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Theory Ventures

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

Overview

Theory Ventures primarily invests in early-stage software companies. It invests $1-25m in companies that leverage technology discontinuities into go-to-market advantages.

Total investments
21
Lead investments
12
Investments · 12mo
9
Active investors
2

Sector focus

  • Business Development
  • Finance
  • Financial Services
  • Software
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Investment portfolio

  • Ollama

    Led · Series B · Jul 2026

    Ollama launched in 2023 to make open-weight AI models easy for developers to run locally, aiming to simplify model discovery and execution on personal machines. It provides a desktop product for running models locally and a hosted neocloud with subscription tiers (from free up to $100/month) for larger models, tracking usage by GPU time rather than token limits. The project has strong developer traction with roughly 176,000 GitHub stars, nearly 17,000 forks, and about 8.9 million monthly users while reportedly sitting in 85% of the Fortune 500. Founders Jeff Morgan and Michael Chiang previously helped build Docker Desktop, and the company operates with about 14 employees. Ollama has framed its cloud business as an extension of its open-source mission to help developers find and use models, noting increased commercial demand as larger open models became capable of practical tasks.

  • Delphi Digital

    Led · Series B · Jun 2026

    Delphi Digital positions itself as a key player in the cryptocurrency ecosystem delivering research and solutions focused on blockchain and digital assets. The company said it will use the new Series B proceeds to accelerate product development, scale infrastructure, and grow engineering and research teams. Reporting references a prior financing of $2.7 million that Delphi raised earlier to scale its digital offerings. Delphi's leadership framed the round as a sign of increasing investor confidence in crypto infrastructure and research capabilities. The company intends to expand its reach and capabilities in step with evolving blockchain and digital-asset markets. Articles do not provide revenue, user, or valuation metrics.

  • Sail Research

    Participated · Series A · Jun 2026

    Sail Research provides an infrastructure platform purpose-built for long-horizon AI agents, composed of a throughput- and efficiency-optimized inference stack and Sailboxes, a stateful sandbox environment that runs for hours or days. The company emphasizes deep customization of open-source inference engines, intelligent workload distribution across providers, and use of underutilized compute to drive efficiency gains. Sail cites a recent benchmark (BrowseComp-Plus) in which its inference achieved 90.72% accuracy at up to ten times lower cost than leading alternatives. Its API is compatible with OpenAI-based workflows and supports open-source models such as DeepSeek, Gemma, GLM, Kimi, and Nemotron. Customers named in the announcement include Parallel Web Systems, Jack and Jill, and Detail.dev, with Detail.dev reporting trillions of tokens processed on Sail. The founding team includes Neil Movva (CEO) and Samir Menon (CTO), both with prior experience at NVIDIA and Apple, and the company is backed by prominent venture firms including Kleiner Perkins and Sequoia.

  • Allium

    Participated · Series B · Jun 2026

    Allium provides institutional-grade blockchain data and analytics, offering products such as Terminal plus dashboards, APIs, and data warehouse integrations to power trading, compliance, and product workflows. Its platform standardizes and enriches data across more than 150 chains and is cited by government agencies and research institutions including the Federal Reserve and Stanford. Customers and partners include Visa, Stripe, Uniswap Foundation, Phantom, and BCG, with Visa building an Onchain Analytics Dashboard in collaboration with Allium. Since its Series A, Allium says it has grown revenue more than 10x and expanded to over 150 enterprise customers across financial institutions, fintechs, and government agencies. The company is actively hiring across engineering, product, and go-to-market teams as it scales its infrastructure for onchain finance and recently raised $40 million in Series B funding.

  • Omni

    Participated · Series C · Apr 2026

    Omni builds a governed context graph — a semantic model that stores metric definitions, business logic, permissions, and Git version control — which powers dashboards, workbooks, spreadsheets, ad-hoc SQL, and AI queries. The platform integrates with major data warehouses and engines including Snowflake, Google BigQuery, Databricks, Amazon Redshift, Postgres, and ClickHouse. Omni enables governed answers by ensuring AI-generated queries inherit the same business logic and access controls as native queries, and it extends those capabilities to external agents like Claude, ChatGPT, Cursor, and VS Code. Customers named in the announcement include BambooHR, Checkr, Cribl, dbt Labs, Guitar Center, Heidi AI, Mercury, Pendo, and Synthesia; BambooHR’s Elite Analytics launched to 30,000+ people in four months and now serves 100,000+ users. Financially, Omni reported revenue tripled year-to-date after growing 4x the prior year, signaling strong enterprise adoption. The company presents its platform as the semantic foundation for both native and external AI agents and is operating from SAN FRANCISCO.

Team