Uncorrelated Ventures

Uncorrelated Ventures is a prominent venture capital firm founded by Salil Deshpande, specializing in early-stage infrastructure software companies. Based in Palo Alto, California, the firm focuses on a niche yet critical segment of the technology market, including areas like open-source software, artificial intelligence and machine learning infrastructure, data management, developer tools, and cybersecurity. Deshpande, a seasoned investor with prior experience at Bain Capital Ventures and Lightspeed Venture Partners, established Uncorrelated Ventures to provide focused capital and expertise to founders building foundational technologies. The firm's investment philosophy emphasizes identifying companies with strong technical teams and disruptive solutions that address fundamental needs in enterprise and developer ecosystems.

The firm's investment strategy is characterized by its deep technical understanding and hands-on approach, aiming to be a value-add partner to its portfolio companies. Uncorrelated Ventures typically engages with startups at the seed to Series A stages, providing not just capital but also strategic guidance and access to a network of industry experts. They seek out companies that are developing innovative solutions to complex problems, often with a strong open-source component or a focus on developer-centric products. This specialized focus allows them to offer tailored support and insights, helping early-stage companies navigate the challenges of product development and market penetration in the infrastructure software space.

Uncorrelated Ventures has demonstrated consistent growth in its capital base, reflecting its successful investment track record. The firm raised its third fund, Uncorrelated Ventures III, in 2023, closing at $200 million. This follows earlier funds, including a $100 million Fund I in 2019 and a $150 million Fund II in 2021, bringing their total capital under management to approximately $450 million. For initial investments, Uncorrelated Ventures typically writes checks ranging from $500,000 to $5 million. While their initial commitment falls within this range, they are also prepared to provide follow-on funding, potentially investing up to $10 million in a single company over its lifecycle, supporting their portfolio companies through subsequent growth rounds.