Confirmed by the firmCalifornia
Substance
Substance, based in California, backs Pre-Seed startups in deep tech, AI, cybersecurity, and enterprise software, leading rounds with checks from $25k to $500k.
Entry stagePre-seed
Check sizeUp to $500K
Leads roundsYes
FocusDefense and space, AI and data, Cybersecurity, Deep tech, Enterprise software, Industrial, Dev tools and infra, Proptech, Logistics and mobility, Vertical AI, Fintech, Healthtech
Latest fundn/a
Investing team1 peopleNo activity since Sep
Who you would pitch at Substance
1 person on the investing team, 1 of them partners who can make the call. Partners are listed first.
Work here and something is wrong? Ask for a correction.
Writes Up to $500K checks. Its smallest check is larger than 0% of firms in the atlas.
Bars: how many firms in the atlas report each band. Highlighted: this firm.No recent activity since September 2026. Quiet does not mean closed.
Weekly count of activity updates. Activity is not a confirmed deal.In their words
Substance — First Check Venture FundSubstance writes first checks to domain-expert operators. We back founders with earned insight, real problem obsession, and the conviction to build for the long term.substance.fund
Send Mode VC your deck
Raising a pre-seed or seed round? We write $1M to $5M first checks and help founders with distribution. A partner reads every deck.
Send your deckAlert me when Substance is active
One email when this firm shows new activity. Nothing else.
Firms like Substance
On these lists
Pre-seed dev tools and infra investors in California56Pre-seed deep tech investors in California52Pre-seed enterprise software investors in California50Pre-seed healthtech investors in California48Pre-seed fintech investors in California44Pre-seed industrial investors in California39Pre-seed cybersecurity investors in California19Pre-seed logistics and mobility investors in California18
Questions
What stage does Substance invest in?
Substance reports entry at pre-seed.
How much does Substance invest?
Substance reports checks of Up to $500K.
Does Substance lead rounds?
Yes. Substance says it can lead.
Who are the partners at Substance?
Soso Sazesh (Solo General Partner).
Is Substance active right now?
No recent activity since September 2026.
Work at Substance? Claim or correct this profile.