About Formus Capital
Formus Capital is a venture capital firm founded in 2023. It is primarily based out of London, United Kingdom. As of Feb 2026, Formus Capital is an active investor, having invested in 11 companies, with 3 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 Retail and High Tech. Most recently it participated in the $***** Series B round of Letter AI Overall, Formus Capital portfolio has seen 1 unicorn, namely PostHog. A lot of funds co-invest with Formus Capital, with names like Soma Capital sharing a substantial percentage of its portfolio. Formus Capital has team of 6 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Formus Capital's List of Top Investments
Formus Capital has a portfolio of 11 companies, one of which is a Unicorn. Their most notable investments include PostHog and Every.Their portfolio spans across United States, Brazil, India and 1 more locations. They have invested in Enterprise Applications, Retail, High Tech and 4 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Formus Capital:1. PostHog
Cloud based product analytics tools. Features of the product include user behavior analysis, analyzation of trends, funnels, retention, and cohorts, compatibility, data access, and more. It also provides data retention, supports SSO SAML, exports to data lakes, pricing models, analytics stack, and more.
Key facts about PostHog
- Founded Year: 2020
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $194M
- Employee Count: 202 as on Apr 30, 2026
- Investors: Twenty Two Ventures, Google Ventures and 12 Others
- Latest Funding Round: Series E, Sep 29, 2025, $*****
- Highlight: Editors' Pick
2. Every
Provider of financial, HR, and payroll management services. It offers solutions for banking institutions. It enables them to create accounts and issue virtual debit cards to its employees. It also provides quick bank transfers and account syncing solutions.
Key facts about Every
- Founded Year: 2021
- Location: San Francisco (United States)
- Stage: Series A
- Total Funding till date: $32M
- Employee Count: 431 as on Apr 30, 2026
- Investors: Redpoint Ventures, Base10 Partners and 3 Others
- Latest Funding Round: Series A, Sep 2024, $*****
- Highlight: Editors' Pick
3. GoWit
Provider of a platform for retail media advertising and monetization. The platform empowers retailers, brands, agencies, and publishers to monetize advertisements. It supports online and offline channels. The platform offers tools for campaign management, data activation, and full-funnel activation. It provides options for self-service or managed campaign execution.
Key facts about GoWit
- Founded Year: 2019
- Location: Newark (United States)
- Stage: Seed
- Total Funding till date: $2.3M
- Employee Count: 32 as on Apr 30, 2026
- Investors: APY Ventures, Formus Capital and 6 Others
- Latest Funding Round: Seed, Nov 17, 2025, $*****
4. Letter AI
AI-powered sales enablement platform. It provides content and training for sales representatives to close deals. It leverages AI technology to create interactive and personalized enablement materials, empowering field teams and customers.
Key facts about Letter AI
- Founded Year: 2023
- Location: Chicago (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $51.1M
- Employee Count: 48 as on Apr 30, 2026
- Investors: Y Combinator, Battery Ventures and 5 Others
- Latest Funding Round: Series B, Feb 24, 2026, $*****
5. Praso
B2B e-distributor platform offering groceries. It offers a range of products including beverages, spices, meat, grains, dairy products, cooking oil, flour, and more. It also offers cleaning supplies and stationery.
