Costanoa Ventures
SEC exempt reporting adviser (venture capital exemption).
- Website
- https://www.costanoa.vc
- HQ
- CA
Costanoa Ventures leads seed and Series A rounds, backing teams that aim to solve big problems in complex, high-impact markets. Its portfolio includes Cape, a private and secure mobile carrier; Comun, a digital bank for immigrant families in the US; Lively, an HSA platform for employers and individuals; Muon Space, which builds small satellites for climate-related measurements; and Pathwork, which is reimagining life insurance distribution with AI.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Pre-seed, Seed, Series A, Growth | Not enough dated deals | Series A, Seed, Series B, Growth |
| Sectors | AI infra, AI applications, Cybersecurity, Data analytics, Fintech, Aerospace and defense | Not enough dated deals | Enterprise SaaS, Data analytics, AI applications, Cybersecurity, Ecommerce, Devtools |
| 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 |
|---|---|---|
| 2009 | 1 | Data analytics, Media |
| 2010 | 1 | AI applications, Media |
| 2012 | 8 | Data analytics, Enterprise SaaS, Cybersecurity |
| 2013 | 12 | Data analytics, Enterprise SaaS, AI applications |
| 2014 | 10 | Enterprise SaaS, Data analytics, Consumer |
| 2015 | 14 | Enterprise SaaS, Data analytics, Ecommerce |
| 2016 | 8 | Enterprise SaaS, Cybersecurity, Construction and proptech |
| 2017 | 8 | AI applications, Data analytics, Ecommerce |
| 2018 | 13 | Enterprise SaaS, AI applications, Cybersecurity |
| 2019 | 21 | AI applications, Cybersecurity, Enterprise SaaS |
| 2020 | 7 | Enterprise SaaS, AI applications, Cybersecurity |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2010 | 0 | 0 | 0 | 1 | 0 |
| 2011 | 0 | 0 | 0 | 0 | 0 |
| 2012 | 0 | 2 | 1 | 0 | 0 |
| 2013 | 0 | 2 | 3 | 2 | 3 |
| 2014 | 0 | 0 | 3 | 1 | 4 |
| 2015 | 1 | 1 | 5 | 4 | 1 |
| 2016 | 0 | 0 | 3 | 3 | 1 |
| 2017 | 0 | 3 | 4 | 1 | 0 |
| 2018 | 0 | 5 | 3 | 3 | 2 |
| 2019 | 0 | 7 | 9 | 2 | 2 |
| 2020 | 0 | 2 | 3 | 2 | 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 |
|---|---|---|---|
| Costanoa LA Early, L.P. Costanoa leads seed and Series A rounds, backing teams solving big problems in complex, high-impact markets. Focus areas include applied AI, AI and data, infrastructure, cybersecurity, national security, and fintech. Inferred from the firm's website | 2026 | $50M (Form D) | Open, writing first checks |
| Costanoa LA Growth, L.P. Costanoa leads seed and Series A rounds, backing teams solving big problems in complex, high-impact markets. Focus areas include applied AI, AI and data, infrastructure, cybersecurity, national security, and fintech. Inferred from the firm's website | 2026 | $50M (Form D) | Open, writing first checks |
| Costanoa Ascent Fund IV, L.P. Costanoa leads seed and Series A rounds, backing teams solving big problems in complex, high-impact markets. Focus areas include applied AI, AI and data, infrastructure, cybersecurity, national security, and fintech. Inferred from the firm's website | approx. 2026 | $150M (Form D) | Raising |
| Costanoa Ventures VI, L.P. Costanoa leads seed and Series A rounds, backing teams solving big problems in complex, high-impact markets. Focus areas include applied AI, AI and data, infrastructure, cybersecurity, national security, and fintech. Inferred from the firm's website | approx. 2026 | $300M (Form D) | Raising |
| Costanoa Ventures V, L.P. Costanoa leads seed and Series A rounds, backing teams solving big problems in complex, high-impact markets. Focus areas include applied AI, AI and data, infrastructure, cybersecurity, national security, and fintech. Inferred from the firm's website | approx. 2023 | $225M to $258.37M (Form D and SEC adviser filing) | Open, writing first checks |
| Costanoa Ventures IV, L.P. | 2020 | $225M to $242.57M (Form D and SEC adviser filing) | Follow-ons only |
03 · People across funds
- Gregory Sands, Managing Director of the General Partner of the Issuer
Costanoa LA Early, L.P. (Named on Form D); Costanoa LA Growth, L.P. (Named on Form D); Costanoa Ascent Fund IV, L.P. (Named on Form D); Costanoa Ventures VI, L.P. (Named on Form D); Costanoa Ventures V, L.P. (Named on Form D); Costanoa Ventures IV, L.P. (Named on Form D)
- John Cowgill, Partner
On the team page, not linked to a fund
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- https://www.costanoa.vc
- https://www.costanoa.vc/
- https://www.costanoa.vc/portfolio/lively-is-a-modern-health-savings-account-hsa-plat
- https://www.costanoa.vc/portfolio/cape-was-founded-by-mission-oriented-privacy-belie
- https://www.costanoa.vc/our-approach
- https://www.costanoa.vc/portfolio/comun
- https://www.costanoa.vc/portfolio/muon-spaces-small-satellites-focus-on-dense-scient
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026