Background Capital is a pre-seed to growth stage investment firm based in San Francisco, California, United States. It has made 8 investments, with focus areas including E-Commerce & Marketplace, Consumer, Legal, AI, Climate & Energy, Fintech, HR & Talent. They made 3 investments in the last 12 months. Their most common stage is series-a (50% of deals). Average disclosed round size is $12.6M (across 7 rounds with reported amounts).
Portfolio
8
Fund Size
—
Top Stage
Series A
Last 12 Mo
3
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
8 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| OOctober's Very Own (OVO) | Growth | — | Jan 2026 |
 GitLaw | Pre-Seed | $3M | Nov 2025 |
 AudioShake | Series A | $14M | Oct 2025 |
 Tundra | Series B | $26M | Oct 2021 |
 Aalto | Series A | $13M | Aug 2021 |
 Settle | Series A | $15M | May 2021 |
| Tundra | Series A | $12M | Jun 2019 |
 Free Agency | Seed | $5.3M | — |
Top Co-Investors
Redpoint Ventures2 shared
Initialized Capital2 shared
Peterson Ventures2 shared
Shine1 shared
Thomson Reuters Ventures1 shared
Origin Ventures1 shared
Indicator Ventures1 shared
Precursor Ventures1 shared
Sequoia Capital1 shared
Defy1 shared
Maple VC1 shared
Kleiner Perkins1 shared
Founders Fund1 shared
SciFi1 shared
Caffeinated Capital1 shared
Worklife Ventures1 shared
AngelList1 shared
Emergence Capital1 shared
FJ Labs1 shared
Jackson Square Ventures1 shared
Last updated: 8 March 2026