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Kivu Ventures is a venture capital firm based in San Francisco, founded by Seth Berman, who previously co-founded Susa Ventures. Established to invest in early-stage companies, Kivu Ventures focuses on Series A and Series B rounds, primarily targeting sectors such as vertical AI, AI infrastructure, logistics, healthcare, and fintech. The firm has a strong commitment to supporting exceptional founders who possess deep domain expertise and a strategic vision for their businesses.
As of now, Kivu Ventures has a diverse portfolio that includes notable companies like Expanse, which was acquired by Palo Alto Networks for $800 million. The firm has a maximum investment capacity of $15 million per company, indicating its ability to support growing businesses effectively. Kivu Ventures emphasizes partnerships with founders who demonstrate strong product-market fit and defensible business models, aiming to back companies that are poised for category leadership.
With a focus on global investments, Kivu Ventures operates primarily in the United States but is open to opportunities worldwide. The firm has been actively engaging with the startup ecosystem, particularly in the AI and tech sectors, and is known for its commitment to recruiting top talent and securing funding for entrepreneurs.
Kivu Ventures has a clear investment strategy that targets Series A and Series B companies demonstrating strong product-market fit and defensible business models. The firm invests in a range of sectors, including vertical AI, AI infrastructure, logistics, digital health, deep tech, and fintech. Kivu Ventures typically invests between $1 million and $15 million per company, focusing on businesses that have shown significant momentum and a clear path to scale.
The firm emphasizes the importance of partnering with exceptional founders who possess deep domain expertise and a strategic vision. Kivu Ventures seeks to back entrepreneurs building innovative products that address real-world challenges, particularly in vertical AI and AI infrastructure. Their investment thesis highlights the need for demonstrated traction, best-in-class metrics, and a clear ambition for category leadership.
Geographically, Kivu Ventures is focused on the United States but remains open to global opportunities. The firm’s approach includes providing support in capital raising, customer introductions, and recruiting, leveraging a strong network of operators and founders to help portfolio companies scale effectively.
Kivu Ventures boasts a diverse portfolio that spans multiple sectors, showcasing its commitment to investing in innovative companies. Notable companies in their portfolio include:
In addition to these, Kivu Ventures has invested in several other companies across various sectors:
Seth Berman: Founder and General Partner. Seth co-founded Susa Ventures and has led investments in companies such as Flexport, Expanse, Chapter, and Pulley. He has a strong focus on AI, AI infrastructure, logistics, digital health, deep tech, and fintech.
Emery Wells: Investment Partner. Emery is an entrepreneur and investor with a background in creative technology, AI, and SaaS. He co-founded Frame.io, which was acquired by Adobe for $1.275 billion, and has invested in companies like Figure.ai and Runway.ai.
Michael Stoppelman: Venture Partner. Michael is an angel investor in over 300 early-stage startups, including Flexport and Vercel. He previously served as SVP of Engineering at Yelp and has expertise in AI, infrastructure, and digital health.
Paul Sciarra: Venture Partner. Paul is the co-founder and former CEO of Pinterest and currently serves as Executive Chairman of Joby Aviation. He advises and invests in frontier technology and consumer products.
Kenny Joo: Head of Finance. Kenny oversees financial operations at Kivu Ventures, ensuring the firm’s investments are managed effectively.
To pitch Kivu Ventures, founders should visit their website at kivu.vc. While specific details about the pitch process are not disclosed, it is advisable to include a comprehensive overview of the business, highlighting product-market fit, traction metrics, and the team’s expertise.
Founders should be prepared for a thorough evaluation process, as Kivu Ventures emphasizes partnerships with exceptional founders. A well-structured pitch deck that outlines the company's vision, market opportunity, and growth strategy will be beneficial.
Response times may vary, so founders should be patient after submitting their pitches. Kivu Ventures values direct engagement and encourages founders to reach out through their online platform.
In June 2025, Kivu Ventures led a $31.5 million Series A investment in HOPPR AI, a medical-grade platform focused on transforming medical imaging.
In April 2025, Kivu Ventures participated in a $50 million Series B round for Plenful, an AI workflow automation platform for healthcare operators.
These recent investments underscore Kivu Ventures' commitment to supporting innovative companies in the AI and healthcare sectors, aligning with their investment thesis focused on vertical AI and AI infrastructure.
What investment criteria does Kivu Ventures use?
Kivu Ventures focuses on Series A and B companies that demonstrate strong product-market fit and defensible business models. They look for businesses with significant momentum and a clear path to scale.
How can founders pitch Kivu Ventures?
Founders can pitch Kivu Ventures through their website at kivu.vc. Specific details about the pitch process are not disclosed, but the firm encourages direct engagement through their online platform.
What makes Kivu Ventures different from other investors?
Kivu Ventures emphasizes partnerships with exceptional founders who possess deep domain expertise and strategic vision. Their focus on vertical AI and AI infrastructure sets them apart in the venture capital landscape.
What is Kivu Ventures' geographic scope?
While Kivu Ventures is based in the United States, they are open to global investment opportunities, particularly in sectors like AI, logistics, healthcare, and fintech.
What kind of support does Kivu Ventures provide to portfolio companies?
Kivu Ventures adds value by assisting portfolio companies with capital raising, customer introductions, recruiting, and providing access to a network of operators and founders.
What is the typical check size for Kivu Ventures?
Kivu Ventures typically invests between $1 million and $15 million per company, depending on the stage and potential of the business.
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