Night Capital
Night Capital is a boutique San Francisco venture capital firm founded in 2018 by Kevin Carter, investing seed and Series A capital in exceptional technology founders alongside a small team and Conway-family-backed funds.
- Company typePrivate
- Founded2018
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Night Capital does
Night Capital is a boutique, San Francisco-based venture capital firm founded in 2018 by Kevin Carter after nearly a decade investing alongside Ron Conway at SV Angel. The firm operates as a relationship-driven seed and Series A investor, explicitly positioning itself to be "indispensable to the founders we partner with" rather than maximizing coverage. Its portfolio spans more than 60 disclosed companies including generational winners from Kevin Carter's broader 17-year career (Airbnb, Stripe, Coinbase, Square, Snap, Twitter) and current Night Capital–era bets (Deel, Zip, Gamma, Underdog, Kalshi, Lassie, Tenkara, Throne, Standard Fleet). Limited Partners are the Conway family and a small group of strategic technology leaders, and the firm is currently investing from its fourth fund.
The firm runs a deliberately lean operation with 1-10 employees, led by founder Kevin Carter alongside Colt Sauers and Susan Hyland. There are no proprietary technology products, APIs, or branded service modules — Night Capital's offering is exclusively venture capital: equity investment, strategic guidance, network access, and long-term partnership support across company lifecycles from seed through growth rounds and IPO. Distribution of deal flow is sourced through founder referrals, ecosystem reputation, and direct relationships cultivated over decades, rather than outbound marketing or platform tools.
Revenue mechanics are standard for a venture firm: management fees collected from Limited Partners and carried interest earned on successful portfolio exits. The firm invests in stages from Seed through Series A, with recent rounds including Lassie's $35M Series A (led by a16z), Tenkara's $7M seed (led by True Ventures), Throne's $4M seed (led by Moxxie Ventures), and Giggles' $1M+ pre-seed (led by 1kx). No fund size, AUM, revenue, or financial performance is publicly disclosed.
Night Capital firmographics
Firmographics- Name
- Night Capital
- Legal name
- Night Capital
- Website
- https://nightcapvc.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Night Capital is a boutique San Francisco venture capital firm founded in 2018 by Kevin Carter, investing seed and Series A capital in exceptional technology founders alongside a small team and Conway-family-backed funds.
- Ownership category
- akta.pro rank
Night Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Late-Stage Venture Capital (Series C+) (FSANAAAC)
Keywords
Where Night Capital is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Night Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Venture Capital Returns: Night Capital generates returns through equity investments in early-stage startups, with successful exits driving fund returns. The firm collects management fees from its limited partners (strategic technology leaders and the Conway family) and carries interest from portfolio company exits.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Night Capital product offering
Product offeringCore offering
Night Capital is a boutique venture capital firm that provides early-stage equity capital to exceptional founders, investing from Seed through Series A rounds. The firm pairs financial investment with long-term strategic partnership, network access, and operational support, currently investing from its fourth fund.
Product overview
Night Capital is a venture capital firm, not a product company. The firm provides investment services to exceptional founders, focusing on early-stage partnerships with long-term commitment. The firm's offering consists of venture capital funding and strategic support to founders across technology sectors, without distinct product modules or branded service offerings.
Differentiator
Problem solved
Functional benefit
Products and services
- Night Capital Early-Stage Venture Fund (Fourth Fund) Boutique venture capital fund providing early-stage equity capital (Seed through Series A) and long-term strategic partnership to exceptional founders building transformative companies across technology sectors. Capital deployment is paired with network access, operational support, and reputational credibility from founder Kevin Carter's 17+ year investing track record.
Companies that use Night Capital
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Night Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Night Capital partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Night Capital competitors and assessment
Company assessmentDirect peers
- SV Angel: Ron Conway's seed-stage venture firm where Kevin Carter spent nearly a decade; operates an identical model of small-check, high-network seed investing across consumer and enterprise software with strategic LP base.
- Moxxie Ventures: Boutique seed-stage fund led by Katie Stanton and Diana Mantez; co-invested with Night Capital in Throne's $4M seed and shares the small-team, relationship-driven seed investing model.
- Founder Collective: Seed-stage venture firm founded by David Frankel, David Tisch, and Eric Paley; comparable boutique East Coast seed fund with similar check sizes, founder-first philosophy, and tier-one portfolio.
- Lerer Hippeau: Early-stage NYC-based seed fund; comparable boutique seed model focused on consumer and enterprise software, similar check sizes, and small-team operating style.
- Eniac Ventures: Seed-stage fund focusing on technical founders; similar boutique check size and stage focus, with comparable network-driven deal sourcing and portfolio support.
- Notation Capital: Boutique pre-seed/seed fund led by Nick Chirls and Alex Taub; similar small-team model investing at the earliest stages with high-conviction, small-check philosophy.
- Cowboy Ventures: Seed-stage fund led by Aileen Lee; comparable boutique seed model focused on consumer and enterprise, with similar founder-first brand and small-team operations.
- Betaworks: NYC-based startup studio and seed investor; comparable boutique approach to early-stage technology investing with thesis-driven bets on platform shifts.
- Corazon Capital: Early-stage venture firm founded by Sam Yagan; comparable boutique seed fund with similar check sizes and founder-network-driven deal sourcing model.
Broad incumbents
- Andreessen Horowitz: Mega-fund across all stages; not a direct competitor at seed but a frequent co-investor (led Lassie's $35M Series A where Night Capital participated) and an aspirational model for scaled seed-to-growth investing.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Night Capital social profiles
Digital presenceNight Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Night Capital leadership team
Management profileNumber of profiles
Profiles3 records
Night Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Night Capital M&A and investment
M&A and investmentM&A
Investments36 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Night Capital
What does Night Capital do?
Night Capital is a boutique venture capital firm that provides early-stage equity capital to exceptional founders, investing from Seed through Series A rounds. The firm pairs financial investment with long-term strategic partnership, network access, and operational support, currently investing from its fourth fund.
Is Night Capital a public or private company?
Night Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Night Capital founded?
Night Capital was founded in 2018. It employs 1 to 10 people.
Where is Night Capital based?
Night Capital is headquartered in San Francisco, United States, in the North America region.
How does Night Capital make money?
One revenue line is on record: venture Capital Returns.
Who are Night Capital's main competitors?
Direct peers on record are SV Angel, Moxxie Ventures, Founder Collective, Lerer Hippeau, Eniac Ventures, Notation Capital, Cowboy Ventures, Betaworks and Corazon Capital. Andreessen Horowitz is listed as a broad incumbent.
Does Night Capital have an API?
No public API is recorded for Night Capital.
What industry is Night Capital in?
Night Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAC, Late-Stage Venture Capital (Series C+). Its NAICS code is 52394 and its SIC code is 6282.