About Darwin Ventures
Darwin Ventures is a venture capital firm founded in 2004. It is primarily based out of Burlingame, United States. As of Sep 2025, Darwin Ventures has invested in 50 companies. It primarily invests in Seed round in Japan based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and FinTech. Most recently it participated in the $***** Series A round of PopChill Overall, Darwin Ventures portfolio has seen 1 unicorn, 22 IPOs and 18 acquisitions including key companies like Uber, Lyft and Facebook. A lot of funds co-invest with Darwin Ventures, with names like 500 Global sharing a substantial percentage of its portfolio. Darwin Ventures has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Unicorns
Darwin Ventures' List of Top Investments
Darwin Ventures has a portfolio of 50 companies, one of which is a Unicorn. Their most notable investments are in Profet AI and SpiderAF.Their portfolio spans across United States, Japan, Taiwan and 3 more locations. They have invested in Enterprise Applications, Consumer, FinTech and 21 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Darwin Ventures:
1. Uber
Network providing on-demand transportation, delivery, and business management solutions. It facilitates ride requests and connects individuals with transportation providers. Additionally, it offers delivery services for food and other goods. The network extends to business solutions, providing tools for managing rides, meals, and local deliveries for organizations.
Key facts about Uber
- Founded Year: 2009
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $13.2B
- Employee Count: 152,642 as on May 31, 2026
- Investors: TrueBridge, InvestX and 191 Others
- Latest Funding Round: Post IPO, Dec 19, 2020, $*****
- Highlight: Public
2. Lyft
Network facilitating on-demand transportation and ride scheduling services for individuals. It provides options for immediate rides, scheduled pickups, and various vehicle types. The network offers programs for business transportation needs. It also focuses on safety measures and community support initiatives.
Key facts about Lyft
- Founded Year: 2007
- Location: San Francisco (United States)
- Stage: Public
- Total Funding till date: $5.02B
- Employee Count: 3,913 as on Dec 31, 2025
- Investors: HTIF, SeedFord Partners and 161 Others
- Latest Funding Round: Series I, Aug 06, 2018, $*****
- Highlight: Public
3. Facebook
Operator of a social networking service facilitating connection and communication. Its services allows users to connect with friends, family, and other individuals. It provides tools for sharing updates, photos, and videos. The platform also offers features for creating and joining groups, following interests, and discovering content.
Key facts about Facebook
- Founded Year: 2004
- Location: Menlo Park (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $2.27B
- Employee Count: 26,594 as on May 31, 2026
- Investors: Sprout Capital Partners, TCV and 119 Others
- Latest Funding Round: Grant (prize money), Jan 15, 2017, $*****
- Highlight: Public
4. Airbnb
Provider of accommodations, experiences, and related services through an online platform. The platform facilitates connections between hosts and individuals seeking lodging and activities. It offers a variety of options for stays and curated experiences. The platform also provides resources for individuals interested in becoming hosts.
Key facts about Airbnb
- Founded Year: 2008
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $3.07B
- Employee Count: 68,394 as on May 31, 2026
- Investors: TrueBridge, Silver Lake and 161 Others
- Latest Funding Round: Series E, Apr 06, 2020, $*****
- Highlight: Public
5. DocuSign
Provider of electronic signature and intelligent agreement management platform solutions. The platform offers tools for contract lifecycle management, agreement preparation, and agreement workflow automation. It provides features such as electronic notarization, web forms, and multi-channel delivery options. The platform extends its capabilities through integrations, APIs, and a mobile application.
