Cleo Capital

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Overview

Cleo Capital is a generalist venture capital firm founded in 2018, focusing on early-stage investments in software companies with multi-billion-dollar potential, primarily pre-seed and seed stages.¹² It targets sectors aligned with three theses: future of income, complicated consumer, and decentralized enterprise, including fintech, healthtech, web3, and creator economy, with check sizes of $100K to $1M.¹² The firm has backed over 40 startups and emphasizes support for underrepresented founders.¹²

History

Cleo Capital was founded in 2018 by Sarah Kunst, who serves as general partner.¹² It raised a $3.5M scout fund to back female investors sourcing and leading deals.⁶ Key investments include Ellevest, Hill House Home, FalconX, Planet Forward, and Kobold Metals, with the last recorded in October 2024.¹² The firm manages three closed funds, including Cleo Opportunity Fund closed in February 2023.⁴

Notable Products

Cleo Opportunity Fund - Closed fund from February 2023 focused on investment opportunities.
Scout Fund - $3.5M fund backing female investors who source and lead deals.

Reputation

Cleo Capital is recognized for its focus on underrepresented founders and early-stage software investments, with Sarah Kunst noted as a top innovator in venture capital.¹ Professionals highlight its portfolio diversity across fintech, consumer, and enterprise sectors.¹² It receives positive mentions for long-term founder guidance, though specific criticisms are not detailed in available sources.¹

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