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The Venture Codex

Trace Capital

1400 Post Oak Blvd., Suite 1000, Houston, TX, 77056, United States

Overview

Private equity firm focused on global energy investments.

Deals ยท 12mo

1

Links

WebsiteLinkedIn

Stage focus

Series E

Geographic focus

Canada

Sector focus

Financial Exchanges
Financial Services
Funding Platform

Investment portfolio

1rounds
NAMEDATESIZE
Tenstorrent
Oct 2026Led
$1.5 BSeries E
Tenstorrent
Oct 2026Led
$1.5 BSeries E
1
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Trace Capital: 1 funding rounds are recorded in the selected participation categories.All available history.
Trace Capital: 1 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series C+10

Monthly Deal Activity

Trace Capital: 1 deals are recorded across 1 months.All available history.
Trace Capital: 1 deals are recorded across 1 months. All available history
MonthDeals
Oct '261

Sector Breakdown

Trace Capital: Hardware & Robotics is the largest displayed sector by deal count (1 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.

Trace Capital: Hardware & Robotics is the largest displayed sector by deal count (1 deals). All available history
SectorDeals
Hardware & Robotics1
AI & Machine Learning1
Space & Frontier Tech1

Deal Size Distribution

Trace Capital: 1 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.

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

Deals By Geography

Trace Capital: Canada has the largest recorded deal count among the displayed regions (1 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

Trace Capital: Canada has the largest recorded deal count among the displayed regions (1 deals). All available history
RegionDeals
Canada1
Trace Capital: 15 co-investors are shown, with Agostinelli Group sharing 1 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.

Trace Capital: 15 co-investors are shown, with Agostinelli Group sharing 1 recorded deals. All available history
Co-investorShared deals
Agostinelli Group1
ARK Invest1
Cadence Ventures1
Eclipse Ventures1
Fidelity Management & Research Company1
Innovation X Advisors1
Maverick Silicon1
Morgan Stanley1
Protagonist1
SanDisk1
T. Rowe Price Associates1
Tether1
Troluce Capital1
Virtu Financial1
XTX Ventures1

Investment Strategy

Trace Capital: Led accounts for 100% and participating for 0% of round participation.All available history.
Trace Capital: Led accounts for 100% and participating for 0% of round participation. All available history
CategoryDeals (count)Share (%)
Led1100%
Participating00%
Trace Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Trace Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led1100%

Team

Ben Mahdavi

General Partner

Steven Smith

Partner