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Operator Stack is an early-stage technology fund and operator network founded to support startups in the logistics, supply chain, fintech, and B2B SaaS sectors. Established in San Francisco, the fund has grown to include over 200 limited partners, primarily composed of top-tier technology operators. This unique structure allows Operator Stack to provide not only capital but also invaluable operational support to its portfolio companies.
The firm focuses on pre-seed, seed, seed-plus, and Series A funding stages, with a check size ranging from $100,000 to $5 million, typically favoring investments around $1.5 million. Operator Stack is backed by Bain Capital Ventures, which adds to its credibility and resource pool. The firm has a strong emphasis on leveraging the collective experience of its team and network to guide startups through their growth phases.
Operator Stack invests in early-stage companies across logistics, supply chain, fintech, and B2B SaaS sectors. The fund's investment strategy is centered on providing operational support and strategic advice to founders, drawing from the extensive experience of its team and network of operators. This operational focus differentiates Operator Stack from many traditional venture capital firms.
The firm seeks to partner with founders who demonstrate a deep understanding of their market and possess a clear vision for their business. Operator Stack values companies that can leverage technology to solve real-world problems, particularly in logistics and financial services. The fund's deal structure typically involves significant involvement from its general partners, who are active operators themselves, ensuring that portfolio companies receive tailored guidance and access to enterprise buyers and talent.
Operator Stack's portfolio includes several notable companies that exemplify its investment focus:
These companies reflect Operator Stack's commitment to investing in sectors that are ripe for innovation and disruption, particularly in logistics and fintech.
Raj Subbiah: Chief Product Officer at Uber Freight and Co-Founder & General Partner at Operator Stack. Raj has extensive experience in logistics operations and product management.
Matt Doka: Co-Founder & General Partner at Operator Stack, previously CTO at SumUp (North America). Matt has a strong background in technology and product development.
Stewart Pond, CFA: General Partner at Operator Stack, bringing financial expertise and investment experience to the team.
Collectively, the team at Operator Stack has over 40 years of experience across business, product, and technology, with multiple successful exits in their backgrounds.
To pitch Operator Stack, founders should visit their website at www.operator-stack.com. The pitch deck should include a comprehensive overview of the business model, market analysis, and financial projections. Operator Stack prefers warm introductions but will also consider direct submissions through their website. Founders can expect a response within a few weeks after submission.
As of April 2026, Operator Stack has been active in the venture capital space, focusing on early-stage investments in logistics and fintech. The firm recently participated in a Series A funding round for Vooma, a freight AI/automation company, showcasing its commitment to supporting innovative startups in these sectors.
Additionally, Operator Stack's portfolio company Greenscreens was acquired for $160 million by Triumph Financial, marking a significant exit for the fund and highlighting its successful investment strategy.
What are Operator Stack's investment criteria?
Operator Stack focuses on early-stage companies in logistics, supply chain, fintech, and B2B SaaS sectors. They look for startups that demonstrate a strong understanding of their market and possess a clear vision for growth.
How can I apply or pitch to Operator Stack?
Founders can pitch their ideas through the Operator Stack website at www.operator-stack.com. It is recommended to include a detailed business plan and financial projections in the pitch deck.
What makes Operator Stack different from other venture capital firms?
Operator Stack is unique due to its operator-driven approach. All general partners are active technology operators, providing direct industry experience and operational support to portfolio companies.
What is the geographic scope of Operator Stack's investments?
The firm primarily invests in startups based in the United States, focusing on early-stage companies that are addressing significant challenges in their respective sectors.
What is the typical check size for investments?
Operator Stack typically invests between $100,000 and $5 million, with a sweet spot around $1.5 million for most deals.
What kind of post-investment involvement can founders expect?
Founders can expect significant operational support from Operator Stack, including access to enterprise buyers, talent acquisition, and strategic advice tailored to their specific challenges.
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