Subversive Capital is a New York-based investment firm founded in 2013 by Michael Auerbach. It is dedicated to investing in radical companies whose core missions subvert the status quo and require sophisticated government and regulatory strategies, spanning venture investing, public market investing, whistleblower financing, and thematic ETFs.
33% of their portfolio is in Gaming. Their most common stage is seed (67% of deals). Average disclosed round size is $10.0M (across 6 rounds with reported amounts).
Portfolio
6
Fund Size
—
Top Stage
Seed
Last 12 Mo
0
Team
MA
Michael Auerbach
General Partner & Founder
MS
Michal Shtender
Partner
CH
Christian H. Cooper
Portfolio Manager
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
6 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Betty | Seed | $5M | Feb 2023 |
| BBetty Gaming | Seed | $5M | Jan 2023 |
 AEXLAB | Series A | $5M | Jan 2021 |
 AtaiBeckley | Growth | $43M | — |
| QQL Gaming | Seed | $1.1M | — |
 QL Gaming Group | Seed | $1.1M | — |
Top Co-Investors
OCA Ventures3 shared
305 Ventures2 shared
CEAS Investments2 shared
Gaingels2 shared
Courtside Ventures2 shared
Boston Seed Capital2 shared
Pura Vida Investments1 shared
Apeiron Investment Group1 shared
Kalaari Capital1 shared
Valor Equity Partners1 shared
Fuel Ventures1 shared
Azure Capital Partners1 shared
Last updated: 8 September 2026