Key facts about Praso
- Founded Year: 2021
- Location: Sao Paulo (Brazil)
- Stage: Series A
- Total Funding till date: $14.5M
- Employee Count: 170 as on Apr 30, 2026
- Investors: Base Partners, Formus Capital and 4 Others
- Latest Funding Round: Series A, Aug 30, 2023, $*****
- Highlight: Editors' Pick
Formus Capital's Year-on-Year Investment Trends
Formus Capital has invested in 11 companies over the last 3 years, with an average of 4 new investments annually in the last 3 years. In 2025, it made 3 investments, while as of Feb 2026, it has made 2 investments in this year. Its most recent first time investment was in Sapiom and most recent follow-on round was in Letter AI.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 2 | 1 | 3 |
2024 | 4 | 0 | 4 |
2023 | 4 | 0 | 4 |
Formus Capital's Investments by Stage
Formus Capital has made 6 investments in Seed stage with an average round size of $8.34M, 4 investments in Series A stage with an average round size of $11.7M and 1 investment in Series D stage with an average round size of $70M.Stage of entry | No. of Investments |
|---|---|
Seed | 6 |
Series A | 4 |
Series D | 1 |
Note: We have considered here, only first round of investments
Formus Capital's Investments by Sector
Formus Capital has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Retail, Artificial Intelligence - Industry Applications and Enterprise Infrastructure. Notably, it has invested in 11 Enterprise (B2B) companies, 11 Tech companies, 10 Software companies and at least 7 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 10 |
High Tech | 4 |
Retail | 3 |
Artificial Intelligence - Industry Applications | 2 |
Enterprise Infrastructure | 2 |
Others | 5 |
Note: We have considered here, only first round of investments
Formus Capital's Investments by Geography
Formus Capital has made most investments in United States (8), followed by Brazil where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 8 |
Brazil | 1 |
India | 1 |
Turkey | 1 |
Note: We have considered here, only first round of investments
Formus Capital's recent investments
Formus Capital has made 2 investments in 2026 so far - Letter AI and Sapiom.Here are the most recent investments by Formus Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 24, 2026 | United States | Series B | 1716 | [+4] | |
Feb 05, 2026 | India | Seed | 2912 | [+7] | |
Nov 17, 2025 | United States | Seed | 9736 | [+2] | |
Oct 21, 2025 | United States | Series A | 2257 | [+4] | |
Jun 09, 2025 | United States | Series D | 8140 | [+3] |
Unicorns in Formus Capital's Portfolio
Formus Capital has 1 unicorn in its portfolio - PostHog. The most recent unicorn in their portfolio is PostHog which became a unicorn in 2025.Here is a list of unicorns in Formus Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
63 | Cloud based product analytics tools | 2020 | San Francisco | Series E | tgqbmhv |
Team profile of Formus Capital
Formus Capital has a team of 6 members including 2 Partners and 1 Principal located in United Kingdom and United States. Formus Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Formus Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | ||
Partner | London | - | ||
Principal | San Francisco | - |
Co-investors of Formus Capital
Over the past 3 years, 66 investors have co-invested in Formus Capital's portfolio companies. This includes funds and angels.
- Invested before Formus Capital: Y Combinator, Google Ventures and 8 others have invested in rounds before Formus Capital. There are 3 companies where Y Combinator has invested before Formus Capital and 1 company where Google Ventures has invested before Formus Capital.
- Top Co-investors of Formus Capital: 53 investors entered a company along with Formus Capital. These include investors like Soma Capital (2 companies).
- Invested after Formus Capital: A total of 3 investors have invested in Formus Capital's portfolio after their investments. Top Investors include Redpoint Ventures (1 company), Nuwa Capital (1 company) and Battery Ventures (1 company).
Recent News related to Formus Capital
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GoWit Secures Strategic Investment Led by Nuwa Capital to Drive the Next Era of AI Retail Media in EMEABusiness Wire•Nov 17, 2025•Formus Capital, GoWit, APY Ventures, Nuwa Capital and 1 other
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PostHog Secures $70M to Enhance Software Development ToolsSiliconAngle•Jun 17, 2025•PostHog, Stripe, Google Ventures, Formus Capital and 1 other
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Kalder raises $10.5M to transform everyday brands into fintech innovatorsintelligence360•Dec 03, 2024•, Javelin Venture Partners, 8VC, GingerBread Capital and 2 others
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Global Reward and Loyalty Platform Kalder received an investment of 10.5 million dollarsWebrazzi•Nov 19, 2024•, 8VC, Human Capital, GingerBread Capital and 9 others
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Every.io raises $22.5 million to develop new products for startup backend supportCui Niuhui•Sep 13, 2024•Every, Redpoint Ventures, Y Combinator, Base10 Partners and 2 others
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AdTech specialist GoWit follows funding round with launch of free self-service retail media integrationRetail Technology Innovation Hub•Aug 28, 2024•GoWit, Formus Capital, APY Ventures, Mindvest
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Advertising platform GoWit raises $1.3 millionWebrazzi•Aug 12, 2024•GoWit, Diffusion Capital Partners, Formus Capital, APY Ventures and 2 others
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GenAI Startup Zingly Secured $10M to Upend CX Waiting on HoldStartupHub.ai•Jun 05, 2024•Zingly, Burst Capital, Firebolt Ventures, Array Ventures and 7 others
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VectorShift Raises $3M in Seed FundingFinSMEs•Feb 22, 2024•VectorShift, 1984 Ventures, Defy, Formus Capital and 16 others
