Firms

Initialized Capital

signal.nfx.com

Initialized Capital is a seed stage venture capital firm backing founders across enterprise software, AI, infrastructure, financial technology, healthcare, sustainability, hard technology, consumer businesses and crypto. Its team combines investors with experience in engineering, entrepreneurship, design, communications, talent and company operations. The firm helps early stage businesses develop products and teams, communicate their ideas, raise subsequent financing and navigate the venture market, while continuing to support founders as their companies grow. Initialized operates from San Francisco and New York and invests in both software companies and businesses developing technology for the physical world.

Founded: —
Type: Venture capital

Funds9

Initialized VII L.P.2026-09-182026-09-18—
USD150M offered /USD114.35M sold /USD35.65Mremaining at SECfiling; firstsale2025-09-30,26investors. No finalclose established; separateAssociatesfeeder notadded.
Fund VI2021-12-142021-12-14$530M
Single oversubscribed corefundclose, earliest-stage newinvestments. USD700M headlinecombines distinctUSD170Mopportunityvehicle.
Initialized Fund VI2021-12-142021-12-14$530M
USD 530m, single oversubscribed close [Official announcement](https://blog.initialized.com/2021/12/announcing-initialized-fund-vi/), 2021-12-14, for new investments at the earliest stage.
Initialized Opportunity Fund2021-12-142021-12-14$170M
USD 170m, closed Same 2021-12-14 official announcement; portfolio follow-ons. USD 700m is the combined capital across the two vehicles.
Opportunity vehicle (2021)2021-12-142021-12-14$170M
Closedportfoliofollow-onsvehicle, separatefromUSD530McoreVI.
Fund V2020-08-142020-08-14$230M
Historicalseedfund raised; USD1–4Mchecks historicalnotcurrentpolicy.
Initialized Fund V2020-08-142020-08-14$230M
USD 230m raised [Official announcement](https://blog.initialized.com/2020/08/announcing-initialized-fund-v-the-honeybadgers-are-back-with-a-230m/), 2020-08-14. Historical USD 1–4m check sweet spot, not a proven current mandate.
Fund IV2018-10-022018-10-02$225M
Singleoversubscribed historicalearly-stage close.

