Tribe Capital has closed on $150 million for its fourth AI fund, reaching its target according to its most recent regulatory filing. The fund was raised from a total of three LPs, the filing says.
The San Francisco-based firm was founded in 2018 by Arjun Sethi, Jonathan Hsu and Ted Maidenberg, who met as partners at multi-stage tech VC Social Capital.
Tribe describes itself as being sector- and stage-agnostic, investing in “seed to growth-stage technology companies,” according to its website. Among its notable portfolio companies are no-code application development platform Airtable, cap table management software developer Carta and cryptocurrency exchange Kraken.
The firm raises its funds in sector-specific families including its four AI funds; three crypto funds, the third of which is currently open; a Tribe Capital Partners fund family that has raised seven vehicles totaling around $700 million; and a Tribe Capital fund family that has closed three vehicles totaling $840 million and is targeting $250 million for its fourth fund.
Tribe has also raised one healthcare fund, which closed on $50 million in 2024, and one natural frontier fund, which closed on $15 million last month. It has so far amassed an AUM of $1.9 billion across all of its vehicles.
The firm has raised previous funds from a variety of LPs including the Texas Municipal Retirement System and the University System of Maryland Foundation, both of which committed to Tribal Capital Fund III, according to fundraising data from affiliate title Buyouts.
Tribe also operates an incubator to selectively build companies in which it has “exceptionally high conviction”, its website says. The firm has incubated at least six companies to date, including targeted therapeutics platform developer Ashvattha, robotics manufacturer Foundation and AI-based banking platform Kapital.
The firm is also an active LP in other tech-focused VC funds and has made at least 11 commitments to date. Its LP portfolio is primarily made up of first-time funds from emerging managers 8-Bit Capital, Ansa Capital, f7 Ventures, Hannah Grey Ventures, Original Capital and Vibe Capital, according to fund commitment data from Buyouts.
