Top 12 Venture Capital Firms in San Mateo

For founders preparing to raise capital, understanding the venture capital firms in San Mateo and the broader Silicon Valley Peninsula is essential. Knowing which investors are active in the area, and what they look for, can significantly focus your fundraising process. To help you get started, our team has curated this overview of the top VC firms operating in San Mateo, giving you a quick reference for finding the right financial partners.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Seeking venture capital funding is a strategic process of finding financial partners who align with your company's goals and can provide more than just capital.

• San Mateo is home to several prominent venture capital firms, including Franklin Templeton, Draper Associates, Ballistic Ventures, and Defy.vc.

• For startup leaders raising capital or managing a recent round, Rho provides a unified platform to access and manage funds through alternative financing, business banking, and corporate cards.

Which San Mateo VC Firms Are Right for Your Stage?

Whether you're raising your first round or preparing for an exit, knowing which investors to approach is a critical step. This overview breaks down which San Mateo VC firms invest at each stage of a company's growth.

Pre-seed and Seed VC Firms in San Mateo

This is the first institutional capital a startup raises, often used to find product-market fit and build an initial team. For founders in fintech or other transformative industries, seed-stage VC firms like Draper Associates and Defy focus on this initial stage of company building.

Early Stage VC Firms in San Mateo

Early-stage funding, which includes Series A and B rounds, helps companies with a proven product scale their operations and customer base. For founders building solutions in specialized sectors like cybersecurity, firms such as Ballistic Ventures and Forgepoint are key players in the area.

Late Stage VC Firms in San Mateo

Late-stage funding is for mature companies preparing for a major expansion, acquisition, or an initial public offering (IPO). Prominent late-stage investors in San Mateo include the long-established Franklin Templeton and the well-known firm Benchmark.

It's also worth noting that many venture capital firms invest across multiple stages, from seed to exit. These multi-stage VCs can provide continuous support as a company grows.

Below, we provide a detailed overview of the top VC firms in San Mateo, covering their investment stages, sector focus, portfolio highlights, and what makes each a distinct choice for founders.

1. Franklin Templeton

Franklin Templeton is a global investment management organization with a long history dating back to 1947. While widely known for its mutual funds, the firm also operates a significant venture capital arm that invests in private companies.

The firm primarily focuses on late-stage venture investments, providing capital to mature companies preparing for a major expansion or IPO. Their investment activity shows a clear preference for the financial services, wealth management, and professional services sectors.

This makes them a suitable partner for established companies with strong traction, particularly those in the fintech space. Founders looking for an experienced, stable investor to support their growth rounds would find them to be a good fit.

• Investment stages: Late Stage Venture

• Industries of focus: Financial Services, Hedge Funds, Professional Services, Wealth Management

• Founded: 1947

• Portfolio size: 217 investments

• Track record: 68 exits

You can refer to their website here.

2. Draper Associates

Draper Associates is an early-stage venture capital firm known for backing companies that aim to reshape entire industries. They are a key player in the San Mateo venture scene, focusing on foundational investments in ambitious teams.

The firm invests across a wide spectrum, from seed and early-stage rounds to private equity, signaling a flexible, long-term approach. Their focus is clearly on software and financial technology, looking for businesses with the potential for significant market impact.

This firm is a strong potential partner if you are an early-stage founder with a bold vision, particularly in fintech or software. Their multi-stage investment capability suggests they can support a company through various growth phases.

• Investment stages: Seed, Early Stage Venture, Private Equity

• Industries of focus: Financial Services, FinTech, Software

• Founded: 2015

• Portfolio size: 414 investments

• Track record: 67 exits

You can refer to their website here.

3. Ballistic Ventures

Ballistic Ventures is a venture capital firm that invests exclusively in cybersecurity startups. They are dedicated to funding and incubating new companies working on security-related innovations.

The firm's singular focus on cybersecurity is its defining feature, signaling deep expertise in the sector. They concentrate on early-stage venture rounds, showing a commitment to backing companies from their initial growth phases.

This makes Ballistic Ventures an ideal partner for founders building a cybersecurity company from the ground up. If you are seeking investors with specialized knowledge who can provide more than just capital, they are a strong choice.

• Investment stages: Early Stage Venture

• Industries of focus: Cybersecurity, Information Technology

• Founded: 2021

• Portfolio size: 63 investments

• Track record: 6 exits

You can refer to their website here.

4. Defy.vc

Defy.vc is a venture capital firm that concentrates on seed-stage investments in high-potential companies. They partner with founders early to help build foundational businesses from the ground up.