Team

Operations and support

Abdul LyPartner

Becca GraffChief of Staff

Breanna RossAdministrative Assistant

Brett GibsonManaging Partner

Chi AnController

Cyndi ReseburgHead of Communications

Esaul DelgadilloFund Controller

Garry TanFounder & Board Partner

Kim-Mai CutlerPartner

Maeve Kelly BoddenAdministrative Assistant

Marinda LukChief Financial Officer

Mitesh SinghAI Engineer

Robert LindseyHead of Finance Operations

Tiffany FooHead of Talent

Vivian ChavesHead of Community

Zoe PerretPartner

Investments

$12M2026-04-16	Sabi	Khosla Ventures, Accel, Initialized Capital, Kevin Weil, Ascend
$10M2022-05-03	Ava	Khosla Ventures, Initialized Capital, Lerer Hippeau, Ring Capital, Enable Ventures
$4M2020-12-10	Ava	Khosla Ventures, Day One Ventures, Initialized Capital
$4M2026-04-22	10x Science	Initialized Capital, Y Combinator, Civilization Ventures
$9M2025-12-04	Guide Labs	Y Combinator, Pioneer Fund, Initialized Capital, Tectonic Ventures, E14 Fund
$54M2025-12-03	PermitFlow	Y Combinator, Kleiner Perkins, Accel, Initialized Capital, Felicis, Altos Ventures Management, Inc., Altos Ventures
$15M2025-11-20	Automat	Khosla Ventures, Y Combinator, Initialized Capital, Felicis
$13M2025-08-20	Garage	Y Combinator, Initialized Capital, FJ Labs, Wayfinder Ventures, Infinity Ventures, Benchstrength
$4M2025-07-09	ZeroEntropy	Y Combinator, Transpose Platform, Initialized Capital, Kima Ventures, Founders Future
$4M2025-07-09	Entropy	Y Combinator, Transpose Platform, Initialized Capital, Kima Ventures, Founders Future, Front Ventures
$4M2025-07-09	ZeroEntropy	Y Combinator, Transpose Platform, Initialized Capital
$6M2025-06-04	Rosebud AI	Avenir, Fuel Ventures, Bessemer Venture Partners, Initialized Capital, Lightspeed Venture Partners, Avenir Growth
$11M2025-05-15	Adyton	Khosla Ventures, Venrock, Alumni Ventures, Liquid 2 Ventures, Initialized Capital, Leo Capital, Kindred Ventures
$5M2025-02-27	Deepnight	Initialized Capital, Y Combinator
$5M2025	Deepnight	Y Combinator, Initialized Capital
$4M2025	ZeroEntropy	Y Combinator, Transpose Platform, Initialized Capital
$30M2025	Arena	Founders Fund, Garuda Ventures, Shield Capital, Goldcrest Capital, Fifth Down Capital, Initialized Capital
$30M2025	Arena	Founders Fund, Initialized Capital, Garuda Ventures, Shield Capital, Goldcrest Capital, Fifth Down Capital
$40M2024-08-20	AstroForge	Y Combinator, 468 Capital, Initialized Capital, Uncorrelated Ventures, Nova Threshold
$31M2024-02-21	PermitFlow	Y Combinator, Kleiner Perkins, Initialized Capital, Felicis, Altos Ventures Management, Inc., Altos Ventures
$6M2024-02-06	Stellar Sleep	Y Combinator, Goodwater Capital, Swift Ventures, Initialized Capital, Scrum Ventures, Moonfire Ventures
$4M2024	Superlog	Y Combinator, First Round Capital, Initialized Capital, First Round
$30M2024	Withco	Founders Fund, NFX, Canaan Partners, Initialized Capital
$4M2023-11-06	Coperniq	Y Combinator, Initialized Capital
$3M2023-08-03	Datasaur	Y Combinator, OpenAI Startup Fund, Initialized Capital
$3M2023-06-27	0pass	Y Combinator, BoxGroup, Initialized Capital, Angeles Investors, 645 Ventures
$4M2023	Coperniq	Y Combinator, Initialized Capital
$30M2022-09-08	Tigereye	Y Combinator, Sterling Road, Initialized Capital, SV Angel, N47
