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

Founders researching Tola Capital funding are looking at one of the most operator-heavy enterprise software firms in venture. Founded in 2010 in Seattle by Sheila Gulati — the former Microsoft executive who led enterprise IT strategy and launched the Azure cloud platform — Tola Capital has raised three funds totalling $688 million and invests exclusively in enterprise software, now with AI at the centre of every thesis.

Tola Capital funding thesis

The firm's own words: it partners with founders building 'the next generation of intelligence companies'. Tola invests in provocative ideas that show what becomes possible because AI exists, often in early-stage rounds before traditional signals emerge, backing founders with enterprise technology experience and diverse teams. It brings decades of startup-to-enterprise operating experience, working as a navigator on product, go-to-market, hiring and finance decisions. Its current AI focus areas include enterprise scaffolding for AI, responsible AI, AI security and application-layer AI.

Fund size & cheque sizes

Three funds totalling $688 million. When its third fund closed, the firm said it would back 25 to 30 companies globally with average cheques of $1 million to $4 million at seed and $5 million to $15 million at Series A and B. Tola invests across multiple stages, from seed to growth.

Notable portfolio

Verified from the firm's own portfolio pages: Tana, SpecStory, Supermetal, Snapsheet, StarLifter AI (founded by Fred Luddy, founder of ServiceNow), Pulumi, Glia, VergeSense, Certora, FeatureByte, PlayerZero and Persona AI. Exits include Clipchamp (acquired by Microsoft), 3scale (acquired by Oracle), Applied Predictive Technologies (acquired by Mastercard), IntSights, Arcus (acquired by Addepar) and Zilla Security.

Team

Sheila Gulati, founder and managing director, is the verified public face, with co-founding partner Stacey Giard (both former Microsoft). The firm states it invests as a team, pooling its collective operator experience on every decision.

Programmes, credits & perks

Tola Capital Magnet is the firm's community platform — a network attracting founders, operators and enterprise leaders shaping intelligence for the enterprise, with events and engagement. Practically, founders get enterprise access (the firm's network opens doors to respected brands ready to pilot with early-stage companies), hiring help for hard-to-source roles, and hands-on GTM support — Tola describes walking portfolio companies into deals by pitching alongside founders.

How to apply for funding from Tola Capital

There is no public application form; the verified route is the firm's official site, tolacapital.com, and direct outreach. Because the team is built from former enterprise operators, introductions through enterprise software founders, former Microsoft colleagues, or co-investors in the AI-infrastructure space carry weight. Come prepared to go deep on the technical details — Gulati has said leaning into technical depth is how Tola identifies winners.