About FCVC
FCVC is a venture capital firm located in San Francisco, United States. As of Sep 2026, FCVC is an active investor, having invested in 326 companies, with 4 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series C round of Numeral Overall, FCVC portfolio has seen 19 unicorns, 8 IPOs and 80 acquisitions including key companies like DoorDash, Instacart and Coinbase. A lot of funds co-invest with FCVC, with names like Liquid 2 Ventures sharing a substantial percentage of its portfolio. FCVC has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio IPOs
Portfolio Unicorns
Deals in last 12 months
FCVC's List of Top Investments
FCVC has a portfolio of 326 companies, including 19 unicorns. Their most notable investments are in Great Question and Visage.Their portfolio spans across United States, Canada, India and 20 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 31 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by FCVC:1. DoorDash
Platform facilitating fast, same-day delivery of food, grocery and retail essentials from local stores and restaurants to consumers. The platform allows customers to discover local, on-demand delivery or pickup from restaurants, nearby grocery stores. The application is available on the iOS and Android platforms.
Key facts about DoorDash
- Founded Year: 2013
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $2.5B
- Employee Count: 80,579 as on May 31, 2026
- Investors: Founders Circle Capital, Owl Rock and 57 Others
- Latest Funding Round: Series H, Jun 18, 2020, $*****
- Highlight: Public
2. Instacart
Operator of an online marketplace providing grocery and delivery services. The platform connects customers with personal shoppers who fulfill orders from various retailers. Customers can select items, chat with shoppers, and schedule delivery or pickup. The marketplace offers a range of grocery, household, and other retail products. It also provides options for membership and business accounts.
Key facts about Instacart
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $2.93B
- Employee Count: 25,408 as on Sep 30, 2026
- Investors: TrueBridge, equitywestsecurities.com and 85 Others
- Latest Funding Round: Series F, Oct 15, 2021, $*****
- Highlight: Public
3. Coinbase
Online platform for crypto portfolio. It offers solutions for consumers such as regular trading platforms, wallets for storing cryptocurrencies, crypto exchanges, USD-backed stable coins, and more. It also provides solutions for businesses such as custodian services, crypto-based payment acceptance solutions, and more.
Key facts about Coinbase
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $547M
- Employee Count: 7,025 as on Sep 30, 2026
- Investors: Intel, 2020 Ventures and 149 Others
- Latest Funding Round: Post IPO, Aug 13, 2021, $*****
- Highlight: Public
4. Slack
Developer of communication software for team collaboration and project management. This platform facilitates messaging, file sharing, and audio or video meetings. It integrates with various third-party applications to automate workflows and manage tasks. Users organize conversations into channels to coordinate projects and share information. The software includes tools for searching archives, managing user profiles, and implementing security protocols for data protection. Artificial intelligence features assist with summarizing content, drafting responses, and managing automated agents to streamline routine work processes.
Key facts about Slack
- Founded Year: 2009
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.22B
- Employee Count: 2,555 as on Sep 30, 2026
- Investors: ADS Ventures, Glynn Capital and 69 Others
- Latest Funding Round: Post IPO, Apr 16, 2020, $*****
- Highlight: Acquired
5. Substack
Substack is a publishing platform that enables independent writers to create and distribute their own newsletters to a global audience, offering a self-serve model for content creation and monetization.
Key facts about Substack
- Founded Year: 2017
- Location: San Francisco (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2021
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $190M
- Employee Count: 4,285 as on Sep 30, 2026
- Investors: TriplePoint Capital, Bond Capital and 34 Others
- Latest Funding Round: Series C, Jul 17, 2025, $*****
- Highlight: Editors' Pick
FCVC's Year-on-Year Investment Trends
FCVC has invested in 326 companies over the last 13 years, with an average of 4 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Sep 2026, it has made 3 investments in this year. Its most recent first time investment was in Numeral and most recent follow-on round was in Quindar.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 3 | 0 | 3 |
2025 | 2 | 1 | 3 |
2024 | 0 | 0 | 0 |
2023 | 1 | 0 | 1 |
2022 | 5 | 3 | 8 |
2021 | 7 | 2 | 9 |
2020 | 3 | 2 | 5 |
2019 | 4 | 0 | 4 |
2018 | 3 | 0 | 3 |
2017 | 8 | 0 | 8 |
FCVC's Investments by Stage
FCVC has made 30 investments in Seed stage with an average round size of $3.45M, 15 investments in Series A stage with an average round size of $12.9M, 1 investment in Series B stage with an average round size of $13M, 1 investment in Series C stage with an average round size of $100M and 1 investment in Series D stage with an average round size of $413M.Stage of entry | No. of Investments |
|---|---|
Seed | 30 |
Series A | 15 |
Series B | 1 |
Series C | 1 |
Series D | 1 |
Note: We have considered here, only first round of investments
FCVC's Investments by Sector
FCVC has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, FinTech and Enterprise Infrastructure. Notably, it has invested in 310 Tech companies, 238 Enterprise (B2B) companies, 199 Software companies and at least 127 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 32 |
