Active Capital

Active Capital is a founder-led venture firm investing at pre-seed. The firm targets technical founders rebuilding software and infrastructure for an AI-native world, and aims to be among a company's first investors, typically writing a $500,000 first check. It can lead a round or invest alongside other investors.

The firm's stated areas of focus span AI-native software, enterprise software, cloud infrastructure and software infrastructure - categories that have seen renewed early-stage activity as application and infrastructure layers are reworked around machine learning. Beyond capital, Active Capital supports founders as they develop and scale their companies, applying a founder-led perspective drawn from the firm's own entrepreneurial origins: it was founded by entrepreneur-turned-investor Pat Matthews.

On portfolio construction, the firm articulates two distinct postures it looks for in founders - staying lean while searching for product-market fit, and scaling ambitiously once it has been found. Investments are made across the United States. Active Capital is headquartered in San Antonio and maintains a presence in San Francisco.