BU

Bullpen Capital — Seed & Series A VC Firm ($2.0M–$5.0M Checks)

VC
San Francisco, California, United StatesWebsite

Bullpen Capital is a Seed, Series A venture capital firm based in San Francisco, California, United States investing in SaaS, Other. The firm typically writes $2.0M–$5.0M checks and has 11 portfolio companies in our records.

Check size
$2.0M–$5.0M
Portfolio
11 companies on record
Partners
4 listed
AUM
$737M
Stage
Seed, Series A
Sectors
SaaS, Other
HQ
San Francisco, California, United States

Last verified: 2026-09-18

How to approach: warm intro preferred
Stage

Seed, Series A

Check Size

$2.0M – $5.0M

AUM

$737M

Portfolio

11+ companies

Team

4 partners

Investor activity
Last known investment: 2024Investments in last 12 months: 0

Investment Thesis

Bullpen Capital invests post-seed in companies that have found early product-market fit but are overlooked for no good reason—those between seed and Series A that need capital, coaching, and time to reach a strong Series A.

How Bullpen Capital invests

Bullpen Capital is a vc firm based in San Francisco, California, United States. The firm invests at the Seed, Series A stages, with a focus on SaaS, Other.

Bullpen Capital typically writes checks of $2.0M–$5.0M per investment, backed by approximately $737M in assets under management.

Investing since at least 2011, Bullpen Capital has backed 11 companies in our records, including Switchyards, CAMP, Rei do Pitaco. Its most recent recorded investment was in 2024.

Partners & Team

DD

Duncan Davidson

Partner

PM

Paul Martino

Founder

EW

Eric Wiesen

Partner

B2B SaaS
AI/ML
SportsTech
RM

Richard Melmon

Partner

Enterprise
Apps & Services

Industry Focus

Invests In

SaaS
Other

Portfolio Companies (11)

2024

SW

Switchyards

Consumer·A

The world’s first neighborhood work club, creating places to do our best thinking and most productive work.

2023

CA

CAMP

Commerce·Consumer

Designed to inspire and engage families, combining play, media, and merchandise to create an enriching and fun experience for kids and grown-ups.

2021

RE

Rei do Pitaco

Gaming·Consumer

The first trustworthy Brazilian Daily Fantasy Sports mobile app, allowing fans in Brazil to compete in a single round, fantasy sports contests for all major football leagues.

CR

CruxOCM

Apps & Services·Enterprise

Delivers operations control management software to energy companies to help reduce the complexity and inefficiency of standard operations control rooms.

2020

BR

Brightside

Health·Consumer

Makes it simple and affordable to get expert, personalized treatment for depression and anxiety from the comfort of home.

2018

SW

Swish Analytics

Apps & Services·Enterprise

A sports analytics, betting and fantasy startup building the next generation of predictive sports analytics data products.

2012

IP

IPSY

Commerce·IPO

Founded on a singular mission: to inspire individuals around the world to express their unique beauty.

FA

FanDuel Group

Gaming·IPO

A world-class team of brands and products all built with one goal in mind — to give fans new and innovative ways to interact with their favourite games, sports, teams, and leagues.

2011

BR

Braze

Apps & Services·IPO

A comprehensive customer engagement platform that powers relevant and memorable experiences between consumers and the brands they love.

Other

SP

SpotHero

B2B SaaS
How to pitch Bullpen Capital
  • •Raising at Seed, Series A? You're squarely in their sweet spot.
  • •Lead with your fit in SaaS, Other — the sectors they actively back.
  • •Size your ask to their typical $2.0M – $5.0M check.
  • •warm intro preferred
  • •Address your outreach to a specific partner, such as Duncan Davidson, Partner.
  • •A warm introduction beats a cold email. Get matched and request an intro.

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