Commerce Ventures
SEC exempt reporting adviser (venture capital exemption).
- Website
- HTTP://WWW.COMMERCE.VC
- HQ
- CA
Commerce Ventures is an investor that partners with early-stage, pioneering companies. The firm says these companies benefit from its thematic focus and deep industry network. Its portfolio named in the facts includes Bureau, Canary Technologies, Flueid, Mudflap, Zeal and Zentist.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Seed, Series A | Not enough dated deals | Series A, Seed, Series B, Growth |
| Sectors | Fintech, Insurtech, Ecommerce | Not enough dated deals | Fintech, Enterprise SaaS, Ecommerce, Hardware, AI applications, Data analytics |
| Regions | Not stated | Not enough dated deals | CA, NY |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2012 | 1 | Media |
| 2013 | 8 | Data analytics, Enterprise SaaS, Fintech |
| 2014 | 15 | Ecommerce, Enterprise SaaS, Fintech |
| 2015 | 13 | Fintech, Ecommerce, Enterprise SaaS |
| 2016 | 11 | Fintech, Ecommerce, Enterprise SaaS |
| 2017 | 13 | Fintech, Enterprise SaaS, AI applications |
| 2018 | 9 | Fintech, Enterprise SaaS, Insurtech |
| 2019 | 14 | AI applications, Fintech, Ecommerce |
| 2020 | 2 | Fintech, Crypto and Web3, Enterprise SaaS |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2012 | 0 | 0 | 1 | 0 | 0 |
| 2013 | 0 | 4 | 0 | 1 | 3 |
| 2014 | 0 | 6 | 4 | 2 | 1 |
| 2015 | 0 | 5 | 3 | 1 | 4 |
| 2016 | 0 | 3 | 2 | 1 | 3 |
| 2017 | 0 | 1 | 4 | 3 | 1 |
| 2018 | 0 | 2 | 6 | 1 | 0 |
| 2019 | 1 | 0 | 4 | 6 | 2 |
| 2020 | 0 | 0 | 0 | 1 | 0 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Commerce Ventures V, L.P. Commerce Ventures backs early-stage, pioneering entrepreneurs building platforms for the future of retail and financial services. Its portfolio spans retail tech, payment tech, insurance tech and banking tech, with thematic focus areas such as stablecoins, agentic commerce and AI for accounting. Inferred from the firm's website | approx. 2024 | $10M (Form D) | Open, writing first checks |
| Commerce Ventures V-A, L.P. Commerce Ventures backs early-stage, pioneering entrepreneurs building platforms for the future of retail and financial services. Its portfolio spans retail tech, payment tech, insurance tech and banking tech, with thematic focus areas such as stablecoins, agentic commerce and AI for accounting. Inferred from the firm's website | 2023 | $10.95M to $13.5M (Form D) | Open, writing first checks |
| Commerce Ventures V, L.P. Commerce Ventures backs early-stage, pioneering entrepreneurs building platforms for the future of retail and financial services. Its portfolio spans retail tech, payment tech, insurance tech and banking tech, with thematic focus areas such as stablecoins, agentic commerce and AI for accounting. Inferred from the firm's website | 2023 | $140.01M (Form D) | Open, writing first checks |
| CV III FP, LLC Commerce Ventures backs early-stage, pioneering entrepreneurs building platforms for the future of retail and financial services. Its portfolio spans retail tech, payment tech, insurance tech and banking tech, with thematic focus areas such as stablecoins, agentic commerce and AI for accounting. Inferred from the firm's website | 2022 | $6.64M (Form D) | Late investment period |
| CV Access, L.P. Commerce Ventures backs early-stage, pioneering entrepreneurs building platforms for the future of retail and financial services. Its portfolio spans retail tech, payment tech, insurance tech and banking tech, with thematic focus areas such as stablecoins, agentic commerce and AI for accounting. Inferred from the firm's website | 2022 | $11M to $11.03M (Form D and SEC adviser filing) | Late investment period |
| CV II Protect E, LLC | 2021 | $6.1M (Form D) | Follow-ons only |
| Commerce Ventures IV-A, L.P. | 2021 | $13.31M to $13.88M (Form D) | Follow-ons only |
| Commerce Ventures IV, L.P. | 2021 | $137.75M (Form D) | Follow-ons only |
| CV Strong F, LLC | 2021 | $6.5M (Form D) | Follow-ons only |
| CV III GBG, LLC | 2021 | $5M (Form D) | Follow-ons only |
| CV II Billing, LLC | 2020 | $10M (Form D) | Follow-ons only |
03 · People across funds
- Dan Rosen, Managing Member of the Managing Member
Commerce Ventures IV-A, L.P. (Named on Form D); Commerce Ventures IV, L.P. (Named on Form D); CV Strong F, LLC (Named on Form D); CV III GBG, LLC (Named on Form D); CV II Billing, LLC (Named on Form D)
- Daniel Rosen, Managing Member of the General Partner
Commerce Ventures V, L.P. (Named on Form D); Commerce Ventures V-A, L.P. (Named on Form D); Commerce Ventures V, L.P. (Named on Form D); CV III FP, LLC (Named on Form D); CV Access, L.P. (Named on Form D); CV II Protect E, LLC (Named on Form D)
- Matt Nichols, Managing Member of the General Partner
Commerce Ventures V, L.P. (Named on Form D); Commerce Ventures V-A, L.P. (Named on Form D); Commerce Ventures V, L.P. (Named on Form D); CV III FP, LLC (Named on Form D); CV Access, L.P. (Named on Form D); CV II Protect E, LLC (Named on Form D); Commerce Ventures IV-A, L.P. (Named on Form D); Commerce Ventures IV, L.P. (Named on Form D); CV Strong F, LLC (Named on Form D); CV III GBG, LLC (Named on Form D); CV II Billing, LLC (Named on Form D)
- Ysbrant Marcelis, Managing Member of the General Partner
Commerce Ventures V, L.P. (Named on Form D); Commerce Ventures V-A, L.P. (Named on Form D); Commerce Ventures V, L.P. (Named on Form D)
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026