UP2398 is an early-stage venture capital firm based in Redwood City, California, founded in 2015 by Pierre Omidyar, Alex Poon, and Randy Ching. It invests in seed-stage and pre-Series A technology companies, with typical investments of $1–5 million.
Their most common stage is seed (40% of deals). Average disclosed round size is $14.6M (across 15 rounds with reported amounts).
Portfolio
8
Fund Size
—
Top Stage
Seed
Last 12 Mo
0
Team
BP
Ben Patterson
Managing Partner
AP
Alex Poon
General Partner
DW
Danny Wen
Venture Partner
PO
Pierre Omidyar
Partner
RC
Randy Ching
Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
15 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Rad AI | Series C | $8M | May 2025 |
| Rad AI | Series B | $50M | Apr 2024 |
 Standard Fleet | Seed | $7M | Jun 2023 |
 Convex | Series B | $39M | Oct 2021 |
 slapdash | Seed | $3.7M | Mar 2021 |
| Convex | Series B | $39M | Jan 2021 |
| Convex | Series A | $17M | Jan 2020 |
| Rad AI | Seed | $4M | Nov 2019 |
 INDUS.AI | Seed | $3.7M | Aug 2018 |
 PandaTree | Seed | $1.5M | Nov 2017 |
 Deep Sentinel | Series A | $7.4M | Apr 2017 |
| INDUS.AI | Series A | $8M | — |
| Standard Fleet | Series A | $13M | — |
 Whispli | Seed | $2.8M | — |
| Deep Sentinel | Series B | $15M | — |
Top Co-Investors
Emergence Capital3 shared
1984 Ventures3 shared
Soma Capital3 shared
Shasta Ventures2 shared
Precursor Ventures2 shared
Gradient Ventures2 shared
Fifth Wall2 shared
Canvas Prime2 shared
Burst Capital2 shared
SV Angel2 shared
Y Combinator2 shared
Cone Health2 shared
Alphabet Inc.2 shared
OCV Partners2 shared
World Innovation Lab2 shared
Khosla Ventures2 shared
Lux Capital1 shared
Bezos Expeditions1 shared
Susa Ventures1 shared
Hive Ventures1 shared
Last updated: 7 October 2026