Lead Out

Lead Out, a venture capital firm based in Portola Valley, California, was established in 2018 by Alison "Ali" Rosenthal with a distinctive mission to empower "non-obvious" founders. The firm champions entrepreneurs from underrepresented communities, including women and minorities, who often face challenges securing traditional venture capital funding. Lead Out's investment philosophy is deeply rooted in identifying individuals with profound founder-market fit and a demonstrated capacity for resilience and grit.

The firm's approach goes beyond merely providing capital; it actively functions as a strategic partner, offering extensive operational support to its portfolio companies. This includes assistance with recruitment, product development, go-to-market strategy, and leveraging a vast network of experienced operators from leading technology companies like Apple, Stripe, Nvidia, Google, Microsoft, and Amazon. Lead Out aims to catalyse and augment great ideas and entrepreneurial talent across all demographics, fostering businesses that create value for all stakeholders.

Lead Out launched with its first fund, Leadout Capital I, closing at over $27 million, which was dedicated to investing in pre-seed and seed stage software-driven companies. In 2022, the firm closed its second fund, Leadout Capital II, with $57.7 million under management, expanding its capacity to support early-stage ventures. The firm's commitment to diversity is evident, with over 85% of its portfolio companies led by women or underrepresented minorities. This strategic focus reflects a belief that cognitive diversity within founding teams leads to more innovative ideas and approaches, addressing overlooked or underserved markets.

Key leadership at Lead Out includes founder and Managing Partner Alison Rosenthal, General Partner Steve Brownlie, and Venture Partners Yun-Fang Juan and Dion Dong. Alison Rosenthal brings a wealth of experience from her early days at Facebook, where she was instrumental in mobile growth, and later as VP of Partnerships at Wealthfront. Her career also includes roles at Goldman Sachs and General Atlantic Partners, and she is an active angel investor with early stakes in companies like Figma and Matterport. This diverse leadership team provides invaluable operating experience and strategic guidance, ensuring founders receive comprehensive support throughout their growth journey.

Lead Out differentiates itself through its deep empathy for the entrepreneurial journey, understanding that founding a company is inherently challenging. The firm commits to bringing positive energy and acting as an extension of the founding team, providing consistent encouragement and accountability. By fostering a collaborative environment, Lead Out not only invests financial capital but also intellectual and social capital, forging strong, enduring partnerships with the next generation of impactful technology companies.