Powered by Field Studies — proprietary research sprints that uncover investment opportunities primed for growth — we lead rounds across a variety of sectors.


Early Stage

Pre-seed and seed checks of $500K to $2M for startups with exceptional founder-market fit

Mid Stage

Series B and beyond investments of $2-5M for market leaders further along the venture curve

Field Studies

A repeatable, thesis-driven approach to investment is a cornerstone of how we do business

OneHerd Platform

Access to downstream capital, new customers and lived experience to help founders scale from 0 to 1

We invest in what we know best and believe in most.

PropTech & Construction Tech

Core to our owner-operator roots — enhanced by synergies with Alpaca Real Estate — we know how real estate really works. Areas of interest include climate tech, clean energy, new ownership models, building materials and processes and FinTech applications for the Built World.


We believe tech drives growth and penetration, especially in commerce. We have been recently thinking about the office of the COO and CFO, and other infrastructure that powers global commerce.

Supply Chain

Challenges to supply chains globally are at an all-time high, and so are the possibilities for investing in supply chain startups across modalities. Areas we pursue include delivery, freight, returns, cross-border, circularity, and the warehouse of the future.

& Web3

We believe we are still in the early phases of blockchain technology and its true use cases. We are mostly interested in infrastructure and related tools.


Consumer products, services and applications are continually evolving alongside technological advances, trends and preferences. While one size rarely fits all, we are currently excited about personalization and advantages in distribution.


As fintech matures, new technologies and opportunities continue to come to market with increasing speed and force. Areas of interest and investment include lending solutions, financial product innovation, investments and payments.

We offer more than just capital

Access Downstream Fundraising

We connect founders with the right investors to unlock your next stage. We help you raise follow-on rounds with dedicated introductions and a proven playbook.

Set the Right OKRs

We believe structure feeds success. That’s why we take the time to outline company milestones that prepare founders and align with what’s actually happening in the market.

Acquire New Customers

We open doors to new opportunities and growth. Access new customers through our network of experts, industry veterans and likeminded portfolio companies.