Uncork Capital (formerly known as SoftTech VC) is a venture capital firm based in San Francisco, California, founded by Jeff Clavier. Considered one of the most active established seed funds in Silicon Valley,[1] it has invested in companies such as Postmates, Eventbrite, Fitbit, and SendGrid.
| Company type | Private |
|---|---|
| Industry | Venture Capital |
| Founded | 2004 |
| Headquarters | San Francisco, CA |
Key people | Jeff Clavier, Founder and Managing Partner Andy McLoughlin, Managing Partner |
| Products | Investments |
| Website | www.uncorkcapital.com |
History
The firm was founded in 2004 by angel investor Jeff Clavier when he transitioned his portfolio into a formal venture firm.[2] Partners include Andy McLoughlin (formerly of Huddle), Susan Liu (formerly of Scale Venture Partners), Tripp Jones (formerly of August Capital),[3] and Amy Saper (formerly of Accel).[4] As of 2024, the firm had invested in over 260 early stage start-ups.[5]
In 2017, the firm changed its name from SoftTech VC to Uncork Capital.[6]
Investments
The firm primarily invests in SaaS (software as a service), marketplaces, consumer services and "frontier technology" ventures.[7] With a focus on seed-stage funding, the firm generally aims to secure between 8-12+% ownership of the companies it invests in.[8][9]
The firm's first fund raised less than $1 million,[10] while the second fund raised $15 million in 2007.
In 2012, Fund III oversubscribed at $55 million,[11] and, in 2014, they closed their fourth fund at $85 million, bringing their capital under management to $155 million.[12][13]
In 2016, the firm raised $100 million for SoftTechVC V and $50 million for a breakout fund.[9] In 2019, the firm raised $100M for Uncork VI and $100M for their second breakout find, Plus II.[14]
In 2023, the firm raised $200M for Uncork VII and $200M for their third breakout fund, Plus III.[15]
Notable investments have included: Eventbrite, Fitbit, Postmates, SendGrid, Survata, Gnip, BrightRoll, Vidyard, LiveRamp,[16][9] about.me,[citation needed] August Home,[citation needed] Bitly,[citation needed] Bleacher Report,[citation needed] Blekko,[citation needed] Chariot,[citation needed] Curse LLC,[citation needed] Gnip,[citation needed] Handshake,[citation needed] Kongregate,[citation needed] Mint.com,[17] and Next Big Sound.[citation needed]