About FCVC
FCVC is a venture capital firm located in San Francisco, United States. As of Nov 2025, FCVC is an active investor, having invested in 323 companies, with 2 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 A round of Quindar Overall, FCVC portfolio has seen 19 unicorns, 7 IPOs and 79 acquisitions including key companies like Slack, Coinbase and DoorDash. 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 & 2 more
Portfolio IPOs
Portfolio Unicorns
FCVC's List of Top Investments
FCVC has a portfolio of 323 companies, including 19 unicorns. Their most notable investments are in Great Question and Visage.Their portfolio spans across United States, Canada, India and 21 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 29 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by FCVC:
1. Slack
Provider of cloud-based team communication and collaboration platform. The platform organizes conversations into searchable channels and direct messages, supports voice and video calls, file sharing, and threaded discussions. It integrates with a broad range of third-party applications and automates workflows through bots and scripting tools. The system enables users to create workspaces for topic- or project-specific communication and provides enterprise-grade security, access controls, and administrative tools. It also incorporates AI-powered search, message summarization, and automation agents to enhance productivity and streamline team coordination.
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: 2,949 as on Mar 31, 2026
- Investors: Glynn Capital, TDM Growth Partners and 68 Others
- Latest Funding Round: Post IPO, Apr 16, 2020, $*****
- Highlight: Acquired
2. 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: $271M as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $547M
- Employee Count: 7,482 as on Mar 31, 2026
- Investors: TrueBridge, Wellington and 142 Others
- Latest Funding Round: Post IPO, Aug 13, 2021, $*****
- Highlight: Public
3. 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: $10.7B as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $2.5B
- Employee Count: 78,668 as on Mar 31, 2026
- Investors: Owl Rock, Fidelity Investments and 53 Others
- Latest Funding Round: Series H, Jun 18, 2020, $*****
- Highlight: Public
4. 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)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $190M
- Employee Count: 3,129 as on Mar 31, 2026
- Investors: TriplePoint Capital, FCVC and 33 Others
- Latest Funding Round: Series C, Jul 17, 2025, $*****
- Highlight: Editors' Pick
5. 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: $2.55B as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $2.93B
- Employee Count: 24,361 as on Mar 31, 2026
- Investors: TCV, Kaplan Group Investments and 82 Others
- Latest Funding Round: Series F, Oct 15, 2021, $*****
- Highlight: Public
FCVC's Year-on-Year Investment Trends
FCVC has invested in 323 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. Its most recent first time investment was in Momentic and most recent follow-on round was in Quindar.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
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 28 investments in Seed stage with an average round size of $2.32M, 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 and 1 investment in Series D stage with an average round size of $413M.Stage of entry | No. of Investments |
|---|---|
Seed | 28 |
Series A | 15 |
Series B | 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 307 Tech companies, 234 Enterprise (B2B) companies, 197 Software companies and at least 124 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 30 |
Vertical SaaS | 13 |
Consumer | 11 |
FinTech | 9 |
Enterprise Infrastructure | 8 |
Others | 45 |
Note: We have considered here, only first round of investments
FCVC's Investments by Geography
FCVC has made most investments in United States (29), followed by Canada where it has made 5 investments.Country | No. of Investments |
|---|---|
United States | 29 |
Canada | 5 |
India | 3 |
Brazil | 1 |
Israel | 1 |
Others | 7 |
Note: We have considered here, only first round of investments
FCVC's recent investments
FCVC has not made any investment in 2026 so far.Here are the most recent investments by FCVC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Nov 28, 2025 | United States | Series A | 2897 | ||
Nov 14, 2025 | United States | Series A | 4304 | [+4] | |
Jun 17, 2025 | United States | Seed | 7461 | [+2] | |
Jan 24, 2023 | United States | Seed | 5824 | [+2] | |
Aug 03, 2022 | United States | Series A | 4174 | [+10] |
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 | y{uznop | ||
85 | Platform allowing writers to publish and monetize their content directly with readers. | 2017 | San Francisco | Series C | bdcyfpj | ||
64 | AI and robotics for infrastructure inspection, maintenance, and operational excellence | 2013 | Pittsburgh | Series D | hhttyjv | ||
73 | Provider of technology platform providing student transportation and fleet management services | 2014 | Redwood City | Series E | dobpaag | ||
74 | Provider of spend management platform automating expense claims and invoice processing | 2016 | Paris | Series C | afzhgom |
IPOs and Publicly Listed companies in FCVC's Portfolio
7 of FCVC's portfolio companies have become public. EquipmentShare got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jan 2026 at marketcap of $5.24B and Zoomcar got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ).Here are FCVC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 23, 2026 | - | - | 3153 | |
Dec 28, 2023 | - | - | 3988 | |
Sep 19, 2023 | Mar 15, 2017 | Series D | 9131 | |
Oct 14, 2021 | - | - | 4123 | |
Apr 14, 2021 | May 08, 2013 | Series A | 7305 |
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Acquired companies in FCVC's Portfolio
79 companies from FCVC's portfolio have been acquired. The most recent acquisition were Mainstay in Mar 2026 by Lemnis.Here are FCVC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 30, 2026 | - | - | 5247 | |
Nov 10, 2025 | - | - | 1319 | |
Aug 22, 2025 | - | - | 2082 | |
Apr 14, 2025 | - | - | 3690 | |
Feb 26, 2025 | - | - | 9740 |
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, 420 investors have co-invested in FCVC's portfolio companies. This includes funds and angels.
- Invested before FCVC: Y Combinator, FundersClub and 77 others have invested in rounds before FCVC. There are 30 companies where Y Combinator has invested before FCVC and 4 companies where FundersClub has invested before FCVC.
- Top Co-investors of FCVC: 169 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), Andreessen Horowitz (3 companies) and Coatue (3 companies).
Recent News related to 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, , Soma Capital and 3 others
