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Corazon Capital Fund IV

United States
Pre Seed
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About Corazon Capital Fund IV

Corazon Capital Fund IV is a $100M fund investing in AI-native startups redefining human experience. Based in Chicago with team members across LA, SF, and New York. Focuses on pre-seed to Series A.

Investment Focus

Location / RegionUnited States
Funding StagePre Seed
Industry Focus
Ai Ml
Consumer Commerce

Investor Signals Profile

active

Sweet Spot

Operator-founder building AI-native consumer or prosumer product that reshapes fundamental human behavior

AI-native consumer
behavioral platforms
pre-seed/seed
operator-led
human behavior change
LATAM expansion
urban innovation
youth opportunity
dignified work

Bullish Signals

Fund IV just closed at $100M — fresh capital, early deployment phaseblog
Team expanded to five partners, signaling capacity for 15-20 active investmentsblog
Proven DPI story from prior funds with real exits like TradingView and Brilliantblog
National expansion unlocks deals beyond Chicago; SF, LA, NY all coveredblog
LATAM play emerging: DG Carlos Flores Vargas anchors CDMX ecosystem partnershipstwitter
Founding partner of Distrito Tlalpan innovation hub with TEC Monterrey & UNAMtwitter
DG publishing deep youth opportunity research; 779k CDMX jóvenes oportunidad untapped markettwitter
Dignified-work thesis emerging: 12% CDMX youth access decent jobs, massive opportunity gaptwitter
Urban data infrastructure play: security perception mapping, economic modeling for alcaldíastwitter

Contrarian Signals

Deliberately avoids AI infrastructure, models, and enterprise toolingblog
Only ~15-20 investments per fund — very tight, no thesis drift toleratedblog
Consumer AI crowded at top; Corazon edge depends on entering pre-consensusblog
CDMX social/policy focus suggests some thesis expansion beyond pure consumer AItwitter
DG's focus on youth dignity & labor rights; suggests impact-flavored returns, not pure growthtwitter
63% of out-of-school CDMX youth are women; gender lens could reshape deal sourcing prioritiestwitter

Founder Do's

Show AI is the core product architecture, not a feature layer bolted on
Articulate how AI enables a fundamentally new user behavior, not just a faster old one
Pitch at pre-seed or seed — they enter early before clean retention data exists
Highlight founder-market fit and lived experience with the problem
Be open to non-SF founders; national presence means geography matters less
LATAM founders: Corazon has CDMX footprint via DG Carlos Flores Vargas partnerships
Youth/labor/education solutions in LATAM: DG actively sourcing dignified-work aligned startups

Founder Don'ts

Don't pitch AI infrastructure, foundation models, or enterprise tooling — explicit non-thesis
Don't claim AI-native without architectural proof — team will see through marketing veneer
Don't come in post-seed expecting same receptivity — they bet on thesis-fit early

Key GPs & Partners

SY
Sam Yagan
Co-Founder & Managing Partner
ex-founderhands-onmetrics-driven
PS
Phil Schwarz
Co-Founder & Managing Partner
thesis-drivenmetrics-driven
AS
Alison Stillman
Partner
community-builderex-foundercontrarian
GJ
Greg Johnston
Partner
hands-on
SJ
Smriti Jayaraman
Partner
hands-on
CFV
Carlos Flores Vargas
Director General
civic-engagedpolicy-connectedurbanism-focused

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Fund Overview

Fund Size$100M
Saves0
Website
LinkedIn

Key People

Sam Yagan, Steve Farsht

Sam YaganCo-Founder & Managing Partner
Phil SchwarzCo-Founder & Managing Partner
Alison StillmanPartner
Greg JohnstonPartner
Smriti JayaramanPartner
Carlos Flores VargasDirector General

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