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Race Capital is an early-stage venture capital fund founded in 2021 and based in the San Francisco Bay Area. The firm focuses on investments in enterprise and infrastructure, particularly in sectors related to artificial intelligence (AI) and developer tools. Since its inception, Race Capital has established itself as a significant player in the venture capital landscape, with a portfolio that includes 46 companies and a fund size of $181 million.
The firm has evolved from its previous identity as Proof of Capital, rebranding prior to its second fund raise. Race Capital's notable milestones include the acquisition of Groq by Nvidia, which marked a significant exit for the firm. The team consists of 14 members, including seven partners, who bring extensive experience from various sectors within technology.
Race Capital primarily invests in U.S.-based companies and has a strong emphasis on leading investment rounds. The firm is committed to supporting innovative companies that are shaping the future of technology, particularly in the AI and enterprise sectors.
Race Capital invests across several sectors, including AI infrastructure, enterprise software, cybersecurity, developer tools, and AI-native software. The firm targets early-stage investments, specifically pre-seed, seed, seed-plus, and Series A rounds. Average check sizes typically range from $4 million to $8 million, with a focus on leading investment rounds. This approach allows Race Capital to take a significant role in the companies it invests in, providing not just capital but also strategic guidance.
The firm seeks to partner with technical founders who are building the next-generation stack for the AI era. Race Capital's investment thesis emphasizes the importance of enterprise computing infrastructure, aiming to support startups that leverage technology to create substantial impact. The firm’s geographic focus is primarily on the United States, aligning with its strategy to invest in innovative companies that are at the forefront of technological advancements.
Race Capital's portfolio includes a diverse range of companies that are making significant strides in their respective fields. Notable portfolio companies include:
In addition to these companies, Race Capital has invested in other notable firms such as Figma, Airtable, and Notion, further showcasing its commitment to supporting innovative technology startups. The firm has a total of 46 portfolio companies, with a strong emphasis on seed-stage investments, having completed 27 seed deals and 6 Series A investments in recent years.
Alfred Chuang - General Partner. Co-founder of BEA Systems, which was sold to Oracle for $8.5 billion. Chuang is recognized for his extensive experience in technology and venture capital, often described as a 'CEO's CEO' in Silicon Valley.
Edith Yeung - Founding Partner. Known for her expertise in the Asia-Pacific tech ecosystem, Yeung brings valuable insights into international markets and technology trends.
Chris McCann - General Partner. McCann has a strong background in technology investments and plays a key role in sourcing and evaluating new opportunities.
Matt McLaughlin - Senior Operating Partner. McLaughlin provides operational support to portfolio companies, leveraging his experience in scaling technology businesses.
Kelly Cheng - CFO. Cheng oversees the financial operations of the firm, ensuring effective management of the fund's resources.
Bernard Chan - Investor. Chan contributes to the investment strategy and portfolio management, focusing on identifying high-potential startups.
Alim Giga - Investor. Giga is involved in deal sourcing and due diligence, bringing a keen eye for promising technology ventures.
Elizabeth Candelaria - Executive Assistant. Candelaria supports the team with administrative tasks and coordination.
Mariah Cole - Executive Assistant. Cole assists in managing operations and communications within the firm.
To pitch Race Capital, founders should use the preferred channel provided on their pitch page. It is essential to include a comprehensive deck that outlines the business model, market opportunity, and team qualifications. The firm typically reviews submissions promptly, but response times may vary based on the volume of pitches received.
Warm introductions are encouraged, as they can enhance the likelihood of a favorable review. Founders should ensure their presentations are concise and focused, highlighting the unique aspects of their technology and its potential for growth.
On February 12, 2026, Race Capital made its latest investment in OPAQUE, a company focused on infrastructure and confidential computing. This investment marks one of five new investments made by the firm in the last 12 months.
Race Capital has completed a total of 46 investments, with a strong emphasis on seed-stage companies. In the past year, the firm has participated in 27 seed deals, averaging around $6.83 million per round, and 6 Series A investments with an average size of $9.13 million.
Notably, the firm celebrated the acquisition of Groq by Nvidia, which generated a significant distribution event for Race Capital's second fund. This exit highlights the firm's ability to identify and support high-potential technology companies.
What are Race Capital's investment criteria?
Race Capital focuses on early-stage technology companies, particularly in sectors such as AI, SaaS, and cybersecurity. The firm typically invests in pre-seed, seed, seed-plus, and Series A rounds, with average check sizes ranging from $4 million to $8 million.
How can founders apply or pitch to Race Capital?
Founders interested in pitching to Race Capital can visit their pitch page at this link. The firm encourages detailed presentations that highlight the technology, market potential, and the founding team's expertise.
What makes Race Capital different from other venture firms?
Race Capital differentiates itself through its focus on leading investment rounds and providing strategic guidance to portfolio companies. The team has deep expertise in enterprise technology and AI, which they leverage to support founders in scaling their businesses effectively.
What is Race Capital's geographic scope?
The firm primarily invests in U.S.-based companies, aligning its strategy with the dynamic technology landscape in the United States.
What is Race Capital's post-investment involvement like?
Race Capital actively engages with its portfolio companies, providing operational support and access to a robust network of industry connections. The firm follows through from pre-seed to Series A and beyond when conviction holds, indicating a commitment to long-term partnerships.
What is the size of Race Capital's fund?
Race Capital's current fund size is $181 million, which was confirmed during their recent fundraising efforts. The firm has a hard cap of $250 million for its second fund.
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