Pre-seed & seed VC, US

Afore Capital

Venture capital firm · San Francisco · Founded 2016

Quick read

Afore Capital is a pre-seed venture capital firm founded in 2016 and headquartered in San Francisco, CA. It pioneered the institutionalized pre-seed category and claims $500M AUM, making it the largest fund by dollars deployed exclusively at pre-seed. The firm backs founders before product, traction, or revenue—sometimes before a company entity even exists—writing $500K–$2M+ checks and running a formal Founder-in-Residence program.

Key facts

Founded
2016
Founders
Gaurav Jain, Anamitra Banerji
Employees
27
Sectors
generalist, saas, fintech, healthcare, ai, enterprise
Website
afore.vc

Investment thesis

Afore backs founders at the absolute earliest stage—pre-product, pre-revenue, often before a company exists—writing $500K–$2M+ checks with conviction in the person rather than the plan. The firm focuses on product-oriented, technical founders and actively helps them form companies through its Founder-in-Residence program, targeting a path to Series A.

Recent activity

  • Feb 2025fundraise
    Afore Capital closed Fund IV at $185M, pushing total AUM past $500M across four funds. The close was reported by TechCrunch on February 20, 2025. techcrunch.com
  • Feb 2025product
    Alongside Fund IV, Afore launched a Founders-in-Residence (FIR) program — an eight-week, in-person pre-accelerator at its South Park office in San Francisco. Cohorts of 5–8 founders work from "day -1" through ideation and company formation. Afore commits a guaranteed minimum $100K to lead each participant's pre-seed round upon completion. superscout.co
  • Feb 2025press
    Afore framed Fund IV around a strategy it calls Pre-Seed 2.0, targeting both founders with early-stage companies (checks up to $2M) and founders who have not yet settled on an idea. The firm plans to back 35–40 companies and support 50–75 founders through the FIR program from this fund. techcrunch.com
  • 2024–2025fundraise
    Afore returned $47M to LPs from Fund I, representing a 1x return on that vehicle. The firm cites a 34x follow-on ratio and an 85% institutional follow-on rate across its portfolio. angelinvestorsnetwork.com
  • Ongoing 2025investment
    Afore Capital partnered with Gamma — a portfolio company it backed at day zero that has since reached a $2B valuation with 70M users — to launch a joint $10M "Ideas to Reality" fund. The campaign included a 10,000-mile road trip to universities including Stanford, MIT, Harvard, Columbia, and UCLA to source applications. linkedin.com
  • Sep 2024investment
    Portfolio company Kubecost was acquired, representing one of Afore's recent exits. vc-mapping.gilion.com
  • Feb 2025fundraise
    Afore Capital closed Fund IV at $185 million, its largest fund to date, bringing total AUM to $500 million. superscout.co
  • Feb 2025product
    Alongside Fund IV, Afore launched its Founder-in-Residence (FIR) program — an eight-week, in-person pre-accelerator at its South Park office in San Francisco. Cohorts of 5–8 founders work from day -1 through ideation and company formation. Afore commits a minimum $100K to lead each participant's pre-seed round. superscout.co
  • Feb 2025press
    TechCrunch covered the Fund IV close and FIR launch, describing Afore's approach as 'pre-seed 2.0' — backing founders before a product, traction, or finalized idea exists. superscout.co
  • Feb 2025investment
    Afore plans to back 35–40 companies per year through standard pre-seed checks up to $2 million, while supporting 50–75 founders through the FIR program with flexible investment structures. the-tech.kz
  • Apr 2025product
    Afore hosted a Founder-in-Residence Showcase on April 2nd in San Francisco, giving a limited group of investors, angels, and operators a first look at companies coming out of the FIR program. linkedin.com
  • Sep 2024investment
    Portfolio company Kubecost was acquired, marking a notable exit for the firm. vc-mapping.gilion.com

Notable investments

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

  • Gaurav Jain · Co-Founder & Managing Partner
    LinkedIn
  • Anamitra Banerji · Co-Founder & Managing Partner
    LinkedIn
  • Jack McClelland · Investor
    LinkedIn
  • Derrick Li · Team Member
    LinkedIn
  • Joseph Cardini · Investor / Builder
    LinkedIn

Sources

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Frequently asked

What is Afore Capital?+

Afore Capital is a pre-seed venture capital firm founded in 2016 and headquartered in San Francisco, CA. It pioneered the institutionalized pre-seed category and claims $500M AUM, making it the largest fund by dollars deployed exclusively at pre-seed.

Where is Afore Capital headquartered?+

Afore Capital is headquartered in San Francisco, United States.

When was Afore Capital founded?+

Afore Capital was founded in 2016 by Gaurav Jain, Anamitra Banerji.

What sectors does Afore Capital invest in?+

Afore Capital focuses on generalist, saas, fintech, healthcare, ai, enterprise. They primarily invest in these sectors.

How do I prepare for a meeting with Afore Capital?+

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Generated by briefthecall.com from public web sources. Last updated July 20, 2026. Each claim is linked to its source above.

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