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

Getting Launchbay Capital funding looks different from pitching a typical venture fund, because this London firm specialises in secondaries: buying stakes in already-proven, growth-stage technology companies. Launchbay Capital is a multi-stage investment firm committed to creating liquidity in the venture ecosystem, through a secondary investment fund and a direct investment platform.

Investment thesis

The thesis is owning the winners, not the tail. Launchbay Capital says it skips the early-stage J-curve and invests after the winners are already clear, taking secondary stakes in proven category leaders. It uses a data-driven valuation methodology to be transparent on price, with active management of entries and exits and distributions targeted within a two-year harvest window on its platform.

Sectors, stages and cheque size

The firm's secondary growth fund, first closed in January 2024, targets a total of $100 million, with more than 25% committed by early investors at first close. Individual secondary investments are reported in the $2 million to $10 million range, aimed at growth-stage companies, typically with revenue above $50 million. Its investment period is four years, far shorter than a traditional venture fund's decade-plus life. As reported in January 2024, the firm managed more than $300 million across more than 55 privately held technology companies.

Notable portfolio

The firm's published portfolio page lists secondary holdings including Anthropic, the artificial intelligence research company behind the Claude family of models; Applied Intuition, simulation software for autonomous vehicles; Carta, the equity ownership management platform; Cohere, the enterprise artificial intelligence platform; Crusoe, cloud and artificial intelligence infrastructure; Cyberhaven, artificial intelligence data protection; Erebor, a digital-first bank for startups; Fin, an artificial intelligence customer support agent; and Fluidstack and Hydra Host, both in graphics processing unit cloud infrastructure. The team's earlier track record, cited in fund announcements, includes early investments in Klarna, Lemonade and Monday.com.

Partners and team

Alan Vaksman is the founding partner of Launchbay Capital and the public voice of the secondary growth fund, arguing that investors no longer want money tied up for decades without valuation transparency or returns in sight. It was rebranded from Digital Horizon, its former name as a primarily early-stage venture firm.

Programmes run

Launchbay Capital does not run a founder accelerator programme, and founders should not approach it as one. What it does run is a co-investment platform: members are invited to co-invest in leading technology companies alongside funds managed by the firm, with deal sourcing, structuring, legal due diligence and special purpose vehicle administration handled by the investment team. Traditional secondary investments are typically in the $1-2m range, and the platform aims to offer access at a lower entry point.

How to apply for funding from Launchbay Capital

There is no published founder pitch form for primary funding, because Launchbay Capital is principally a secondary investor rather than a first-cheque venture fund. Founders, employees or existing shareholders exploring a secondary sale, and investors interested in co-investment, should approach the firm through its official site at launchbaycapital.com and its investment platform there. Early-stage founders seeking a first institutional round will generally be a poor fit, and should be clear about whether they are seeking primary capital or liquidity for existing shares.