Investor profile
Incisive Ventures
Micro-fund
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Incisive Ventures is a pre-seed venture capital firm based in Seattle, founded in 2020 by Martin Tobias. The firm's core thesis is investing in 'technology companies that reduce friction at scale'—inspired by transformational companies like Amazon (frictionless shopping) and Uber (frictionless transportation) that fundamentally changed how we interact with services by eliminating unnecessary complexity. The firm focuses on B2B software, particularly AI applications in legacy and regulated industries such as healthcare, supply chain, and fintech where process friction is highest. Operating as a 'theme syndicate' with a high-conviction, low-volume model, Incisive uses low-cost investment vehicles designed to boost LP returns. The firm writes $250k–$500k checks at pre-seed into companies that have already built an MVP and brought it to market. With a $10.5M inaugural fund closed in May 2025, 74% of portfolio companies have gone on to raise follow-on institutional financing—approximately 2.5x the industry average.
Notable quotes
“After 20 years of investing and over 300 investments, it is more clear than ever that pre-seed investing isn't about spreadsheets and market projections—it's about people and pattern recognition.”
“At Incisive Ventures we back founders who turn previously impossible problems into tractable businesses.”
“Incisive Ventures is focused on investing in the first institutional round of technology companies that reduce friction at scale.”
Team
Martin Tobias
Founder & Managing Partner (Solo GP)
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Mangxo | Series A | — | 2025 |
| Moddule | Seed | $2m | 2025-05-30 |
| Grw AI | Pre-Seed | — | 2024-11-19 |
| Tangibly | Seed | $7m | 2023-07-14 |
| Katalyst | Series A | $26m | 2022-10-04 |
| Vega Cloud | Seed | $9m | 2022-10-02 |
| WorkRails | Seed | — | 2021-09-16 |
| Public | Seed | — | 2021-12-20 |
| Hapbee Technologies | Seed | — | 2020 |
| TRIPP | Seed | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Mucker Capital | 2 |
| Unlock Venture Partners | 2 |
| Madrona Venture Group | 1 |
| Album VC | 1 |
| Sun Mountain Capital | 1 |
| Stripes | 1 |
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