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    Cercano Management logo

    Cercano Management

    Bellevue, Washington, United StatesFounded 2003
    cercanolp.comLinkedIn
    Enterprise SoftwareBiotech & Life SciencesHealthcare

    Cercano Management (formerly Vulcan Capital) is the multi-billion-dollar investment management firm that originated as the investment arm of Microsoft co-founder Paul Allen's family office, Vulcan Inc. Spun out in 2021–2022, it now works with ultra-high net worth investors and family foundations, investing across technology, internet, and life sciences.

    Deal activity decreased year-over-year (2 deals in the last 12 months vs 3 prior). Average disclosed round size is $81.2M (across 52 rounds with reported amounts).

    Find people at Cercano Management on Goldilocks AI

    Portfolio

    54

    Fund Size

    —

    Top Stage

    Seed

    Last 12 Mo

    2

    Team

    AH

    Albert Hwang

    Partner, Co-Head of Private Investments

    CO

    Chris Orndorff, CFA

    Partner, Chief Executive Officer, Co-Chief Investment Officer

    JS

    Joel Shoop, CPA

    Partner, Chief Financial Officer

    MB

    Michelle Brant

    Partner, Head of Human Resources

    RR

    Rick Roberts

    Partner, Investment Management

    SN

    Stuart Nagae

    Partner, Co-Head of Venture Capital

    YC

    YB Choi

    Partner, Co-Head of Venture Capital

    TH

    Trish Halper, CFA

    Co-Chief Investment Officer

    MK

    Malinda Khauv, IACCP

    Chief Compliance Officer

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    57 investments
    CompanyRoundAmountDate
    Accipiter Biosciences logoAccipiter BiosciencesSeed$12.7MNov 2025
    DDoorstep AiSeed$8MSep 2025
    Provision logoProvisionSeed$7MJan 2025
    Accipiter logoAccipiterSeed—Jan 2025
    Aizen Therapeutics logoAizen TherapeuticsSeed$13MNov 2024
    PPicnic Works, Inc.Seed$5MOct 2024
    GC Therapeutics logoGC TherapeuticsSeries A$65MSep 2024
    NLX logoNLXSeries A$12MFeb 2024
    BandLab logoBandLabSeries B$25MMay 2023
    Groopit logoGroopitSeed—May 2023
    Wellthy logoWellthySeries B$25.5MMay 2023
    Candidly logoCandidlySeries B—Mar 2023
    Ferrum Health logoFerrum HealthSeed$6MJan 2023
    AdaptX logoAdaptXSeries A$10MJan 2023
    Plerion logoPlerionSeed$10MJan 2023
    MìLà logoMìLàSeries A$10MDec 2022
    Prophia logoProphiaSeries A$10.2MDec 2022
    flavrs logoflavrsSeed$7MSep 2022
    Ozette Technologies logoOzette TechnologiesSeries A$26MJul 2022
    CCivicEyeSeries A$12.4MJul 2022
    BBooster FuelsUnknown$125MMay 2022
    Upside Foods logoUpside FoodsSeries C$400MApr 2022
    VVideonUnknown$9MFeb 2022
    Cialfo logoCialfoSeries B$40MJan 2022
    RRad Power BikesSeries D$154MOct 2021
    Page 1 of 3

    Top Co-Investors

    Madrona Venture Group8 shared
    Flying Fish5 shared
    Prosus Ventures3 shared
    Creative Ventures3 shared
    WRF Capital3 shared
    Alexandria Venture Investments3 shared
    Tiger Global Management, LLC3 shared
    Monashees3 shared
    Hearst Ventures2 shared
    K32 shared
    Baillie Gifford2 shared
    Stripes2 shared
    Thursday Ventures2 shared
    Thayer Ventures2 shared
    Voyager Ventures2 shared
    Takeda Ventures, Inc.2 shared
    Columbus Venture Partners2 shared
    Argonautic Ventures2 shared
    Relevance Ventures2 shared
    DFJ Growth2 shared

    Last updated: 7 September 2026