William Barnes

Founder & General Partner, Karman Ventures (formerly Moving Capital) at karman-ventures

Reviewed Updated May 1, 2026

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Location Austin, Texas
Check Size $100K-$500K (Karman Fund 1); $10K-$300K (sweet spot $220K) historically as syndicate lead
Last Verified Investment Karman Ventures Fund 1 ($40M debut institutional fund close) — Jun 2025
Social @williampbarnes LinkedIn
Stage Focus
pre-seed seed
Sector Focus
artificial-intelligence defense aerospace transportation mobility marketplaces developer-tools robotics

Background

William Barnes is the Founder & General Partner of Karman Ventures, a pre-seed and seed-stage venture firm based in Austin, Texas that closed its $40M oversubscribed debut institutional fund in 2025 123. Karman Ventures is the renamed and institutionalized successor to Moving Capital, the AngelList-based investor syndicate Barnes co-founded in 2018 with former Uber New York General Manager Josh Mohrer 456.

Barnes was one of the first ~50 employees at Uber, joining in 2011 and remaining through 2017. He launched Uber Los Angeles as General Manager and then scaled the company’s U.S. West Coast operations through the hyper-growth years, ultimately holding the title “Sr. Director & GM, U.S. West Coast” 78. Before Uber, he founded and sold an e-commerce company (NerdyShirts.com / uCrave per public profiles) 78. He holds a BEng in Mechanical Engineering from the University of the West of England 7.

Moving Capital launched publicly in July 2018 after roughly nine months of informal operation. Barnes (West Coast Uber alumni network) and Mohrer (NYC Uber alumni network) built the syndicate around a base of ~100 former Uber employees who could write small checks alongside one another into “Uber-adjacent” two-sided marketplaces and transportation startups 45. Disclosed early Moving Capital deals included Lime, Cargo, Replicated, Service, and Salido; Bird’s Series A and B were led by Mohrer’s other firm at the time, Tusk Ventures 45. The syndicate evolved over the next several years into Karman Ventures, which was founded in 2018 (per Tracxn / Crunchbase records) but did not close an institutional fund until June 2025 29. Through the Moving Capital syndicate and Karman, Barnes’ personal portfolio page lists 30+ companies including SpaceX, Anduril, Figure AI, Shield AI, Hadrian, OpenAI, Lime, Liquid Death, Snackpass, Veho, Codi, Fonoa, Steno, Levels, and Metropolis 7.

The user-supplied brief for this profile suggested Barnes had worked at Tusk Ventures. Public records do not support this — his pre-investing career was Uber West Coast operations, not Tusk. It was his Moving Capital co-founder Josh Mohrer who joined Tusk Ventures as Managing Director in 2017 10.

Stated Thesis

Karman Ventures publicly describes itself as “a venture firm designed to serve founders who are building the next generation of AI-native companies” and lists five focus areas: the AI application layer; AI infrastructure and developer tools; AI modernizing core industries (healthcare, manufacturing, logistics, finance); embodied AI; and “founders advancing American national interest” 13. The firm writes pre-seed and seed checks of $100K-$500K and pitches its differentiation as operator empathy plus an LP base of “10+ decacorn founders, 10+ general partners from leading later-stage firms, and a 6,000+ alumni talent network” 13.

Announcing the Fund 1 close on LinkedIn, Barnes wrote: “We built the firm founders told us they wanted: move fast, commit early, and actively support with hiring, customer introductions, and follow-on fundraising” 1.

The original Moving Capital thesis (2018) was narrower and operator-network specific. As described in the launch press: “We believe that people who help build transformative companies will go on to do other awesome things” — focused on “Uber-adjacent” two-sided marketplaces and transportation startups 4. That quote is attributed to Mohrer; Barnes is not directly quoted in the original TechCrunch piece 4.

On his personal site Barnes summarizes his approach as: “We move fast, bring operator empathy, and partner with a network of LPs who have built some of the most iconic companies of our generation” 7.