$40M2022-06-28	Eclipse Foods	Y Combinator, Forerunner Ventures, Gaingels, Sozo Ventures, Initialized Capital, SV Angel
$40M2022-05-23	Torch	Y Combinator, 137 Ventures, Initialized Capital
$17M2022-02-24	Depict.ai	Y Combinator, EQT Ventures, Northzone, Tiger Global Management, LLC, Initialized Capital
$30M2022-02	Clipboard	Sequoia, Y Combinator, Caffeinated Capital, Initialized Capital, Sequoia Capital
$100M2022-01-27	CoinTracker	General Catalyst, Accel, Kraken Ventures, Initialized Capital, Coinbase Ventures, Intuit Ventures
$9M2021-12-07	Jupe	Y Combinator, Initialized Capital
$17M2021-11-18	Fourthwall	Lightspeed, Seven Seven Six, Initialized Capital
$20M2021-08-18	Stacker	Y Combinator, Andreessen Horowitz, Initialized Capital, Pentech Ventures LLP
$20M2021-08-18	Stacker	Y Combinator, Initialized Capital, Pentech Ventures LLP, Jennifer Li
$6M2021-04-02	Curri	Y Combinator, Initialized Capital, Brick & Mortar Ventures, Rainfall Ventures
$—2021-03-18	The Shelf	General Catalyst, 1984 Ventures, GGV Capital, Soma Capital, Initialized Capital, Founders' Co-op
$1M2021-01-26	Stacker	Y Combinator, Pioneer Fund, Initialized Capital
$20M2021	Stacker	Y Combinator, Andreessen Horowitz, Initialized Capital, Pentech Ventures LLP
$47M2020-11-02	Flock Safety	Founders Fund, John Luttig, Y Combinator, Initialized Capital, Axon Partners Group, Meritech Capital, Bedrock
$35M2020-10-07	Shogun	Y Combinator, VMG Partners, Accel, Initialized Capital
$6M2020-09-17	Narrator	Y Combinator, Initialized Capital, Flybridge Capital Partners
$1M2020-09-01	Stacker	Y Combinator, Pioneer Fund, Initialized Capital
$11M2020-08-11	BodyPort	Y Combinator, Playground Global, Initialized Capital, Boehringer Ingelheim Venture Fund
$12M2020-07-21	Shelf Engine	Bain Capital, Foundation Capital, 1984 Ventures, GGV Capital, Initialized Capital, Correlation Ventures
$20M2020-06-25	HelloOffice	Founders Fund, Initialized Capital, The House Fund, Point 72, SaaStr Fund
$20M2020-03-05	Empower	Sequoia, Defy, Icon Ventures, Initialized Capital, Nubank
$10M2020-02-20	Shogun	Y Combinator, VMG Partners, Initialized Capital
$59M2020-01-22	Front	Sequoia, The Slack Fund, Anthos Capital, Initialized Capital, Jeff Clavier
$6M2020	Narrator	Y Combinator, Initialized Capital, Flybridge Capital Partners
$4M2019-11-19	TRM Labs	Y Combinator, PayPal Ventures, Initialized Capital, Blockchain Capital
$10M2019-10-09	Papa	Y Combinator, Canaan Partners, Initialized Capital, Sound Ventures, Pivotal Ventures
$50M2019-08-29	Long Term Stock Exchange	Founders Fund, Andreessen Horowitz, Y Combinator, Initialized Capital, Obvious Ventures
$35M2019-07-25	Standard AI	Y Combinator, EQT Ventures, CRV, Initialized Capital
$88M2019-03-20	Ro	General Catalyst, Slow Ventures, Benchmark, Y Combinator, BoxGroup, Initialized Capital
$10M2019-03-12	Truepill	Y Combinator, Initialized Capital, Sound Ventures, Tuesday Capital
$40M2018-11-15	Standard AI	Y Combinator, CRV, Initialized Capital, Draper Associates
$—2018-09-20	CoinBundle	Y Combinator, Liquid 2 Ventures, Amino Capital, FundersClub, Initialized Capital, Tuesday Capital
$10M2018-02-28	Triplebyte	Y Combinator, Caffeinated Capital, Initialized Capital
$3M2018-02-27	Seneca Systems	Y Combinator, Cowboy Ventures, Initialized Capital, Govtech Fund
$5M2018	Zentail	Y Combinator, FundersClub, Initialized Capital
