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Tola Capital is a women-led venture capital firm founded in 2010 in Seattle, Washington, by former Microsoft executives Sheila Gulati and Stacey Giard. With a total of $688 million in assets under management (AUM) and a recent Fund III of $230 million announced in November 2023, Tola Capital has established itself as a significant player in the venture capital landscape. The firm specializes in investing in seed and early-stage companies, particularly those focused on AI-enabled enterprise software. Tola Capital's leadership team brings a deep technical operator background, leveraging their extensive experience from Microsoft to guide portfolio companies effectively.
Since its inception, Tola Capital has built a diverse portfolio of 57 companies, including two unicorns, Glia and OneTrust. The firm has achieved 12 successful exits, with notable acquisitions by industry giants such as Microsoft, SAP, and Oracle. Tola Capital's reputation is bolstered by its hypothesis-based investing approach, which allows the firm to identify and support innovative solutions in the rapidly evolving tech landscape. Their geographic focus spans North America, Europe, and beyond, making them a globally minded investor.
Tola Capital's investment focus centers on AI-enabled enterprise software, specifically targeting sectors such as artificial intelligence, software as a service (SaaS), cybersecurity, generative AI, and developer tools. The firm employs a hypothesis-based investment strategy, which involves rigorous analysis and validation of market opportunities before committing capital. Tola Capital typically invests in seed to Series B stages, with check sizes ranging from $1 million to $15 million.
The firm is particularly interested in companies that leverage domain-specific foundation models, AI/ML tooling, AI SaaS applications, compliance and governance solutions, and AI security tools. This focus on transformative AI applications positions Tola Capital as a forward-thinking investor in the enterprise software space. By concentrating on these high-growth areas, Tola Capital aims to partner with visionary founders who are pushing the boundaries of technology and creating impactful solutions for businesses.
Tola Capital boasts a robust portfolio of 57 companies, showcasing its commitment to investing in innovative enterprise software solutions. Among its notable investments are two unicorns, Glia and OneTrust, which have achieved significant market valuations. The firm has also recorded 12 successful exits, with key acquisitions by major players in the tech industry, including Microsoft, SAP, and Oracle. For instance, Zilla Security was acquired for $165 million in February 2025, highlighting Tola Capital's ability to identify and support high-potential companies.
Other prominent portfolio companies include 3scale, acquired by Oracle, and APT, which was acquired by Mastercard. Additionally, Clipchamp, a browser-based video editing platform, exemplifies Tola Capital's focus on cutting-edge technology. The firm's diverse portfolio reflects its strategic emphasis on AI-enabled enterprise software, positioning it well for continued success in the venture capital arena.
Sheila Gulati - Co-founder and Managing Partner, Sheila brings extensive experience from her time at Microsoft, focusing on guiding portfolio companies in their growth strategies.
Stacey Giard - Co-founder and Partner, Stacey leverages her technical background to support startups in navigating the complexities of enterprise software development.
To pitch Tola Capital, founders should prepare a detailed presentation that highlights their business model and technology alignment with Tola's focus on AI-enabled enterprise software. Specific contact details for submissions are not provided, so a well-crafted outreach is recommended.
In December 2025, Tola Capital made its latest investment, continuing its trend of backing innovative companies in the AI-enabled enterprise software space. The firm remains active in identifying transformative technologies and supporting their growth.
Tola Capital invests in seed, Series A, and Series B stages, focusing on early-stage companies that are leveraging AI technologies in their solutions.
Founders interested in pitching Tola Capital should prepare a comprehensive presentation that outlines their business model, market opportunity, and how their technology aligns with Tola's focus on AI-enabled enterprise software.
Tola Capital primarily focuses on sectors such as artificial intelligence, SaaS, cybersecurity, generative AI, and developer tools, investing in companies that are innovating within these domains.
The typical check size for Tola Capital ranges from $1 million to $15 million, depending on the stage of the investment and the specific needs of the portfolio company.
Tola Capital has a geographic focus that includes North America, the United States, Canada, and Europe, allowing them to invest in promising startups across these regions.
While specific details about the application process are not provided, founders are encouraged to reach out with a well-prepared pitch that aligns with Tola's investment focus.
Tola Capital offers technical guidance and operational support to its portfolio companies, leveraging the deep enterprise software expertise of its leadership team to help founders navigate challenges and scale their businesses.
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