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Picks and Shovels is an operator-led investment firm founded in 2022, based in the United States. The firm specializes in investing in early-stage startups that create essential tools and infrastructure for businesses. It has a hands-on approach, leveraging the operational experience of its team to support founders in navigating their growth journeys. The firm primarily targets pre-seed and seed stage companies, aiming to fill market gaps with innovative solutions.
As of now, Picks and Shovels manages a portfolio of 20 companies, focusing on sectors such as fintech, web3, AI, healthcare, and consumer goods. The firm operates with a typical investment size of around $100,000, positioning itself as a first money in investor. The firm has established a reputation for its commitment to supporting startups that address significant market needs.
Picks and Shovels focuses on early-stage investments, particularly in the idea, pre-seed, and seed stages. The firm seeks startups that offer tools and infrastructure across various verticals, especially those that demonstrate a strong understanding of their customer demographics and market needs. The typical investment size is around $100,000, positioning the firm as a first money in investor.
The firm emphasizes investing in companies that identify clear market gaps and have innovative solutions. Sectors of interest include fintech, web3, AI, healthcare, and consumer products. The firm looks for founders who are deeply knowledgeable about their markets and customer needs, ensuring that their startups can effectively address existing challenges.
Picks and Shovels has built a diverse portfolio of 20 companies, focusing on innovative solutions across various sectors. Notable portfolio companies include:
This portfolio reflects the firm's commitment to supporting startups that fill significant market needs, particularly in the fintech and web3 sectors.
Josh Schlisserman: General Partner. Josh has a background as Chief of Staff at Series, a regulated digital financial platform for institutions. He graduated from Occidental College and has significant operational experience in the venture capital space. His expertise lies in supporting early-stage startups, particularly in the fintech and web3 sectors.
To pitch to Picks and Shovels, founders should visit their website at picksandshovelsvc.com or email josh@picksandshovelsvc.com. It is recommended to include a detailed overview of the business model, market opportunity, and team background in the pitch deck. The firm typically responds within a few weeks, and warm introductions are preferred but not required.
As of early 2026, Picks and Shovels has expanded its portfolio to over 20 companies. Recent investments include participation in a $7 million raise for Ion Protocol in Q4 2025. The firm continues to focus on being a first money in investor at the pre-seed and seed stages.
In September 2025, Josh Schlisserman was noted as becoming a stealth co-founder of a new company, which may influence the firm's deployment pace in the near future.
What are the investment criteria for Picks and Shovels?
Picks and Shovels invests in early-stage startups, particularly in the pre-seed and seed stages. The firm focuses on companies that provide tools and infrastructure across various sectors, including fintech, web3, AI, healthcare, and consumer goods. They look for startups that demonstrate a strong understanding of their customer demographics and market needs.
How can founders apply or pitch to Picks and Shovels?
Founders can pitch to Picks and Shovels by visiting their website at picksandshovelsvc.com or by emailing josh@picksandshovelsvc.com. It is advisable to include a clear overview of the business model, market opportunity, and team background in the pitch.
What makes Picks and Shovels different from other venture capital firms?
Picks and Shovels is operator-led, meaning that the team brings significant operational experience to the table. This hands-on approach allows them to provide valuable support to portfolio companies in product development, market strategy, and scaling operations.
What is the geographic scope of Picks and Shovels' investments?
The firm primarily invests in startups based in the United States, focusing on early-stage companies that are creating essential tools and infrastructure.
What is the typical check size for investments?
Picks and Shovels typically invests around $100,000 in each startup, positioning itself as a first money in investor.
What kind of post-investment involvement does Picks and Shovels have?
The firm emphasizes building strong relationships with founders, providing operational support, and helping them navigate challenges and seize opportunities in their respective markets.
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