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Volition Capital is a Boston-based growth equity firm founded in 2010 by Larry Cheng, Roger Hurwitz, and Sean Cantwell. The firm has established itself as a key player in the venture capital space, focusing on high-growth, founder-owned companies primarily in the software, internet, and consumer sectors. As of now, Volition Capital manages approximately $1.7 billion in assets under management (AUM) across five funds, with its latest fund, Fund V, totaling $675 million, launched in January 2023.
With a portfolio of 70 active companies and a total of 108 exits, Volition Capital has demonstrated a strong track record in the venture capital industry. The firm has achieved notable milestones, including three unicorns and two IPOs. Its office is located at 177 Huntington Ave, 16th Floor, Boston, MA 02115. Volition Capital's investment strategy is characterized by a commitment to supporting founder-led businesses that exhibit capital efficiency and significant growth potential.
Volition Capital primarily invests in high-growth, founder-owned technology companies across several sectors, including software, commerce, fintech, healthcare, digital health, horizontal SaaS, and B2B commerce. The firm targets companies with annual revenues between $5 million and $50 million, emphasizing those that demonstrate capital efficiency and significant revenue growth, typically ranging from 25% to over 100%.
The firm’s investment strategy includes a focus on hardware-enabled SaaS, go-to-market (GTM) technology, and internet consolidation platforms. Volition Capital seeks to partner with companies that have meaningful founder ownership (20% or more) and a solid revenue base. Their approach includes taking meaningful minority ownership stakes, often with board positions, to provide operational expertise and strategic guidance on scaling capital-efficient businesses.
Volition Capital's portfolio includes 70 active companies, showcasing a diverse range of sectors and business models. Notable companies within their portfolio include:
Volition Capital has achieved a total of 108 exits, including 23 acquisitions and two IPOs, further solidifying its reputation in the venture capital landscape.
Sean Cantwell: Managing Partner with extensive experience in growth equity and technology investments. He has a strong track record of leading successful investments in high-growth companies.
Larry Cheng: Managing Partner who co-founded Volition Capital and has a background in technology and consumer investments. He has played a key role in the firm's strategic direction.
Roger Hurwitz: Managing Partner with a focus on identifying and supporting high-growth technology companies. He has a deep understanding of the venture capital landscape.
Tomy Han: Partner with expertise in operational scaling and strategic growth initiatives. He has a background in technology investments.
Jim Ferry: Partner who brings experience in growth equity and operational support for portfolio companies.
Vince Thomas: Founder & Former CEO of Billhighway, contributing insights from his extensive experience in technology and business operations.
Blake Day: Co-Founder & Chief Technology Officer of Chewy, providing valuable expertise in e-commerce and technology.
Cathy Polinsky: Chief Technology Officer at DataGrail, with a strong background in technology and product development.
Lynne Oldham: Chief People Officer at Dataiku, bringing expertise in human resources and organizational development.
Shauna Spenley: Global Chief Marketing Officer at Warner Bros. Discovery, contributing marketing insights and strategies.
Chris Fahey: SVP, Talent & Human Resources, with experience in talent acquisition and organizational development.
To pitch Volition Capital, founders should submit their pitch decks through the online submission form available on their website. It is important to include comprehensive details about the business, including the market opportunity, competitive landscape, and financial projections. The firm typically reviews submissions and responds within a reasonable timeframe, although specific response times may vary.
Warm introductions are preferred, but not mandatory. Founders are encouraged to clearly outline their unique value proposition and growth strategy in their pitch decks to capture the firm's interest.
In February 2026, Volition Capital announced its investment in Kombo's $25 million Series A funding round. This investment aligns with the firm's focus on high-growth, founder-owned technology companies.
Additionally, Volition Capital has been recognized as a top growth equity firm by GrowthCap, highlighting its successful investment strategies and portfolio management.
In the past year, the firm has made 11 investments, demonstrating its active engagement in the venture capital space and commitment to supporting innovative companies.
What are Volition Capital's investment criteria?
Volition Capital invests in high-growth, founder-owned technology companies with annual revenues between $5 million and $50 million. The firm emphasizes capital efficiency and significant revenue growth, typically seeking companies with a solid revenue base and meaningful founder ownership of at least 20%.
How can I apply or pitch to Volition Capital?
Founders can submit their pitch decks through the Volition Capital website at this link. It is advisable to include detailed information about the business model, market opportunity, and financial projections in the pitch deck.
What makes Volition Capital different from other firms?
Volition Capital focuses on high-growth, founder-owned technology companies and emphasizes capital-efficient business models. The firm takes meaningful minority ownership stakes and often holds board positions to provide operational expertise and strategic guidance.
What is Volition Capital's geographic scope?
The firm primarily invests in companies located in North America, specifically in the United States and Canada.
What is Volition Capital's post-investment involvement?
Volition Capital provides operational support and strategic guidance to its portfolio companies, focusing on scaling capital-efficient businesses and enhancing go-to-market strategies. The firm often takes board positions to facilitate this involvement.
What is the typical check size for investments?
Volition Capital typically invests between $5 million and $50 million in its portfolio companies, depending on the specific needs and growth potential of the business.
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