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Twelve Below is a venture capital firm founded in 2021, based in the United States. The firm focuses on early-stage investments, particularly in pre-seed and seed rounds, with a total AUM of approximately $160 million across two funds. Twelve Below aims to reshape the future of venture capital by partnering closely with founders, providing not only capital but also strategic guidance to help them navigate the complexities of achieving product-market fit.
The firm has successfully closed two funds, including Fund II at $80 million in November 2023 and an Opportunity Fund of $28 million. Twelve Below has a strong commitment to supporting entrepreneurs, with over 60% of its portfolio companies having raised follow-on capital, indicating a solid track record of portfolio quality and founder support.
Twelve Below primarily invests in early-stage companies, often being the first investor in pre-seed and seed rounds. The firm targets sectors such as fintech, healthcare, AI, energy, biotech, and consumer. Their investment strategy emphasizes partnering with founders who possess a deep understanding of the problems they are addressing and demonstrate clarity of thought and commitment to their vision.
The firm typically writes checks ranging from $1 million to $3 million, aiming for meaningful ownership of 10% to 15% in core investments. Twelve Below seeks to lead or co-lead funding rounds, providing not just financial support but also operational credibility and a strong network to help founders scale their businesses effectively.
Twelve Below has invested in a diverse range of companies across various sectors. Notable portfolio companies include:
This portfolio reflects Twelve Below's commitment to sectors that are critical for future innovation and growth.
Byron Ling - Co-Founder & General Partner. Byron has over 10 years of experience in venture capital, previously serving as a partner at Primary Venture Partners and Canaan Partners. He has notable board roles at companies such as Ro (telehealth), Papa (elder care), and K Health (AI healthcare).
Taylor Greene - Co-Founder & General Partner. Taylor also brings over 10 years of venture capital experience, having been a partner at Lerer Hippeau and Collaborative Fund. His notable board roles include Allbirds (NASDAQ: BIRD), Step (fintech), and Mirror (acquired by Lululemon).
Allison Kiang - Investor. Allison previously worked at Komodo Health, where she gained valuable experience in healthcare investments.
Tamar Vidra - Investor. Tamar has a background at Red Sea Ventures, contributing to her expertise in early-stage investments.
To pitch to Twelve Below, founders should use the contact information provided on their website at twelvebelow.co or email hello@twelvebelow.co. It is advisable to include a comprehensive deck that outlines the business model, market opportunity, and team qualifications. Founders can expect a response within a few weeks, and warm introductions are preferred but not mandatory.
In November 2023, Twelve Below announced the closing of Fund II at $80 million, alongside an Opportunity Fund of $28 million. This reflects strong confidence from limited partners in the firm's investment strategy and portfolio quality. Since its founding in 2021, Twelve Below has been active in the venture capital space, consistently investing in early-stage companies across various sectors.
Additionally, more than 60% of Twelve Below's portfolio companies have successfully raised follow-on capital, indicating a strong early signal of the quality of their investments and the effectiveness of their support model.
What are Twelve Below's investment criteria?
Twelve Below focuses on early-stage investments, particularly in pre-seed and seed rounds. They target sectors such as fintech, healthcare, AI, energy, biotech, and consumer. The firm seeks to partner with founders who have a deep understanding of their market and a strong commitment to their vision.
How can I apply or pitch to Twelve Below?
Founders can pitch to Twelve Below through their website at twelvebelow.co or via email at hello@twelvebelow.co. It is recommended to include a clear overview of the business model, market opportunity, and team background in the pitch.
What makes Twelve Below different from other venture capital firms?
Twelve Below differentiates itself by partnering closely with founders from the earliest stages, often being the first investor. They provide not only capital but also strategic guidance and operational support to help startups achieve product-market fit.
What is the geographic scope of Twelve Below's investments?
The firm primarily invests in companies based in the United States, focusing on early-stage startups across various sectors.
What is the typical check size for investments?
Twelve Below typically writes checks ranging from $1 million to $3 million for their core investments, aiming for meaningful ownership in the companies they support.
What is the post-investment involvement of Twelve Below?
Twelve Below is actively involved with its portfolio companies, providing strategic guidance and leveraging its network to help founders navigate challenges and scale their businesses effectively.
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