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M12 (Microsoft's Venture Fund) logo

M12 (Microsoft's Venture Fund)

USGBDEFRILAUSGCAOtherAI/MLCybersecurityDevtoolsB2B SaaSEnterpriseDeep TechFintechHealthtech

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Investment thesis

M12 invests in promising seed-through-Series-B companies that are changing the way we live and work, harnessing the power of Microsoft to help today's most innovative startups become tomorrow's technology leaders. The fund's strategy is tightly aligned to Microsoft, focusing on five core areas: AI Apps, Security for AI, AI Cloud Infrastructure, AI Data Ops & Models, and Deep Tech & Systems. As Michelle Gonzalez, Corporate Vice President and Global Head of M12, states: 'We've leaned into the M of M12. Our investment strategy is tightly aligned to Microsoft. This helps us create exceptional value through connections, customers, and unique benefits for our portfolio companies.' M12 is uniquely positioned to support founders tackling enterprise challenges because it invests where Microsoft brings deep expertise—enterprise environments, technology, global scale, and mission-critical systems—providing portfolio companies with access to Microsoft's enterprise customers, Azure credits, GitHub distribution, and the M12 CISO Network.

Notable quotes

“We've leaned into the M of M12. Our investment strategy is tightly aligned to Microsoft. This helps us create exceptional value through connections, customers, and unique benefits for our portfolio companies.”

Michelle Gonzalez · https://m12.vc

“M12 is uniquely positioned to support founders tackling these challenges because we invest where Microsoft brings deep expertise—enterprise environments, technology, global scale, and mission-critical systems. Our investors are thesis driven and often will spend months getting to know a space, going deep, which builds credibility with founders before an investment.”

M12 Investment Team · https://www.microsoft.com/en-us/microsoft-cloud/blog/2026/02/10/fyai-why-startups-will-help-accelerate-global-ai-transformation/ · 2026-02-10

“Reach is redefining [what AI-powered security looks like]. Their AI-powered assistant and extensible [platform] align directly with the needs of enterprise [customers navigating] Trust, navigating compliance, and helping customers migrate to [modern security].”

Todd Graham · https://www.prnewswire.com/news-releases/reach-security-announces-10-million-strategic-investment-from-m12-microsofts-venture-fund-302515033.html · 2025-07-29

Team

Alan Du

Partner

AI/MLEnterprise

Cheryl Cheng

Managing Partner

HealthtechEnterpriseB2B SaaSDevtools

Michael Stewart

Managing Partner

AI/MLDeep TechEnterprise

Michelle Gonzalez

Corporate Vice President and Global Head

AI/MLEnterpriseB2B SaaS

Peter Lenke

Managing Partner

AI/MLDevtoolsEnterpriseB2B SaaS

Todd Graham

Managing Partner

CybersecurityDevtoolsEnterprise

Recent investments

CompanyRoundSizeDate
Reach SecurityStrategic$10m2025-07-29
Solve IntelligenceSeries A$12m2025-04-10
NeuBirdSeed Extension$23m2024-12-11
EderaSeries A$15m2025-01-01
NeonSeries B$26m2024-08-07
PsiQuantumSeries D——
At-BaySeries D——
Inworld AISeries A$50m2022-08-23
d-MatrixSeries B——
Aqua SecuritySeries E——

Frequent co-investors

Fit check

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