Signal by NFX records his historical (Moving Capital era) check parameters as $10K-$300K with a sweet spot of $220K, focused on Travel, TransportationTech, Marketplaces, and FinTech at Seed and Series A 8.

Inferred Thesis

This analysis combines (a) the original Moving Capital syndicate portfolio (2018-2024) and (b) the post-Karman-fund AI-native focus (2025+). Sample size for confidently partner-attributed deals is small — most Moving Capital syndicate participation was small-check syndication, not partner-led — so this section uses qualitative descriptions rather than computed percentages.

Two distinct eras, two distinct theses. Moving Capital era (2018-~2024) was an Uber-alumni-sourced syndicate, heavily concentrated in two-sided marketplaces, mobility, and transportation: Lime (scooters), Cargo (in-vehicle commerce), Veho (last-mile delivery), Metropolis (parking/payments), Snackpass (food ordering), Liquid Death (consumer brand), Replicated, Service, Salido 457. Karman Ventures Fund 1 (2025+) is an explicit pivot — the AI-native focus dominates, with the personal-site portfolio now featuring AI-first companies (Paradigm, Not Diamond, Julius AI, Momentic, Cluely, Causal Labs, Figure AI, MetaView, Elise AI), aerospace and defense (SpaceX, Anduril, Shield AI, Hadrian, Aerodome, SkyFi), and developer tools 137.

Stage and check size. Pre-seed and seed are now the explicit focus, with $100K-$500K Fund 1 checks 13. Historically Barnes wrote smaller individual checks ($10K-$300K range) through the Moving Capital syndicate 8. Karman is described as a first-check / first-institutional-investor firm but does not lead 11.

Geographic focus. Headquartered in Austin, with strong Los Angeles / Southern California ties from Barnes’ Uber West Coast tenure 78. The LP and sourcing network is explicitly bicoastal via the Mohrer (NYC) connection in the Moving Capital era; Karman Ventures’ filings list Austin as primary 29.

Founder profile patterns. The throughline across both eras is operator-turned-founder bias: Moving Capital was explicitly built around Uber alumni founding companies, and Karman markets its 6,000+ alumni network as a sourcing and hiring channel for “technical teams who are obsessed with building products that their customers love” 3411. Barnes’ personal site emphasizes the operator-empathy framing 7.

Notable gap from stated thesis. The “American national interest” focus area appears in marketing copy 13 and is reflected in defense/aerospace investments (Anduril, Shield AI, Hadrian, SpaceX) 7, but most Karman portfolio companies disclosed are AI-application or AI-infrastructure plays rather than dual-use defense — the marketing language is broader than the typical check.

Caveat on attribution. Most of the names on Barnes’ personal portfolio page span the Moving Capital syndicate, his individual angel checks, and Karman fund deals. SpaceX, Anduril, Figure AI, and OpenAI almost certainly represent secondary-market or syndicate participation, not lead checks — Karman Ventures explicitly does not lead 11. Treat the company-name list as exposure, not lead-investor attribution.

