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The Venture Codex

Underscore VC

131 Oliver Street, 3rd Floor, Boston, MA, 02110, United States

Overview

Early-stage venture capital firm supporting bold entrepreneurs.

Founded

2015

Deals ยท 12mo

4

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

United States

Sector focus

Financial Services
Information Technology
Venture Capital

Investment portfolio

62rounds
NAMEDATESIZE
Transfyr
Aug 2026Participated
$25 MSeed
Gander Robotics
Apr 2026Led
$1 MSeed
Rexi
Mar 2026Participated
$1 MSeed
Slang
Feb 2026Participated
$36 MSeries B
Hypernatural
Jul 2025Led
$9 MSeed
CloudZero
May 2025Participated
$56 MSeries C
Terra Security
Apr 2025Participated
$8 MSeed
Orion Security
Mar 2025Participated
$6 MSeed
Copley
Mar 2025Led
$5 MOther Equity
Hue
Nov 2024Led
$5 MSeed
Herald
Oct 2024Participated
$12 MSeries A
Aircon
Aug 2023Led
$3 MSeed
Transfyr
Aug 2026Participated
$25 MSeed
Gander Robotics
Apr 2026Led
$1 MSeed
Rexi
Mar 2026Participated
$1 MSeed
Slang
Feb 2026Participated
$36 MSeries B
Hypernatural
Jul 2025Led
$9 MSeed
CloudZero
May 2025Participated
$56 MSeries C
Terra Security
Apr 2025Participated
$8 MSeed
Orion Security
Mar 2025Participated
$6 MSeed
Copley
Mar 2025Led
$5 MOther Equity
Hue
Nov 2024Led
$5 MSeed
Herald
Oct 2024Participated
$12 MSeries A
Aircon
Aug 2023Led
$3 MSeed
62
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Insights

Time horizon

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Deal Distribution

Underscore VC: 62 funding rounds are recorded in the selected participation categories.All available history.
Underscore VC: 62 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed1213
Series A811
Series B06
Series C+16
Other Equity32

Monthly Deal Activity

Underscore VC: 62 deals are recorded across 125 months.All available history.
Underscore VC: 62 deals are recorded across 125 months. All available history
MonthDeals
Jun '161
Jul '160
Aug '160
Sep '161
Oct '160
Nov '160
Dec '160
Jan '171
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '170
Aug '171
Sep '170
Oct '171
Nov '170
Dec '170
Jan '180
Feb '181
Mar '180
Apr '181
May '180
Jun '181
Jul '180
Aug '181
Sep '180
Oct '180
Nov '181
Dec '181
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '191
Jul '190
Aug '190
Sep '191
Oct '191
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '201
May '200
Jun '201
Jul '200
Aug '202
Sep '202
Oct '201
Nov '201
Dec '201
Jan '210
Feb '210
Mar '212
Apr '211
May '210
Jun '212
Jul '211
Aug '211
Sep '210
Oct '212
Nov '210
Dec '213
Jan '220
Feb '222
Mar '222
Apr '222
May '220
Jun '222
Jul '220
Aug '220
Sep '222
Oct '220
Nov '220
Dec '221
Jan '230
Feb '232
Mar '230
Apr '230
May '230
Jun '230
Jul '232
Aug '231
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '241
Nov '241
Dec '240
Jan '250
Feb '250
Mar '252
Apr '251
May '251
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '261
Apr '261
May '260
Jun '260
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

Underscore VC: Enterprise Software is the largest displayed sector by deal count (22 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.

Underscore VC: Enterprise Software is the largest displayed sector by deal count (22 deals). All available history
SectorDeals
Enterprise Software22
Fintech20
AI & Machine Learning18
Data, Analytics & IT17
Networks, Cloud & Communication17
E-Commerce & Retail11
Professional Services7
Marketing & Advertising5
Media & Entertainment5
Health & Life Sciences5
Developer Tools5
Travel & Hospitality4
Crypto & Blockchain4
Transportation & Logistics3
Consumer & Lifestyle3
Hardware & Robotics3
Cybersecurity & Privacy2
Gaming & eSports2
Education & Workforce1
Real Estate & Construction1
Food & Agriculture1

Deal Size Distribution

Underscore VC: 62 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.

Underscore VC: 62 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M16
$5M-$10M18
$10M-$25M13
$25M-$50M9
$50M-$100M3
$100M-$250M3
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Underscore VC: United States has the largest recorded deal count among the displayed regions (54 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

Underscore VC: United States has the largest recorded deal count among the displayed regions (54 deals). All available history
RegionDeals
United States54
Europe4
Singapore1
Israel1
100161
021111
Underscore VC: 20 co-investors are shown, with Matrix sharing 7 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.

Underscore VC: 20 co-investors are shown, with Matrix sharing 7 recorded deals. All available history
Co-investorShared deals
Matrix7
Greenspring Associates4
Point72 Ventures4
Active Capital3
Afore Capital3
General Catalyst3
Madrona Venture Group3
True Ventures3
Venrock3
Y Combinator3
8VC2
Alven2
Anthemis2
Bain Capital Ventures2
Boston Seed Capital2
Brewer Lane Ventures2
Coinbase Ventures2
Collide Capital2
Defy Partners2
Emergence Capital2

Investment Strategy

Underscore VC: Led accounts for 39% and participating for 61% of round participation.All available history.
Underscore VC: Led accounts for 39% and participating for 61% of round participation. All available history
CategoryDeals (count)Share (%)
Led2439%
Participating3861%
Underscore VC: Single-lead accounts for 38% and co-led for 63% of lead dynamics.All available history.
Underscore VC: Single-lead accounts for 38% and co-led for 63% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead938%
Co-led1563%

Team

Brian Devaney

Principal

Chris Gardner

Partner

James Orsillo

Partner, CFO and COO

John Pearce

Co-Founder & Partner

Lily Lyman

Partner

Michael Skok

Co-Founder and Partner

Richard F. Dulude

Co-Founder & General Partner

Sooah Cho

Principal