Audrey Capital

What Audrey Capital does

Audrey Capital is a San Francisco-based angel investment and research company founded in 2008 by Matt Mullenweg, co-creator of WordPress and founder of Automattic. The firm operates with 1-10 employees, structured around Mullenweg, partner Naveen Selvadurai (co-founder of Tinder), and personnel member Audrey Kim, and sources seed and pre-seed deals primarily through Mullenweg's personal network, the WordPress ecosystem, and direct founder referrals rather than through a formal institutional process. There is no product, platform, or core technology operated by Audrey itself; the firm's output is capital, mentorship, and network access provided to early-stage founders.

Across 2005-2025 the firm has built a portfolio of 150+ companies spanning AI (Perplexity AI, /dev/agents, RunRL, Surreal, Mystic), consumer brands (HODINKEE, Our Place, Blue Bottle Coffee), fintech and infrastructure (Stripe, SpaceX, GitLab, Sonos, Wealthfront, Rho, Yieldstreet), biotech (Minicircle, Matrubials, Bionaut Labs, Vesicle Therapeutics), and developer tools (Meltano, AppFlowy, Daylight Computer). Audrey does not charge management fees and discloses no revenue; economics are realized exclusively through portfolio company exits via IPO (GitLab 2021, Sonos 2018, Getaround 2022, SendGrid 2017, Wealthfront 2025) or acquisition (Ring to Amazon, Blue Bottle to Nestlé, Ticketbis to eBay, Pointy to Google, Uiflow to Workday, Bear Flag Robotics to John Deere).

The firm operates without a parent company, institutional LPs, or formal fund vehicles in the public record, and is classified as founder-owned. Its competitive position rests on Mullenweg's reputational pull as a successful open-source founder, the embedded WordPress community, and a diversified angel approach rather than on operating scale. Deal flow and exits are tracked at audrey.co.

Name

Audrey Capital

Legal name

Audrey Capital

Website

https://audrey.co

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Audrey Capital is a San Francisco-based angel investment and research firm founded in 2008 by WordPress co-creator Matt Mullenweg. It deploys seed and pre-seed capital across 150+ startups in AI, biotech, fintech, and consumer sectors, sourced primarily through Mullenweg's personal network and community connections.

Ownership category

akta.pro rank

Product category

Venture Capital / Angel Investing

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

Keywords

• Angel investment firm
• Seed stage funding
• Early stage venture capital
• Startup portfolio investing
• Open source investments

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Angel Investment Returns: Audrey Capital generates returns through equity investments in early-stage startups. Revenue is realized through portfolio company exits including IPOs (e.g., GitLab, Sonos, Wealthfront, Getaround, SendGrid, Stripe), acquisitions (e.g., sold to Workday, Google, Amazon, eBay, Nestlé, Stripe), and ongoing portfolio value appreciation. Some investments have been marked as RIP (defunct).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Audrey Capital is an angel investment and research company that deploys seed and pre-seed equity capital into early-stage startups while providing strategic guidance, mentorship, and network access. Founded and led by Matt Mullenweg, the firm invests across AI, web technologies, developer tools, biotech, consumer products, and open-source software.

Product overview

Audrey Capital is an angel investment and research company, not a product company. It does not offer a unified product platform or modules. Its primary offering is investment services — providing capital, mentorship, strategic guidance, research support, and network access to early-stage startups. The portfolio companies listed (such as Daylight Computer, Perplexity AI, RunRL, /dev/agents, and others spanning sectors including AI, healthcare, biotech, food, and consumer products) represent ownership stakes in external companies rather than products or services developed by Audrey Capital itself.

Differentiator

Problem solved

Functional benefit

Products and services

• Angel Investment Services Provision of seed and pre-seed equity capital, strategic guidance, mentorship, and network access to early-stage startup founders across sectors including AI, biotech, health, fintech, consumer products, and open-source software.
• Investment Research and Advisory Research and strategic advisory support provided to portfolio companies, drawing on Matt Mullenweg's expertise in open-source, web technologies, and scaling technology businesses.

Quantifiable outcome

• Multiple successful exits including IPOs (GitLab NASDAQ:GTLB 2021, Sonos NASDAQ:SONO 2018, Getaround NYSE:GETR 2022, SendGrid NYSE:SEND 2017) and acquisitions (Stripe, SpaceX, Bear Flag Robotics to John Deere)

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FundersClub: FundersClub is an online venture capital platform enabling accredited investors to invest alongside VC funds in early-stage startups. Comparable to Audrey as a syndicate/angel investment facilitator.
• Republic: Republic is an investment platform offering access to private markets including startup equity, crypto, and real estate. Operates in the same angel/early-stage investor space as Audrey Capital.
• Hustle Fund: Hustle Fund is a pre-seed and seed micro-VC fund. It operates at the same stage and check size as Audrey Capital's investments, with a similar thesis around supporting first-time founders.
• Pioneer Fund: Pioneer is a community-driven angel fund run by operators including Naval Ravikant, offering similar early-stage deal flow aggregation and angel investing as Audrey Capital.
• Lowercase Capital: Lowercase Capital is a founder-led micro-VC fund (Chris Sacca), known for early bets on Uber, Twitter, and Instagram. Directly comparable to Audrey Capital's operator-led angel investment model with concentrated early-stage bets.
• Wefunder: Wefunder is a crowdfunding platform for startup investing, enabling retail and angel investors to participate in early-stage rounds — a peer investment channel to Audrey's direct angel activity.
• Lerer Hippeau: Lerer Hippeau is a New York-based early-stage venture fund that invests at the seed stage, comparable to Audrey Capital's stage and operator-led approach.
• AngelList: AngelList is a platform for angel investing and rolling funds. Audrey is a direct portfolio company and AngelList itself operates as an angel capital facilitator in the same ecosystem as Audrey Capital's investment activities.
• AngelPad: AngelPad is a seed-stage accelerator/angel program founded by ex-Googlers, focusing on early-stage investments similar to Audrey Capital's seed/pre-seed focus.

Broad incumbents

• First Round Capital: First Round Capital is an established seed-stage venture firm. While larger and more institutional than Audrey Capital, it competes in the same seed/early-stage deal flow space and provides a benchmark for institutional angel-adjacent capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/audreycapital
• LinkedInlinkedin.com/company/audrey-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments232 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Audrey Capital