Location: San Francisco, CA
Experience: 2–4 years
Start: Immediate
ABOUT LEONIS CAPITAL
Leonis Capital is a research-driven pre-seed and seed venture fund based in Silicon Valley. We back technical founders before their markets become obvious, using research to build investment conviction ahead of consensus.
Our portfolio includes Viktor, MaintainX, Motion, Spectro Cloud, Orchids, and other AI-native companies. Our research has been cited by Nature, The New York Times, Bloomberg, and CNBC, and HBS has profiled Leonis and our research-driven investment strategy.
Research is not a marketing function at Leonis. It is how we invest. We build theses around emerging technical capabilities, publish research such as the Leonis AI 100, and have built our own research software, Leonis Alfa, to systematically track technical, talent, and commercial signals across the AI startup ecosystem.
THE ROLE
We are looking for an intellectually curious, technically minded Associate to join our investment team.
You will work directly with Leonis's partners across the full investment lifecycle: finding exceptional founders, developing theses, conducting technical and commercial diligence, and forming investment decisions.
You’ll operate as an internal researcher-investor: understanding technical shifts before they become market narratives and translating those insights into investment conviction.
WHAT YOU’LL DO
Find exceptional technical founders. Source emerging companies through technical communities, research, open-source ecosystems, data, networks, and events.
Underwrite companies. Evaluate founders, markets, products, technical architectures, business models, competition, customers, and financing, and understand what technically has to be true for a company to win.
Develop investment theses. Research emerging technologies and markets before they become consensus categories.
Write. Contribute to investment memos and Leonis research, including projects such as the Leonis AI 100.
Work directly with the partners. Participate across sourcing, diligence, investment decisions, and selected strategic initiatives with portfolio companies.
YOU MIGHT BE A FIT IF YOU…
Have 2–4 years of experience in startup ops, product, VC, or technical roles. Prior venture experience is useful but not required.
Have a technical foundation. You may have studied computer science, engineering, mathematics, or a related field, or previously worked in engineering, technical product, data science, or research.
Are research-driven and technically curious: you actually read research papers, open GitHub repos, or play with new tools before they become mainstream.
Have high agency: you don’t wait for assignments; you generate them.
Can form clear judgments from incomplete information and change your mind quickly when the evidence changes.
Write clearly and think from first principles.
WHY LEONIS
Learn investing by doing it. Work directly with the partners from the first founder meeting through the investment decision.
Build technical investing judgment. Learn to connect changes in AI research and engineering with company formation, markets, and venture outcomes.
Build the firm with us. Leonis is still small enough that exceptional people can meaningfully shape how we research, invest, and operate.
Take on real ownership. Strong performers can take increasing responsibility for sourcing, investments, and research over time.
HOW TO APPLY
Please send us four things:
Your CV or LinkedIn.
A link to something you've built or written.
A 500-word investment memo. Pick a pre-seed or seed company you think Leonis should invest in. Tell us why, what the market is misunderstanding, and what technical assumption your thesis depends on. This should take under 60 minutes.
A 150-word critique. Read the Leonis AI 100. Tell us one thing that's wrong with how it's built and what you'd do about it.