Portfolio
We are early and deliberately concentrated. Below are companies that define each layer we back. They are references for the kind of business that gets stronger as models improve, not current holdings.
Representative of the categories we back. Not current Layer H holdings.
Read how we underwrite01 / Vertical Intelligence
End to end legal AI for firms and corporate legal teams.
Owns the workflow, the data, and the trust relationship a better model only deepens.
Backed by the OpenAI Startup Fund and Sequoia; used across global law firms.
02 / Physical AI
Simulation, data, and autonomy software for automakers and defense.
The infrastructure layer every autonomous program depends on, agnostic to which machine wins.
Works with a majority of the world's largest automakers.
03 / Agentic Commerce
Identity and payments for AI agents.
Sits at the authorization and settlement layer every agent transaction must pass through.
Backed by a16z CSX and Coinbase Ventures; a Visa Intelligent Commerce partner.
The bar
Proprietary data, a system of record, a regulatory license, or the distribution. Not a prompt and a UI.
Vertical Intelligence, Physical AI, or Agentic Commerce. If it does not, it is not for us.
The single question. If a more capable model erases it, we pass, however good the traction looks.