AIClimate & EnergyCrypto & Web3Developer ToolsEnterprise SoftwareFintechHardware & SemiconductorsInsuranceMarketing & AdvertisingRobotics & Automation
Terrain is an early-stage technology investment firm and creative partner to founders, launched in 2024 by Eric Stromberg and Willem Van Lancker. It invests in a highly concentrated fashion across software and technology sectors, backing founders pursuing high-stakes, long-term ambitions.
50% of their portfolio is in Climate & Energy. Their most common stage is series-b (40% of deals). Average disclosed round size is $204.9M (across 9 rounds with reported amounts).
Portfolio
6
Fund Size
—
Top Stage
Series B
Last 12 Mo
2
Team
MR
Michael Ramsden
Managing Director and founding Director
ES
Eric Stromberg
Founder & Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
10 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Parallel | Series B | $100M | Jan 2026 |
 CoPlane | Seed | $14M | Nov 2025 |
 Base Power Company | Series C | $1B | Oct 2025 |
 Artificial Intelligence Underwriting Company | Seed | $15M | Jul 2025 |
| Base Power Company | Series B | $200M | Apr 2025 |
| Base Power Company | Series A | $200M | Jan 2025 |
 Base Power | Series B | — | Jan 2025 |
| Base Power Company | Series B | $200M | Jan 2025 |
| Parallel | Series A | $100M | — |
| AAIUC | Seed | $15M | — |
Top Co-Investors
Altimeter Capital Management, LP5 shared
Addition5 shared
Valor Equity Partners5 shared
Lightspeed Venture Partners5 shared
Thrive Capital5 shared
Andreessen Horowitz4 shared
Ribbit Capital3 shared
Spark Capital3 shared
First Trust Capital Partners2 shared
Kleiner Perkins2 shared
First Round Capital2 shared
Y Combinator2 shared
Index Ventures2 shared
Khosla Ventures2 shared
Sequoia Capital2 shared
Emergence Capital2 shared
137 Ventures1 shared
Avenir Growth1 shared
CapitalG1 shared
Last updated: 20 October 2026