N47
N47 is a global early-stage venture capital firm headquartered in Palo Alto that invests in AI, enterprise software, and physical systems startups at the product-first stage, with offices in Silicon Valley, Tel Aviv, and London.
- Company typePrivate
- Founded2017
- HeadquartersPalo Alto, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What N47 does
N47 is a global early-stage venture capital firm founded in 2017 (previously operating as Next47, the venture arm of Siemens) and headquartered in Palo Alto, with regional offices in Tel Aviv and London. The firm applies a "Product First" investment thesis, committing capital at the earliest stage — before buzz and conventional metrics — to founders building in enterprise software, AI infrastructure, and physical systems across Applications, Infrastructure, and Systems sectors. Its portfolio includes several breakout positions (Verkada, Skydio, VAST Data, BuildOps) and an active 2025-2026 deployment cycle of 17 investments led by Sona, Enzo Health, Luminary Cloud, Echo, XBuild, and Aurasell, alongside participation in Kai, Patlytics, and Encord.
The firm generates revenue through standard VC economics: management fees (typically 2% of committed capital) on funds raised from undisclosed institutional limited partners, plus carried interest (typically 20% of profits above a hurdle) on exits from portfolio companies. N47 markets primarily through thought leadership — a six-part "Intelligence on Tap" playbook series on AI economics and architecture, a podcast, and direct founder outreach — rather than traditional deal-broker channels, treating intellectual content as a top-of-funnel sourcing mechanism.
The partnership is led by Lak Ananth (Global Managing Partner) with Matthew Cowan (General Partner), Vivian Cheng (Partner), Fred Ellis (Partner, Europe), and T.J. Rylander (Partner), supported by a bench of principals and functional heads covering operations, portfolio support, and finance. The firm's competitive positioning rests on operator-credible pattern recognition for "product-first" founders, a tri-continental sourcing footprint, and concentrated exposure to AI-native and Physical AI categories that overlap with roughly 20% of its portfolio.
N47 firmographics
Firmographics- Name
- N47
- Legal name
- N47 LLC
- Website
- https://n47.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- N47 is a global early-stage venture capital firm headquartered in Palo Alto that invests in AI, enterprise software, and physical systems startups at the product-first stage, with offices in Silicon Valley, Tel Aviv, and London.
- Ownership category
- akta.pro rank
N47 industry classification
Industry- Product category
- Venture Capital
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industries
- Late-Stage Venture Capital (Series C+) (FSANAAAC), Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)
Keywords
Where N47 is headquartered
LocationHeadquarters
- HQ city
- Palo Alto
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
N47 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund Management: N47 generates returns through traditional VC fund economics including management fees (typically 2% of committed capital) and carried interest (typically 20% of profits above the hurdle rate) from successful portfolio company exits.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
N47 product offering
Product offeringCore offering
N47 is a global venture capital firm that invests in early-stage technology companies under a "Product First" thesis, deploying capital into exceptional product builders across enterprise software, AI, and physical systems sectors (Applications, Infrastructure, and Systems). The firm partners with founders at the earliest stages before conventional metrics validate the opportunity, providing capital, strategic guidance, and network access to help grow companies from belief to scale. Revenue is generated through traditional VC fund economics, including management fees and carried interest from portfolio company investments.
Product overview
N47 is a venture capital firm operating as an investment platform rather than a traditional software product company. The firm's primary offering is its investment platform, which showcases portfolio companies across technology sectors and publishes market insights through its 'Intelligence on Tap' playbook series. The portfolio represents investments in AI/ML, physical AI, infrastructure, and vertical applications across companies including Verkada (physical security), Skydio (autonomous drones), VAST Data (AI infrastructure), BuildOps (commercial contracting), Tractian (manufacturing AI), Encord (computer vision data platforms), Kai (agentic cybersecurity), Sona (frontline workforce AI), Enzo Health (home health AI), Patlytics (patent lifecycle AI), Luminary Cloud (physics AI), XBuild (construction AI), and others. The platform serves as a window into the firm's investment thesis and portfolio ecosystem rather than a standalone software product.
Differentiator
Problem solved
Functional benefit
Products and services
- Early-Stage Venture Capital Fund
Companies that use N47
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles2 records
N47 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
N47 partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
N47 competitors and assessment
Company assessmentDirect peers
- Lux Capital: Lux Capital is a sector-focused early-stage venture firm with deep specialization in deep tech, physical sciences, and AI, including significant investments in robotics and autonomous systems. It is directly comparable to N47's Physical AI thesis and early-stage orientation toward technical founders building products at the intersection of software and physical systems.
