Kivu Ventures

What Kivu Ventures does

Kivu Ventures is a private, early-stage venture capital firm that invests in Series A and Series B companies, deploying up to $15 million per investment. The firm is thesis-driven around vertical AI and AI infrastructure, with adjacent exposure to digital health, logistics, deeptech, and fintech. Founded by Seth Berman, who co-founded Susa Ventures, Kivu explicitly differentiates itself from large multi-stage funds through more flexible ownership thresholds and a network-driven value-add that includes customer introductions, talent recruitment, follow-on capital support, and access to operators and founders.

Kivu does not sell products or services to end customers. As a fund manager, its revenue is generated through equity returns from portfolio company exits and management fees, with no public revenue, AUM, or fund-size disclosure. The firm operates with a small team: Founder and General Partner Seth Berman; Investment Partner Emery Wells (co-founder of Frame.io, acquired by Adobe for $1.275B); Venture Partners Michael Stoppelman (former SVP Engineering at Yelp) and Paul Sciarra (co-founder and first CEO of Pinterest, Executive Chairman of Joby Aviation); and Head of Finance Kenny Joo (previously at Y Combinator and Sofinnova Ventures). Sister-fund relationships with Susa Ventures and Humba Ventures provide a deal-sourcing ecosystem.

The portfolio is diversified across AI Infrastructure and Security (Expanse, acquired by Palo Alto Networks for $800M; Mux; Namespace; Qodo AI), Vertical AI (Magenta, Owl AI, Promise AI, Pulley, Workramp), Healthcare (Chapter, HOPPR AI, New Limit, Osmind, Ostro, Plenful, Superpower, Viz.ai), Logistics (Flexport, Loop, Stord), Fintech (Human Interest, Newfront Insurance, Nova Credit, Robinhood, Stedi), and Consumer (Omio, Whoop). Distribution is direct: Kivu negotiates equity investments directly with founders of Series A and B companies, with marketing and deal origination conducted through portfolio showcases, thesis publication, partner credentialing, sister-fund referrals, and direct outreach to top operators.

Name

Kivu Ventures

Legal name

Kivu Ventures

Website

https://kivu.vc

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Kivu Ventures is a private venture capital firm investing in Series A and B companies, with a focused thesis on vertical AI and AI infrastructure, deploying up to $15 million per company and adding value through an operator network.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital
• Series A investing
• AI infrastructure
• Early-stage funding
• Growth capital

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Distribution channels1 record

Marketing channels5 records

Core offering

Kivu Ventures is an early-stage venture capital firm that invests up to $15 million per company in Series A and Series B stage companies. Its core focus is vertical AI and AI infrastructure, with secondary areas in logistics, digital health, deeptech, and fintech. Beyond capital, portfolio companies receive assistance with capital raising, customer introductions, talent recruitment, and access to a network of experienced operators and founders.

Product overview

Kivu Ventures is an early-stage venture capital firm that does not operate a traditional product or software platform. The firm focuses on investing in Series A and Series B companies, offering up to $15 million per company, with investment theses in vertical AI, AI infrastructure, logistics, digital health, deeptech, and fintech. Their services are investment and partnership-focused rather than product-based, providing portfolio companies with capital raising assistance, customer introductions, talent recruitment, and access to world-leading experts. The company operates as a single investment vehicle without distinct product modules, platforms, or named service offerings beyond its core venture investment activities.

Differentiator

Problem solved

Functional benefit

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Susa VenturescoreOthers
• Humba VenturesminorOthers

Recent moves5 records

Expansion highlights5 records

Direct peers

• Susa Ventures: Sister fund co-founded by Seth Berman, with overlapping deal sourcing, similar early-stage Series A/B focus, and shared Flexport/Expanse/Chapter/Pulley history. Most directly comparable entity due to shared GP and shared operating model.
• Humba Ventures: Explicitly named sister fund to Kivu, with co-investment and referral relationships. Same stage focus and thematic overlap, making it the closest peer in fund structure and sourcing.
• Lux Capital: Early-stage venture firm with deep focus on AI infrastructure, deeptech, and frontier technology. Directly comparable to Kivu's vertical AI / AI infrastructure thesis and Series A/B entry points.
• Conviction Partners: AI-native venture firm founded by Sarah Guo, investing in applied AI and AI infrastructure at early stages. Closely comparable in thematic specialization and stage to Kivu's vertical AI focus.
• Greycroft: Co-led HOPPR AI's $31.5M Series A alongside Kivu, indicating co-investment overlap in the AI infrastructure thesis. Comparable as an early-stage consumer/enterprise/AI investor.
• Zetta Venture Partners: Pioneer AI-first venture firm focused on intelligent systems, infrastructure, and applied AI at early stages. Strong thematic match to Kivu's AI infrastructure / vertical AI orientation.

Broad incumbents

• Andreessen Horowitz: Mega-fund with extensive AI investing across infrastructure and applications, including the a16z bio/health and infrastructure teams. Comparable in thesis breadth but operates at a vastly larger fund size and check scale than Kivu.
• Sequoia Capital: Premier generalist venture firm with significant AI and infrastructure exposure at Series A/B+. Comparable in stage and category, but with far deeper pockets, broader sector mandate, and longer fund history than Kivu.

Emerging players

• Costanoa Ventures: Early-stage venture firm with developer-tools, AI, and infrastructure focus. Comparable as a Series A/B specialist, though typically with a broader enterprise software scope than Kivu's narrower AI emphasis.
• First Round Capital: Seed and Series A specialist with strong founder community emphasis (similar to Kivu's operator network pitch). Comparable in stage and founder-friendly positioning, though broader in sector coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kivu-ventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about Kivu Ventures