Adeyemi Ajao

Adeyemi Ajao is the Co-founder and Managing Partner of Base10 Partners, a prominent venture capital firm based in San Francisco. The firm is distinguished by its investment thesis, "Automation for the Real Economy," focusing on companies that leverage automation to transform traditional industries such as manufacturing, logistics, retail, and healthcare. Ajao's background as a successful entrepreneur, having co-founded companies like Tuenti (acquired by Telefonica) and Cabify, provides him with a unique operator-investor perspective. This experience is central to Base10's approach, enabling them to deeply understand the challenges and opportunities faced by founders in these sectors.

Base10 Partners invests across a broad spectrum of stages, from seed to growth, indicating a flexible approach to company development. The firm has demonstrated significant fundraising success, closing multiple substantial funds. For instance, in 2021, they announced the close of their second fund, Fund II, at $460 million, alongside a dedicated $250 million "Advancement Fund." This Advancement Fund is particularly noteworthy for its commitment to investing in companies led by diverse founders and its pledge to donate 50% of its carried interest to endowments at Historically Black Colleges and Universities (HBCUs), highlighting a strong social impact component to their investment strategy.

More recently, in 2023, Base10 continued its expansion by closing Fund III with $400 million and a new Growth Fund also with $400 million, bringing their total assets under management to over $2 billion. This substantial capital base allows Base10 to deploy significant resources into its portfolio companies, with typical first checks ranging from approximately $2 million for early-stage seed rounds to around $20 million for leading Series A or B investments. Adeyemi Ajao and Base10 Partners are recognized for their strategic focus on automation, their commitment to diversity, and their ability to back companies that are poised to reshape foundational industries through technological innovation.