Race Capital

Race Capital is an early-stage venture capital firm based in Palo Alto, California, with a strong focus on investing in foundational technology and infrastructure. Founded in 2019, the firm quickly established itself as a significant player in the early-stage ecosystem, particularly in areas like developer tools, deep tech, and blockchain infrastructure. Race Capital's investment thesis centers on identifying and supporting companies building the underlying layers of the next generation of technology.

The firm is known for its hands-on approach and its team's deep operational experience, including co-founder Alfred Chuang, who previously co-founded BEA Systems. Race Capital has demonstrated a consistent ability to raise capital, closing its third fund, Race Capital III, at $150 million in 2023. This follows previous funds of $60 million (Fund I) and $100 million (Fund II), reflecting a growing commitment to its investment strategy.

Race Capital typically invests at the pre-seed to Series A stages, often taking a lead role in funding rounds. Their portfolio includes notable companies such as FTX (pre-seed investment), Agora, dYdX, and Solana, showcasing their diverse yet infrastructure-centric investment scope. The firm's typical initial check sizes range from $500,000 to $5 million, providing significant early capital for promising startups. Their strategic focus on infrastructure allows them to build specialized expertise and a valuable network for their portfolio companies, aiming to support long-term growth in critical technology sectors.