The venture capital landscape is constantly evolving, but one challenge has remained the same—early-stage investors often lack the capital to follow on in their most promising companies. At Alpha Partners, we’ve built our firm around a solution to this problem, working alongside VCs instead of competing with them. That’s why we’re excited to be featured in NVCA’s latest Member Spotlight, where we share how our model is reshaping growth-stage investing.
Closing the Follow-On Gap
Across the venture ecosystem, nearly four out of five tech startups have VCs with less than $100 million in AUM on their cap table. Yet, 95% of the time, these investors don’t participate in later-stage funding rounds—even when they have legal rights to do so. The reason? They simply don’t have enough capital.
At Alpha Partners, we provide a solution. By co-investing in follow-on rounds, we enable VCs to capture more value from their winners, turning pro rata rights into real returns. Our network of over 1,000 VC partners allows us to identify the strongest growth-stage opportunities while giving early-stage investors a new path to liquidity and upside.
Investing in Growth-Stage Leaders
Our investment philosophy is rooted in a disciplined, top-grading approach. We use a structured four-point evaluation process to ensure we back only the most scalable, high-growth companies with strong competitive moats.
Recent investments that showcase our strategy include:
Rad AI – Advancing the future of radiology with artificial intelligence, in partnership with Santa Barbara Venture Partners.
Chainguard – Strengthening software security, co-investing with Mantis VC in their $140 million Series C round.
Second Front Systems – Enhancing government software approvals, investing alongside Artis Ventures in a second round.
By working hand-in-hand with early-stage investors, we help high-potential companies scale while ensuring that the VCs who backed them from the start don’t get left behind.
The Venture Market Today
The past few years have been a rollercoaster for venture capital, from the funding surge of 2020-2021 to the sharp correction in 2022-2023. Today, growth-stage investing has stabilized, but capital remains highly selective.
A clear “barbell effect” has emerged: AI-driven startups and high-profile disruptors are commanding premium valuations, while a large portion of companies struggle to attract funding. Despite this shift, one thing remains certain—access to capital at the right time can make or break a company’s trajectory. That’s why Alpha Partners continues to play a crucial role in helping VCs capitalize on their strongest bets.
Looking Ahead
Alpha Partners is positioned to thrive in this new era of venture investing. With the recent close of our oversubscribed $150 million Fund III, we’ve doubled our investment team.
But we’re just getting started. Our long-term vision is to evolve into a full-service fund, offering more capital and liquidity solutions for early-stage VCs. We also have ambitious plans for international expansion—stay tuned for more on that soon.
A Big Thank You to NVCA
We’re proud to be featured in NVCA’s Member Spotlight and grateful for their ongoing work in supporting venture investors. NVCA plays a vital role in shaping policies that drive innovation, and we’re excited to continue working alongside them to strengthen the venture ecosystem.
Read the full NVCA Member Spotlight here: https://nvca.org/member-spotlight-alpha-partners/
