SNR

What SNR does

SNR is a venture capital firm that provides early-stage capital and operational partnership to ambitious technology founders. Founded in 2013 by Kevin Mahaffey, co-founder of cybersecurity unicorn Lookout, and operated with partner Amit Gupta (a former leader at Qualcomm, INQ Mobile, Lookout, and Benchling), SNR positions itself as a "first-believer" investor targeting founders building transformative companies in AI, software, robotics, biotechnology, and cybersecurity. The firm is legally organized as SNR Ventures Management, LP, a California limited partnership, and maintains an active portfolio of more than 50 companies that includes Airtable, Benchling, Coco, Lattice, and the acquired Demisto.

SNR's core offering is direct venture investment alongside operational support, crisis and breakthrough partnership, and a stated focus on equity-efficient execution paths. Its go-to-market is founder-led sourcing, supplemented by warm introductions, Y Combinator connections (Mahaffey is a YC part-time partner), and public thought leadership via the "Signal to Noise Ratio" Substack newsletter authored by Mahaffey and a portfolio showcase on snr.vc. The firm monetizes through standard VC fund mechanics, principally management fees on committed capital and carried interest on fund profits, though AUM, fund size, and revenue are not publicly disclosed. Recent activity includes a March 2026 co-investment in Augur's $15 million seed round led by Plural, extending the portfolio into European AI-driven critical-infrastructure security.

Name

SNR

Legal name

SNR Ventures Management, LP

Website

https://snr.vc

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

SNR is a San Francisco-based early-stage venture capital firm founded in 2013 by Lookout co-founder Kevin Mahaffey, investing "first-believer" capital in ambitious AI, software, robotics, biotech, and cybersecurity startups across a 50+ company portfolio.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Early-stage venture capital
• Technology startup investing
• Seed stage funding
• Founder partnership
• Equity 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, Marketing or Sales, Others

Distribution channels1 record

Marketing channels4 records

Core offering

SNR is a venture capital firm that provides early-stage equity capital and operational partnership to ambitious technology founders. It invests in startups working on transformative technologies across AI, software, robotics, biotech, and cybersecurity, positioning itself as a 'first-believer' investor that supports founders from inception through crises and breakthroughs.

Product overview

SNR (Signal to Noise Ratio) is a venture capital firm that serves as a first-believer investor in ambitious technology startups. The firm operates through two primary offerings: its core venture capital investment services (SNR Ventures Management) and an educational thought leadership newsletter (Signal to Noise Ratio). The investment arm identifies and supports early-stage companies working on transformative technologies, while the newsletter provides public insights on technology investing and company building authored by co-founder Kevin Mahaffey.

Differentiator

Problem solved

Functional benefit

Products and services

• SNR Ventures Management Core venture capital fund operation that identifies, evaluates, and invests equity capital in early-stage technology startups across AI, software, robotics, biotech, and cybersecurity; for founders and entrepreneurs building transformative companies.
• Signal to Noise Ratio Newsletter Substack newsletter authored by Kevin Mahaffey covering technology investments, company building, and industry insights.

Quantifiable outcome

• Multiple unicorn companies and successful exits in portfolio including Lookout, Lattice, Benchling, Airtable, and acquired companies

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 moves4 records

Expansion highlights4 records

Direct peers

• Eniac Ventures: Early-stage seed fund focused on technical founders, with a thesis spanning AI, infrastructure, and consumer. Comparable to SNR in stage, check size, and technical-founder focus.
• Liquid 2 Ventures: Y Combinator-affiliated early-stage fund led by Joe Montana, investing primarily in YC startups. Comparable to SNR as a small, founder-network-driven seed fund leveraging YC deal flow.
• Pear VC: Pre-seed and seed fund co-founded by Pejman Nozad and Mar Hershenson, with strong ties to Stanford and YC. Comparable to SNR in early-stage focus and operator-investor positioning.
• Unusual Ventures: Operator-led early-stage fund by Jyoti Bansal, backing technical founders in AI, infrastructure, and dev tools. Comparable to SNR in operator-investor DNA and early-stage focus.
• Lerer Hippeau: Early-stage seed and Series A fund focused on consumer, enterprise, and frontier tech. Comparable to SNR in stage, thesis breadth, and founder-first positioning.
• Homebrew: Operator-led seed fund by Hunter Walk and Satya Patel, focused on early-stage infrastructure, consumer, and developer tools. Comparable to SNR in size, stage, and founder-first thesis.
• Notation Capital: Technical-founder-focused pre-seed and seed fund backing developer tools, AI, and infrastructure. Comparable to SNR in stage, technical-founder orientation, and small-team structure.
• Hustle Fund: Pre-seed and seed fund investing across sectors with a focus on accessible, founder-friendly terms. Comparable to SNR in stage, check size, and horizontal seed approach.
• Garuda Ventures: Early-stage fund focused on technical and diverse founders across AI, robotics, and infrastructure. Comparable to SNR in stage, thesis breadth, and founder-first differentiation.

Broad incumbents

• Y Combinator (continuity / partner network): The accelerator from which SNR sources deal flow and where Kevin Mahaffey is a part-time partner. Comparable as the originating platform for SNR's deal funnel and a broader incumbent in early-stage startup formation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/dropalltables
• LinkedInlinkedin.com/company/snrvc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments40 records

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

Frequently asked questions about SNR