The Austin venture firm grew from five software startups into a network connecting founders with investors, customers and the military. Its next chapter separates the investment business from the community that feeds it.
ATX Venture Partners built its name backing Texas software. Its newer thesis is more specific: applied AI that moves through factories, clinics, financial rails and orbit - with operators close enough to help when the software meets the real world.
Since 1982, the San Mateo firm has quietly written first checks into enterprise software - from Intuit to quantum computing - while a standing network of Fortune 1000 executives does the vetting.
Vinod Khosla left a top-tier partnership to write checks nobody else would. Two decades and one $50 million OpenAI bet later, the willingness to be wrong looks like a strategy.
It runs a small firm out of Santa Monica, writes a handful of checks a year, and once turned a $26.5 million CrowdStrike stake into a billion-dollar return. Here is how March Capital plays venture capital like a concentration bet.
Spacecadet writes $100K-$500K checks into frontier science, then hands founders a creative studio built to sell the impossible. Marc Andreessen and Chris Dixon are along for the ride.