$5M2017-11-21	sendwithus	Y Combinator, Baseline Ventures, Initialized Capital, SV Angel, Maiden Lane
$15M2017-10-05	Gobble	Khosla Ventures, Initialized Capital, Trinity Ventures
$—2017-03-07	Instacart	Sequoia, FundersClub, Kleiner Perkins, Valiant Capital, Khosla Ventures, Thrive Capital, Sequoia Capital, Comcast Corporation, Initialized Capital
$1M2016-12-01	Workramp	Y Combinator, Haystack, Liquid 2 Ventures, Initialized Capital, Susa Ventures
$10M2016-07-27	LeadGenius	Y Combinator, Sierra Ventures, BEE Partners, FundersClub, Fuel Ventures, Initialized Capital
$2M2014-07-30	JuiceBox Games	General Catalyst, Maveron, Index Ventures, Initialized Capital, Zynga
$5M2014-06-11	Weave	Y Combinator, Fuel Ventures, Homebrew, Initialized Capital, SV Angel, A.Capital Ventures
$3MUnknown date	SpecCheck	Y Combinator, Initialized Capital
$3MUnknown date	Speccheck	Y Combinator, Initialized Capital
$3MUnknown date	Bristle	Y Combinator, Initialized Capital
$45MUnknown date	Rippling	Y Combinator, Kleiner Perkins, Threshold Ventures, Initialized Capital
$—Unknown date	Truepill	Y Combinator, Initialized Capital
$25MUnknown date	Truepill	Y Combinator, Initialized Capital, Sound Ventures, Optum Ventures
$4MUnknown date	Lingo.dev	Y Combinator, Transpose Platform, Initialized Capital
$13MUnknown date	Garage	Y Combinator, Initialized Capital, FJ Labs, Wayfinder Ventures, Infinity Ventures, Benchstrength
$11MUnknown date	Mindstate	Initialized Capital, Y Combinator, Metaplanet, Day One Ventures
$10MUnknown date	TerrAvion	Y Combinator, Initialized Capital
$4MUnknown date	Cogram	Y Combinator, Initialized Capital
$9MUnknown date	Guide Labs	Y Combinator, Pioneer Fund, LombardStreet Ventures, Initialized Capital, Tectonic Ventures, E14 Fund
$5MUnknown date	Apportable	Y Combinator, Danhua Capital, Initialized Capital
$7MUnknown date	Enhanced Radar	Y Combinator, Initialized Capital, Decisive Point, United Airlines Ventures
$150MUnknown date	Papa	Y Combinator, Seven Seven Six, Canaan Partners, Tiger Global Management, LLC, TCG, Initialized Capital
$25MUnknown date	Mezmo	Y Combinator, Emergence Capital, Initialized Capital, Top Tier Capital Partners
$4MUnknown date	Lingo	Y Combinator, Initialized Capital
$—Unknown date	AptDeco	Y Combinator, Soma Capital, Comcast Corporation, Initialized Capital, Great Oaks Venture Capital, HearstLab
$3MUnknown date	Kapa	Y Combinator, Initialized Capital
$86MUnknown date	Standard AI	Y Combinator, EQT Ventures, CRV, Initialized Capital
$—Unknown date	Orbio Earth	Y Combinator, Initialized Capital
$9MUnknown date	BERBIX	Y Combinator, Fika Ventures, Initialized Capital, Mayfield Fund
$3MUnknown date	Athelas	Sequoia, Liquid 2 Ventures, Initialized Capital
$15MUnknown date	Automat	Khosla Ventures, Y Combinator, K5 Global, Initialized Capital, Felicis
$3MUnknown date	Automat	Khosla Ventures, Initialized Capital
$800KUnknown date	Shelf Engine	General Catalyst, Initialized Capital
$176MUnknown date	Ro	General Catalyst, SignalFire, Canaan Partners, BoxGroup, Initialized Capital, FirstMark Capital
$50MUnknown date	Long Term Stock Exchange	Founders Fund, Obvious Ventures, Andreessen Horowitz, Y Combinator, Initialized Capital
$30M2024	withco	Founders Fund, NFX, Canaan Partners, Initialized Capital

