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Delphi Ventures

North America, California, United States, San Mateo

Description

Delphi Ventures, established in 1988, stands as a pioneering venture capital firm with a dedicated focus on the life sciences sector. Based in San Mateo, California, the firm was among the first to specialize in this critical industry, building deep expertise over more than three decades. Its long-standing presence and specialized approach have allowed it to become a significant player in funding innovative healthcare and biotechnology companies, contributing to advancements in medicine and patient care.

The firm's investment strategy primarily targets early-stage companies, including Seed, Series A, and Series B rounds, though it also considers later-stage opportunities when compelling. Delphi Ventures often takes on the role of a lead investor or a substantial participant in financing rounds, demonstrating its commitment and belief in its portfolio companies. Initial investments typically range from $5 million to $15 million, with additional capital reserved for follow-on investments to support growth and development.

Delphi Ventures has successfully raised seven funds, accumulating over $1 billion in total committed capital. This substantial capital base enables the firm to provide robust financial backing to its portfolio. Their investments span a broad spectrum of the life sciences, encompassing therapeutics, medical devices, and diagnostics. The firm is known for its hands-on approach, leveraging its extensive network and industry knowledge to help guide portfolio companies from inception through commercialization, aiming to foster significant advancements in healthcare.

Investor Profile

Delphi Ventures has backed more than 196 startups, with 2 new investments in the last 12 months alone. The firm has led 27 rounds, about 14% of its total and boasts 47 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series C, Series Unknown rounds (top funding stages).
  • Majority of deals are located in United States, Canada, Singapore.
  • Strong thematic focus on Health Care, Biotechnology, Medical Device.
  • Typical check size: $5M – $15M.

Stage Focus

  • Series B (19%)
  • Series C (17%)
  • Series Unknown (13%)
  • Series A (12%)
  • Series D (12%)
  • Seed (12%)
  • Series E (5%)
  • Initial Coin Offering (3%)
  • Private Equity (2%)
  • Pre Seed (2%)

Country Focus

  • United States (86%)
  • Canada (3%)
  • Singapore (3%)
  • United Kingdom (2%)
  • Hong Kong (1%)
  • Liberia (1%)
  • Saint Kitts and Nevis (1%)
  • Liechtenstein (1%)
  • Vietnam (1%)
  • Portugal (1%)

Industry Focus

  • Health Care
  • Biotechnology
  • Medical Device
  • Medical
  • Therapeutics
  • Blockchain
  • Manufacturing
  • Health Diagnostics
  • Pharmaceutical
  • Cryptocurrency
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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 Delphi Ventures frequently co-invest with?

DeNovo Ventures
North America, California, United States, Saratoga
Co-Investments: 15
Three Arch Partners
North America, California, United States, Portola Valley
Co-Investments: 11
New Enterprise Associates
North America, California, United States, Menlo Park
Co-Investments: 20
Versant Ventures
North America, California, United States, Menlo Park
Co-Investments: 18
Alloy Ventures
North America, California, United States, Palo Alto
Co-Investments: 21
DeFiance Capital
Asia, Central Region, Singapore, Singapore
Co-Investments: 15
Frazier Healthcare Partners
North America, Washington, United States, Seattle
Co-Investments: 13
Split Rock Partners
North America, Minnesota, United States, Minneapolis
Co-Investments: 10
Affinity Capital Management
North America, Minnesota, United States, Minneapolis
Co-Investments: 13
Advanced Technology Ventures
North America, California, United States, Menlo Park
Co-Investments: 10

Which angels does Delphi Ventures often collaborate with?

Balaji Srinivasan
Asia, Central Region, Singapore, Singapore
Shared Deals: 2
Robbie Ferguson
Oceania, New South Wales, Australia, Sydney
Shared Deals: 2
GV
North America, New York, United States, New York
Shared Deals: 2
KG
North America, California, United States, San Francisco
Shared Deals: 2
SR
Europe, Monaco
Shared Deals: 3
Alex Svanevik
Asia, Singapore
Shared Deals: 3
SB
North America, New York, United States, New York
Shared Deals: 2
WP
North America, Montana, United States, Bozeman
Shared Deals: 2
Nicholas Tong
Oceania, New South Wales, Australia, Sydney
Shared Deals: 3
Shared Deals: 2

What are some of recent deals done by Delphi Ventures?

Distinct Possibility Studios operates as a game development studio.

Developer PlatformGaming
Series UnknownJul 3, 2025
Amount Raised: $30,500,000
Upexi

Henderson, Nevada, United States

Upexi is a multi-faceted brand owner that focuses on direct-to-consumer and Amazon brands.

Consumer GoodsE-CommerceRetail
Post Ipo EquityApr 21, 2025
Amount Raised: $100,000,000
0G

San Francisco, California, United States

0G is a technology startup + foundation developing a web3 modular infrastructure platform to build applications on low-latency data feeds.

Artificial Intelligence (AI)BlockchainWeb3
SeedNov 13, 2024
Amount Raised: $40,000,000
Arrow Markets

Palo Alto, California, United States

Arrow Markets is a decentralized protocol built on the avalanche blockchain.

BlockchainFinancial ServicesFinTechTrading PlatformVirtual Currency
Series AMar 30, 2024
Amount Raised: $4,000,000
MyShell

San Francisco, California, United States

MyShell is a decentralized and comprehensive platform for discovering, creating, and staking AI-native apps.

Artificial Intelligence (AI)Human Computer InteractionMobile AppsSoftware
SeedMar 27, 2024
Amount Raised: $11,000,000
Pixelmon

New York, New York, United States

Pixelmon is a decentralized web3 gaming IP company that develops online video games.

GamingMetaverseWeb3
SeedFeb 2, 2024
Amount Raised: $8,000,000
Anoma

Zug, Zug, Switzerland

An intent-centric, privacy-preserving protocol for decentralized counterparty discovery, solving, and multi-chain atomic settlement.

BlockchainInformation TechnologyOpen Source
Series CMay 31, 2023
Amount Raised: $25,000,000
FastLane

Los Angeles, California, United States

FastLane protocol is designed to generate revenue for validators while increasing the effectiveness of algorithmic traders.

Software
SeedMay 23, 2023
Amount Raised: $2,300,000
Karate Combat

New York, New York, United States

Karate Combat is a karate organization that conducts leagues and events.

EventsSportsTraining
Series UnknownApr 19, 2023
Amount Raised: $18,000,000
Astria

New York, New York, United States

Astria is a shared sequencing network that allows many rollups to share a single decentralized network of sequencers.

SeedApr 4, 2023
Amount Raised: $5,500,000