Greenoaks Capital

About

Greenoaks Capital Partners is a San Francisco-based investment firm founded in 2012 by Neil Mehta and Benny Peretz ¹². The firm is named after the street Mehta grew up on in Atherton, California ¹. Mehta previously worked at D.E. Shaw, which he left at age 27 to launch Greenoaks ³.

The firm began with an initial fund of approximately $50 million ¹⁴. Mehta famously invested roughly 40% of that first fund into Coupang, the South Korean e-commerce company, a bet that eventually returned approximately $8 billion ¹⁴.

Greenoaks has since raised six funds, growing from $50M to multi-billion dollar vehicles:

Note: Fund II and Fund IV sizes are not publicly disclosed. Total AUM is approximately $15 billion as of 2025 ¹.

The firm operates with remarkable concentration: approximately 55 core companies across nearly $15 billion in assets, managed by only nine investment professionals ³. Greenoaks writes $25-75 million initial checks to roughly 15 companies per fund ².

As of January 2026, Greenoaks has invested in 114 companies total, with 43 unicorns in its portfolio. The portfolio has produced 9 IPOs and 14 acquisitions ⁸. Notable exits include Navan (listed on NASDAQ in October 2025 at $5.82B market cap) and Figma (listed on NYSE at $13.5B market cap) ⁸.

Over its first 13 years, Greenoaks has generated over $13 billion in gross profits with a 33% net IRR ⁴.

Stated Thesis

(Self-reported: These represent what Greenoaks says publicly about its approach. See Inferred Thesis for analysis of actual investment behavior.)

Greenoaks describes itself as making concentrated, long-term investments in technology and internet-enabled businesses globally ². The firm focuses on what Neil Mehta calls “future S&P 500 companies” — businesses that could become generation-defining ⁹.

Mehta’s philosophy emphasizes first-principles analysis, humility, and backing founders who create what he calls “Jaw Dropping Customer Experiences” through extreme focus and customer obsession ³.

Mehta has told LPs: “This is who I am. This is how we operate. We don’t diversify. We concentrate, and we drive on” ³.

The firm describes its approach as seeking “generational founders” and building long-term partnerships rather than making short-term bets ⁴. Greenoaks is known for continuing to hold public equity positions post-IPO, demonstrating conviction in long-term compounding ².

Inferred Thesis

Based on 15 verified portfolio companies. Sample size covers only ~13% of 114 total investments, so percentages should be treated as directional rather than definitive.

Stage distribution: Greenoaks primarily invests at Series C and later stages ⁸, with entry points ranging from Series A to late venture ⁸. The $25-75M initial check sizes ² are consistent with growth-stage investing.

Sector breakdown (based on 15 verified companies): E-commerce/marketplaces (Coupang, Flipkart, Kavak, Carvana — 4 of 15, 27%), enterprise SaaS/infrastructure (Stripe, Rippling, Databricks, Klaviyo — 4 of 15, 27%), cybersecurity (Wiz — 1 of 15, 7%), consumer/social (Discord — 1 of 15, 7%), fintech (Robinhood, Toast — 2 of 15, 13%), AI (Scale AI, Sierra — 2 of 15, 13%), corporate travel (Navan — 1 of 15, 7%) ⁴⁸¹⁰.

Geographic patterns: The portfolio is notably global: South Korea (Coupang), India (Flipkart), Mexico/LatAm (Kavak), alongside US-based companies ⁸¹⁰. This is consistent with the firm’s stated emphasis on investing globally.

Concentration strategy: With only ~55 core companies across $15B in assets and ~15 companies per fund ²³, Greenoaks takes one of the most concentrated approaches among growth-stage investors. This contrasts with peers like Tiger Global or Insight Partners who make hundreds of investments per fund.

Co-investor patterns: Based on verified portfolio data, Greenoaks frequently co-invests alongside other growth-stage firms including Sequoia, Andreessen Horowitz, and Tiger Global in companies like Stripe, Databricks, and Wiz.

Notable pattern: Strong bias toward companies with category-dominant positions in large markets — Coupang (Korean e-commerce), Stripe (payments infrastructure), Wiz (cloud security). This aligns with the “future S&P 500 companies” thesis.

Portfolio

This table represents approximately 18% of Greenoaks’ 114 total investments ⁸. Investment years are based on primary press sources where available.

In Their Own Words

Neil Mehta on concentration: “This is who I am. This is how we operate. We don’t diversify. We concentrate, and we drive on” ³.

Mehta on preparation: “For a founder, that makes a first meeting with us feel like a fourth or fifth” ³.

Mehta describes his investment framework as seeking “Jaw Dropping Customer Experiences” — companies that achieve extreme focus and customer obsession ³.

The firm’s stated mission is to find “future S&P 500 companies” and back “generational founders” ⁴⁹.

What Founders Say

No independently sourced founder testimonials found. Greenoaks maintains a minimal public profile and does not feature founder testimonials on its website. Dedicated searches for portfolio founder quotes about their experience with Greenoaks or Neil Mehta did not yield verifiable results.

Sources