Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
FOG Ventures is a venture capital firm founded in 2020 and based in San Francisco. It operates as a community-based, invite-only investment syndicate, leveraging a network of over 1,000 active operators, including CEOs, COOs, and CFOs, who invest in products they use. The firm has made 47 investments to date, including 4 unicorns and 3 exits, establishing a strong reputation in the venture capital landscape. FOG Ventures co-invests alongside leading firms such as Andreessen Horowitz (a16z), Greylock, Google Ventures (GV), Accel, Redpoint, and Bessemer, which enhances its credibility and reach in the market. The firm focuses on Seed and Series A funding stages, with average check sizes ranging from $250,000 to $1 million. Its unique approach combines investment with community engagement, allowing founders to connect with operators who can become both customers and a talent pipeline.
FOG Ventures specializes in investing in B2B software solutions that cater to the needs of business operators, particularly in the roles of CEO, CFO, and COO. The firm primarily targets Seed and Series A stages, with an average investment of $8.3 million for Seed rounds and $14.2 million for Series A rounds. Its investment focus spans several key sectors, including artificial intelligence (AI), fintech, and software as a service (SaaS). FOG Ventures seeks to back companies that enhance operational efficiency and provide innovative tools for business leaders. The firm’s investment thesis, termed 'Toolbox 2.0 for the modern day operator,' emphasizes the importance of connecting founders with decision-makers and operational insights from its extensive network of operators. This community-driven approach not only supports the startups in their growth journey but also ensures that the investments align with the practical needs of the market.
FOG Ventures boasts a diverse portfolio of 47 investments, including 4 unicorns and 16 active companies as of August 2025. Notable portfolio companies include Remote, Pave, Airbase, Concourse, and Rillet. The firm’s latest investment was in Concourse in January 2026, showcasing its commitment to backing innovative solutions that improve operational capabilities. The presence of unicorns within its portfolio highlights FOG Ventures' ability to identify and support high-potential startups. The firm’s strategy of co-investing alongside top-tier venture capital firms further strengthens its portfolio, providing startups with not only capital but also valuable industry connections and resources.
FOG Ventures Team - The firm comprises a diverse team of 102 professionals, including 33 partners, who bring extensive experience from various operational roles in the tech industry. Their collective expertise enhances the firm's investment strategy and support for portfolio companies.
To pitch FOG Ventures, founders should ideally secure a warm introduction through their network of operators. A well-prepared pitch should include details about the business model, market opportunity, and how the product addresses the needs of business operators. Cold applications may be considered, but a personal connection is preferred.
FOG Ventures has recently made headlines with its latest investment in Concourse in January 2026, continuing its trend of backing innovative companies that enhance operational efficiency. The firm maintains a robust portfolio with 47 investments, including 4 unicorns, showcasing its active role in the venture capital landscape.
FOG Ventures invests primarily in Seed and Series A stages, focusing on early-stage companies that demonstrate strong potential for growth and innovation.
Founders interested in pitching FOG Ventures should prepare a concise presentation that highlights their business model, market opportunity, and how their product serves the needs of business operators. A warm introduction through their network of operators is preferred.
FOG Ventures focuses on sectors such as artificial intelligence (AI), fintech, and software as a service (SaaS), particularly in B2B applications that enhance operational efficiency.
The typical check size for FOG Ventures ranges from $250,000 to $1 million, depending on the stage and potential of the investment opportunity.
FOG Ventures primarily invests in companies based in the United States, leveraging its network of operators within the region.
FOG Ventures offers portfolio support through its extensive network of over 1,000 operators, providing startups with access to potential customers, talent, and operational insights that can drive growth.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.