Craft Ventures
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Team
About
Craft Ventures is an American venture capital firm founded in 2017 by David O. Sacks and Bill Lee 12. The firm is headquartered in San Francisco, with a second office opened in Austin, Texas in December 2024 34.
Sacks was formerly COO of PayPal and CEO of Yammer, which Microsoft acquired for $1.2 billion in 2012 12. Lee was formerly of Remarq and Big Fish Games 2. The firm was established to provide operator-led support to founders, drawing on the partners’ experiences as entrepreneurs and executives 12.
Craft’s debut fund closed at $350 million 2. The firm raised a $500 million second fund in 2019 5. In 2021, Craft announced two new funds totaling $1.3 billion, bringing total AUM to $2 billion 26. In November 2023, the firm closed Craft Ventures IV ($712 million) and Craft Ventures Growth II ($608 million), totaling $1.32 billion and bringing total AUM to approximately $3.3 billion 6.
As of 2025, Craft has invested in approximately 255 companies, with 31 portfolio company acquisitions 7. The firm also operates an Executive Briefing Center connecting Fortune 2000 executives with portfolio companies and spun out its internal metrics tool as SaaSGrid 6.
Stated Thesis
Craft Ventures publicly describes itself as a firm focused on B2B software investing, built by founders for founders 3. The firm states it provides “low maintenance but high value-add” support, sharing “winning playbooks and access to senior talent at a stage before [companies] can hire it themselves” 3.
In announcing its 2023 funds, David Sacks highlighted generative AI as a significant opportunity for B2B software companies, stating the firm sees AI as enabling both entirely new products and operational enhancements for existing software businesses 6.
The firm emphasizes its operational expertise, noting that its investment and platform teams include former operators who have built and scaled technology businesses 34.
Inferred Thesis
Based on 255 tracked investments (per Tracxn, as of 2025) 7:
Craft is overwhelmingly an enterprise/B2B investor. Of its portfolio, 197 companies are classified as Enterprise (B2B) and 183 as Software, with at least 117 focused on SaaS 7. Consumer investments represent a smaller but notable segment of the portfolio, including early bets on companies like Airbnb, Reddit, and Lyft 8.
Stage distribution: The firm has made 74 investments at Seed stage (average round size $4.83M), 80 at Series A (average round size $15.5M), and 24 at Series B (average round size $49.4M) 7. This positions Craft primarily as a Seed-to-Series A investor with selective growth-stage follow-ons.
Sector concentration: Based on the portfolio page, key sectors include enterprise SaaS, security (Dune Security, Horizon3.ai, Vanta, SecurityPal), fintech (Affirm, Pipe, Addepar, BitGo), AI/ML (Replit, Roboflow, CopyAI, Glean, Norm AI), and developer tools (Sourcegraph, ParadeDB) 8.
Geographic patterns: Approximately 20% of portfolio companies have a significant New York City presence, prompting the firm to open a NYC office 6. The Austin office opening in late 2024 suggests growing attention to Texas-based startups 4.
Notable gaps: Despite publicly emphasizing B2B, the portfolio includes significant consumer bets (Airbnb, Lyft, Reddit, Postmates, Eight Sleep), suggesting the stated thesis is narrower than actual investment behavior.
