When was Palm Drive Capital founded?

Palm Drive Capital was founded in 2014.

Where is Palm Drive Capital's headquarters located?

Palm Drive Capital's headquarters is located in New York City ( United States ).

How big is Palm Drive Capital's investment team?

Palm Drive Capital has a team of 12, including 4 partners.

How many companies has Palm Drive Capital invested in?

Palm Drive Capital has invested in 104 companies, including Flutterwave & Addepar.

Which companies has Palm Drive Capital invested in lately?

Phase & MealMe are the latest investments by Palm Drive Capital.

What sectors does Palm Drive Capital focus on for investments?

Top sectors in Palm Drive Capital's portfolio are Enterprise Applications (48 investments) and Consumer (39 investments).

What stages of companies does Palm Drive Capital typically invest in?

Palm Drive Capital primarily invests in Seed and Series A stages.

How many exits has Palm Drive Capital been involved in?

Palm Drive Capital's portfolio has seen 2 IPOs and 13 acquisitions.

How many unicorns are there in Palm Drive Capital's portfolio?

There are 13 unicorns in Palm Drive Capital's portfolio.

Palm Drive Capital - 2025 Investor Profile, Portfolio, Team & Investment Trends - Tracxn

1. Flutterwave

Provider of payment processing solutions for businesses. The solutions include payment gateway API, mobile payment, credit and debit card processing, payment links, issuing physical and virtual cards, invoice management, and more. The payment gateway API allows merchants to accept online payments, while users can pay via payments cards and mobile wallets.

Key facts about Flutterwave

Founded Year: 2016
Location: San Francisco (United States)
Valuation: $3B as on Feb 16, 2022
Stage: Series D
Total Funding till date: $489M
Investors: Glynn Capital, Alrai Capital and 68 Others
Latest Funding Round: Series D, Feb 16, 2022, $250M
Highlight: Editors' Pick

2. Addepar

Addepar is a wealth management solution for investment advisors. It offers solutions for data aggregation, analytics, and portfolio reporting for investment advisors. The product caters to family offices, RIAs, foundation and endowments, global advisories, banks, financial services firms, and wirehouses.

Key facts about Addepar

Founded Year: 2009
Location: Mountain View (United States)
Valuation: $3.25B as on May 26, 2025
Stage: Series G
Total Funding till date: $759M
Employee Count: 560 as on Dec 31, 2022
Investors: SeedFord Partners, EDBI and 56 Others
Latest Funding Round: Series G, May 13, 2025, $230M
Highlight: Editors' Pick

3. Spire

Developer of cloud, AI, and satellite-based data and analytics solutions. It provides users with a platform that offers tools to build and manage a constellation of nanosatellites that would collect data about the earth and the satellites feature predictive analytics solutions. It allows users to track data on aeronautics, aviation, geospatial analysis, ground, space, and government. It also has use cases for weather, maritime, aviation, orbital services, and other applications. It offers API on multi-industry documentation and weather forecast reports.

Key facts about Spire

Founded Year: 2012
Location: San Francisco (United States)
Annual Revenue: $80.3M as on Dec 31, 2022
Stage: Public
Total Funding till date: $246M
Employee Count: 447 as on Dec 31, 2024
Investors: Francisco Partners, Mitsui and 39 Others
Latest Funding Round: Post IPO, Mar 13, 2025, $40M
Highlight: Public

4. Eight Sleep

Eight sleep provides an AI-based internet-first brand of thermoregulated mattress, carbon air pillow, and smart mattress cover that is controlled via smartphone. It allows the user to set the temperature of the mattress independently and monitor the body vitals such as breathing and heart-rate variability. This control allows the user to fall asleep faster and improves the quality of sleep. The app can be connected with other smart devices to monitor sleep activity. GentleRise wake-up technology allows users to wake up with a temperature and gentle vibration at the chest level.

