VC firm
Cleo Capital
Also known as Cleo Capital Fund I, LP, Cleo Capital Fund II, LP, Cleo Opportunity Fund, LP
- Investor type
- VC
- Investing status
- Activeas of 2026-09-18Source (opens in a new tab)
- Headquarters
- SAN FRANCISCO, CA, United States
- Founded
- 2018
- Assets under management
- $23.3MForm ADV private fund GAV, as of 2026-06-17Source (opens in a new tab)
- Latest fund size
- $6.7MSEC amount sold, as of 2021-04-05Source (opens in a new tab)
- Funds
- 6
- Check size
- our check size usually ranges between $100K-1M.Source (opens in a new tab)
- Legal name
- CLEO CAPITAL MANAGEMENT COMPANY, LLC
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Record updated 29 September 2026
About
Cleo Capital is a generalist venture capital fund founded by general partner Sarah Kunst in 2018.
Investment approach
- Thesis
- We primarily invest in Delaware c corps building software companies with the potential to become multi billion dollar companies. We love backing founders at the earliest stages and our check size usually ranges between $100K-1M. Our three main thesis areas are future of income, complicated consumer and decentralized enterprise.Source (opens in a new tab)
- Eligibility
- We primarily invest in Delaware c corps building software companies with the potential to become multi billion dollar companies.
- Investing status notes
- We primarily invest in Delaware c corps building software companies with the potential to become multi billion dollar companies.
Funds
- Cleo Capital Fund II, LP
- $6.7MVintage 2020, Main fund, SEC amount sold
- Cleo Opportunity Fund, LP
- $5.9MVintage 2020, Main fund, SEC amount sold
- Cleo Capital Fund I, LP
- $1.7MVintage 2018, Main fund, SEC amount sold
- CLEO OPPORTUNITY FUND, LP
- Opportunity
- CLEO CAPITAL FUND I, LP
- Main fund
- CLEO CAPITAL FUND II, LP
- Main fund
SEC registration
- Registered adviser
- CLEO CAPITAL MANAGEMENT COMPANY, LLC
- CRD number
- 313128 (opens in a new tab)
- SEC file number
- 802-131962
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $23.3Mas of 2026-06-17
- Private funds reported
- 3
- SEC CIK
- 1750820, 1855059, 1878558
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