Portfolio
| Company | Stage | Year | Sector | Status |
|---|---|---|---|---|
| Affirm | Angel-Seed (Sacks personal) | 2012 | Fintech | IPO (NASDAQ, Jan 2021) |
| Airbnb | Angel-Seed | ~2012 | Consumer/Travel | IPO 8 |
| Anduril | Growth | ~2021 | Defense | Unicorn 8 |
| AgentSync | Series A | 2021 | Enterprise/Insurance | Unicorn 8 |
| ClickUp | Series A | 2020 | Enterprise/Productivity | Unicorn 8 |
| Eventbrite | Angel-Seed | ~2012 | Consumer/Events | IPO 8 |
| Glean | Growth | ~2023 | Enterprise/AI | Active 8 |
| Intercom | Angel-Seed | ~2015 | Enterprise/SaaS | Unicorn 8 |
| Lyft | Angel-Seed | ~2013 | Consumer/Transport | IPO 8 |
| Meta (Facebook) | Angel-Seed | ~2005 | Consumer/Social | IPO 8 |
| Neuralink | Series C | 2021 | Enterprise/Neurotech | Unicorn 8 |
| Opendoor | Angel-Seed | ~2014 | Consumer/Real Estate | IPO 8 |
| Palantir | Angel-Seed | ~2005 | Enterprise/Data | IPO 8 |
| Pave | Growth | ~2022 | Enterprise/HR | Unicorn 8 |
| Pipe | Angel-Seed | ~2020 | Enterprise/Fintech | Unicorn 8 |
| Postmates | Angel-Seed | ~2014 | Consumer/Delivery | Acquired 8 |
| Growth | ~2021 | Consumer/Social | IPO 8 | |
| Replit | Growth | ~2023 | Developer Tools | Active 8 |
| Vanta | Series B | ~2022 | Enterprise/Security | Unicorn 8 |
| Secoda | Angel-Seed | ~2021 | Enterprise/Data | Acquired (Atlassian, Dec 2025) 7 |
| Noma Security | Series B (participant) | 2025-07-31 | Enterprise/Security | Active — $100M, Evolution Equity-led 717 |
| Upwind Security | Series B (led) | 2024-12-02 | Enterprise/Security | Active — $100M at ~$900M val 718 |
| Unframe AI | Series A (participant) | 2025-04-03 | Enterprise/AI | Active — $50M, Bessemer co-led 7 |
| Unframe | Series B (participant) | 2026-05-19 | Enterprise/AI | Active 13 |
| Oasis Security | Series B (led) | 2026-03-19 | Enterprise/Cybersecurity | Active — $120M 10 |
| ComfyUI | Series A (led) | 2026-04-24 | AI / Generative Media | Active — $30M at $500M val 12 |
| Supabase | Series F (participant) | 2026-06-04 | Enterprise/Developer Tools (Database) | Active — $500M at $10.5B post-money, GIC led 141516 |
| Allen Control Systems | Series B (participant) | 2026-06-05 | Defense Tech / Counter-Drone | Active — $200M at $2.2B post-money, Smash Capital led; Rally Ventures, Inspired Capital also participated 192021 |
| Samepage | Seed (co-led with Freestyle VC and Glasswing Ventures) | 2026-06-25 | AI / Product Management / SaaS | Active — $4.85M, with angels Justin Kan and Matt Mullenweg 222324 |
| 8090 Labs | Series A (participant) | 2026-06-29 | AI / Enterprise / AI Coding | Active — $135M, Salesforce Ventures led; WndrCo, The Production Board, LAUNCH also participated; angels Nikesh Arora, Adam D’Angelo. Chamath Palihapitiya became CEO. 252627 |
This table represents a partial sample. Craft Ventures has invested in approximately 255 companies total 7.
In Their Own Words
David Sacks on Craft’s approach: “We consider it a privilege to work with visionary founders and their teams as they build the next generation of technology businesses” 6.
On the firm’s investment thesis, Sacks has written that Craft focuses on B2B software because these companies offer “high growth, high margins, and recurring revenue models” and that “category leadership is a competitive moat that compounds value over time” 6.
What Founders Say
Christina Cacioppo, Co-Founder & CEO of Vanta: “Many VC firms produce their own findings on a company or space, but Craft’s research was deeper, more nuanced and, ultimately, more helpful than anything else I encountered” 9.
Amjad Masad, Co-Founder of Replit: “David Sacks and his firm Craft have been one of the most useful and thoughtful investors we’ve had” 9.
Niji Sabharwal, Co-Founder & CEO of AgentSync: “The Craft team’s deep understanding of SaaS businesses and work ethic combined with the Craft brand is a dangerously effective combination. They are true thought partners and genuinely feel like a seamless extension of our team. Easily the most valuable perk I have seen from an investor” 9.
Elizabeth Stark, Co-Founder & CEO of Lightning Labs: “Working with Craft is not like working with a typical venture firm. They’ve built companies, scaled teams, and been through all the ups and downs that are a natural part of startup life. They have been there before, and they put in the work” 9.