Key facts about Eight Sleep

Founded Year: 2014
Location: New York City (United States)
Stage: Series C
Total Funding till date: $173M
Employee Count: 61 as on Dec 31, 2022
Investors: SoftBank Group, A-Rod and 80 Others
Latest Funding Round: Series C, Jun 09, 2021, $87.6M
Highlight: Editors' Pick

5. BITMAIN

Developer of hardware solutions for crypto mining. It provides users with a platform that is based on the application-specific integrated chip miner technology for Bitcoin mining. It also offers cloud solutions, for blockchain and artificial intelligence applications.

Key facts about BITMAIN

Founded Year: 2013
Location: Beijing (China)
Valuation: $14.5B as on Aug 13, 2018
Stage: Series C
Total Funding till date: $950M
Investors: EDBI, HPR Capital and 25 Others
Latest Funding Round: Series C, Aug 13, 2018, $560M
Highlight: Editors' Pick

Want to see the entire list?

Palm Drive Capital has invested in 104 companies over the last 11 years, with an average of 5 new investments annually in the last 10 years. In 2024, it made 9 investments, while as of Feb 2025, it has made 1 investment in this year. Its most recent first time investment was in Phase and most recent follow-on round was in MealMe.

Here are Palm Drive Capital's Year-on-Year Investment Trends:

Year	No. of Investments
Year	1^st Round	Follow-on	Total
2025 (YTD)	1	0	1
2024	7	2	9
2023	5	0	5
2022	15	1	16
2021	10	1	11
2020	3	0	3
2019	1	0	1
2018	2	0	2
2017	6	0	6

View all investments by Palm Drive Capital

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Palm Drive Capital has made 26 investments in Seed stage with an average round size of $4.4M, 13 investments in Series A stage with an average round size of $18M and 7 investments in Series B stage with an average round size of $28.4M.

Here are Palm Drive Capital's investments by stage:

Note: We have considered here, only first round of investments

Stage of entry	No. of Investments
Seed	26
Series A	13
Series B	7
Series C	3
Series D	1
Others	1

View all investments by Palm Drive Capital

Palm Drive Capital has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, FinTech, Retail and Blockchain Technology. Notably, it has invested in 97 Tech companies, 62 Enterprise (B2B) companies, 53 Software companies and at least 46 companies focusing on Consumer (B2C).

Here are Palm Drive Capital's investments by sector:

Note: We have considered here, only first round of investments

Sector	No. of Investments
Consumer	26
Enterprise Applications	21
FinTech	16
Retail	11
Blockchain Technology	8
Others	59

View all investments by Palm Drive Capital

Palm Drive Capital has made most investments in United States (27), followed by Colombia where it has made 4 investments.

Here are Palm Drive Capital's investments by geography:

Note: We have considered here, only first round of investments

Country	No. of Investments
United States	27
Colombia	4
Singapore	3
United Arab Emirates	3
Nigeria	2
Others	11

View all investments by Palm Drive Capital

Palm Drive Capital has made 1 investments in 2025 so far - Phase.

Here are the most recent investments by Palm Drive Capital:

Date	Company	Location	Round Details	Round Amount	Co-Investors
Feb 14, 2025	Phase	Germany	Series A	$13M	Gobi Partners [+7]
Oct 31, 2024	MealMe	United States	Series A	$8M	Mercury Fund [+1]
Oct 24, 2024	Partyicons	-	Seed	$9M	BITKRAFT Ventures [+12]
Oct 03, 2024	LemFi	United Kingdom	Series B	$53M	Highland Europe [+3]
Jun 12, 2024	Stanly	United States	Seed	$8M	C Capital [+2]

Get the detailed list of all investments by Palm Drive Capital. Download now!

See more recent investments made by Palm Drive Capital

Palm Drive Capital has 13 unicorns in its portfolio - Front, Addepar, Matrixport and others. The most recent unicorn in their portfolio is Front. It became a unicorn in 2022, 2 years before Palm Drive Capital first invested in it.

