Seed-stage VC, US

Theory Ventures

Venture capital firm · San Francisco · Founded 2023

Quick read

Theory Ventures is a seed and Series A VC firm founded in 2023 by Tomasz Tunguz, headquartered in San Francisco, US. It backs early-stage software companies that turn technology discontinuities into go-to-market advantages, with a focus on AI, SaaS, and data infrastructure. The firm reached $688M AUM across two funds in under two years.

Key facts

Founded
2023
Founders
Tomasz Tunguz
Employees
1-10
Sectors
saas, ai, enterprise, fintech
Website
theoryvc.com

Investment thesis

Theory Ventures backs seed and Series A software companies — primarily in AI, SaaS, and data infrastructure — that exploit technology discontinuities to build durable go-to-market advantages. Check sizes run $1M–$25M.

Recent activity

  • Jun 2026investment
    Theory Ventures participated in Sail Research's $80 million funding round alongside Kleiner Perkins, Redpoint Ventures, Sequoia, and others. tracxn.com
  • Jun 2026investment
    Theory Ventures invested in Delphi Digital's Series B on June 28, 2026 — the firm's most recent disclosed investment per CB Insights. cbinsights.com
  • Jun 2026investment
    Portfolio company Aampe exited on June 24, 2026, marking Theory Ventures' second portfolio exit. cbinsights.com
  • Jun 2026investment
    Allium raised $40 million in a Series B led by Amplify Partners, with Theory Ventures and Kleiner Perkins participating. cbinsights.com
  • May 2026press
    Tomasz Tunguz appeared in a widely circulated talk titled "The $575B AI Bet (Biggest Since the World Wars) and the New Two-Buyer Reality in Software." cbinsights.com
  • Mar 2026fundraise
    Theory Ventures closed its second fund at $450 million, targeting early-stage investments in AI, SaaS, and fintech. Total AUM reached $688 million. superscout.co
  • 2026investment
    Portfolio company Omni reached unicorn status at a $1.5 billion valuation after raising $90 million, two years after Theory Ventures first invested. tracxn.com
  • 2026investment
    Theory Ventures invested in Artemis's $70 million Series A to build an AI-native detection engine for security operations. tomtunguz.com
  • Jul 2026investment
    Theory Ventures led a $65M Series B for Ollama, the open-source tool that lets developers run AI models on personal computers. venturecapital.com
  • Jun 2026investment
    Theory Ventures participated in Sail Research's $80M AI agent infrastructure round alongside Kleiner Perkins, Redpoint, and Sequoia. tracxn.com
  • Jun 2026investment
    Theory Ventures invested in Delphi Digital's Series B on June 28, 2026, its most recent disclosed deal per CB Insights. cbinsights.com
  • Jun 2026investment
    Portfolio company Aampe exited on June 24, 2026 — Theory Ventures' latest portfolio exit to date. cbinsights.com

Notable investments

Key people

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

  • Tomasz Tunguz · General Partner / Founder
  • Calvin French-Owen · Partner
  • Kristin Beach · CFO

Sources

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Frequently asked

What is Theory Ventures?+

Theory Ventures is a seed and Series A VC firm founded in 2023 by Tomasz Tunguz, headquartered in San Francisco, US. It backs early-stage software companies that turn technology discontinuities into go-to-market advantages, with a focus on AI, SaaS, and data infrastructure.

Where is Theory Ventures headquartered?+

Theory Ventures is headquartered in San Francisco, United States.

When was Theory Ventures founded?+

Theory Ventures was founded in 2023 by Tomasz Tunguz.

What sectors does Theory Ventures invest in?+

Theory Ventures focuses on saas, ai, enterprise, fintech. They primarily invest in these sectors.

How do I prepare for a meeting with Theory Ventures?+

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Generated by briefthecall.com from public web sources. Last updated August 22, 2026. Each claim is linked to its source above.

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