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Theory Ventures

3130 Alpine Rd, Ste 288 #411, Portola Valley, CA, 94028, United States

Overview

Early-stage investment firm for software companies leveraging technology.

Founded

2022

Deals ยท 12mo

10

Links

WebsiteLinkedInX (Twitter)

Stage focus

Series A
Series B

Geographic focus

United Kingdom
United States

Sector focus

Business Development
Finance
Financial Services
Software

Investment portfolio

22rounds
NAMEDATESIZE
BackOps AI
Sep 2026Participated
$42 MSeries B
Ollama
Jul 2026Led
$65 MSeries B
Delphi Digital
Jun 2026Led
$40 MSeries B
Sail Research
Jun 2026Participated
$80 MSeries A
Allium
Jun 2026Participated
$40 MSeries B
Omni
Apr 2026Participated
$120 MSeries C
Artemis Security
Apr 2026Participated
$55 MSeries A
Doss
Mar 2026Participated
$55 MSeries B
BackOps AI
Mar 2026Led
$26 MSeries A
Koah
Feb 2026Led
$21 MSeries A
Dropzone AI
Jul 2025Led
$37 MSeries B
Maze
Jun 2025Led
$25 MSeries A
BackOps AI
Sep 2026Participated
$42 MSeries B
Ollama
Jul 2026Led
$65 MSeries B
Delphi Digital
Jun 2026Led
$40 MSeries B
Sail Research
Jun 2026Participated
$80 MSeries A
Allium
Jun 2026Participated
$40 MSeries B
Omni
Apr 2026Participated
$120 MSeries C
Artemis Security
Apr 2026Participated
$55 MSeries A
Doss
Mar 2026Participated
$55 MSeries B
BackOps AI
Mar 2026Led
$26 MSeries A
Koah
Feb 2026Led
$21 MSeries A
Dropzone AI
Jul 2025Led
$37 MSeries B
Maze
Jun 2025Led
$25 MSeries A
22
Items
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Theory Ventures: 22 funding rounds are recorded in the selected participation categories.All available history.
Theory Ventures: 22 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed11
Series A74
Series B34
Series C+01
Other Equity10

Monthly Deal Activity

Theory Ventures: 22 deals are recorded across 97 months.All available history.
Theory Ventures: 22 deals are recorded across 97 months. All available history
MonthDeals
Oct '181
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '231
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '242
Apr '241
May '240
Jun '241
Jul '241
Aug '240
Sep '241
Oct '240
Nov '240
Dec '241
Jan '250
Feb '250
Mar '251
Apr '250
May '250
Jun '251
Jul '251
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '262
Apr '262
May '260
Jun '263
Jul '261
Aug '260
Sep '261
Oct '260

Sector Breakdown

Theory Ventures: AI & Machine Learning is the largest displayed sector by deal count (16 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.

Theory Ventures: AI & Machine Learning is the largest displayed sector by deal count (16 deals). All available history
SectorDeals
AI & Machine Learning16
Enterprise Software13
Data, Analytics & IT8
Networks, Cloud & Communication7
Cybersecurity & Privacy5
Crypto & Blockchain4
Transportation & Logistics3
Developer Tools3
Marketing & Advertising2
Professional Services2
Fintech1
E-Commerce & Retail1

Deal Size Distribution

Theory Ventures: 22 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.

Theory Ventures: 22 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M1
$10M-$25M8
$25M-$50M6
$50M-$100M5
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Theory Ventures: United States has the largest recorded deal count among the displayed regions (19 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Theory Ventures: United States has the largest recorded deal count among the displayed regions (19 deals). All available history
RegionDeals
United States19
Europe2
Singapore1
Theory Ventures: 20 co-investors are shown, with First Round 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.

Theory Ventures: 20 co-investors are shown, with First Round sharing 4 recorded deals. All available history
Co-investorShared deals
First Round4
Kleiner Perkins4
20Sales3
Amplify Partners3
Google Ventures3
Redpoint Ventures3
Construct Capital2
Decibel2
Gradient Ventures2
ICONIQ Growth2
In-Q-Tel2
Madrona Venture Group2
PSL Ventures2
Ten VC2
49Palms1
8VC1
Base 10 Ventures1
Benchmark Capital1
Brightmind Partners1
Cherry Ventures1

Investment Strategy

Theory Ventures: Led accounts for 55% and participating for 45% of round participation.All available history.
Theory Ventures: Led accounts for 55% and participating for 45% of round participation. All available history
CategoryDeals (count)Share (%)
Led1255%
Participating1045%
Theory Ventures: Single-lead accounts for 83% and co-led for 17% of lead dynamics.All available history.
Theory Ventures: Single-lead accounts for 83% and co-led for 17% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1083%
Co-led217%

Team

Andy Triedman

Partner

Tomasz Tunguz

General Partner