# Liquid 2 Ventures

> Liquid 2 Ventures is a San Francisco venture capital firm founded in 2015 by Joe Montana, Michael Ma and Michael Miller. It backs technology companies globally at pre-seed and seed, with a separate growth strategy beginning at Series B. Its proposition combines collaborative checks with customer introductions, fundraising help and access to an extensive founder network.

- **Founded:** 2015
- **Headquarters:** San Francisco, United States
- **Founders:** Joe Montana (Co-founder and Managing Partner), Michael Ma (Co-founder and Partner), Michael Miller (Co-founder and Partner)
- **Products:** Early-stage investment, Growth-stage investment, Founder network and operating support
- **Notable:** The firm announced an $80 million Fund III close in December 2021, above its $75 million target., Its portfolio page reports more than 800 companies., Its homepage, reviewed October 2026, reports 40+ seeded unicorns and $250 billion+ enterprise value; these are firm-reported portfolio metrics, not fund returns.

## Products & services

- **Early-stage investment** — Pre-seed and seed technology investments; the firm lists a median check range of $250,000-$500,000.
- **Growth-stage investment** — Investment beginning at Series B, with typical checks of $2 million-$5 million.
- **Founder network and operating support** — Customer and investor introductions, recruiting connections, fundraising guidance and operating advice for portfolio founders.

## Achievements

- The firm announced an $80 million Fund III close in December 2021, above its $75 million target.
- Its portfolio page reports more than 800 companies.
- Its homepage, reviewed October 2026, reports 40+ seeded unicorns and $250 billion+ enterprise value; these are firm-reported portfolio metrics, not fund returns.
- Public portfolio companies include GitLab, Rippling, Applied Intuition, Mercury, Anduril, Solugen and Stoke Space.

## Latest updates

- **2026-03** — depthfirst named Liquid 2 among existing investors participating in an $80 million Series B led by Meritech Capital; the round total is not Liquid 2’s individual contribution.
- **2026-10** — Website review: the homepage displays 40+ seeded unicorns and $250 billion+ enterprise value; the separate portfolio page still displays older, lower enterprise-value figures.

## Links

- Website: https://www.liquid2.vc/
- LinkedIn: https://www.linkedin.com/company/liquid-2-ventures/
- Twitter/X: https://twitter.com/Liquid2V

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Profile page: https://yespress.io/liquid-2-ventures
Published by YesPress — https://yespress.io
Last updated: 2026-10-27