Portfolio

Company Year Stage Source
Lime 2018 Series C participation (Moving Capital syndicate) 45
Cargo 2018 Series A participation (Moving Capital) 4
Replicated 2018 Moving Capital syndicate 4
Service 2018 Moving Capital syndicate 4
Salido 2018 Moving Capital syndicate 4
Snackpass 2021-06-23 Series B (Moving Capital era) 9
Veho ~2020-2022 Moving Capital era 7
Metropolis ~2020-2023 Moving Capital era 7
Liquid Death ~2020-2022 Moving Capital era 7
Levels ~2021 Moving Capital era 7
Fonoa ~2021 Moving Capital era 7
Codi ~2021 Moving Capital era 7
Steno ~2021 Moving Capital era 7
Yassir ~2022 Moving Capital era 7
GrubMarket ~2021 Moving Capital era 7
BallerTV ~2020 Moving Capital era 7
Pepper ~2021 Moving Capital era 7
Dandy ~2021 Moving Capital era 7
Forage ~2022 Moving Capital era 7
Nelo ~2022 Moving Capital era 7
Lucy Goods ~2022 Moving Capital era 7
Kolors ~2023 Moving Capital era 7
OpenAI ~2023 Secondary / syndicate exposure 7
SpaceX ~2023 Secondary / syndicate exposure 7
Anduril ~2023 Syndicate exposure 7
Shield AI ~2024 Karman era (defense AI) 7
Figure AI ~2024 Karman era (embodied AI) 7
Hadrian ~2024 Karman era (defense manufacturing) 7
Aerodome ~2024 Karman era (aerospace) 7
SkyFi ~2024 Karman era (aerospace) 7
Paradigm ~2025 Karman Fund 1 (AI) 311
Not Diamond ~2025 Karman Fund 1 (AI infra) 311
Julius AI ~2025 Karman Fund 1 (AI) 311
Momentic ~2025 Karman Fund 1 (AI dev tools) 311
Cluely ~2025 Karman Fund 1 (AI) 3
Causal Labs ~2025 Karman Fund 1 11
MetaView ~2025 Karman era (AI) 7
Elise AI ~2025 Karman era (AI) 7

This table represents 38 entries from publicly visible sources (Barnes’ personal portfolio page, Karman.vc portfolio page, the original 2018 TechCrunch / Axios announcements, Tracxn, and Signal by NFX). Tracxn lists Karman Ventures’ total invested-company count at 73 (with 7 unicorns and 11 investments in the trailing 12 months as of Dec 2025) 9, so this table represents roughly half of the institutional portfolio plus Barnes’ personal angel exposure. Years marked ~ are best estimates; exact round dates were not located in within the search budget for many entries.

In Their Own Words

“We built the firm founders told us they wanted: move fast, commit early, and actively support with hiring, customer introductions, and follow-on fundraising.” — William Barnes, LinkedIn announcement of Karman Ventures Fund 1 close, 2025 1

“We move fast, bring operator empathy, and partner with a network of LPs who have built some of the most iconic companies of our generation.” — William Barnes, personal site williambarnes.com 7

“We believe that the people who built transformational companies will build the next generation of transformational companies. Uber built teams all over the world to solve the challenges that came with our hyper-growth — we believe that the people that build the world’s most impactful companies learn unique skills and form deep connections with their teammates.” — Karman Ventures public marketing copy (Barnes is co-founder; attribution is firm-level, not exclusively Barnes) 11

Note: substantive direct-quote material from Barnes in the press is sparse. The 2018 TechCrunch and Axios announcements of Moving Capital quoted Mohrer extensively but did not quote Barnes directly 45. Most of Barnes’ public voice appears on his LinkedIn and personal site.

What Founders Say

No independently sourced founder testimonials about working with William Barnes specifically were located within the time budget for this profile. Karman Ventures’ marketing materials describe partner support but do not contain attributed founder quotes. If a reader has a sourced founder quote about working with Barnes or Karman Ventures, please submit it via the profile page.

Connections

  • Co-founder, Moving Capital (2018-) — alongside Josh Mohrer (former Uber NYC GM, later Shine Capital co-founder); ~100 former-Uber-employee LP base 4510
  • Founder & General Partner, Karman Ventures (2025-) — institutional successor to Moving Capital; $40M Fund 1 closed June 2025 123
  • Karman Ventures team — Dave Clark (General Partner), Amr Al-Shihabi (General Partner per Private Equity International listing), Nikhil Goel (Venture Partner), Alisha Murphy (Executive Assistant) 212
  • Sr. Director & GM, U.S. West Coast, Uber (2011-2017) — one of the first ~50 employees; launched Uber Los Angeles 78
  • Founder, NerdyShirts.com / uCrave (pre-Uber) — e-commerce; acquired, scaled, and sold 812
  • LP network (Karman Fund 1): “10+ decacorn founders, 10+ general partners from leading later-stage venture firms, 6,000+ alumni talent network” — specific names not publicly disclosed 13
  • Frequent co-investor exposure (Moving Capital era): Founders Fund and Coatue (via Cargo Series A lead) 4; Bird cap table including Sequoia and Accel via the Tusk Ventures-led rounds Mohrer coordinated 510
  • Notable Uber alumni network connections: Josh Mohrer (Uber NYC GM, Moving Capital co-founder, then Shine Capital, then Levels, then Wave AI) 410

