📌 Basic Information
The full name
is the name of the subsidiary of Chapter One Ventures, LLC
Chapter One Ventures is an independent limited liability company (LLC) with no publicly disclosed parent or subsidiary information. According to its official website and relevant data, Chapter One, as an early-stage venture capital fund, focuses on independent investment activities and does not mention owning or being affiliated with other holding entities.
Founded
Chapter One Ventures was founded in 2017.
Registered Country
United States
English Headquarters Address
Chapter One Ventures, LLC
Santa Monica, CA, United States The
specific street address is not disclosed on the official website or other public channels, and only mentions the headquarters in Santa Monica, California.
Business status
Active. As of December 2024, Chapter One has continued its investment activities, with recent investment cases including Ragie (August 2024) and Hyperbolic (July 2024), indicating that it is operating normally.
Background
Chapter One Ventures was founded by Jeff Morris Jr. in 2017 and is positioned as a product-oriented early-stage venture capital fund. The founder team is made up of veteran practitioners in product, data, and design, with experience as product leaders in internet companies such as Uber, Lyft, etc. The core philosophy of the fund is to support "product-driven" founders and invest in start-ups with excellent product design, huge market potential and long-term value. Chapter One emphasizes providing value-added services to portfolio companies through operational expertise, such as assistance with recruitment, product optimization, and strategic guidance. Its portfolio spans blockchain technology, consumer applications, artificial intelligence, and fintech, and has invested in 115 companies, including 12 unicorns (such as Mercury, Lyft, Ro).
Registered capital
As a private venture capital fund, Chapter One Ventures does not publicly disclose specific figures on its registered capital or fund size. According to PitchBook data, the fund it manages, "Chapter One, Page Two" (established in 2021), is an early-stage venture capital fund, but did not provide a specific amount.
Key Executive Backgrounds
Jeff Morris Jr. (Founder and Managing Partner).
Jeff Morris Jr. is the founder of Chapter One and has extensive experience in the technology industry. He previously served as the Revenue Product Lead for Tinder, leading product growth strategies and gaining product management and operations experience at various technology companies in Silicon Valley. His background gives Chapter One a unique perspective when evaluating product-driven startups.Other executives
According to CB Insights and Tracxn data, Chapter One's team includes eight partners, but their specific names and backgrounds have not been fully disclosed. Most of the team members are former product managers, data scientists or designers of technology companies with deep operational and industry insights.
Advisory Team
Chapter One does not publicly disclose information about its independent advisory team. Its official website mentioned that the fund relies on the operational experience of its internal team to provide strategic support to investee companies, and may supplement advisory resources through external networks (such as cooperation with other venture capital firms or industry experts).
Corporate Structure
Chapter One Ventures adopts a typical limited liability company (LLC) structure, and as a venture capital fund, its organizational structure is relatively flat. Led by the Managing Partner, in conjunction with the investment team and operational support staff. The team is small (about 12 people, including 8 partners), focusing on efficient decision-making and deep involvement in the operations of investee companies. According to LinkedIn information, Chapter One is also hiring for roles such as research analysts and content creators, indicating a professional division of labor in investment analysis and brand building.
Shareholding structure
As a private equity fund, Chapter One Ventures' shareholding structure is not publicly disclosed. Typically, the equity of a venture capital fund is jointly held by the managing partner, limited partner (LP, such as institutional investors or high-net-worth individuals) and the fund management company. Chapter One's LPs include high-profile investors such as Sequoia Capital and Marc Andreessen, but the specific shareholding is not disclosed.
Nature of a private
venture capital fund, registered as a limited liability company (LLC). According to PitchBook, Chapter One is a Registered Investment Adviser (RIA) with the U.S. Securities and Exchange Commission (SEC).
🏷️ Enterprise classification
Chapter One Ventures is a private equity and venture capital company, specifically an early-stage venture capital fund. Its investment focuses on seed and Series A stage startups, covering areas such as information technology, blockchain technology, consumer applications, and fintech.
📊 Market Classification
Chapter One Ventures mainly serves the global technology startup market, focusing on:
- High
Tech: Cutting-edge technologies such as artificial intelligence, blockchain, and Web3.
Enterprise Applications: such as productivity tools and developer platforms.
Consumer Products & Services: Social media, consumer brands.
Fintech: payments, digital banking, etc.
Its portfolio covers mainly US-based startups, and some projects have global market potential (such as the blockchain project Squid supports 60+ chains).
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🛠️ service
Chapter One Ventures' core services include:
Capital Investment: Funding seed and Series A startups, with typical investments in the millions of dollars (e.g., Ragie's $5.5 million seed round).
Operational support: Leverage the team's operational experience to assist investee companies in optimizing products, recruiting key talents (such as engineers, product managers), and formulating growth strategies.
Strategic guidance: Help founders clarify product-market fit, provide market entry and scale advice.
Network Resources: Introduce resources and potential partners to investee companies through partnerships with top investment institutions such as Sequoia and Andreessen Horowitz.
🏛️ Regulatory Information
Regulatory License No.
