Wave Capital
Emerging managerSEC exempt reporting adviser (venture capital exemption).
- Website
- http://wave.capital/
- HQ
- CA
Wave Capital is a seed fund based in San Francisco. It is run by two equal partners with no staff. The firm leads no more than four investments per year and looks for businesses with a clear mission and founders it would want to work for.
New fund likely raising soon
The firm's newest fund is 4 to 7 years past its first sale and no newer Form D has been filed.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Seed | Not enough dated deals | None |
| Sectors | Not stated | Not enough dated deals | None |
| Regions | Not stated | Not enough dated deals | None |
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 |
|---|---|---|
| 2018 | 1 | Digital health, Healthtech |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Wave II, L.P. | 2021 | $54.3M (Form D) | Follow-ons only |
03 · People across funds
- Riley Newman, Managing Director of Wave GP II, LLC, general partner
Wave II, L.P. (Named on Form D)
- Sara Adler, Managing Director of Wave GP II, LLC, general partner
Wave II, L.P. (Named on Form D)
- Riley
Wave II, L.P. (Team)
- Sara
Wave II, 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 25, 2026