The firm’s investment strategy spans from seed to late-stage rounds, showing they can support companies throughout their growth. Their focus on business development and financial services suggests they bring specific expertise to companies in these sectors.

Defy.vc is a good match for founders at the earliest stages who are looking for a long-term financial partner. If your company operates in financial services or could benefit from strong business development support, they are worth considering.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Business Development, Financial Services, Venture Capital

• Founded: 2016

• Portfolio size: 105 investments

• Track record: 12 exits

You can refer to their website here.

5. Sierra Ventures

Sierra Ventures is a long-standing venture firm that invests globally in early-stage companies. Their primary interest is in next-generation enterprise software and new technologies.

The firm has a clear focus on enterprise technology and invests from seed to late-stage rounds. Their long history, dating back to 1982, suggests deep industry experience and stability.

This firm is a strong potential partner for founders building enterprise software who need an investor for the long term. Their ability to invest across multiple stages means they can provide support from the beginning through to later growth phases.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Enterprise technology, emerging technologies, finance

• Founded: 1982

• Portfolio size: 425 investments

• Track record: 93 exits

• Geographical presence: Global

You can refer to their website here.

6. +ND Capital

+ND Capital is a venture firm that invests in companies operating at the convergence of life and physical sciences. They back businesses built on foundational technologies with the potential to create new markets.

The firm’s defining characteristic is its focus on science-heavy sectors, particularly nanotechnology and related fields. They invest across a company's entire lifecycle, from seed to late-stage rounds, showing they are prepared to be a long-term partner.

This firm is a strong match for founders with deep technical expertise who are building a company based on scientific research. If your work involves complex, interdisciplinary science, their specialized knowledge could be a significant asset.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Nanotechnology, Life Sciences, Physical Sciences

• Founded: 2002

• Portfolio size: 63 investments

• Track record: 12 exits

You can refer to their website here.

7. BlueRun Ventures

BlueRun Ventures is a venture capital firm that concentrates on opportunities in mobile software, services, and financial technology. They seek out companies building new solutions in these high-growth areas.

The firm’s clear focus on mobile and financial technology indicates deep sector knowledge. Their ability to invest from seed to late-stage rounds also shows they are equipped to be a long-term financial partner.

BlueRun Ventures is a good fit if you are a founder in the mobile or fintech sectors. Their multi-stage investment strategy makes them a compelling choice for teams looking for a partner to support them through multiple funding rounds.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Mobile software, Financial Services, FinTech, Information Technology

• Founded: 1998

• Portfolio size: 218 investments

• Track record: 42 exits

You can refer to their website here.

8. Redpoint

Redpoint is a venture capital firm that invests in companies from their earliest stages through to their growth rounds. They back founders across a variety of sectors, including technology, retail, and financial services.

The firm’s approach is defined by its multi-stage investment capability, supporting companies from seed funding all the way to late-stage growth. With a large portfolio and a significant number of exits, they bring extensive experience and a broad network to their partnerships.

Redpoint is a good fit for founders at any point in their journey who are building businesses in the consumer, fintech, or enterprise software spaces. If you are looking for a long-term partner with a history of scaling companies, they are a strong candidate.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Technology, Retail, Finance, Financial Services

• Founded: 1999

• Portfolio size: 791 investments

• Track record: 172 exits

You can refer to their website here.

9. Benchmark

Benchmark is a venture capital firm that primarily invests in early-stage companies. They are well-known for backing founders working in mobile, marketplaces, social, infrastructure, and enterprise software.

The firm's approach is centered on partnering with companies from their initial stages, often leading their first institutional rounds. With a large portfolio and a significant number of successful exits, they have a clear history of helping businesses scale effectively.

Benchmark is a strong potential partner for founders building software-focused companies who are looking for an experienced investor from the beginning. If you are creating a new marketplace or enterprise tool, their expertise could be a major asset.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: Mobile, marketplaces, social, infrastructure, enterprise software

• Founded: 1995

• Portfolio size: 705 investments

• Track record: 194 exits

You can refer to their website here.

10. Forgepoint Capital

Forgepoint Capital is a global venture capital firm that backs early-stage companies building the future of the digital world. They focus on partnering with founders who are creating foundational security and infrastructure technologies.

The firm's investment thesis is heavily concentrated on cybersecurity, along with related information technology and finance sectors. They invest from early to late-stage venture rounds, indicating they are equipped to be a long-term partner as a company scales.

