Key Takeaways
- • Linse Capital, the San Juan, Puerto Rico-based deep tech venture capital firm founded in 2015, has rebranded as Lithos Capital, with the new website live at www.lithos.com.
- • The firm has raised over $1.7 billion to date and has backed nine growth-stage and fourteen early-stage companies, including Skydio, Impulse Space, Verkada, and SpaceX.
- • Lithos now extends its concentrated-check model into early-stage rounds across space, robotics, energy, mobility, defense, and AI, following the launch of a $75 million early-stage fund, Linse Ignition, and a $75 million co-investment vehicle.
- • Co-founders Michael Linse and Bastiaan Janmaat say the firm's largest investment began as a $4 million check and grew to $330 million over five years.
Summary
Linse Capital, a deep tech venture capital firm, announced it is rebranding as Lithos Capital, according to a Business Wire release. The firm, based in San Juan, Puerto Rico, has built its reputation on growth-stage investments in companies such as Skydio, Impulse Space, Verkada, and SpaceX. The new name is intended to reflect the firm's strategy of backing a small number of companies with large, concentrated checks and remaining with them over many years. The company explains that "Lithos" is ancient Greek for stone, the root of "monolith" and "lithography," and was chosen to describe its role as a partner that stays with founders through the full course of building a company.
Founder Michael Linse, a former Partner at Kleiner Perkins, said the firm had spent a decade operating quietly and deciding that a name would now communicate its values. He co-leads the firm with long-time investing partner Bastiaan Janmaat, previously CEO of DataFox. To date, the firm reports having raised more than $1.7 billion and having backed nine growth-stage and fourteen early-stage companies. The firm's boilerplate describes it as having invested over $1.5 billion across space, drones, critical infrastructure, energy, mobility, robotics, and AI.
Alongside its continued growth-stage activity, Lithos now participates in early-stage rounds across space, robotics, energy, mobility, defense, and AI, which the firm says allows founders to work with a single partner from first check through scale. Janmaat said the firm's largest investment began as a $4 million check and that the firm put $330 million behind that company over five years, arguing that many deep tech companies that succeed require that level of sustained capital.
The rebrand follows the recent launch of Ignition, a $75 million early-stage fund, Linse Ignition, alongside a $75 million co-investment vehicle designed to extend the firm's concentrated approach to early-stage companies. The release notes that portfolio references are illustrative and not a complete investment list, and that the announcement does not constitute an offer or investment advice.
Founder Michael Linse, a former Partner at Kleiner Perkins, said the firm had spent a decade operating quietly and deciding that a name would now communicate its values. He co-leads the firm with long-time investing partner Bastiaan Janmaat, previously CEO of DataFox. To date, the firm reports having raised more than $1.7 billion and having backed nine growth-stage and fourteen early-stage companies. The firm's boilerplate describes it as having invested over $1.5 billion across space, drones, critical infrastructure, energy, mobility, robotics, and AI.
Alongside its continued growth-stage activity, Lithos now participates in early-stage rounds across space, robotics, energy, mobility, defense, and AI, which the firm says allows founders to work with a single partner from first check through scale. Janmaat said the firm's largest investment began as a $4 million check and that the firm put $330 million behind that company over five years, arguing that many deep tech companies that succeed require that level of sustained capital.
The rebrand follows the recent launch of Ignition, a $75 million early-stage fund, Linse Ignition, alongside a $75 million co-investment vehicle designed to extend the firm's concentrated approach to early-stage companies. The release notes that portfolio references are illustrative and not a complete investment list, and that the announcement does not constitute an offer or investment advice.
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