Vertical SaaS | 13 |
Consumer | 12 |
FinTech | 10 |
Enterprise Infrastructure | 8 |
Others | 49 |
Note: We have considered here, only first round of investments
FCVC's Investments by Geography
FCVC has made most investments in United States (33), followed by Canada where it has made 5 investments.Country | No. of Investments |
|---|---|
United States | 33 |
Canada | 5 |
India | 3 |
Brazil | 1 |
Israel | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
FCVC's recent investments
FCVC has made 3 investments in 2026 so far. Numeral and Apollo Atomics are the latest among them.Here are the most recent investments by FCVC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 23, 2026 | United States | Series C | 7401 | [+6] | |
Aug 20, 2026 | United States | Seed | 8277 | [+10] | |
Jun 11, 2026 | United States | Seed | 2047 | [+5] | |
Nov 28, 2025 | United States | Series A | 2606 | ||
Nov 14, 2025 | United States | Series A | 9323 | [+4] |
Unicorns in FCVC's Portfolio
FCVC has 19 unicorns in its portfolio - Eight Sleep, Substack, Gecko Robotics and others. The most recent unicorn in their portfolio is Eight Sleep. It became a unicorn in 2026.Here is a list of unicorns in FCVC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
81 | Provider of AI-based internet-first brand of mattress and smart mattress covers | 2014 | New York City | Series D | ij{exvg | ||
84 | Platform allowing writers to publish and monetize their content directly with readers. | 2017 | San Francisco | Series C | cztdbhd | ||
56 | AI and robotics for infrastructure inspection, maintenance, and operational excellence | 2013 | Pittsburgh | Series D | repjbjn | ||
74 | Digital platform connects students, drivers, and school districts to create a mobility experience | 2014 | Redwood City | Series F | irsqanp | ||
78 | Provider of software for managing corporate spending and invoice processing | 2016 | Paris | Series C | hbbvsmn |
IPOs and Publicly Listed companies in FCVC's Portfolio
8 of FCVC's portfolio companies have become public. Alchemy Nano got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V), in Jul 2026 at marketcap of $38.7M and EquipmentShare got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $5.24B.Here are FCVC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 09, 2026 | - | - | 2392 | |
Jan 23, 2026 | - | - | 8732 | |
Dec 29, 2023 | - | - | 2035 | |
Sep 19, 2023 | Mar 15, 2017 | Series D | 1525 | |
Oct 14, 2021 | - | - | 2129 |
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Acquired companies in FCVC's Portfolio
80 companies from FCVC's portfolio have been acquired. The most recent acquisition was Leapfin in Jun 2026 by Airwallex for $*****.Here are FCVC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 11, 2026 | - | - | 4034 | |
Mar 30, 2026 | - | - | 1725 | |
Nov 10, 2025 | - | - | 1193 | |
Aug 22, 2025 | - | - | 7822 | |
Apr 14, 2025 | - | - | 2124 |
Team profile of FCVC
FCVC has a team of 2 members including 2 Partners. FCVC's team does not sit on the board of any company as of now.Co-investors of FCVC
Over the past 13 years, 442 investors have co-invested in FCVC's portfolio companies. This includes funds and angels.
- Invested before FCVC: Y Combinator, FundersClub and 79 others have invested in rounds before FCVC. There are 32 companies where Y Combinator has invested before FCVC and 4 companies where FundersClub has invested before FCVC.
- Top Co-investors of FCVC: 189 investors entered a company along with FCVC. These include investors like Liquid 2 Ventures (8 companies).
- Invested after FCVC: A total of 172 investors have invested in FCVC's portfolio after their investments. Top Investors include Tiger Global Management (6 companies), Coatue (3 companies) and Andreessen Horowitz (3 companies).
Recent News related to FCVC
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Apollo Atomics Raises $31 Million to Commercialize Factory-Built Nuclear ReactorsPR Newswire•Aug 20, 2026•Apollo Atomics, FCVC
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Structured AI Raises $4.2M Seed Funding Led by FCVC to Enhance AI Quality Assurance for ConstructionThe SaaS News•Jun 11, 2026•Structured Data, FCVC
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Quindar raises $18m for adaptive Mission ControlElectronics Weekly•Nov 28, 2025•Quindar, Washington Harbour Partners, FCVC, Booz Allen Hamilton and 1 other
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AI testing startup Momentic raises $15M in Series A led by Standard Capital with Dropbox Ventures participation.TechCrunch+•Nov 24, 2025•Notion, Momentic, Dropbox, Karman and 3 others
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Avallon Raises $4.6M in Seed FundingFinSMEs•Nov 06, 2025•Avallon, Booom, 1984 Ventures, Y Combinator and 13 others
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Athena Launches World’s Fastest Generative Engine Optimization Platform with $2.2M FundingWebwire•Jun 17, 2025•AthenaHQ, Y Combinator, FCVC, Red Bike Capital and 1 other
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Quindar raises million$ to streamline satellite testing + automate operationsSatNews•Jan 31, 2023•Quindar, Y Combinator, FCVC, Soma Capital and 2 others
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Six ex-OneWeb engineers raise $2.5M for Quindar to revolutionize satellite mission managementTechCrunch+•Jan 24, 2023•FCVC, Quindar, Liquid 2 Ventures, Soma Capital and 1 other
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Quindar raises seed round to provide mission management software servicesSpaceNews•Jan 24, 2023•Quindar, Y Combinator, FCVC, Soma Capital and 3 others
