexus, which delivers big data and AI solutions that ATAI uses for in-house discovery, and ATAI is the largest investor in COMPASS Pathways, which is developing psilocybin therapy for treatment-resistant depression. In January ATAI acquired Perception Neuroscience and is developing an arketamine therapy for neuropsychiatric diseases. The company cites an initial focus on addressing depression — affecting more than 300 million people, with roughly 100 million treatment-resistant cases — and plans to use its platform to expand the pipeline and acquire additional compounds. ATAI is based in Berlin, London and New York and recently closed a $43 million Series B to fund platform technology, pipeline development, and acquisitions.
- LEX
Participated · Equity · Jan 2021
LEX operates a securities marketplace that takes individual commercial buildings public via single-asset IPOs, allowing both accredited and non-accredited investors to buy and sell minority positions in properties. Investments are offered as publicly traded partnership interests so tax benefits of direct real estate ownership can pass through to investors. The platform is powered by Nasdaq’s Universal Matching System (UMS) and supports trading starting at $250 with no lockups. LEX positions its product as an alternative to commingled public REITs by enabling direct investment in single assets and helping property owners unlock equity while retaining operational control. The company highlights a strategic partnership with Nasdaq and an expanding senior advisory and board team to advance its marketplace. Most recently LEX closed new financing as it continues to scale its marketplace and broaden investor access to commercial real estate. LEX operates a marketplace that lets everyday retail investors purchase and trade shares of individual commercial real estate properties, enabling customizable income-producing portfolios. The platform issues shares under Regulation A so non-accredited investors can participate, and those shares will be publicly tradable partnership interests that pass through tax benefits. LEX will price offered securities initially at $100 to simplify portfolio construction and will provide tools for users to research and compare properties. Property owners can sell ownership interests while retaining operational control, unlocking equity without full property sales. The company was founded by Drew Sterrett (CEO), Dean Sterrett (Head of Product), and Jesse Daugherty (a former Google engineer). LEX recently closed seed financing to advance its marketplace and expand access to the asset class.
- EmPath
Led · Equity · Sep 2020
EmPath builds a skills-inference and upskilling platform that analyzes employees' work activity to identify current skills and gaps, then recommends courses and career-path road maps. The product uses machine-learning techniques to infer skills from corporate digital footprints, a capability led by CTO Adam Blum. EmPath is deployed enterprise-wide at AT&T and plans to add three Fortune 1,000 customers by the end of the month. The company is led by founder Felix Ortiz III and counts former Commerce Secretary Carlos Gutierrez as a co-founder and prominent supporter. EmPath aims to help companies accelerate talent development and reskilling, especially as corporate training budgets tighten. Financially, the startup has secured early-stage capital to support growth, having raised seed financing earlier this year.
Team
Michael Auerbach
General Partner & Founder
LinkedIn