Cleo Capital

Cleo Capital is a San Francisco-based venture capital firm founded by Sarah Kunst, specializing in early-stage investments, primarily at the pre-seed and seed stages. The firm distinguishes itself through a unique "LP-as-a-Service" model, where its limited partners are often accomplished founders, executives, and operators. This structure allows Cleo Capital to provide its portfolio companies with not only financial capital but also strategic guidance, mentorship, and access to a robust network, significantly enhancing the value proposition beyond traditional venture funding.

The firm's investment thesis spans several key sectors, including the future of work, fintech, consumer technology, and enterprise software. Cleo Capital seeks out disruptive startups with strong founding teams and innovative solutions addressing significant market opportunities. Their approach emphasizes deep engagement with portfolio companies, leveraging the collective expertise of their LPs to help startups navigate challenges and accelerate growth.

Cleo Capital has demonstrated consistent growth in its fundraising efforts, reflecting increasing investor confidence in its model and leadership. The firm successfully raised its inaugural fund, Cleo Capital Fund I, with $10 million, followed by Cleo Capital Fund II at $15 million. Most recently, they closed Cleo Capital Fund III at $20 million, indicating a steady increase in deployable capital. Typical first checks from Cleo Capital range from $250,000 to $750,000, targeting companies that are still in their nascent stages but show strong potential for scalability and market impact. This strategic deployment of capital, combined with their value-add network, positions Cleo Capital as a significant player in the early-stage venture landscape.