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§ Venture Capital · San Francisco, CA, USA
Global early-stage venture capital firm investing in technology startups, focused on education, digital health, and future of work.
Fresco Capital is a global early-stage venture capital firm based in San Francisco, Singapore, and Hong Kong that makes thesis-driven investments at the intersection of human capital and technology. The firm primarily focuses on seed and early-stage startups operating within the education, digital health, and enterprise software sectors that are building solutions for the future of living and working. Currently deploying capital from its fourth flagship fund, the firm has invested in nearly 80 startups globally and achieved 16 significant portfolio exits as of 2023. Its active investment portfolio features notable technology companies such as medical education software provider Thalamus and enterprise insurance platform CoverGo. The distributed investment team includes managing partners Stephen Forte and Heyu Huang, who provide strategic guidance to portfolio companies. Fresco Capital was originally founded in 2012 by managing partner Tytus Michalski.
Key people at Fresco Capital.
Fresco Capital was founded in 2011 by Stephen Forte (Co-Founder & Managing Partner) and Allison Baum (Co-Founder, Managing Partner).
Fresco Capital was founded in 2011 by Stephen Forte (Co-Founder & Managing Partner) and Allison Baum (Co-Founder, Managing Partner).
Key people at Fresco Capital.
Fresco Capital is a global early-stage venture capital firm dedicated to supporting exceptional entrepreneurs building innovative businesses at the intersection of people and technology. The firm’s mission centers on empowering founders with flexible, founder-aligned investment and strategic guidance, leveraging a global network to help startups scale and exit. Fresco Capital’s investment philosophy emphasizes curiosity, purpose, courage, integrity, and authenticity, aiming to back startups that not only deliver strong returns but also create meaningful impact.
The firm primarily invests in sectors such as artificial intelligence, machine learning, SaaS, enterprise software, analytics, and edtech. With a strong presence in North America and Asia, Fresco Capital has played a notable role in the startup ecosystem by backing companies like Spire Global, Evidation Health, and Basis, and by fostering cross-border innovation. Its approach has helped bridge the gap between Silicon Valley and emerging Asian tech hubs, supporting founders at pivotal inflection points.
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Fresco Capital was founded in 2011, with its roots in Hong Kong and a rapidly expanding global footprint. The firm was established by a team of experienced investors and entrepreneurs who recognized the growing potential of startups operating at the intersection of technology and human-centric solutions. Over the years, Fresco Capital has evolved from a regional player into a globally recognized venture firm, with managing partners based in San Francisco and Singapore, and additional offices in Tokyo.
The firm’s early years were marked by a focus on sourcing high-potential startups from both the U.S. and Asia, with an emphasis on disciplined collaboration and founder empowerment. Fresco Capital’s ability to identify and support startups with strong teams and scalable ideas helped it build a reputation for backing companies that go on to achieve significant growth and successful exits.
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Fresco Capital is riding the wave of globalization in venture capital, as startups increasingly look to scale across borders and tap into diverse markets. The firm’s dual presence in Silicon Valley and Asia positions it at the forefront of cross-border innovation, helping startups navigate regulatory, cultural, and market challenges in both regions.
The timing is critical: as AI, SaaS, and data-driven technologies continue to transform industries, Fresco Capital’s focus on these sectors aligns with major market trends. The firm’s ability to connect startups with global talent, customers, and investors gives its portfolio companies a competitive edge in an increasingly interconnected world. By fostering collaboration between the U.S. and Asia, Fresco Capital is helping shape the next generation of global tech leaders.
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Fresco Capital is well-positioned to continue its growth as a leading global early-stage VC, especially as the lines between Silicon Valley and Asian tech ecosystems blur. The firm’s founder-centric philosophy, global network, and sector expertise will remain key advantages in a competitive landscape.
Looking ahead, Fresco Capital is likely to deepen its focus on AI-driven solutions, cross-border expansion, and founder empowerment. As the venture capital industry evolves, the firm’s ability to adapt and support startups through changing market conditions will be crucial. Fresco Capital’s influence will likely grow, not just as a source of capital, but as a catalyst for innovation and global collaboration in the tech ecosystem.
Fresco Capital’s journey—from a regional VC to a global player—reflects the broader trend of globalization in venture capital, and its future will be shaped by its ability to continue connecting exceptional founders with the resources they need to build remarkable businesses.
Fresco Capital has more than 26 tracked investments across 19 companies. The latest tracked deal is $40.0M Series A in Reap in October 2022.