Here is a list of unicorns in Palm Drive Capital's portfolio:

Tracxn Score	Company	Short Description	Founded year	Sector	Location	Company Stage	First Investment/ Acquisition Details
70	Front	Provider of customer communication and experience management platform	2013	Enterprise Applications	San Francisco	Series D	imzckjn
79	Addepar	Wealth management solutions for advisors	2009	FinTech [+1]	Mountain View	Series G	iufyqsi
70	Matrixport	App-based platform offering crypto investment products and financial services solutions	2019	FinTech [+2]	Singapore	Series C	ezxnfah
70	Capsule	Provider of an online pharmacy for delivering medicines	2015	HealthTech [+1]	New York City	Series D	riwtb{u
79	Flutterwave	Provider of payment processing solutions for businesses	2016	FinTech [+2]	San Francisco	Series D	fpxpxih

View more details about unicorns in Palm Drive Capital's portfolio

2 of Palm Drive Capital's portfolio companies have become public. Merqueo got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Dec 2022 and Spire got listed on the New York Stock Exchange (NYSE) at marketcap of $200M.

Here are Palm Drive Capital's portfolio companies that went public:

Company	IPO Date	First Invested on	First Round of Investment	Round Size
Merqueo	Dec 27, 2022	Jul 29, 2021	Series C	$50M
Spire	Aug 17, 2021	-	-	-

View more details about public companies in Palm Drive Capital's portfolio

13 companies from Palm Drive Capital's portfolio have been acquired. The most recent acquisition were Bench in Dec 2024.

Here are Palm Drive Capital's portfolio companies that got acquired most recently:

Company	Acquisition Date	First Invested on	First Round of Investment	Round Size
Bench	Dec 30, 2024	-	-	-
Umba	Feb 20, 2024	Apr 13, 2022	Series A	$15.5M
NUE Life	Oct 26, 2023	Apr 19, 2022	Series A	$23M
Magic Leap	Dec 28, 2022	-	-	-
Long Game	May 03, 2022	-	-	-

View all acquired companies in Palm Drive Capital's portfolio

Palm Drive Capital has a team of 12 members including 4 Partners, 2 Venture Partners and 5 Principals located in United States, Taiwan and 1 more locations. Palm Drive Capital's team does not sit on the board of any company as of now.

Here is a list of top team members in Palm Drive Capital:

Name	Designation	Location	Board Memberships	Contact details
Hendrick Lee	Partner	New York City	-	1 Email
Seamon Chan	Partner	New York City	-	3 Emails
Catherine Cai	Partner	New York City	-	1 Email
Nicholas Hsu	Partner	New York City	-	1 Email
Salem Bou Aoun	Venture Partner	United Arab Emirates	-	1 Email
Cathy Hwang	Venture Partner	Taipei	-	-
Henry Woram	Principal	New York City	-	1 Email
Tudor Muntianu	Principal	Salt Lake City	-	1 Email
Yu-Jen Tai	Principal	Taipei	-	-
Lesley L	Principal	New York City	-	-
Fisher Tai	Principal	-	-	1 Email

Get the full list of Palm Drive Capital's team & partners for free. Download now!

View team details of Palm Drive Capital

Over the past 11 years, 497 investors have co-invested in Palm Drive Capital's portfolio companies.

Invested before Palm Drive Capital: Y Combinator, 500 Global and 118 others have invested in rounds before Palm Drive Capital. There are 8 companies where Y Combinator has invested before Palm Drive Capital and 6 companies where 500 Global has invested before Palm Drive Capital.
Top Co-investors of Palm Drive Capital: 296 investors entered a company along with Palm Drive Capital. These include investors like Soma Capital (6 companies).
Invested after Palm Drive Capital: A total of 81 investors have invested in Palm Drive Capital's portfolio after their investments. Top Investors include JAM Fund (2 companies), Justin Mateen (2 companies) and 500 Global (2 companies).