Description
Papa Bear Ventures is a New York City–based early-stage venture capital fund and angel syndicate focused on backing early-seed B2B technology startups with real traction. The firm positions itself as a founder-first partner, emphasizing hands-on support, disciplined pricing, and capital efficiency rather than blitzscale growth. Papa Bear is particularly active as a first institutional check for companies graduating from friends-and-family rounds.
Pre-Seed: Selective participation when founders are transitioning out of friends-and-family.
Seed: Core focus; typically early seed with launched product and initial revenue.
Series A: Does not lead Series A; may support via signaling or follow-on participation.
Typical Check Size: $25K–$100K per company.
Round Size Preference: $750K–$2M total seed rounds.
Valuation Discipline: Generally avoids seed valuations above ~$10M post-money.
Equity: Negotiated deal-by-deal; typically standard early-seed equity or SAFE structures.
Submission Method: Direct application via the Papa Bear website or warm introductions.
Lead Requirement: No lead investor required; Papa Bear may invest without a formal lead.
Rolling Basis: Evaluates companies year-round.
Eligibility
Sector Focus: B2B software and software-enabled services.
Explicit Exclusions: Blockchain/web3, crypto, biotech, space, deep materials science, HR tech, music tech, most consumer apps, and most CPG.
Product Status: Product must be launched within the last ~12 months.
Traction: Early revenue typically in the ~$15K–$30K MRR range or equivalent validation.
Geography: Founders based in the U.S., Canada, UK, or Singapore with U.S. market focus.
Entity Structure: Delaware C-Corp or equivalent VC-friendly structure.
Team: Strong preference for technical + business co-founders; solo founders considered selectively.
Process
Initial Intake: Review of pitch deck, product status, traction, and founding team.
Founder Conversations: Deep focus on founder judgment, customer insight, and execution discipline.
Traction Review: Emphasis on revenue quality, customer usage, and retention signals.
Deal Structuring: Terms negotiated case-by-case with clear expectations on use of capital.
What an Applicant can Obtain
Strategic Capital: Early seed capital aligned with disciplined growth.
Hands-On Mentorship: Close founder engagement on pricing, GTM strategy, and capital efficiency.
Operator Network: Access to experienced operators and early-stage investors.
Fundraising Support: Guidance on structuring seed rounds and positioning for later institutional capital.
Notable Characteristics
Founder-First Orientation: Explicit emphasis on founder mental health, resilience, and long-term outcomes.
Diversity Commitment: Actively supports underrepresented founders (women, LGBTQ+, minority founders).
Capital Discipline: Strong bias toward sustainable growth over hype-driven fundraising.
