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Initialized Capital

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Initialized Capital

Initialized Capital is a venture capital fund founded in 2011 and headquartered in San Francisco. It was founded by Alexis Ohanian, Harj Taggar, and Garry Tan.

As of 2021, it has raised more than $3.2 billion in assets.

Initialized Capital has 27 portfolio companies it invested in at seed that have since become unicorns, including Coinbase, Ro, Cruise Automation, Instacart, Flexport, Opendoor, Algolia, Goat Group, Color Health, Flock Safety, Patreon, Reddit, Rippling, Athelas, and CoinTracker.

Initialized raised $7 million in its first fund. In February 2012, it filed its Form D notice of exempt offering of securities.[citation needed] It raised $39 million in its second fund in August 2013.

In 2013, Initialized Capital became an early investor in Coinbase, wiring the cryptocurrency app's founder Brian Armstrong $200,000. Garry Tan left Y Combinator in 2015 to focus on Initialized full time.

On June 7, 2016, the firm announced a $100M target for its third fund and then closed $125 million.

In late 2018, it raised a $225 million fund, the company's fourth.

In June 2020, Ohanian ended his role as Managing Partner at Initialized.

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