team@apexlogos.aiyesterday
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities. Fund size and stage strategy | Vehicle / metric | Amount and status | Dated evidence and interpretation | | --- | --- | --- | | Initialized VII L.P., organized 2025 | USD 150m total offering; USD 114.35m sold; USD 35.65m remaining | [SEC Form D/A](https://www.sec.gov/Archives/edgar/data/2086432/000208643226000002/xslFormDX01/primary_doc.xml), filed/signed **2026-09-18**, first sale **2025-09-30**, 26 investors. Brett Gibson is managing member of the GP. Latest-known newer vehicle found. Sold amount is fundraising reported as of filing, not a final-close announcement; offering amount is not committed capital already raised. | | Fund VI core | USD 530m, single oversubscribed close | [Official announcement](https://blog.initialized.com/2021/12/announcing-initialized-fund-vi/), **2021-12-14**, for new investments at the earliest stage. | | Opportunity vehicle announced with VI | USD 170m, closed | Same **2021-12-14** official announcement; portfolio follow-ons. USD 700m is the combined capital across the two vehicles. | | Firm AUM at VI announcement | More than USD 3.2bn | Same **2021-12-14** source. Historical AUM, not a fund size, current cash budget or check range. No reliable current AUM retrieved: home-page animated counters extract as zero. | | Fund V core seed | USD 230m raised | [Official announcement](https://blog.initialized.com/2020/08/announcing-initialized-fund-v-the-honeybadgers-are-back-with-a-230m/), **2020-08-14**. Historical USD 1–4m check sweet spot, not a proven current mandate. | | Fund IV early-stage | USD 225m, single oversubscribed close | [Official announcement](https://blog.initialized.com/2018/10/initializing-fund-iv-were-proud-to-announce-that-were/), **2018-10-02**. | Current [official home page](https://initialized.com/) (undated) explicitly describes support for **seed-stage** founders across enterprise SaaS, sustainability, health, hard tech, AI, infrastructure, consumer and crypto. The 2021 VI announcement describes new earliest-stage investments and a distinct portfolio follow-on vehicle. Pre-seed appears in Signal's individual profile; seed is directly supported by current official language. Historical later rounds in the baseline show follow-on participation, not a blanket current growth-stage mandate. No current universal check range or dedicated neurotech fund was verified. Funds recorded in Adex after this review: | Fund | Disclosed amount | Announcement / filing date | | --- | --- | --- | | Fund IV | USD 225000000 | 2018-10-02 | | Initialized Fund IV | USD 225000000 | 2018-10-02 | | Fund V | USD 230000000 | 2020-08-14 | | Initialized Fund V | USD 230000000 | 2020-08-14 | | Fund VI | USD 530000000 | 2021-12-14 | | Initialized Fund VI | USD 530000000 | 2021-12-14 | | Initialized Opportunity Fund | USD 170000000 | 2021-12-14 | | Opportunity vehicle (2021) | USD 170000000 | 2021-12-14 | | Initialized VII L.P. | Undisclosed / unverified | 2026-09-18 |
team@apexlogos.aiyesterday
Match research 2026-10-06 / InitializedCapital / sha256:ef591c389de6d038befc7b22b137ff8b45c14edf64d81d049d492a4158d00fde / part 2 of 2 Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats. **Sabi — verified direct BCI portfolio relationship.** Initialized's [official companies page](https://initialized.com/companies) includes a Sabi portfolio logo (undated, accessed 2026-10-06), corroborating the firm relationship in the baseline. [WIRED's report](https://www.wired.com/story/this-beanie-is-designed-to-read-your-thoughts/), **2026-04-16**, identifies Sabi as developing an EEG thought-to-text wearable. Product performance and shipping schedule remain company aspirations, not demonstrated outcomes. WIRED confirms Khosla Ventures investment but does not itself identify Initialized. The baseline cites CEO Rahul Chhabra's [launch post](https://x.com/rahulchhabra07/status/2044781153559929199), **2026-04-16**, naming Initialized alongside Khosla Ventures, Accel and Kevin Weil; direct X retrieval failed in this pass. Firm portfolio inclusion verifies relationship, while exact entry timing and stage are supported less strongly by the saved founder-post evidence. Initialized's check, lead status and named investing vehicle were not disclosed in accessible primary evidence. The snapshot stores **USD 12m** as Sabi's round amount, but its own embedded evidence says that comes from a secondary reported estimate and that primary sources do not disclose the full round total. Preserve the relationship while treating round total as **unconfirmed**, rather than propagating USD 12m as a settled fact. Do not interpret a Khosla check or another investor's amount as Initialized's investment. **Mindstate — verified adjacent neuroscience therapeutics, not a neural-interface investment.