Key facts about DocuSign
- Founded Year: 2003
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $520M
- Employee Count: 8,433 as on May 31, 2026
- Investors: HTIF, Glynn Capital and 90 Others
- Latest Funding Round: Post IPO, Jul 20, 2020, $*****
- Highlight: Public
Darwin Ventures' Year-on-Year Investment Trends
Darwin Ventures has invested in 50 companies over the last 7 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 2 investments. Its most recent first time investment was in Instalimb and most recent follow-on round was in PopChill.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 1 | 2 |
2024 | 1 | 1 | 2 |
2023 | 2 | 0 | 2 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
2020 | 0 | 0 | 0 |
2019 | 1 | 0 | 1 |
Darwin Ventures' Investments by Stage
Darwin Ventures has made 2 investments in Seed stage with an average round size of $1.9M, 2 investments in Series A stage with an average round size of $4.25M and 2 investments in Series B stage with an average round size of $11.2M.Stage of entry | No. of Investments |
|---|---|
Seed | 2 |
Series A | 2 |
Series B | 2 |
Note: We have considered here, only first round of investments
Darwin Ventures' Investments by Sector
Darwin Ventures has a diverse portfolio, with companies operating in the Business Services, Consumer, High Tech, Enterprise Applications and Enterprise Infrastructure. Notably, it has invested in 49 Tech companies, 30 Consumer (B2C) companies, 26 Enterprise (B2B) companies and at least 20 companies focusing on Software.Sector | No. of Investments |
|---|---|
Business Services | 2 |
Consumer | 2 |
High Tech | 2 |
Enterprise Applications | 1 |
Enterprise Infrastructure | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Darwin Ventures' Investments by Geography
Darwin Ventures has made most investments in Japan (3), followed by Taiwan where it has made 3 investments.Country | No. of Investments |
|---|---|
Japan | 3 |
Taiwan | 3 |
Note: We have considered here, only first round of investments
Darwin Ventures' recent investments
Darwin Ventures has not made any investment in 2026 so far.Here are the most recent investments by Darwin Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 15, 2025 | Taiwan | Series A | 1314 | ||
Mar 26, 2025 | Japan | Series B | 9673 | ||
Oct 01, 2024 | Japan | Seed | 1086 | ||
May 21, 2024 | Taiwan | Seed | 7055 | [+4] | |
Oct 20, 2023 | Taiwan | Seed | 4256 | [+3] |
Unicorns in Darwin Ventures' Portfolio
Darwin Ventures has 1 unicorn in its portfolio - MuleSoft. The most recent unicorn in their portfolio is MuleSoft which became a unicorn in 2015, 11 years before Darwin Ventures first invested in it.Here is a list of unicorns in Darwin Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
65 | Cloud based API management platform | 2006 | San Francisco | Series G | ri{hqfd |
IPOs and Publicly Listed companies in Darwin Ventures' Portfolio
22 of Darwin Ventures' portfolio companies have become public. SpaceX got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jun 2026 at marketcap of $996B and Instacart got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $8.3B.Here are Darwin Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 12, 2026 | - | - | 4840 | |
Sep 19, 2023 | - | - | 1956 | |
Nov 04, 2021 | - | - | 4308 | |
Aug 24, 2021 | - | - | 1259 | |
May 05, 2021 | - | - | 3643 |
Acquired companies in Darwin Ventures' Portfolio
18 companies from Darwin Ventures' portfolio have been acquired. The most recent acquisition was Eventbrite in Dec 2025 by Bending Spoons for $*****.Here are Darwin Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 02, 2025 | - | - | 1924 | |
Nov 19, 2025 | - | - | 2751 | |
Mar 29, 2025 | - | - | 8412 | |
Feb 10, 2024 | - | - | 8164 | |
Sep 29, 2023 | - | - | 8972 |
Team profile of Darwin Ventures
Darwin Ventures has a team of 2 members including 2 Partners located in United States. Darwin Ventures' team does not sit on the board of any company as of now.Co-investors of Darwin Ventures
Over the past 7 years, 54 investors have co-invested in Darwin Ventures's portfolio companies. This includes funds and angels.
- Invested before Darwin Ventures: Mitsubishi UFJ Capital, AppWorks and 20 others have invested in rounds before Darwin Ventures. There are 2 companies where Mitsubishi UFJ Capital has invested before Darwin Ventures and 1 company where AppWorks has invested before Darwin Ventures.
- Top Co-investors of Darwin Ventures: 28 investors entered a company along with Darwin Ventures. These include investors like 500 Global (1 company).
- Invested after Darwin Ventures: A total of 4 investors have invested in Darwin Ventures's portfolio after their investments. Top Investors include NDF (1 company), Industrial Technology Investment Corporation (1 company) and Headline (1 company).
Recent News related to Darwin Ventures
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Bestat Secures 310 Million Yen Funding for Industrial 3D Data PlatformSogyo Techo•Jul 23, 2026•Bestat Pharmaservices, Tottori Capital, co.jp, Darwin Ventures and 3 others
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OXMIQ Labs Secures $35 Million in Series A FundingTelangana Today•Jul 01, 2026•Oxmiq, Fundomo, Samsung Catalyst Fund, Pegatron and 7 others
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Protuoso Biosciences Raises $9.5M in Seed FundingFinSMEs•May 27, 2026•Darwin Ventures, Daya Group, Protuoso, NSG Ventures and 3 others
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PopChill Raises US$3 Million in Series A Funding for Luxury Resale AccessibilityGlobeNewswire•Sep 15, 2025•Information Technology Industry Council (ITI), PopChill, Darwin Ventures, AVA and 2 others
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Resale platform PopChill bags $1.3 million investment, expands into SingaporeInside Retail•May 22, 2024•PopChill, Taiwania Capital, 500 Global, Acorn Pacific Ventures and 6 others
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Taiwan’s second-hand luxury platform PopChill launches in Hong KongInside Retail•Oct 20, 2023•PopChill, Industrial Technology Investment Corporation, AVA, 500 Global and 3 others
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Profet Ai Closes Us$5.6m Series A Round To Fuel Regional Expansion And Product DevelopmentPR Newswire•Jan 05, 2023•Profet AI, Darwin Ventures, HIVE Ventures, AUO Optronics and 8 others
