Initialized Capital

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Initialized Capital

We fund tech companies before product market fit. Earliest investors in Coinbase, Instacart, Cruise,

08/31/2026

We’re proud to support Outer Biosciences as they emerged from stealth recently. Co-founded by Michael Polansky, Outer Bio grew out of a frustration with how slowly innovation in biology and chemistry can move, in part because researchers can’t simply test new ideas directly on people.

That challenge is especially clear in skin health, where human skin outside the body typically stays usable for only about a week. But many of the biological processes researchers want to understand, from collagen remodeling and pigmentation changes to inflammation and barrier repair, take weeks to unfold.

Yuna is Outer Bio’s answer to that. The team sources human skin that would otherwise be discarded after surgery and has developed a way to keep living, full-thickness tissue viable and observable for four weeks.

Yuna also pairs those experiments with machine learning trained on Outer Bio’s own tissue data, creating a closed loop where each experiment helps sharpen the next prediction.

07/30/2026

Reliable AI interpretability has to be built into the training process, not added afterward. Much of the field works the other way around: train the model first, then try to explain what billions of parameters learned.

Guide Labs is taking a different approach, building diffusion language models designed to trace outputs back to their context, the concepts influencing them, and the training data behind them.

On the new episode of High Bit, cofounder and CEO Julius Adebayo explains how his PhD research challenged the assumption that interpretability comes at the cost of performance:
“You can train these big neural networks, constrain them while you’re training them, and still have them match the performance of something that was not constrained ahead of time.”

Full episode linked in bio.

07/28/2026

Founders are often working around the clock, through weekends and summer breaks.

Every now and then you need to take a break from the grind and enjoy the rare hot summer days in San Francisco. We loved hosting our founder community (and their plus 1s!) at a casual BBQ and game night in our SF office space.

It was especially fun to see everyone’s competitive sides come out over intense games of Uno, Mahjong, and Liar’s Dice. Careful who you Uno reverse, much yelling may ensue.

07/14/2026

Greptile’s Daksh Gupta at High Bit Live talking about a new class of engineers: new grads who learned to code with AI from the start.

Watch the full convo with Daksh, Trunk.io’s Matt Matheson, and Initialized’s Brett Gibson at the link in our bio.

07/10/2026

Matt Matheson of Trunk.io on the two engineer archetypes he thinks become especially valuable as AI takes on more generalist work: deep subject matter experts + creative builders who can take an idea all the way to customers.

Full episode of High Bit Live at the link in bio.

07/07/2026

Tune in to our first-ever live recording of High Bit with Initialized’s Brett Gibson, Greptile’s Daksh Gupta, and Trunk.io’s Matt Matheson.

The trio dig into building at the center of the AI engineering shift — what happens when teams ship faster than their review and testing processes can keep up, rethinking team size and autonomy, and more. Link in bio.

06/30/2026

Our electrical grid was built for a different century. Nearly 15% of the electricity generated in the U.S. is lost before we ever use it.

New Initialized portfolio company Arcturus is changing that. They’re building a new class of high-performance conductors by infusing metals like copper and aluminum with carbon nanomaterials. The result: wires designed to run cooler, carry more power, and last longer.

Founder and CEO Amir Mashal built the first prototype laser system in his garage. Now, as electrification accelerates and AI drives enormous new power demands, the team is improving the materials at the core of our electrical systems.

We’re proud to lead Arcturus’ $8 million seed round!

05/29/2026

“Integration is a dirty word.”

The military has been trying to solve the integration problem for decades - hundreds of systems from dozens of vendors making drones, missiles, sensors and more, all needing to work together within milliseconds. Every new system added makes it exponentially more complex.

GPS-denied environments, decades-old hardware, adversaries trying to trick your sensors. That’s what Picogrid is operating in. They built the infrastructure layer that makes it all work in hours, and what used to take six to twelve months gets done over a weekend.

They just announced their $45M Series A led by Bessemer. Proud to have led the Seed.

Full episode linked in bio.

05/07/2026

Are you human? According to Alien founder Kirill Avery, that’s always a probabilistic question, never a yes or no.
He joined Brett Gibson on High Bit to talk about why identity was never built into the internet and why AI just made that problem a lot harder to ignore.

Full episode linked in bio.

03/25/2026

“A lot of the products built for coding follow a very linear path... they don’t really lend themselves to discovery.”

But design is about discovery.

Variant cofounder and CTO Daniel Bulhosa Solórzano joins Brett Gibson on High Bit to talk about how Variant generates code that produces beautiful design and shows you multiple versions of what your product could look like at once, so you can explore and find what’s right instead of having to describe it upfront.

Watch on YouTube or listen wherever you get your podcasts.

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https://initialized.com/

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