** Initialized led its 2022 seed as detailed above. Drug design modifies psychoactive effects using molecular pharmacology; no BCI, neural recording or stimulation hardware investment is established by this evidence. Max Hodak's separate angel participation does not imply Neuralink invested, nor does it make Mindstate a BCI company. Likewise, the baseline's Stellar Sleep and Rosebud AI are behavioral/digital mental-health leads, not automatically direct neurotech; Bodyport cardiac sensing and Athelas blood testing are also not neural technology by virtue of being medical devices. ## Conflicts, missing information and later Adex review 1. Record VII as a newer **fundraising disclosure**, with USD 114.35m sold and USD 150m offered as of 2026-09-18. No final close or newer VIII announcement was verified; do not assert the target is fully closed. Do not combine the separately named VII Associates feeder vehicle or its offering with VII without entity-level reconciliation. 2. Retain VI's USD 530m core / USD 170m opportunity distinction and historical AUM date. Signal's USD 1m fund-size claim conflicts with primary disclosure; its individual check range remains unverified as current firm policy. 3. Match/BioTech Seed membership alone understates verified hard-tech breadth but still does not establish a specialized BCI mandate. Sabi supplies concrete direct BCI evidence; retain its attribution and round-total caveat separately. 4. Review Sabi's baseline lead/date/stage fields against accessible founder or firm announcements before treating them as fully confirmed. No performance validation, shipment confirmation or Initialized check amount was found. 5. Add/review primary-source leads Valar Atomics and the dated 10x Science announcement; review Deepnight's lead role and avoid assigning a stage solely from aggregation. 6. Investigate baseline duplicate company/round IDs before any consolidation. Neither all 99 baseline participations nor every current portfolio company was independently audited in this focused research. Portfolio logos confirm a relationship but not dates, amounts, a current holding, or a particular fund's participation. All above URLs were accessed 2026-10-06. Undated sites use that access date; publication/filing dates are attached where available. Saved research is intended for later review only.
team@apexlogos.aiyesterday
Match research 2026-10-06 / InitializedCapital / sha256:ef591c389de6d038befc7b22b137ff8b45c14edf64d81d049d492a4158d00fde / part 1 of 2 Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats. # Initialized Capital - Exact Adex ID: `InitializedCapital` - Canonical Adex URL: https://adex.page/firms/InitializedCapital - Official website: https://initialized.com/ - Research date / all source access dates: **2026-10-06**. - Status: complete research for later Adex review; no database changes made. Initialized is a broad seed investor with independently supported hard-tech investments and a verified portfolio relationship with **Sabi**, a direct noninvasive brain-computer-interface developer. Its latest-known fundraising disclosure is Initialized VII L.P.'s September 2026 filing: **USD 114.35 million sold against a USD 150 million offering**, which does not establish a final close. The familiar 2021 USD 700 million announcement combines two separate vehicles, rather than describing a single USD 700 million core fund. ## Starting evidence: Adex and NFX Signal The exact-ID snapshot `data/research/_sources/InitializedCapital.adex.json`, retrieved 2026-10-06, contains one firm record, no firm description, no fund/check-size values, and 99 investment participations. Its Match rationale is membership in Signal's [BioTech Seed ranking](https://signal.nfx.com/investor-lists/top-biotech-seed-investors), explicitly caveated as insufficient to prove BCI specialization. Named leads include Sabi, AstroForge, Deepnight, Bodyport, Athelas and Mindstate. Many transaction entries derive from Goldilocks aggregation and must not be treated as primary evidence. Repeated entries include ZeroEntropy/Entropy, Guide Labs, Garage, Stacker and SpecCheck/Speccheck; those are potential duplicates requiring review, not distinct investments established here. The [Signal firm URL](https://signal.nfx.com/firms/initialized-capital) was opened directly; extraction varied between an indexed page and a JavaScript shell, so no reliable comprehensive firm table was obtained. The related [Brett Gibson profile](https://signal.nfx.com/investors/brett-gibson_1) was directly readable: it identifies him as Initialized's managing partner, lists pre-seed and seed enterprise/AI/infrastructure categories, a USD 1–6 million investment range and USD 3 million sweet spot. It also displays a **USD 1 million current fund size**, inconsistent with primary fund disclosures and unsuitable for adoption. Investment detail is partly sign-in gated. These are undated, potentially stale profile claims, not verified current firm commitments or personal-versus-fund attribution. ## Fund size and stage strategy | Vehicle / metric | Amount and status | Dated evidence and interpretation | | --- | --- | --- | | Initialized VII L.P., organized 2025 | USD 150m total offering; USD 114.35m sold; USD 35.65m remaining | [SEC Form D/A](https://www.sec.gov/Archives/edgar/data/2086432/000208643226000002/xslFormDX01/primary_doc.xml), filed/signed **2026-09-18**, first sale **2025-09-30**, 26 investors. Brett Gibson is managing member of the GP. Latest-known newer vehicle found. Sold amount is fundraising reported as of filing, not a final-close announcement; offering amount is not committed capital already raised. | | Fund VI core | USD 530m, single