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Active Capital is a venture capital firm founded by Pat Matthews in 2017, based in San Antonio, Texas. Matthews brings over 20 years of experience in enterprise software and cloud infrastructure to the firm. Active Capital focuses on supporting ambitious, technical founders across the United States, particularly those involved in pre-seed investments in enterprise software and artificial intelligence.
Since its inception, Active Capital has established itself as a key player in the early-stage investment landscape, emphasizing the importance of addressing real business challenges through technology. The firm has successfully raised three funds, with the latest, Fund III, announced at over $28 million, bringing its total assets under management (AUM) to over $100 million. This growth reflects Active Capital's commitment to backing innovative startups that are poised for success.
Active Capital's investment strategy is characterized by its focus on pre-seed and seed stages, where it typically invests between $100,000 and $1 million. The firm is dedicated to engaging early with founders, providing not only capital but also mentorship and strategic guidance to help startups navigate their growth journey.
Active Capital specializes in pre-seed investments, primarily targeting sectors such as software as a service (SaaS) and artificial intelligence (AI). The firm typically provides funding ranging from $100,000 to $1 million, with the potential for larger investments as companies scale. Active Capital seeks to partner with founders who are addressing significant business problems through innovative software solutions.
The firm prefers to engage early in the funding process, focusing on technical founders who are building AI-native business software, apps, and cloud infrastructure. Active Capital's investment thesis emphasizes the importance of capital-efficient companies that can achieve product-market fit without excessive burn rates. This approach allows the firm to support startups that are scrappy and focused on sustainable growth.
Geographically, Active Capital invests across the United States, with a particular interest in founders outside traditional coastal hubs. The firm aims to be a meaningful partner for technical founders, providing not just financial backing but also valuable insights and connections within the tech industry.
Active Capital has invested in a diverse range of companies, focusing on those that align with its investment thesis in software and AI. Notable portfolio companies include:
In addition to these current investments, Active Capital has also seen successful exits from companies like Cloudsnap, Makeswift, RemoteTeam, and Altru, all of which were acquired by larger firms. This track record highlights Active Capital's ability to identify and support high-potential startups in the tech space.
Pat Matthews: Founder & CEO of Active Capital, Pat Matthews has over 20 years of experience in enterprise software and cloud infrastructure. He co-founded Webmail.us, which was sold to Rackspace in 2007. Matthews is the principal contact for the firm and actively engages with portfolio companies.
Cat Dizon: Co-founder & CFO, Cat Dizon plays a crucial role in the operational and financial aspects of Active Capital. She is recognized for her contributions to the firm's founding team and supports the overall strategy and execution of investments.
Chris Saum: Partner & Investor, Chris Saum is part of the investment team at Active Capital. His specific areas of expertise and sector ownership have not been detailed, but he contributes to the firm's investment decisions and portfolio management.
Avery Keller: Executive Admin, Avery Keller supports the operational functions of Active Capital, ensuring smooth communication and coordination within the team.
Kevin Minnick: Technical Advisor, Kevin Minnick provides technical insights and support for portfolio companies, helping to assess the technical viability of startups and their products.
Bethany Stachenfeld: Entrepreneur In Residence, Bethany Stachenfeld is a founder of Sendspark and serves as a voice for portfolio-related founders, offering insights and guidance based on her entrepreneurial experience.
To pitch Active Capital, founders should email team@active.vc. It is advisable to include a pitch deck or memo that outlines the startup's vision, market opportunity, and business model. Active Capital prefers concise and clear presentations that highlight the unique value proposition of the startup.
Founders can expect a response within a reasonable timeframe, although specific timelines may vary based on the volume of inquiries. Active Capital is open to warm introductions, which can enhance the chances of securing a meeting with the investment team.
In summary, a well-prepared pitch that clearly communicates the startup's potential and aligns with Active Capital's focus on software and AI will be most effective.
In June 2025, Active Capital announced the closing of Fund III, which raised over $28 million, bringing the firm's total assets under management to over $100 million. This fund focuses on investments in enterprise software and cloud infrastructure.
Active Capital has been actively investing in early-stage companies, with a portfolio that includes notable firms like ProsperOps, which was reported to have been acquired in 2026. Other successful exits include Finmark, acquired by Bill.com, and Cloudsnap, acquired by Paylocity.
The firm continues to seek out technical founders building AI-native business software, emphasizing its commitment to supporting innovative startups across the United States.
What are Active Capital's investment criteria?
Active Capital focuses on pre-seed and seed stage investments in software and AI sectors. They typically invest between $100,000 and $1 million, targeting technical founders who are solving real business problems.
How can founders pitch to Active Capital?
Founders can reach out to Active Capital via email at team@active.vc. It is recommended to include a pitch deck or memo for review to provide a comprehensive overview of the startup.
What makes Active Capital different from other VC firms?
Active Capital specializes in early-stage investments, particularly in technical founders and AI-native business software. Their focus on pre-seed funding allows them to engage deeply with startups from the outset, providing mentorship and strategic guidance.
What is the geographic scope of Active Capital's investments?
Active Capital invests across the United States, with a particular interest in supporting founders outside traditional coastal hubs like Silicon Valley.
What is the typical check size for investments?
Active Capital typically invests between $100,000 and $1 million in pre-seed and seed rounds, with the potential for larger investments as companies grow.
What kind of post-investment involvement does Active Capital have?
Active Capital aims to provide ongoing support to its portfolio companies, offering mentorship, strategic insights, and access to their network to help startups succeed.
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