This makes Forgepoint an ideal investor for founders with deep expertise in cybersecurity or enterprise infrastructure. If you are seeking capital from a team with specialized operational and industry knowledge, they are a strong candidate to consider.

• Investment stages: Early Stage Venture, Late Stage Venture

• Industries of focus: Cyber Security, Information Technology, Finance, Financial Services

• Founded: 2015

• Portfolio size: 70 investments

• Track record: 17 exits

• Geographical presence: Global

You can refer to their website here.

11. Phoenix Venture Partners

Phoenix Venture Partners (PVP) is a venture capital firm that invests in and partners with entrepreneurs to commercialize breakthrough materials science innovations. They focus on backing companies built on foundational scientific discoveries.

The firm’s defining characteristic is its exclusive focus on advanced materials, a highly specialized field. They invest across a company's lifecycle, from seed and convertible notes to late-stage rounds, showing they are prepared to be a long-term partner.

This makes PVP an excellent match for founders with a deep background in materials science who are looking for a specialized investor. If your company is turning a scientific innovation into a commercial product, their expertise could be invaluable.

• Investment stages: Seed, Convertible Note, Early Stage Venture, Late Stage Venture

• Industries of focus: Advanced Materials

• Founded: 2010

• Portfolio size: 47 investments

• Track record: 6 exits

You can refer to their website here.

12. DNX Ventures

DNX Ventures is an early-stage venture capital firm that invests in B2B startups. They focus on companies building technologies that are shaping how industries operate and how people work.

The firm’s most distinct characteristic is its deep expertise in bridging the US and Japanese markets, helping B2B companies expand globally. They primarily invest from seed to Series B and provide hands-on support to their portfolio companies.

DNX is an ideal partner for founders of B2B startups, especially those with ambitions to enter the Japanese market. If you are seeking an investor with operational experience and strong international connections, they are a compelling choice.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture

• Industries of focus: B2B startups, including SaaS, AI, cloud, fintech, and cybersecurity

• Geographical presence: US-Japan cross-border focus

• Founded: 2011

• Portfolio size: 276 investments

• Track record: 40 exits

You can refer to their website here.

What This Tells Us About San Mateo's VC Scene

The venture capital firms in San Mateo represent a well-balanced market for founders at different points in their journey. While some investors concentrate on a single stage, many firms on this list are multi-stage. This means they can provide continuous support from an initial seed round through later growth phases, making them valuable long-term partners.

The market also shows a healthy diversity in sector focus. Alongside a strong presence in enterprise software and fintech, you will find specialist investors dedicated to deep tech fields like advanced materials and life sciences. For you as a founder, this indicates that whether you are building a broad B2B platform or a highly technical product, there are knowledgeable financial partners in San Mateo to approach.

Raise Confidently with Rho

Having a focused list of relevant investors is key when time and energy are limited during a fundraise. It allows you to direct your efforts toward the partners who are the best fit for your company.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines. Our team provides a fast, guided process to help you secure the right financing for your goals.

Once capital is secured, our integrated platform helps you manage and deploy funds efficiently. We provide business banking, corporate cards, and automated bill pay all in one place.

FAQs about Venture Capital Firms in San Mateo

What are the top SaaS venture capital firms in San Mateo?

Many San Mateo VCs, including Redpoint and Benchmark, focus on enterprise software and SaaS. Your best approach is to research their portfolios to see if they have invested in companies similar to yours in terms of product and market.

Are there biotech venture capital firms in San Mateo?

Yes, firms like +ND Capital invest in life sciences, which often includes biotech. The Bay Area is a major hub for this sector, so you will find many specialized investors focusing on health tech and medical innovations.

How do I find pre-seed VC firms in San Mateo?

Beyond our list, you can find pre-seed firms through networking events, startup directories, and by researching the investors of companies you admire. Focus on firms that explicitly state a pre-seed or seed investment thesis on their websites.

What is the difference between venture capital and private equity firms?

Venture capital firms typically invest in early-stage, high-growth startups for minority stakes. Private equity firms usually acquire majority control of more mature, established companies, often using significant debt to finance the purchase.

Are there social impact venture capital firms in the area?

While many firms now consider ESG factors, dedicated social impact VCs are a smaller niche. You may need to broaden your search to the greater Bay Area to find investors with a primary focus on social or environmental missions.

How can Rho help with venture capital financing for startups?

Our team connects you with non-dilutive funding options like venture debt to complement your equity raise. Once funded, our platform helps you manage capital with integrated banking, cards, and AP automation. Learn more at Rho.