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Binary Capital is an early-stage venture capital firm founded in 2014 and based in the United States. The firm has a historical focus on investing in technology, particularly in consumer products and alternative infrastructure. Although it has made a significant impact in the venture capital landscape, recent reports indicate that it is no longer actively operating as a VC platform.
Initially, Binary Capital raised a debut fund of $125 million, which was aimed at supporting visionary entrepreneurs in the technology sector. The firm has been associated with notable companies and founders, including those connected to Patreon, Bitfury, and Toss. However, following a leadership crisis in 2017, the management of Binary Capital's fund was taken over by Lerer Hippeau, leading to questions about its current operational status.
As of now, Binary Capital should be regarded as a historical investor rather than an active fundraising target. Founders seeking investment should verify the current operational status and consider reaching out to successor fund managers for any legacy matters.
Binary Capital historically invested in early-stage companies across multiple sectors within the technology industry. The firm targeted sectors such as consumer technology, fintech, blockchain, and alternative infrastructure. Their investment strategy was designed to support visionary entrepreneurs who were innovating in these fields.
Binary Capital's check sizes and specific deal structures have not been disclosed, but the firm focused on seed and Series A stages. The firm aimed to back companies that were building consumer products, social platforms, and alternative infrastructure solutions. While the firm’s website indicates a broad interest in technology, including AI and healthcare, the current operational focus remains unclear due to its reported inactivity.
Binary Capital has backed several notable companies, including:
Additionally, the firm has connections to founders associated with major companies such as Snap, Instagram, Twitter, Uber, and SpaceX. These associations highlight Binary Capital's historical influence in the tech sector, although the specifics of these investments should be verified by founders.
Jonathan Teo - Co-Founder: Jonathan Teo has a background in technology and venture capital, having previously worked at Google, Benchmark Capital, and General Catalyst. He became the remaining managing partner of Binary Capital after the resignation of co-founders Justin Caldbeck and Matt Mazzeo in 2017.
Rami Rahal - Co-Founder: Rami Rahal co-founded Binary Capital and has been involved in various investment activities within the firm.
Eric Feng - Partner: Eric Feng is a partner at Binary Capital, contributing his expertise in technology investments.
For pitches, founders can visit binarycap.com. However, it is important to note that Binary Capital is not currently active in making new investments. Founders should verify the current operational status and consider reaching out to successor fund managers for any legacy matters.
In 2017, Binary Capital faced a leadership crisis that led to the resignation of co-founders Justin Caldbeck and Matt Mazzeo. Following this, in March 2018, it was reported that Lerer Hippeau was taking over management of Binary Capital's $125 million debut fund. This transition marked a significant shift in the firm's operational status.
As of 2026, independent research indicates that Binary Capital is likely defunct, with no reliable public evidence found that the firm is actively raising or deploying new capital. Founders should treat Binary Capital as a historical investor rather than an active fundraising target.
What are Binary Capital's investment criteria?
Binary Capital historically focused on early-stage investments in technology companies, particularly in consumer products and fintech. They sought visionary entrepreneurs who were innovating in these sectors.
How can I pitch to Binary Capital?
For pitches or applications, founders can visit binarycap.com. However, it is important to note that the firm is not currently active in making new investments.
What makes Binary Capital different from other VCs?
Binary Capital has a historical focus on technology and consumer products, with a notable portfolio that includes companies like Patreon and Bitfury. However, due to its reported inactivity, it may not be a viable option for new funding.
What is the geographic scope of Binary Capital's investments?
Binary Capital has primarily focused on the United States, although it has claimed a presence in Singapore and London historically. Current operational status in these regions is uncertain.
What is the fund size and check size for Binary Capital?
Binary Capital raised a debut fund of $125 million, but specific check sizes have not been disclosed. The firm primarily targeted seed and Series A stages for its investments.
What should founders know about post-investment involvement?
Historically, Binary Capital provided support to its portfolio companies through its network and expertise in technology and consumer products. However, founders should verify the current operational status and seek guidance from successor fund managers for legacy matters.
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