Investor Profile: Uncorrelated Ventures — Thesis, Cheque Size & How to Apply

If you are raising capital and researching how to get funding from Uncorrelated Ventures, this profile is your starting point. Uncorrelated Ventures is a Seed, Series A investor focused on infrastructure software, open source / developer tools, AI, fintech, health tech, blockchain / crypto / Web3, biotech, with $700M+ in assets under management; latest fund $315M (reported January 2024). Below: its thesis in its own terms, what it looks for, the companies it has backed, and the practical route founders use to get a pitch in front of the team.

Uncorrelated Ventures funding: the investment thesis

A solo-GP venture firm (founded by Salil Deshpande in 2020 after his departure as Managing Director of Bain Capital) that invests in infrastructure — software and hardware. The latest fund allocates ~80% to early-stage traditional software and ~20% to crypto startups, backing real technology with real use cases rather than overhyped narratives.

The firm focuses on sectors less correlated with macroeconomic cycles: infrastructure software, open source, developer tools, blockchain, AI, and biotech.

For founders, the practical read is simple: Uncorrelated Ventures is not a spray-and-pray shop. Its public positioning centres on infrastructure software, open source / developer tools, AI, fintech, health tech, blockchain / crypto / Web3, biotech at the Seed, Series A stage level, so a pitch lands only when your company sits squarely inside that mandate. Study the portfolio pattern below before you write the first email.

Cheque size and fund firepower

Uncorrelated Ventures has publicly disclosed $700M+ in assets under management; latest fund $315M (reported January 2024). That scale tells you two things: the firm can lead rounds rather than only follow, and it has the reserves to support winners in follow-ons. Founders should size their ask to the stage the firm plays at — Seed, Series A stage — rather than to the headline fund number.

Sectors and stages

The firm invests across infrastructure software, open source / developer tools, AI, fintech, health tech, blockchain / crypto / Web3, biotech, and its sweet spot is the Seed, Series A stage. If your startup sits outside those sectors, this is not your investor — a focused mandate cuts both ways. If you are inside it, you are speaking to a team that sees dozens of comparable companies a year and will benchmark you against them.

Notable portfolio companies

Companies associated with Uncorrelated Ventures in public sources include:

• Compound
• Cosmos
• dYdX
• Helium
• Uniswap
• Databricks
• Salesforce
• Reo.Dev

The names matter less than the pattern: look for the stage, sector and business model the firm repeats. If your company rhymes with three or more of these, you have a credible reason to be in the inbox.

Partners, programs and perks

People named in public sources: Salil Deshpande (Founder, General Partner, solo GP). Founder-to-partner fit matters — find the partner whose portfolio looks most like you.

How to apply for funding

To pitch Uncorrelated Ventures: unverified (official site is a minimal splash page with no published pitch route)

Whichever route you use, lead with the one-line fit: stage, sector, traction. Partners at focused firms triage on mandate fit first and everything else second.