Investor profile
Emergence Capital
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Emergence Capital partners with founders transforming the way the world works, focusing exclusively on B2B software. The firm's edge is recognizing emerging business models early—from its contrarian 2003 bet on horizontal SaaS with Salesforce, to backing Veeva as the sole venture investor in its 2008 Series A, to today's conviction in AI-Native Services (companies that sell outcomes rather than software). Each Partner makes just one investment per year, ensuring deep, full-team commitment to every founder from first check to IPO. With Fund VII ($1 billion, closed March 2025), Emergence is laser-focused on the AI era, building early expertise across AI infrastructure, physical-world AI, and AI-Native Services—codified in its AINS Playbook. The firm's track record spans over $9B in realized returns on less than $2.5B invested, with more than 1-in-5 early-stage investments surpassing $1B in valuation and more than 1-in-10 going public.
Notable quotes
“It's a generational opportunity for AI investing, period.”
“Genspark unlocks something entirely new for enterprises: autonomous execution that delivers finished work, not just assistance. We've got our pulse on the AI workspace category, and no one has cracked this until now.”
“The right focus is the constant that achieves unimaginable goals.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Salesforce | Early Stage | — | 2003-01-01 |
| Veeva Systems | Series A | — | 2008-01-01 |
| Zoom | Series B | — | 2015-01-01 |
| Gusto | Series A | — | 2013-01-01 |
| Doximity | Series A | — | 2011-01-01 |
| Physical Intelligence | Series B | — | 2024-01-01 |
| Genspark | Series B | $275m | 2025-11-20 |
| Together AI | Series A | — | 2023-01-01 |
| Bland | Series A | — | 2025-01-29 |
| Ironclad | Series A | — | 2019-01-01 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| 8VC | 8 |
| Georgian Partners | 8 |
| Sequoia Capital | 7 |
| Scale Venture Partners | 7 |
| Insight Partners | 6 |
| Y Combinator | 6 |
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