oversubscribed close | [Official announcement](https://blog.initialized.com/2021/12/announcing-initialized-fund-vi/), **2021-12-14**, for new investments at the earliest stage. | | Opportunity vehicle announced with VI | USD 170m, closed | Same **2021-12-14** official announcement; portfolio follow-ons. USD 700m is the combined capital across the two vehicles. | | Firm AUM at VI announcement | More than USD 3.2bn | Same **2021-12-14** source. Historical AUM, not a fund size, current cash budget or check range. No reliable current AUM retrieved: home-page animated counters extract as zero. | | Fund V core seed | USD 230m raised | [Official announcement](https://blog.initialized.com/2020/08/announcing-initialized-fund-v-the-honeybadgers-are-back-with-a-230m/), **2020-08-14**. Historical USD 1–4m check sweet spot, not a proven current mandate. | | Fund IV early-stage | USD 225m, single oversubscribed close | [Official announcement](https://blog.initialized.com/2018/10/initializing-fund-iv-were-proud-to-announce-that-were/), **2018-10-02**. | Current [official home page](https://initialized.com/) (undated) explicitly describes support for **seed-stage** founders across enterprise SaaS, sustainability, health, hard tech, AI, infrastructure, consumer and crypto. The 2021 VI announcement describes new earliest-stage investments and a distinct portfolio follow-on vehicle. Pre-seed appears in Signal's individual profile; seed is directly supported by current official language. Historical later rounds in the baseline show follow-on participation, not a blanket current growth-stage mandate. No current universal check range or dedicated neurotech fund was verified. ## Named previous deep-tech investments Round amounts below are company financing totals, never Initialized's disclosed individual checks. These examples are substantive rather than an exhaustive portfolio audit. | Company | Technology rationale | Firm attribution, round/date and sources | | --- | --- | --- | | **AstroForge** | Spacecraft, autonomous navigation and in-space resource refining for asteroid mining; substantial aerospace/materials engineering risk. | Initialized's [investment article](https://blog.initialized.com/2022/05/our-13m-investment-t-make-asteroid-mining-a-reality/), **2022-05-26**, directly confirms the investment and technology. USD 13m seed lead corroborated by [Space.com](https://www.space.com/asteroid-mining-startup-astroforge-2023-launch), **2022-05-26**. Baseline's USD 40m 2024 Series A is a separate round and was not reverified here. | | **Deepnight** | Proprietary computational imaging combines AI and commodity CMOS sensors for low-light/night vision. | [Company-issued release](https://www.globenewswire.com/news-release/2025/02/27/3034141/0/en/Deepnight-Raises-5-5M-To-Disrupt-Night-Vision-Industry-Using-AI.html), **2025-02-27**, confirms **USD 5.5m financing led by Initialized**; the release does not explicitly label its stage. [Official Initialized thesis](https://blog.initialized.com/2025/02/partnering-with-deepnight-to-revolutionize-night-vision-with-ai/), **2025-02-24**, independently confirms firm attribution. Performance/cost claims remain investee/investor statements. | | **Valar Atomics** | High-temperature nuclear-reactor engineering and industrial energy/fuel production. | [Official Initialized investment announcement](https://blog.initialized.com/2025/02/initialized-backs-valar-atomics-to-build-nuclear-gigasites/), **2025-02-19**, explicitly confirms participation in **USD 18m seed** alongside named co-investors. No Initialized check or lead role established. Deployment/prototype claims are investor statements, not independently audited technical milestones. | | **10x Science** | Domain-specific AI interprets experimental mass-spectrometry data to characterize protein therapeutics at molecular level; scientific platform rather than ordinary workflow SaaS. | [Company-issued release](https://www.prnewswire.com/news-releases/10x-science-raises-4-8m-seed-to-build-ai-that-understands-proteins-at-the-molecular-level-302750622.html), **2026-04-22**, confirms closed **USD 4.8m seed led by Initialized**. [Firm article](https://blog.initialized.com/2026/04/10x-science-the-founders-who-built-the-field-are-now-building-the-platform/), same date, corroborates attribution and scientific rationale. General neurodegeneration applicability does not make this direct neurotech. | | **Mindstate Design Labs** | Computational psychopharmacology and experimentally developed psychoactive therapeutics; neuroscience/biotech engineering. | **USD 11.5m seed announced 2022-02-10**, led by Initialized per [Technical.ly](https://technical.ly/2022/02/11/mindstate-design-labs-seed-round-psychedelics/), published **2022-02-11**. Founder [signed July 2022 statement](https://psychedelicalpha.com/wp-content/uploads/2022/07/2022.7.14_DiNardo_Statement.pdf) confirms Initialized among investors. Current [company site](https://www.mindstate.design/) (undated) explains molecular design and its Osmanthus platform. This is adjacent neuroscience drug development, separately classified below. | ## Previous neurotech investments and boundaries
team@apexlogos.ai22 days ago
MATCH

Funds9

Team

Operations and support

Co-investing

Investments