VC Fund Dossiers

Tribe is what happens when ex-Social Capital data nerds decide to build their own shop and actually follow through on the "quantitative VC" promise that most funds just talk about. Two-thirds of Tribe's staff is in R&D, engineering, and data science. Other firms rely on what Sethi has called "partners with a Midas touch" to make investment decisions. They've built genuine IP around their "Magic 8-Ball" underwriting tool and aren't just using spreadsheets like everyone else. In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment." The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies, and its response to the collapse of Silicon Valley Bank in 2023. The good: they actually walk the walk on data-driven investing and have real returns to show for it. The risk: they're heavy on crypto exposure (including the FTX mess) and their systematic approach might miss nuanced founder dynamics that matter in early-stage deals.

This isn't actually a traditional VC fund — it's more of an angel club that morphed into something resembling a fund. Tribeca Early Stage Partners (formerly Tribeca Angels) was formed in 2014 as a FinTech-focused angel club. We have brought together a network of entrepreneurs and business leaders with deep domain expertise in institutional finance and technology. With approximately 50 accredited investors, we have the collective experience and perspective. The upside is that you get access to a network of ~50 seasoned finance professionals who actually know how to build and scale financial services companies. The downside is that decision-making can be slower and more fragmented than with a traditional fund structure. We have an efficient investment process, which starts from the first call where you speak with the Investment Committee. Many of us are founders, and we understand how time-consuming it is to raise capital — but with 50 members, "efficient" is relative. They've had some solid wins (two unicorns in Alloy and PsiQuantum), but don't expect the same level of hands-on operational support you'd get from a traditional VC with dedicated partners.

This is NYC VC at its most authentic - no Silicon Valley cosplay, just real operators who've been grinding in the city since the late 90s. Their 90% Series A to Series B success rate is legitimately impressive and shows they know how to pick and nurture companies. Founders say they're typically the first call for advice and operational help, which is exactly what you want from a lead investor. The downside? They only do 5-6 deals per year, so competition is fierce. If you're not NYC-based or willing to relocate, don't bother - they're geographically focused and want to jump on the subway to work the whiteboard with you.

Tuesday Capital is the definition of a steady, meat-and-potatoes seed fund - and that's actually not a bad thing. Over a third of their Fund V companies are returning founders, which tells you everything about how they treat people. They're known for 'rolling up their sleeves' and being 'complementary and additive to co-investors' - translation: they won't try to lead your round or hijack board meetings. The Frog partnership gives them actual design chops beyond typical VC fluff. Writing $250K-$500K checks means they're not going to move the needle on valuation, but they also won't demand unreasonable board seats or control provisions. Pat's been doing this since before most VCs knew what a unicorn was, and the portfolio speaks for itself.

Here's the twist nobody talks about: Bradley Tusk announced in February 2025 that Fund III will be their last traditional venture fund, with plans to transition away from traditional VC after the fund's lifecycle ends in 2031. This makes them a sunset fund - they're literally winding down the VC business model that made them famous. The equity-for-services model where startups pay them in equity rather than cash for political consulting has apparently been more lucrative than traditional VC. Translation: they've figured out that being the only political fixer in tech pays better than being another VC. Their culture is "honest, intense, energized, curious, scrappy" - which in VC-speak means Bradley will tell you exactly why your regulatory strategy is terrible and then charge you equity to fix it. The track record is undeniable (Coinbase, FanDuel, Lemonade), but you're essentially betting on a firm that's already planning its exit strategy.

Here's the deal with Underscore: they've built something genuinely different with their 'Core Community' model where they profit-share with 100+ operators who actually help their portfolio companies. It's not just intro-making - these advisors have skin in the game because they get paid when companies succeed. The catch? You're basically getting a Boston-centric fund that's going through a major generational transition after co-founder John Pearce passed away and Michael Skok stepped back. New managing partner Lily Lyman has a reputation for extreme founder dedication (literally rerouting flights mid-vacation to meet founders), but the jury's still out on whether the community model scales as they grow. Their unicorns (Salsify, Project44) prove the model works, but expect heavy Boston bias and a very hands-on, relationship-intensive approach that some founders love and others find overwhelming.

Look, Unshackled has cracked a code that most VCs are too lazy or risk-averse to pursue: finding brilliant founders before anyone else even knows they exist. They just had their third 50x+ outcome and actually converted it to real liquidity - that's not luck, that's systematic early conviction. The immigration support isn't just virtue signaling; they have a 100% success rate getting visas for founders and 72% graduation rate from pre-seed to seed. But here's what founders really need to know: these guys price rounds aggressively low because they're betting on you before you've de-risked anything. As Manan puts it: "This may sit below Carta averages for pre-seed valuations, but it's what lets us say yes now—as your friends-and-family check." If you're an immigrant founder, this might be your best shot at someone who truly gets the unique challenges you face and won't ghost you when things get hard.