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Stage 2 Capital is a venture capital firm established in 2018, focusing on early-stage B2B software companies. Founded by Jay Po, a former Bessemer investor, and Mark Roberge, the founding Chief Revenue Officer of HubSpot, the firm is headquartered in New York City. Stage 2 Capital has successfully raised over $245 million across three funds and has made 105 investments to date.
The firm operates with a unique model that integrates capital investment with go-to-market (GTM) expertise, drawing from a network of over 500 senior GTM executives from leading companies such as Snowflake, Atlassian, and Salesforce. This approach allows Stage 2 Capital to provide not only financial support but also strategic guidance to its portfolio companies, enhancing their chances of success in a competitive market.
Stage 2 Capital specializes in investing in B2B software companies at the seed and Series A stages, typically targeting those with approximately $1 million in annual recurring revenue (ARR). The firm focuses on sectors such as artificial intelligence, fintech, development tools, and enterprise applications. Check sizes range from $2 million to $6 million, with a sweet spot around $4 million.
The investment strategy emphasizes the importance of go-to-market execution, pairing capital with insights from over 1,000 GTM leaders to help portfolio companies scale their revenue operations effectively. This unique approach positions Stage 2 Capital as a leader in supporting B2B software startups in achieving sustainable growth.
Stage 2 Capital has a diverse portfolio of 105 companies, with 58 currently active. Notable exits include Metaplane, which was acquired by Datadog. Recent investments highlight the firm's ongoing engagement in the B2B software space:
Other significant portfolio companies include:
Jay Po: Co-Founder and Managing Director, previously with Bessemer Venture Partners, recognized in Forbes 30 Under 30.
Mark Roberge: Co-Founder and Managing Director, former founding CRO of HubSpot, instrumental in scaling the company from $0 to $100 million in revenue.
Liz Christo: Partner, brings extensive experience in venture capital and startup growth.
Aaron Bigbee: Chief Investment Officer at Rainwater Charitable Foundation, involved in strategic investment decisions.
AJ Bruno: Founder & CEO of QuotaPath, provides insights into revenue operations and startup scaling.
Abbas Haider Ali: Senior Vice President of Customer Success at GitHub, contributes expertise in customer engagement and success strategies.
To pitch Stage 2 Capital, founders should email info@stage2.capital. The pitch deck should include details about the business model, market opportunity, and go-to-market strategy. Founders can expect a response within a reasonable timeframe, but specific timelines may vary based on the volume of inquiries.
Stage 2 Capital runs the Catalyst program, which supports annual cohorts of entrepreneurs focusing on go-to-market execution. The program includes mentorship from industry leaders and provides actionable strategies to help startups succeed. The 2022 cohort featured 15 companies, all benefiting from the extensive network of go-to-market executives associated with Stage 2 Capital.
On February 3, 2026, Stage 2 Capital made its latest investment, continuing its trend of active engagement in the B2B software sector. Over the past 12 months, the firm has completed eight investments, demonstrating its commitment to supporting early-stage companies.
Q? What are Stage 2 Capital's investment criteria?
A Stage 2 Capital invests in early-stage B2B software companies, particularly those targeting around $1 million in ARR. They focus on sectors like fintech, AI, and development tools.
Q? How can startups apply or pitch to Stage 2 Capital?
A Startups can pitch to Stage 2 Capital by emailing info@stage2.capital. They should include relevant information about their business and go-to-market strategy.
Q? What makes Stage 2 Capital different from other VC firms?
A Stage 2 Capital uniquely combines capital investment with access to a network of over 1,000 senior GTM executives, providing portfolio companies with valuable insights and operational support.
Q? What is the typical check size for investments?
A The firm typically invests between $2 million and $6 million, with a sweet spot around $4 million.
Q? What is the geographic scope of Stage 2 Capital's investments?
A Stage 2 Capital primarily invests in companies based in the United States.
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