Connection notes are based on publicly verifiable affiliation. Specific board seats, advisory roles, or per-deal lead-partner attributions for Karman were not located in public sources within this profile’s search budget.

Sources

  1. William Barnes on LinkedIn, “I am proud to announce that we have closed our oversubscribed $40M Fund…” Karman Ventures Fund 1 announcement post. Accessed May 2026. https://www.linkedin.com/posts/williampbarnes_i-am-proud-to-announce-that-we-have-closed-activity-7380965064830324737-Yv2V↩↩↩↩↩↩↩↩↩↩

  2. Private Equity International, Karman Ventures institution profile (lists Austin HQ; Fund 1 closed June 2025). Accessed May 2026. https://www.privateequityinternational.com/institution-profiles/karman-ventures.html↩↩↩↩↩

  3. Everything Startups, “Karman Ventures” new VC fund profile (debut $40M fund, AI-native thesis, $100K-$500K checks, named portfolio companies). Accessed May 2026. https://www.everythingstartups.com/vc-funds/karman-ventures↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  4. TechCrunch, “Two ex-Uber execs have an investor syndicate to fund Uber alum,” July 24, 2018. Accessed May 2026. https://techcrunch.com/2018/07/24/uber-exec-syndicate-moving-capital/↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  5. Axios, “Scoop: Ex-Uber employees form Move Capital to invest in former colleagues.” Accessed May 2026. https://www.axios.com/uber-employees-invest-0ba28a11-0a4b-44ae-a78c-ec963d6a66f8.html↩↩↩↩↩↩↩↩

  6. NexChangeNOW, “Ex-Uber Execs Have Launched an ‘Investor Syndicate’ to Fund Startups From Uber Alum.” Accessed May 2026. https://www.nexchangenow.com/news/66220/ex-uber-execs-have-launched-an-investor-syndicate-to-invest-in-startups-from-uber-alum/↩

  7. William Barnes personal site, williambarnes.com — bio and portfolio listing. Accessed May 2026. https://www.williambarnes.com/↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  8. Signal by NFX, William Barnes investing profile (Moving Capital; check sizes; sectors; Uber West Coast role). Accessed May 2026. https://signal.nfx.com/investors/william-barnes↩↩↩↩↩↩↩

  9. Tracxn, “Karman — 2026 Investor Profile, Portfolio, Team & Investment Trends” (founded 2018, 73 invested companies, 7 unicorns; Snackpass Series B June 23, 2021). Accessed May 2026. https://tracxn.com/d/venture-capital/karman/__1v2kfd_x0tZ_pKp4ssa7VH76mqVQaTFqhAHy7vpBfws↩↩↩↩

  10. TechCrunch, “Uber’s New York manager, Josh Mohrer, joins Tusk Ventures as managing director,” May 30, 2017. Accessed May 2026. https://techcrunch.com/2017/05/30/ubers-new-york-manager-josh-mohrer-joins-tusk-ventures-as-managing-director/↩↩↩↩

  11. Karman Ventures website, karman.vc — thesis, focus areas, portfolio (Paradigm, Not Diamond, Julius AI, Causal Labs, Momentic). Accessed May 2026. https://www.karman.vc/↩↩↩↩↩↩↩↩↩

  12. The Org, “William Barnes — Founding Partner at Karman Ventures” — Austin location, prior career, team chart. Accessed May 2026. https://theorg.com/org/karman-ventures/org-chart/william-barnes↩↩