Foundation Capital Fund XI

United States

Seed

About Foundation Capital Fund XI

Foundation Capital Fund XI is a venture capital firm based in United States, focusing on Seed stage investments. The fund actively supports founders building innovative solutions in AI/ML, Web3 Infrastructure, SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionUnited States

Funding StageSeed

Industry Focus

Ai Ml

Saas

Web3 Infrastructure

Investor Signals Profile

active

Sweet Spot

Vertical AI founders owning context layers in specific domains

Enterprise AI

AI production deployment

Enterprise software

Vertical AI

Context graph / decision logic

Agentic platforms

Cybersecurity ops

AI observability & evals

Agent feedback loops

Bullish Signals

Strong enterprise AI thesis focusexternal

Hosted investor day with portfoliolinkedin

Backed pre-PMF vertical AI winnerslinkedin

Published 'context graph' thesis piecelinkedin

Portfolio co Campfire raised Series Blinkedin

2 of 4 YC S23 Series Bs in portfoliolinkedin

Portfolio co Tenor (healthtech AI) Series Blinkedin

Focus shifting: models → vertical layerslinkedin

Led $8M seed: Pulse Security agentic platformlinkedin

Long-term founder partnerships across multiple companieslinkedin

Incubated portfolio co from inceptionlinkedin

Backing agent-human workflow verticals (cybersecurity ops)linkedin

Arize acquisition $915M validates observability thesislinkedin

Agent era requires evals & observability infrastructurelinkedin

Ashu led Arize seed 2020, still advisinglinkedin

Contrarian Signals

Narrow enterprise-only focusexternal

Conviction bets very pre-PMF — high risklinkedin

Founder Do's

Show path from pilot to production

Focus on enterprise use cases

Build domain-specific context layers

Demonstrate exception handling logic

Back 'why now' with conviction early

Build agent-human collaborative workflows

Own vertical operational efficiency

Build evals into agent training loops

Obsess over agent observability & feedback

Founder Don'ts

Don't pitch consumer-facing AI plays

Don't pitch model-layer plays

Don't skip vertical specificity

Key GPs & Partners

Ashu Garg

Partner

AI ops visionaryseed-stage convictionproduct strategist

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Fund Overview

Fund Size$600M

Saves0

Website

Key People

Steve Vassallo, Ashu Garg, Rodolfo Gonzalez

Ashu GargPartner

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