Stage FocusPre-Seed, Seed, Series B+
GeographyUS
TypeVC
Last Activity2025
Industry Focus
Industries
AI InfrastructureCybersecurity Hardware
Technical BenchStrong
Investor TypeDeepTech Specialist
ExposureSome DeepTech Investments
Bio
Liquid2 Ventures was founded in 2014 by NFL quarterback Joe Montana alongside Mike Miller and Michael Ma. Five funds later — including a $100M Fund III (December 2021) and a new $100M fund (January 2025) — the firm has made 965 investments with 100+ exits. The first two funds returned over 3x with 25 companies valued over $1B, including GitLab, Anduril, Rippling, Applied Intuition, Retool, and Mer...
Notable Investments
G
GitLabA
AndurilR
RipplingA
Applied IntuitionR
RetoolSimilar Funds
SignalFire
San Francisco, United States
DeepTech NativeAI InfrastructureCybersecurity HardwareMedTechPre-SeedSeed
iNovia Capital
Montreal, Canada
DeepTech NativeAI InfrastructureMedTechPre-SeedSeed
Blumberg Capital
San Francisco, United States
DeepTech NativeAI InfrastructureCybersecurity HardwarePre-SeedSeed
Databricks Ventures
San Francisco, United States
DeepTech NativeAI InfrastructureCybersecurity HardwareSeedSeries A
Highland Capital Partners
Cambridge, United States
DeepTech NativeAI InfrastructureCybersecurity HardwareSeedSeries A
MassVentures
Waltham, United States
DeepTech NativeAI InfrastructureQuantum ComputingRoboticsPre-SeedSeed