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Initialized Capital

Initialized Capital is an early-stage venture firm founded in 2012 by Garry Tan, Alexis Ohanian and Harjeet Taggar, known for writing first cheques into Coinbase, Patreon and Instacart. Partner Andrew Lee brought Toronto's Taplytics to the TechTO stage in April 2021.

Venture CapitalSan FranciscoFounded 2012initialized.com
$230Mfund five, closed August 2020TechCrunch, 2020-08-14
$225Mfund four, closed October 2018CNBC, 2018-10-02
5 fundsraised by the time of the TechTO appearance, still investing as a generalist firmTechTO stage 2021-04-04

The people

Andrew LeePartner · 1 TechTO talk
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Garry TanCo-founderprofile coming
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Alexis OhanianCo-founderprofile coming
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Harjeet TaggarCo-founderprofile coming

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Working at Initialized Capital

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Open roles on the TechTO Job Board ↗Or their own careers page: initialized.com/careers ↗

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On the TechTO stage

Every talk is searchable — ask the archive about Initialized Capital

About

Initialized Capital started in 2012 as a $7M fund run by Garry Tan, Alexis Ohanian and Harjeet Taggar while they were partners at Y Combinator, and grew through a $39M fund in 2013, $115M in 2016 and $225M in 2018. Fund five closed at $230M in August 2020, with Ohanian having stepped away. It stayed generalist and stayed early — first cheques into Coinbase, Patreon and others. Its Canadian thread runs through Taplytics, one of the first Canadian companies to go through Y Combinator and return to Toronto afterwards; partner Andrew Lee joined Taplytics co-founder Aaron Glazer on TechTO's Founders & Funding in April 2021.

Backers

An independent venture firm; limited partners are not public

Some figures are founder-stated, not independently confirmed

More from TechTO ×1

Quick answers

Who founded Initialized Capital?

Garry Tan, Alexis Ohanian and Harjeet Taggar, in 2012, while they were partners at Y Combinator. Ohanian had left by the time fund five closed in 2020.

What does it invest in?

Early-stage companies across sectors — it describes itself as a generalist firm that cares about a company's ability to scale. Its best-known early cheques include Coinbase and Patreon.

What is its Canadian connection?

Taplytics, the Toronto feature-management and experimentation platform. Partner Andrew Lee appeared with co-founder Aaron Glazer on TechTO's Founders & Funding in April 2021.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 19, 2026