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Costanoa Ventures

North America, California, United States, Palo Alto

Description

Costanoa Ventures is a prominent venture capital firm based in Palo Alto, California, specializing in early-stage investments within the enterprise technology sector. The firm primarily targets Formation, Seed, and Series A rounds, focusing on companies that are poised to redefine business operations through innovative software, data infrastructure, and fintech solutions. Their investment philosophy centers on partnering with visionary founders from the earliest stages, providing not just capital but also strategic guidance and access to a robust network.

The firm has a strong track record of backing companies that leverage data and artificial intelligence to create significant market advantages. Costanoa Ventures seeks out disruptive technologies and business models that address critical enterprise needs, demonstrating a keen understanding of the evolving landscape of B2B software. Their portfolio reflects a commitment to foundational technologies that enable businesses to operate more efficiently, intelligently, and securely.

Costanoa Ventures has consistently raised substantial funds to support its investment strategy. For instance, the firm announced the close of Costanoa Ventures V in 2022, a fund totaling $350 million dedicated to continuing its early-stage investment focus. This capital allows them to make meaningful initial investments and provide follow-on funding as their portfolio companies grow. Typically, Costanoa Ventures writes initial checks ranging from $1 million to $10 million, depending on the stage and specific needs of the startup.

Their team, led by founding partner Greg Sands, brings a wealth of operational experience alongside investment acumen. This blend of expertise allows Costanoa to offer hands-on support to founders, helping them navigate the challenges of product-market fit, team building, and rapid growth. The firm's disciplined yet founder-friendly approach has established it as a respected partner in the Silicon Valley ecosystem and beyond, contributing to the success of numerous high-growth enterprise technology companies.

Investor Profile

Costanoa Ventures has backed more than 220 startups, with 22 new investments in the last 12 months alone. The firm has led 91 rounds, about 41% of its total and boasts 22 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Series B rounds (top funding stages).
  • Majority of deals are located in United States, Australia, Brazil.
  • Strong thematic focus on Software, SaaS, Information Technology.
  • Led 11 rounds in the past year.
  • Typical check size: $1M – $10M.

Stage Focus

  • Series A (31%)
  • Seed (26%)
  • Series B (20%)
  • Series Unknown (9%)
  • Series C (5%)
  • Pre Seed (3%)
  • Series D (2%)
  • Series E (1%)
  • Series G (1%)
  • Private Equity (1%)

Country Focus

  • United States (90%)
  • Australia (2%)
  • Brazil (2%)
  • Norway (1%)
  • Canada (1%)
  • Sweden (1%)
  • Mexico (1%)

Industry Focus

  • Software
  • Saas
  • Information Technology
  • Artificial Intelligence (Ai)
  • Analytics
  • Machine Learning
  • Financial Services
  • Security
  • Cyber Security
  • Enterprise Software
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Costanoa Ventures frequently co-invest with?

IV
North America, California, United States, San Francisco
Co-Investments: 9
Fika Ventures
North America, California, United States, Culver City
Co-Investments: 6
Y Combinator
North America, California, United States, Mountain View
Co-Investments: 10
Salesforce Ventures
North America, California, United States, San Francisco
Co-Investments: 11
Point72 Ventures
North America, New York, United States, New York
Co-Investments: 6
Uncork Capital
North America, California, United States, San Francisco
Co-Investments: 9
Foundry Group
North America, Colorado, United States, Boulder
Co-Investments: 16
Blackbird Ventures
Oceania, New South Wales, Australia, Sydney
Co-Investments: 10
Sapphire Ventures
North America, Texas, United States, Austin
Co-Investments: 7
True Ventures
North America, California, United States, Palo Alto
Co-Investments: 9

Which angels does Costanoa Ventures often collaborate with?

GS
North America, California, United States, Palo Alto
Shared Deals: 2
GW
North America, California, United States, San Francisco
Shared Deals: 2
LG
North America, California, United States, San Francisco
Shared Deals: 2
ZL
North America, Texas, United States, Austin
Shared Deals: 2
GH
North America, California, United States, San Francisco
Shared Deals: 2
AD
North America, California, United States, San Francisco
Shared Deals: 2
RD
North America, California, United States, San Francisco
Shared Deals: 2
CP
North America, California, United States
Shared Deals: 2
LL
North America, New York, United States, New York
Shared Deals: 2
SA
North America, California, United States, San Francisco
Shared Deals: 2

What are some of recent deals done by Costanoa Ventures?

Shepherd

San Francisco, California, United States

Shepherd is an Insurtech that offers tech-enabled insurance for commercial construction.

CommercialConstructionInsurance
Series BMar 24, 2026
Amount Raised: $42,000,000
Manifold

San Diego, California, United States

Manifold Security provides runtime visibility and protection for autonomous AI agents operating on enterprise endpoints.

Artificial Intelligence (AI)Developer PlatformIndustrial Engineering
SeedMar 18, 2026
Amount Raised: $8,000,000
Smack Technologies

El Segundo, California, United States

Smack's purpose is to provide Decision Dominance to the Department of War, our allies, and partners.

Artificial Intelligence (AI)Web Development
Series AMar 2, 2026
Amount Raised: $32,000,000
Tenna Systems

Woodbury, New York, United States

Tenna Systems provides software solutions focused on electromagnetic spectrum intelligence for defense and critical mobility sectors.

Artificial Intelligence (AI)Service IndustrySoftwareTelecommunicationsWireless
SeedFeb 8, 2026
Amount Raised: $13,500,000
Midship

San Francisco, California, United States

Midship is an AI-powered application that automates the extraction of data from various documents

Artificial Intelligence (AI)Data ManagementInformation Technology
SeedJan 27, 2026
Amount Raised: $4,150,000
Ivo

San Francisco, California, United States

Ivo is an AI-powered contract intelligence platform helping enterprise legal teams streamline contract review and negotiation processes.

Artificial Intelligence (AI)LegalLegal Tech
Series BJan 20, 2026
Amount Raised: $55,000,000
Mindtrip

San Francisco, California, United States

Mindtrip is an AI travel assistant that creates personalised itineraries, recommends activities and stays, and organises trips.

Artificial Intelligence (AI)SoftwareTourismTravel
SeedDec 4, 2025
Spectral Compute

London, England, United Kingdom

Spectral Compute breaks hardware lock-in for AI/ML and HPC workloads, enabling a single codebase for any accelerated computing platform.

Artificial Intelligence (AI)Cloud ComputingConsultingGPUInformation TechnologyMachine LearningSoftware
SeedNov 10, 2025
Amount Raised: $6,000,000
Basis Theory

Mill Valley, California, United States

Basis Theory provides a programmable vault and API platform for tokenizing, routing, and securing sensitive data throughout its lifecycle.

Cyber SecurityData StorageFinTechInformation TechnologyPaymentsPrivacySecurity
Series BOct 14, 2025
Amount Raised: $33,000,000
Marble Health

New York, New York, United States

Marble Health provides access to personalized therapy to help teens in their mental health journey.

Health CareMental HealthWellness
Series AOct 14, 2025
Amount Raised: $15,500,000

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