- Khosla Ventures: Khosla Ventures is a sector-focused, early-stage firm that invests heavily in AI infrastructure and transformative technology, often leading seed and Series A rounds. Comparable to N47 in stage preference, willingness to invest before metrics validate, and AI-centric thesis with both enterprise and deep-tech applications.
- Founders Fund: Founders Fund is an early-stage firm known for backing technically ambitious founders before conventional metrics validate the opportunity, with strong exposure to defense, autonomy, and frontier AI. Directly comparable to N47's "Product First" philosophy and willingness to lead seed and Series A rounds in non-obvious opportunities.
- Index Ventures: Index Ventures is a global early-to-growth firm with strong presence in Europe and the US, particularly known for enterprise SaaS and AI investments. Comparable to N47's London presence, European founder focus, and pattern of leading Series A and B rounds in AI-driven vertical software.
- General Catalyst: General Catalyst is an early-to-growth stage firm with a strong thesis around AI-native transformation of industries, frequently leading Series A and B rounds across vertical SaaS. Comparable to N47 in enterprise software focus, lead-check behavior at the Series A stage, and global presence.
- Lightspeed Venture Partners: Lightspeed is a multi-stage global venture firm with deep enterprise SaaS and AI infrastructure coverage, frequently leading Series A and B rounds. Comparable to N47 in stage (seed through C), enterprise software emphasis, and global footprint spanning US, Europe, and Israel.
- Battery Ventures: Battery Ventures is an early-to-growth stage firm with a strong vertical enterprise software and industrial AI franchise, including investments in companies like Tractian-adjacent industrial software. Closely comparable to N47's Applications and Systems sector focus and its orientation toward AI-native vertical software.
- Accel: Accel is an early-stage global venture firm with a strong franchise in enterprise software and AI infrastructure, frequently leading seed and Series A rounds. Comparable to N47 in stage preference, AI infrastructure and application focus, and pattern of partnering with repeat founders.
Broad incumbents
- Andreessen Horowitz: a16z is a large multi-stage venture firm with substantial AI, enterprise software, and infrastructure franchises, often co-investing alongside N47 in rounds like XBuild ($19M Series A). While broader in scope than N47 and significantly larger in AUM, it is comparable as a co-investor and as a benchmark for what N47 aspires to scale toward.
- Sequoia Capital: Sequoia is a top-tier multi-stage global venture firm with extensive AI, enterprise software, and infrastructure coverage. Comparable as a co-investor and a benchmark for category leadership, though materially larger in AUM and brand than N47.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
N47 social profiles
Digital presenceN47 financial estimates
Financial estimateRevenue estimate
Valuation estimate
N47 leadership team
Management profileNumber of profiles
Profiles1 record
N47 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
N47 M&A and investment
M&A and investmentM&A
Investments307 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about N47
What does N47 do?
N47 is a global venture capital firm that invests in early-stage technology companies under a "Product First" thesis, deploying capital into exceptional product builders across enterprise software, AI, and physical systems sectors (Applications, Infrastructure, and Systems). The firm partners with founders at the earliest stages before conventional metrics validate the opportunity, providing capital, strategic guidance, and network access to help grow companies from belief to scale. Revenue is generated through traditional VC fund economics, including management fees and carried interest from portfolio company investments.
Is N47 a public or private company?
N47 is a private company. It is classified as unknown and is currently operating.
When was N47 founded?
N47 was founded in 2017. It employs 51 to 100 people.
Where is N47 based?
N47 is headquartered in Palo Alto, United States, in the North America region.
How does N47 make money?
One revenue line is on record: fund Management.
Who are N47's main competitors?
Direct peers on record are Lux Capital, Khosla Ventures, Founders Fund, Index Ventures, General Catalyst, Lightspeed Venture Partners, Battery Ventures and Accel. Broad incumbents are Andreessen Horowitz and Sequoia Capital.
Does N47 have an API?
No public API is recorded for N47.
What industry is N47 in?
N47's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANAAAC, Late-Stage Venture Capital (Series C+). Its NAICS code is 525 and its SIC code is 6799.