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Stage 2 Capital, founded in 2018 in New York City, is the first venture capital firm focused exclusively on go-to-market (GTM) strategies. With over $245 million raised across three funds, the firm has made 105 investments, establishing itself as a leader in the B2B software investment landscape. The firm was co-founded by Jay Po, a former Bessemer partner, and Mark Roberge, the founding Chief Revenue Officer of HubSpot, who scaled the company from $0 to $100 million in revenue. This unique background informs Stage 2 Capital's approach, which combines capital with strategic GTM insights to help portfolio companies achieve sustainable revenue growth.
Stage 2 Capital's reputation is bolstered by its extensive network of over 500 senior GTM executives from prominent companies such as Snowflake, Atlassian, Zoom, Salesforce, and Slack. This network not only provides valuable industry connections but also actively participates in sourcing deals, coaching portfolio companies, and facilitating business development opportunities. The firm has a strong commitment to operationalizing revenue growth, ensuring that its investments are not just financially sound but also strategically positioned for success in the competitive B2B software market.
Stage 2 Capital specializes in investing in early-stage B2B software companies, particularly those targeting approximately $1 million in annual recurring revenue (ARR). The firm focuses on seed and Series A stages, with check sizes ranging from $2 million to $6 million, typically favoring a sweet spot of around $4 million. Their investment strategy encompasses a variety of sectors, including enterprise applications, fintech, artificial intelligence, data solutions, developer tools, and vertical software.
What sets Stage 2 Capital apart is its commitment to pairing capital with GTM expertise. The firm recognizes that founders often require more than just financial backing; they need guidance on executing effective go-to-market strategies. By leveraging its network of over 1,000 senior GTM executives, Stage 2 Capital enhances its portfolio companies' product-market fit, customer retention, and scalable unit economics. This unique approach allows the firm to support companies in navigating the complexities of the B2B software landscape, ultimately driving their growth and success.
Stage 2 Capital boasts a diverse portfolio of 105 companies, with 58 active investments currently. Notable exits include Metaplane, which was acquired by Datadog, showcasing the firm's ability to identify and nurture high-potential companies. Recent investments highlight the firm's ongoing engagement in the B2B software space, with significant funding rounds such as Letter AI's $10.6 million Series A, Basis Theory's Series B, and Rally UXR's $11 million round. These investments reflect Stage 2 Capital's strategic focus on companies that demonstrate strong growth potential and align with their GTM expertise.
In addition to these notable investments, Stage 2 Capital's portfolio includes companies like QuotaPath and Opus, which have benefited from the firm's unique approach to scaling revenue operations. The firm's active involvement in its portfolio companies, facilitated by its extensive network of GTM executives, positions them to achieve sustainable growth and success in their respective markets.
Jay Po - Co-Founder. Former partner at Bessemer, recognized in Forbes 30 Under 30 for his contributions to the venture capital space.
Mark Roberge - Co-Founder. Founding Chief Revenue Officer at HubSpot, instrumental in scaling the company from $0 to $100 million in revenue.
To pitch Stage 2 Capital, founders should email info@stage2.capital. It is recommended to include a concise overview of the business, market opportunity, and how the company aligns with their GTM-focused investment strategy. The firm is open to both warm introductions and cold applications, but clarity and alignment with their investment thesis are crucial.
Stage 2 Capital operates the Catalyst program, an 11-week GTM accelerator that provides portfolio companies with $100,000 in funding. This program focuses on coaching companies in sales playbooks, pricing strategies, hiring practices, and compensation models, equipping them with the tools needed to scale effectively.
As of February 3, 2026, Stage 2 Capital made its latest investment, continuing its trend of approximately eight investments per year. The firm remains actively engaged in the B2B software sector, consistently identifying and supporting high-potential companies.
Stage 2 Capital primarily invests in seed and Series A stages, focusing on early-stage B2B software companies. They target companies that are approaching approximately $1 million in annual recurring revenue (ARR).
Founders can pitch Stage 2 Capital by sending an email to info@stage2.capital. It is advisable to provide a clear overview of the business model, market opportunity, and how the company aligns with their GTM-focused investment strategy.
Stage 2 Capital focuses on B2B software sectors, including enterprise applications, fintech, artificial intelligence, data solutions, developer tools, and vertical software. Their investment strategy is tailored to companies that demonstrate strong growth potential in these areas.
The typical check size for Stage 2 Capital ranges from $2 million to $6 million, with a sweet spot around $4 million. This allows them to provide substantial support to their portfolio companies during critical growth phases.
Stage 2 Capital primarily invests in companies based in the United States. Their focus on the U.S. market allows them to leverage their extensive network of GTM executives and industry connections effectively.
Stage 2 Capital offers extensive portfolio support through its network of over 500 senior GTM executives. This includes coaching on sales playbooks, pricing strategies, hiring practices, and compensation models, ensuring that portfolio companies are well-equipped to scale their revenue operations.
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