Investor Profile: Active Capital — Thesis, Cheque Size & How to Apply

Active Capital is a founder led, pre-seed venture firm based in San Antonio, Texas, that backs technical founders rebuilding business software and cloud infrastructure for an AI native world. For founders asking how to get funding from Active Capital, the starting point is simple: the firm wants to be one of the first investors in, not a late follower.

Investment thesis

The thesis is deliberately narrow. Active Capital invests at the intersection of software, cloud infrastructure and artificial intelligence, with a preference for founders who have built before or understand their customers deeply. The firm says it is equally comfortable leading a round or investing alongside other good investors, and it aims to stay involved until product market fit is clear.

Sectors and stages

Sectors are centred on business software, cloud infrastructure, developer tools, data infrastructure and AI powered enterprise products. The firm invests across the United States, often in cities outside Silicon Valley, and describes itself as backing ambitious founders in underdog cities as well as in established hubs such as San Francisco and Austin.

Fund size and cheque size

Active Capital closed a $21.5 million debut fund in 2019 and a $28 million third fund, Fund III, focused on pre-seed enterprise AI and cloud infrastructure. Reporting in 2025 put total assets under management at more than $100 million across three funds and related special purpose vehicles.

Notable portfolio

Portfolio names cited by the firm and by Crunchbase reporting include ProsperOps, an autonomous cloud cost optimisation platform, Schematic, a pricing and packaging platform for software companies, Sendspark, a video messaging product, Finmark, a financial planning tool, and Favor, a delivery company. Other names reported across its history include Teleport and ConductorOne. Several portfolio companies have been acquired, including RemoteTeam by Gusto and VidGrid by Paylocity.

Partners and team

The firm is led by founder and chief executive Pat Matthews. Its published team also includes co-founder and chief financial officer Cat Dizon, partner and investor Chris Saum, and AI engineer Huey Ly.

Programs and perks

Active Capital does not advertise a formal accelerator or credits programme on its site. Its stated support is hands on: monthly touchpoints, coaching through difficult decisions, introductions and help reaching product market fit. Founders should therefore judge the firm on partner access and operating help, not on a packaged perks bundle.

How to apply for funding

The firm says warm introductions and cold emails are always welcome, and its site states that email is best, at [email protected]. Founders raising a pre-seed round should send a short, specific note: what you are building, why now, who the customer is, and what traction you already have.