Investments
28Portfolio Exits
7Funds
2Service Providers
1About 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.

Want to inform investors similar to Subtraction Capital about your company?
Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.
Latest Subtraction Capital News
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 as part of their Series A - II on January 1, 2021.

Subtraction Capital Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
1/5/2021 | Series A - II | Icon | $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 | |||||
8/2/2016 | Seed VC |
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 | 100Plus | Cobalt Robotics | ||
Amount | $7.02M | $3M | $3.5M | ||
New? | Yes | No | Yes | ||
Co-Investors | |||||
Sources | 1 | 2 | 1 |
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 | |||
Date | 8/24/2021 | ||||
---|---|---|---|---|---|
Exit | Acquired | ||||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 |
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 | Closed | $20M | 1 |
Oakhouse Partners Core 2017 |
Closing Date | 12/31/2013 | |
---|---|---|
Fund | Subtraction Capital 1 LP | Oakhouse Partners Core 2017 |
Fund Type | Multi-Stage Venture Capital | |
Status | Closed | |
Amount | $20M | |
Sources | 1 |
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
Subtraction Capital Team
1 Team Member
Subtraction Capital has 1 team member, including former Chief Financial Officer, Ryan Davis.
Name | Work History | Title | Status |
---|---|---|---|
Ryan Davis | Utah Capital Investments, University Venture Fund, Zions First National Bank, and KPMG | Chief Financial Officer | Former |
Name | Ryan Davis |
---|---|
Work History | Utah Capital Investments, University Venture Fund, Zions First National Bank, and KPMG |
Title | Chief Financial Officer |
Status | Former |
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.