Underscore.VC Management Company, LLC
Emerging managerSEC exempt reporting adviser (venture capital exemption).
- Website
- https://underscore.vc
- HQ
- MA
Underscore VC is a Boston-based venture capital firm that backs founders applying AI to real-world problems, at Pre-Seed and Seed. The firm lists partners including Lily Lyman, Chris Gardner, and Brian Devaney, along with portfolio companies such as Coda, Kard, Hypernatural, Slang, Mable, Goldcast, CloudZero, Pagos, and Movemint.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Pre-seed, Seed | Not enough dated deals | Seed, Series A |
| Sectors | Not stated | Not enough dated deals | Enterprise SaaS, Hardware, Devtools, Ecommerce, AI applications, Crypto and Web3, Data analytics, Fintech |
| Regions | MA | Not enough dated deals | MA |
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 |
|---|---|---|
| 2016 | 4 | Enterprise SaaS, Devtools, AI applications |
| 2017 | 6 | Enterprise SaaS, Devtools, Ecommerce |
| 2018 | 9 | Enterprise SaaS, Ecommerce, Crypto and Web3 |
| 2019 | 5 | Hardware, AI applications, Enterprise SaaS |
| 2020 | 6 | Hardware, AI applications, Biotech |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2016 | 0 | 2 | 1 | 0 | 0 |
| 2017 | 0 | 3 | 1 | 0 | 1 |
| 2018 | 0 | 3 | 3 | 1 | 1 |
| 2019 | 1 | 2 | 2 | 0 | 0 |
| 2020 | 1 | 2 | 1 | 0 | 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 |
|---|---|---|---|
| Underscore.VC Fund III, L.P. Underscore VC backs founders applying AI to real-world problems, investing at the Pre-Seed and Seed stages. The firm works hands-on with founders and shares profits with an expert Core Community that supports its startups. Inferred from the firm's website | 2023 | $58.24M (Form D) | Open, writing first checks |
| Underscore.VC Fund II Extension, L.P. Underscore VC backs founders applying AI to real-world problems, investing at the Pre-Seed and Seed stages. The firm works hands-on with founders and shares profits with an expert Core Community that supports its startups. Inferred from the firm's website | 2022 | $18.04M (Form D) | Late investment period |
03 · People across funds
- Christopher Gardner, Managing Member of the General Partner
Underscore.VC Fund III, L.P. (Named on Form D)
- James Orsillo, Venture Partner
Underscore.VC Fund III, L.P. (Named on Form D); Underscore.VC Fund II Extension, L.P. (Team)
- John Pearce, Partner Emeritus
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Named on Form D)
- Michael Skok, Partner Emeritus
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Named on Form D)
- Olivia Lyman, Managing Member of the General Partner
Underscore.VC Fund III, L.P. (Named on Form D)
- Richard Dulude, Venture Partner
Underscore.VC Fund III, L.P. (Named on Form D); Underscore.VC Fund II Extension, L.P. (Team)
- Brian Devaney, Partner
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Team)
- Chris Gardner, Partner
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Team)
- Gabrielle McCarthy, Senior Investment Associate
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Team)
- Jeremiah Brazeau, Venture Advisor
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Team)
- Lily Lyman, Partner
Underscore.VC Fund III, L.P. (Team); Underscore.VC Fund II Extension, L.P. (Team)
- Claire Crowther, Vice President, Strategy & Operations
On the team page, not linked to a fund
- Devin Nash, Vice President, Brand & Experience
On the team page, not linked to a fund
- Kate DeVlieger, Executive Business Associate
On the team page, not linked to a fund
- Marco Rosario, Operations Manager & Executive Assistant
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://underscore.vc
- https://underscore.vc/
- https://underscore.vc/portfolio/
- https://underscore.vc/team/
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026