John Nay, Founder & CEO of Norm AI: “Craft digs in immediately and gets shit done. They align with a founder and jump in where helpful” 9.
Beyang Liu, Co-Founder & CTO of Sourcegraph: “Especially if you’re Bottom Up SaaS, Craft is SUPER helpful and will work very hard on your behalf. They’ve helped us on everything from sales, marketing and hiring, to planning, forecasting, and messaging” 9.
Snehal Antani, Co-Founder & CEO of Horizon3.ai: “What’s been amazing working with Craft – they’ve all been in the thick of it. Every person that I’ve worked with is a former operator with that expertise and experience that’s helped us frame really hard problems that have enabled us to succeed” 9.
Sources
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Craft Ventures, Wikipedia. https://en.wikipedia.org/wiki/Craft_Ventures↩↩↩
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Grokipedia, “Craft Ventures.” https://grokipedia.com/page/Craft_Ventures↩↩↩↩↩↩
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Craft Ventures website, homepage, accessed March 2026. https://www.craftventures.com↩↩↩↩
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BusinessWire, “Craft Ventures Opens Austin Office,” December 2024. https://www.businesswire.com/news/home/20251231835654/en/Craft-Ventures-Opens-Austin-Office↩↩↩
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TechCrunch, “David Sacks’s Craft Ventures just closed its second fund with $500 million,” October 2019. https://techcrunch.com/2019/10/15/david-sackss-craft-ventures-just-closed-its-second-fund-with-500-million/↩
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Craft Ventures, “Announcing $1.3 Billion for Craft Ventures IV and Growth II,” November 2023. https://www.craftventures.com/articles/announcing-1-3-billion-for-craft-ventures-iv-and-growth-ii↩↩↩↩↩↩↩
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Tracxn, “Craft Ventures — 2026 Investor Profile, Portfolio, Team & Investment Trends,” accessed March 2026. https://tracxn.com/d/venture-capital/craft-ventures/__zG-jTjgPJv__47yhWZzsDFo5-xt1T9jbrWaaAvKRAM4↩↩↩↩↩↩↩↩↩
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Craft Ventures website, “Portfolio,” accessed March 2026. https://www.craftventures.com/portfolio↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩
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Craft Ventures website, “Founder,” accessed March 2026. https://www.craftventures.com/founder↩↩↩↩↩↩↩
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“Oasis Security raises $120 million Series B to secure the rise of AI agents.” Calcalist Tech, March 19, 2026. https://www.calcalistech.com/ctechnews/article/ske4mstcwl↩
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Craft Ventures website, “Portfolio — Affirm,” accessed March 2026. https://www.craftventures.com/portfolio/affirm↩
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TechCrunch, “ComfyUI hits $500M valuation as creators seek more control over AI-generated media,” April 24, 2026. https://techcrunch.com/2026/04/24/comfyui-hits-500m-valuation-as-creators-seek-more-control-over-ai-generated-media/↩
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SiliconANGLE, “Enterprise AI startup Unframe raises $50M after booking $100M in contract value in year one,” May 19, 2026. Accessed May 2026. https://siliconangle.com/2026/05/19/enterprise-ai-startup-unframe-raises-50m-booking-100m-contract-value-year-one/↩
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PRNewswire, “Supabase Raises $500M at $10.5B to Accelerate Lead in Agentic Infrastructure,” June 4, 2026. Accessed June 2026. https://www.prnewswire.com/news-releases/supabase-raises-500m-at-10-5b-to-accelerate-lead-in-agentic-infrastructure-302791787.html↩
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CNBC, “Vibe-coding phenomenon lifts AI startup Supabase to $10.5 billion valuation,” June 4, 2026. Accessed June 2026. https://www.cnbc.com/2026/06/04/database-startup-supabase-raises-500-million-10point5-billion-valuation.html↩
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TechCrunch, “Supabase doubles valuation to $10B in 8 months,” June 5, 2026. Accessed June 2026. https://techcrunch.com/2026/06/05/supabase-doubles-valuation-to-10b-in-8-months/↩
