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Multimodal Ventures is a venture capital firm founded in 2026 and based in the Naperville/Chicago area. The firm focuses on supporting emerging founders through investments in startups accepted into the Y Combinator accelerator program. Multimodal Ventures closed its debut fund of $15 million in February 2026, backed by 99 limited partners. This diverse LP base emphasizes relationships over institutional concentration, allowing for a more tailored investment approach.
The firm employs a proprietary AI algorithm named Midas to analyze data from Y Combinator batches, enabling it to identify high-potential startups across various sectors, including technology, biotechnology, and robotics. This data-driven strategy positions Multimodal Ventures to make informed investment decisions and support innovative companies that have the potential to lead their industries.
Multimodal Ventures primarily invests in startups that are part of the Y Combinator accelerator program, focusing on seed and Series A stages. The firm utilizes its Midas AI platform to systematically analyze data from YC batches, prioritizing investments in high-conviction seed checks. This approach allows Multimodal Ventures to identify promising opportunities across sectors such as AI, biotech, and robotics.
The firm seeks to partner with founders who demonstrate strong potential and innovative ideas. Multimodal Ventures values data-driven insights and aims to support companies that can leverage technology to create significant impact. The firm’s investment strategy is characterized by concentrated seed bets into YC-accepted companies, which are ranked by the Midas algorithm, ensuring a systematic and analytical approach to investment.
Multimodal Ventures has invested in five notable companies, each demonstrating innovation in their respective fields:
These companies reflect Multimodal Ventures' commitment to investing in high-potential startups that are positioned to disrupt their industries through advanced technology and innovative solutions.
Jeff Heitzman: Founder and Managing Partner. Heitzman has a background as a quant trader and was previously a partner at the Chicago Trading Company. He has been an angel investor since 2014, with over 500 startup checks and a track record of 20+ unicorns among his personal investments.
Niraj Shah: Co-founder and Managing Partner. Shah heads the technology division and is responsible for building the Midas AI platform, which is central to the firm's investment strategy.
Ryan Havlick: Co-founder and Managing Partner. Havlick plays a key role in the firm's operations and investment decisions.
Kelly Kozlowski: Director of Investor Relations. Kozlowski manages relationships with the firm's limited partners and oversees communication strategies.
Jean Ortega: Specializes in machine learning, software, and data engineering, contributing technical expertise to the firm's investment analysis.
Tim McGee: Focuses on autonomous, space, and robotic technology, providing insights into emerging trends in these sectors.
Andrew Bartynski: Expert in biotechnology, Bartynski evaluates investment opportunities within the biotech sector.
To pitch Multimodal Ventures, founders should visit the firm's website at multimodal.ventures. It is important to include a comprehensive deck that outlines the startup's vision, market opportunity, and competitive landscape. The firm prefers pitches that highlight how the startup aligns with its focus on Y Combinator-accepted companies.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are encouraged, as they can facilitate the review process and increase the chances of securing a meeting with the investment team.
On February 10, 2026, Multimodal Ventures made its most recent investment in Exin Therapeutics, a company focused on healthcare technology systems. This investment aligns with the firm's strategy of supporting innovative startups within the Y Combinator ecosystem.
In February 2026, Multimodal Ventures announced the closing of its debut fund at $15 million, marking a significant milestone for the firm. The fund is backed by 99 limited partners, emphasizing a relationship-driven investment approach.
What are Multimodal Ventures' investment criteria?
Multimodal Ventures focuses on startups that are part of the Y Combinator accelerator program. The firm invests primarily in seed and Series A stages, targeting companies that demonstrate strong potential for growth and innovation.
How can I pitch to Multimodal Ventures?
Founders can submit their pitches through the firm's website at multimodal.ventures. It is recommended to include detailed information about the startup, its market potential, and how it aligns with the firm's investment focus.
What makes Multimodal Ventures different from other VCs?
Multimodal Ventures differentiates itself by utilizing a proprietary AI algorithm, Midas, to analyze data from Y Combinator batches. This data-driven approach allows the firm to identify high-potential startups systematically, rather than relying solely on relationships.
What is the geographic focus of Multimodal Ventures?
The firm primarily invests in startups based in the United States, particularly those accepted into the Y Combinator program.
What is the typical check size for investments?
While specific check sizes are not disclosed, Multimodal Ventures focuses on high-conviction seed investments, which typically range from $100,000 to $1 million, depending on the startup's needs and potential.
What kind of support do portfolio companies receive?
Multimodal Ventures provides portfolio companies with access to its proprietary AI platform, Midas, which offers data-driven insights for strategic decision-making. The firm also leverages its network to support founders in their growth journey.
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