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Venture Capital
subtractioncapital.com

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Investments

28

Portfolio Exits

7

Funds

2

Service Providers

1

About Subtraction Capital

Subtraction Capital is an opportunistic venture fund that works hard to support great entrepreneurs. The fund invests in companies early in their lifecycle, but also invests in mid and late stage companies that have proven track records and more established teams. The fund is led by Managing Partner Jason Portnoy.

Subtraction Capital Headquarter Location

San Francisco, California,

United States

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Latest Subtraction Capital News

Zipline closes $25M funding to expand is medicine drone delivery service

Nov 10, 2016

by Eric David | Nov 10, 2016 | 0 comments This week, San Francisco-based drone startup Zipline Inc. announced that it has closed a $25 million Series B funding round led by Visionnaire Ventures, along with investments from Andreessen Horowitz, Jerry Yang, Sequoia Capital and Subtraction Capital. This brings Zipline’s total funding up to $43 million, which the company says will allow it to expand its operations to new countries. While some companies like Google and Amazon have been testing out drone deliveries with Chipotle burritos and shoes, San Francisco-based startup Zipline Inc. have put drones to work in a slightly more humanitarian role: delivering blood and medicine to difficult to reach locations in Africa and elsewhere. In fact, Zipline launched the world’s first commercial drone service through a partnership with the government of Rwanda. Building roads to remote locations requires a significant amount of time and resources, and even though Rwanda does have roads in many areas, those roads often become impassable due to seasonal flooding. As a result, many of Rwanda’s hospitals find it difficult to restock their supplies of blood and medicine, and Zipline set out to solve this problem by using drones to bypass the roads entirely. According to Zipline, its drones are capable of delivering packages weighing up to about 3.3 pounds across distances of nearly 100 miles, all while travelling at a breakneck speed of roughly 62 miles per hour. This allows Zipline to deliver medical packages across nearly the entire country of Rwanda while launching from a single centralized location. For its project in Rwanda, Zipline also formed a partnership with United Parcel Service of America Inc. (UPS) and Gavi, the Vaccine Alliance, which included an $800,000 grant to help Zipline further develop its technology and infrastructure in the country. “The inability to deliver life-saving medicines to the people who need them the most causes millions of preventable deaths each year. The work of this partnership will help solve that problem once and for all,” Zipline Co-founder and CEO Keller Rinaudo said at the time . “With the expertise and vision of UPS, Gavi and Zipline, instant drone delivery will allow us to save thousands of lives in a way that was never before possible.” According to Zipline’s website, there are roughly 150,000 pregnancy-related deaths each year that could be prevented with reliable access to safe blood supplies. Images courtesy of Zipline Inc.

Subtraction Capital Investments

28 Investments

Subtraction Capital has made 28 investments. Their latest investment was in ICON 3D as part of their Series A - II on January 1, 2021.

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Subtraction Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/5/2021

Series A - II

ICON 3D

$7.02M

Yes

1

7/13/2017

Seed VC - II

100Plus

$3M

No

2

3/2/2017

Seed VC

Cobalt Robotics

$3.5M

Yes

1

11/10/2016

Series B

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$99M

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10

8/2/2016

Seed VC

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$99M

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10

Date

1/5/2021

7/13/2017

3/2/2017

11/10/2016

8/2/2016

Round

Series A - II

Seed VC - II

Seed VC

Series B

Seed VC

Company

ICON 3D

100Plus

Cobalt Robotics

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Amount

$7.02M

$3M

$3.5M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

2

1

10

10

Subtraction Capital Portfolio Exits

7 Portfolio Exits

Subtraction Capital has 7 portfolio exits. Their latest portfolio exit was 100Plus on August 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/24/2021

Acquired

1

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

8/24/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

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Sources

1

10

10

10

10

Subtraction Capital Fund History

2 Fund Histories

Subtraction Capital has 2 funds, including Subtraction Capital 1 LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2013

Subtraction Capital 1 LP

Multi-Stage Venture Capital

$20M

1

Oakhouse Partners Core 2017

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$99M

10

Closing Date

12/31/2013

Fund

Subtraction Capital 1 LP

Oakhouse Partners Core 2017

Fund Type

Multi-Stage Venture Capital

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Status

Amount

$20M

$99M

Sources

1

10

Subtraction Capital Service Providers

1 Service Provider

Subtraction Capital has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

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