Initialized Capital Management, LLC
SEC exempt reporting adviser (venture capital exemption).
- Website
- HTTP://INITIALIZED.COM
- HQ
- CA
Initialized is an early stage venture capital firm that leads pre-seed and seed rounds and works closely with founders toward product market fit and a Series A. Its team includes Managing Partner Brett Gibson, Partners Abdul Ly, Kim-Mai Cutler and Zoe Perret, and Founder and Board Partner Garry Tan.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Pre-seed, Seed | Not enough dated deals | Seed, Series A, Series B |
| Sectors | Not stated | Not enough dated deals | Enterprise SaaS, Ecommerce, Fintech, AI applications, Logistics |
| 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 | Construction and proptech, Enterprise SaaS |
| 2013 | 7 | Ecommerce, Fintech, Media |
| 2014 | 12 | AI applications, Enterprise SaaS, Mobility |
| 2015 | 8 | Logistics, Ecommerce, Enterprise SaaS |
| 2016 | 12 | Enterprise SaaS, Data analytics, HR and future of work |
| 2017 | 28 | Ecommerce, Enterprise SaaS, Logistics |
| 2018 | 31 | Enterprise SaaS, AI applications, Data analytics |
| 2019 | 39 | Enterprise SaaS, Fintech, Ecommerce |
| 2020 | 15 | Fintech, Crypto and Web3, Devtools |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2012 | 0 | 1 | 0 | 0 | 0 |
| 2013 | 0 | 5 | 1 | 0 | 0 |
| 2014 | 0 | 7 | 2 | 1 | 0 |
| 2015 | 0 | 3 | 2 | 0 | 0 |
| 2016 | 0 | 7 | 1 | 2 | 0 |
| 2017 | 1 | 13 | 9 | 3 | 1 |
| 2018 | 0 | 13 | 8 | 6 | 0 |
| 2019 | 2 | 19 | 11 | 4 | 2 |
| 2020 | 1 | 5 | 6 | 1 | 1 |
| 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 |
|---|---|---|---|
| Initialized VII Associates L.P. Initialized is an early stage venture capital firm that invests across all sectors, leading pre-seed and seed rounds and working closely with founders on their path to product market fit and a Series A. It focuses on founders working on hard problems. Inferred from the firm's website | 2025 | $5M to $10M (Form D) | Raising |
| Initialized VII L.P. Initialized is an early stage venture capital firm that invests across all sectors, leading pre-seed and seed rounds and working closely with founders on their path to product market fit and a Series A. It focuses on founders working on hard problems. Inferred from the firm's website | 2025 | $114.35M to $150M (Form D) | Raising |
| Initialized Superclass II L.P. Initialized is an early stage venture capital firm that invests across all sectors, leading pre-seed and seed rounds and working closely with founders on their path to product market fit and a Series A. It focuses on founders working on hard problems. Inferred from the firm's website | 2021 | $170M (Form D) | Late investment period |
| Initialized VI Associates L.P. Initialized is an early stage venture capital firm that invests across all sectors, leading pre-seed and seed rounds and working closely with founders on their path to product market fit and a Series A. It focuses on founders working on hard problems. Inferred from the firm's website | 2021 | $10M (Form D) | Late investment period |
| Initialized VI L.P. Initialized is an early stage venture capital firm that invests across all sectors, leading pre-seed and seed rounds and working closely with founders on their path to product market fit and a Series A. It focuses on founders working on hard problems. Inferred from the firm's website | 2021 | $520M (Form D) | Late investment period |
| Initialized Robin HBF LLC | 2021 | $13.6M to $22.37M (Form D and SEC adviser filing) | Follow-ons only |
| Initialized V Associates L.P. | approx. 2020 | $10M (Form D) | Follow-ons only |
| Initialized V L.P. | approx. 2020 | $231.85M (Form D) | Follow-ons only |
03 · People across funds
- Brett Gibson, Managing Partner
Initialized VII Associates L.P. (Named on Form D); Initialized VII L.P. (Named on Form D); Initialized Superclass II L.P. (Team); Initialized VI Associates L.P. (Team); Initialized VI L.P. (Team); Initialized Robin HBF LLC (Team); Initialized V Associates L.P. (Team); Initialized V L.P. (Team)
- Garry Tan, Founder & Board Partner
Initialized VII Associates L.P. (Team); Initialized VII L.P. (Team); Initialized Superclass II L.P. (Named on Form D); Initialized VI Associates L.P. (Named on Form D); Initialized VI L.P. (Named on Form D); Initialized Robin HBF LLC (Named on Form D); Initialized V Associates L.P. (Named on Form D); Initialized V L.P. (Named on Form D)
- Abdul Ly, Partner
Initialized VII Associates L.P. (Team); Initialized VII L.P. (Team); Initialized Superclass II L.P. (Team); Initialized VI Associates L.P. (Team); Initialized VI L.P. (Team); Initialized Robin HBF LLC (Team); Initialized V Associates L.P. (Team); Initialized V L.P. (Team)
- Kim-Mai Cutler, Partner
Initialized VII Associates L.P. (Team); Initialized VII L.P. (Team); Initialized Superclass II L.P. (Team); Initialized VI Associates L.P. (Team); Initialized VI L.P. (Team); Initialized Robin HBF LLC (Team); Initialized V Associates L.P. (Team); Initialized V L.P. (Team)
- Zoe Perret, Partner
Initialized VII Associates L.P. (Team); Initialized VII L.P. (Team); Initialized Superclass II L.P. (Team); Initialized VI Associates L.P. (Team); Initialized VI L.P. (Team); Initialized Robin HBF LLC (Team); Initialized V Associates L.P. (Team); Initialized V L.P. (Team)
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