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Also Capital is an early-stage venture capital firm founded in 2019 by Mike Annunziata. Based in the United States, the firm focuses on investing in technically ambitious founders who tackle challenging problems. The firm emphasizes the importance of courage in entrepreneurship, believing that founders who choose hard problems tend to outperform their peers. This philosophy drives their investment strategy and operational support.
Currently, Also Capital manages a fund size of $21 million and has built a portfolio of over 30 companies since its inception. The firm runs concentrated funds, typically backing around 15 core companies per fund, allowing for genuine attention and support for each investment. The total capital raised by their portfolio companies exceeds $1.5 billion, with an aggregate enterprise value surpassing $7 billion.
Also Capital's commitment to supporting founders extends beyond capital; they assist in making critical technical and commercial decisions and raising follow-on capital. Their focus on hard tech sectors such as space, advanced manufacturing, artificial intelligence, and healthcare positions them uniquely in the venture capital landscape.
Also Capital invests primarily at the inception stage, targeting pre-seed and seed rounds. Their investment strategy is centered on supporting technically ambitious founders who are addressing challenging problems. The firm emphasizes a concentrated fund design, backing around 15 core companies per fund to ensure sustained attention and support.
The sectors of interest for Also Capital include healthcare, artificial intelligence, energy, and industrial applications. They believe that founders who intentionally pick hard problems attract exceptional early talent and ambitious capital partners. This focus on difficult challenges aligns with their operational model, which includes helping founders make critical technical and commercial decisions and raising follow-on capital.
Also Capital's investment approach is hands-on, providing resources and mentorship to portfolio companies. They prioritize companies that demonstrate potential for significant impact and innovation within their respective sectors.
Also Capital has invested in over 30 companies since its founding, with notable portfolio companies including:
These companies collectively raised over $1.5 billion and have an aggregate enterprise value exceeding $7 billion. Also Capital's concentrated investment strategy allows them to provide focused support to these companies, enhancing their potential for success.
Mike Annunziata: Managing Partner. Mike is the founder of Also Capital and has a background in venture capital and operational roles in technology companies. He has a strong focus on hard tech and deep tech investments, emphasizing the importance of supporting founders in their entrepreneurial journeys.
Brandes Woodall: Analyst. Brandes supports the investment team with research and analysis, focusing on identifying promising early-stage companies in the hard tech sector. His expertise lies in evaluating technical innovations and market opportunities.
To pitch to Also Capital, founders should visit their website at alsocapital.com. It is recommended to include a detailed deck that outlines the problem being solved, the solution, market opportunity, and team qualifications. Founders should expect a response within a few weeks, and warm introductions are preferred but not mandatory.
Also Capital appreciates clarity and conciseness in pitches, focusing on the technical and commercial viability of the startup. Founders should be prepared to discuss their vision and how they plan to tackle the challenges in their respective sectors.
In October 2024, Also Capital announced the closing of its first fund with a size of $21 million. This fund is backed by a diverse LP base, including institutional investors, engineers, founders, and family offices.
Since its inception, Also Capital has built a portfolio of over 30 companies, collectively raising more than $1.5 billion. The firm continues to actively seek new investment opportunities in the hard tech sector, focusing on companies that tackle challenging problems.
What are Also Capital's investment criteria?
Also Capital focuses on early-stage companies at the inception stage, particularly in sectors such as healthcare, artificial intelligence, energy, and industrial applications. They seek technically ambitious founders who are tackling challenging problems.
How can I pitch to Also Capital?
Founders can pitch to Also Capital through their website at alsocapital.com. It is advisable to include a clear description of the problem being addressed, the solution offered, and the team's qualifications.
What makes Also Capital different from other VCs?
Also Capital emphasizes a hands-on approach, providing operational support to portfolio companies. They focus on a concentrated fund design, allowing them to back around 15 core companies per fund, ensuring genuine attention and resources for each investment.
What is the typical check size for investments?
While specific check sizes are not disclosed, Also Capital invests at the pre-seed and seed stages, typically providing initial funding to help founders build their first hires and make critical early decisions.
What is the geographic focus of Also Capital?
Also Capital primarily invests in companies based in the United States, aligning with their operational model and support structure.
What kind of post-investment involvement does Also Capital have?
Also Capital is actively involved with their portfolio companies, assisting in hiring, technical decisions, and raising follow-on capital. They aim to be a critical partner in the growth journey of their founders.
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