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Noma Security blog, “Noma Security Raises $100M to Drive Adoption of AI Agent Security,” July 31, 2025. Accessed June 2026. https://noma.security/blog/noma-security-raises-100m-to-drive-adoption-of-ai-agent-security/↩
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TechCrunch, “Cloud security specialist Upwind confirms it raised $100M at a $900M valuation,” December 2, 2024. Accessed June 2026. https://techcrunch.com/2024/12/02/confirmed-cloud-security-specialist-upwind-raises-100m-on-a-900m-valuation/↩
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BusinessWire/Yahoo Finance, “Allen Control Systems Raises $200 Million Series B at $2.2 Billion Post-Money Valuation to Scale Manufacturing and Accelerate Deployment of Bullfrog,” June 5, 2026. Accessed June 2026. https://sg.finance.yahoo.com/news/allen-control-systems-raises-200-141300911.html↩
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Pulse 2.0, “Allen Control Systems Raises $200 Million Series B At $2.2 Billion Valuation To Scale Bullfrog Autonomous Weapon Systems,” June 5, 2026. Accessed June 2026. https://pulse2.com/allen-control-systems-raises-200-million-series-b-at-2-2-billion-valuation-to-scale-bullfrog-autonomous-weapon-systems/↩
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VCNewsDaily, “Allen Control Systems Scoops Up $200M Series B,” June 2026. Accessed June 2026. https://vcnewsdaily.com/allen-control-systems/venture-capital-funding/jcrjfhvksz↩
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FinSMEs, “Samepage.ai Raises $4.85M in Funding,” June 2026. Accessed June 2026. https://www.finsmes.com/2026/06/samepage-ai-raises-4-85m-in-funding.html — Confirms Craft Ventures co-led Samepage’s $4.85M seed alongside Freestyle VC and Glasswing Ventures, with Justin Kan and Matt Mullenweg participating as angels. ↩
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PR Newswire, “Samepage.ai Launches to Bring Continuous Intelligence to Product Teams,” June 25, 2026. Accessed June 2026. https://www.prnewswire.com/news-releases/samepageai-launches-to-bring-continuous-intelligence-to-product-teams-302809943.html — Official company press release naming Craft Ventures, Freestyle VC, and Glasswing Ventures as backers, plus angels Justin Kan and Matt Mullenweg; quotes Sahil Jain (Samepage CEO) and David Samuel (Freestyle VC Partner). ↩
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Pulse 2.0, “Samepage Raises $4.85 Million To Launch AI-Powered Product Intelligence Platform,” June 2026. Accessed June 2026. https://pulse2.com/samepage-raises-4-85-million-to-launch-ai-powered-product-intelligence-platform/ — Independent confirmation of the $4.85M round and participants (Craft Ventures, Freestyle VC, Glasswing Ventures, Justin Kan, Matt Mullenweg). ↩
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TechCrunch, “Chamath Palihapitiya raises $135M Series A for his AI coding startup, takes CEO role,” June 29, 2026. Accessed June 2026. https://techcrunch.com/2026/06/29/chamath-palihapitiya-raises-135m-series-a-for-his-ai-coding-startup-takes-ceo-role/ — Confirms Salesforce Ventures led the 8090 Labs $135M Series A on June 29, 2026, with WndrCo, Craft Ventures, The Production Board, and LAUNCH participating; angels Nikesh Arora and Adam D’Angelo. Chamath Palihapitiya transitioned from board member to CEO. ↩
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Crypto Briefing, “Chamath Palihapitiya raises $135M Series A for AI coding startup 8090,” June 29, 2026. Accessed June 2026. https://cryptobriefing.com/chamath-palihapitiya-135m-series-a-8090-ai/ — Independent confirmation of the $135M round, Salesforce Ventures as lead, and Craft Ventures, The Production Board, and Launch as participants. ↩
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Stockpil, “Chamath Palihapitiya raises $135M Series A for AI coding startup 8090 Labs, steps in as CEO,” June 30, 2026. Accessed June 2026. https://stockpil.com/chamath-palihapitiya-8090-labs-series-a-ceo — Third independent confirmation of the round details (Salesforce Ventures lead; Craft Ventures, The Production Board, LAUNCH as participants; angels Nikesh Arora, Adam D’Angelo). ↩