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The Venture Codex

Xtal

2261 Market Street Ste 10729, San Francisco, CA, 94114, United States

Overview

Venture capital firm investing in early-stage companies.

Deals · 12mo

1

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Australia
United Kingdom
United States

Sector focus

—

Investment portfolio

3rounds
NAMEDATESIZE
Coherence Neuro (Formerly Opto Biosystems)
Oct 2026Participated
$45 MSeries A
Alloy
Sep 2025Participated
$3 MSeed
Icarus
Sep 2025Led
$6 MSeed
Coherence Neuro (Formerly Opto Biosystems)
Oct 2026Participated
$45 MSeries A
Alloy
Sep 2025Participated
$3 MSeed
Icarus
Sep 2025Led
$6 MSeed
3
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Xtal: 3 funding rounds are recorded in the selected participation categories.All available history.
Xtal: 3 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed11
Series A01

Monthly Deal Activity

Xtal: 3 deals are recorded across 14 months.All available history.
Xtal: 3 deals are recorded across 14 months. All available history
MonthDeals
Sep '252
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '261

Sector Breakdown

Xtal: AI & Machine Learning is the largest displayed sector by deal count (2 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.

Xtal: AI & Machine Learning is the largest displayed sector by deal count (2 deals). All available history
SectorDeals
AI & Machine Learning2
Hardware & Robotics1
Enterprise Software1
Health & Life Sciences1
Data, Analytics & IT1
Space & Frontier Tech1

Deal Size Distribution

Xtal: 3 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.

Xtal: 3 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M1
$10M-$25M0
$25M-$50M1
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Xtal: United States has the largest recorded deal count among the displayed regions (2 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Xtal: United States has the largest recorded deal count among the displayed regions (2 deals). All available history
RegionDeals
United States2
Europe1
Xtal: 18 co-investors are shown, with Blackbird Ventures sharing 2 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.

Xtal: 18 co-investors are shown, with Blackbird Ventures sharing 2 recorded deals. All available history
Co-investorShared deals
Blackbird Ventures2
Ahren Innovation Capital1
AirTree Ventures1
Artesian1
Divergent1
Focalpoint Partners1
Founders Fund1
Lux Capital1
Massive Tech Ventures1
Nebular1
Olive Capital1
OpenAI1
Possible Ventures1
Skip Capital1
Soma Capital1
SV Angel1
Timeless Invest Capital Management1
Topology1

Investment Strategy

Xtal: Led accounts for 33% and participating for 67% of round participation.All available history.
Xtal: Led accounts for 33% and participating for 67% of round participation. All available history
CategoryDeals (count)Share (%)
Led133%
Participating267%
Xtal: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Xtal: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led1100%

Team

Fiona Leng

Founder and Managing Partner