Chapter One Ventures is registered with the U.S. Securities and Exchange Commission (SEC) as a registered investment adviser (RIA) in the United States. According to PitchBook, its RIA status has been confirmed, but the specific registration number is not disclosed in public data. Typically, RIA registration information can be found through the SEC's Investment Adviser Public Disclosure (IAPD) database.
What agency is regulated
by the U.S. Securities and Exchange Commission (SEC)
Regulatory effective time The
specific regulatory effective date is not publicly disclosed, but as a fund established in 2017 and registered as an RIA, its regulatory status should be effective from the early stage of establishment or the first fund offering (approximately 2017-2018).
Compliance Requirements As
an RIA, Chapter One is required to comply with the SEC's Investment Advisers Act of 1940, including regular filing of Form ADVs, disclosure of investment strategies and potential conflicts of interest, and protection of client assets.
💹 trading product
As a venture capital fund, Chapter One Ventures' "trading products" are mainly equity investments, including:
Common or preferred shares: Invest in equity in start-ups, usually seed or Series A.
Convertible Notes: In some cases, convertible notes may be used as an investment vehicle.
SAFE Agreement: Simple Agreement for Future Equity, commonly used for early-stage investments.
Its investment targets are start-up equity in the private market and do not involve equity, bond or derivatives trading in the open market.
💻 trading software
Chapter One Ventures, as a venture capital fund, does not develop or use proprietary trading software. Its investment decisions primarily rely on due diligence, financial models, and market analysis from its internal team, possibly using the following general tools:
PitchBook: For portfolio management and market data analysis.
Crunchbase: Used for startup information screening.
Internal CRM system: Manage investee and investor relationships.
Portfolio companies (such as blockchain or fintech projects) may develop their own trading software, but this is not part of Chapter One's direct business.
💳 Deposit and withdrawal methods
As a venture capital fund, Chapter One Ventures does not provide deposit and withdrawal services directly to retail clients. Its capital flows are mainly through the following methods:
Limited Partner (LP) Contribution: LP injects capital into the fund through bank transfers or private fund subscription agreements.
Investment allocation: The fund allocates capital to investee companies, usually through wire transfers.
Exit return: Through the IPO, acquisition or secondary financing exit of the invested company, the funds are returned to the LP in the form of bank transfer.
Specific banks or payment channels are not publicly disclosed, which is in line with the privacy practices of private equity funds.
📞 Customer support
Chapter One Ventures' "clients" are mainly investees and limited partners (LPs), and their support methods include:
Portfolio company support: provide one-on-one operational guidance, monthly updates (detailing support measures), Recruitment assistance and strategic consulting.
LP Communication: Provide regular portfolio performance reports and fund progress updates to LPs, often via email or dedicated portals.
Contact information: The official website (https://chapterone.com/) provides a contact form, and LinkedIn and X (https://x.com/chapterone) are the interactive channels. Undisclosed phone or live chat support.
🚀 Core Business & Services
Chapter One Ventures' core business is early-stage venture capital, with a focus on supporting product-driven startups. Its service features include:
Investment fields: Focusing on information technology, blockchain, consumer applications, and fintech, the portfolio includes well-known companies such as Lyft, Mercury, and Squid.
Value-added services: Beyond traditional capital injections, Chapter One helps portfolio companies solve practical problems in product, market and team building through operational expertise. For example, it assisted an invested company in recruiting key engineers, significantly improving the team's capabilities.
Investment Strategy: Prioritize founders with strong product-market fit, emphasizing product design and user experience.
As of December 2024, Chapter One has invested in 115 businesses, with 12 reaching unicorn status, 14 being acquired, and 2 IPOs, indicating the diversity and success rate of its portfolio.
🖥️ Technical infrastructure
As a venture capital fund, Chapter One Ventures' technology infrastructure primarily supports its internal operations and investment decisions, including:
Data analysis platform: using PitchBook, Tools like Crunchbase analyze market trends and startup data.
Communication and collaboration tools: Slack, Zoom, or Microsoft Teams may be used for team collaboration and communication with portfolio companies.
Document Management System: Used to store investment agreements, due diligence reports, and LP reports, the specific system is not disclosed.
Chapter One does not develop a proprietary technology platform, but its portfolio companies, such as blockchain project Squid or AI platform Hyperbolic, may rely on advanced technology infrastructure, indirectly reflecting the fund's support for technology-driven start-ups.
⚖️ Compliance and risk control system
Compliance System
As an SEC-registered investment advisor, Chapter One Ventures is required to comply with the following compliance requirements:
Form ADV disclosure: Submission of fund strategy to the SEC, Fee structure and potential conflict of interest information.
Anti-Money Laundering (AML): Ensure that LP funds are sourced legally and comply with US AML regulations.
Client Asset Protection: Comply with SEC regulations regarding the safety of client funds.
Risk Management System
Investment Due Diligence: Mitigating investment risks through financial analysis, market assessment, and team background checks.
Diversified Investments: Covering multiple industries (such as blockchain, AI, fintech) and stages (seed round, Series A) to diversify risks.
Exit strategy: Exit through IPO, acquisition, or secondary financing to reduce liquidity risk.
The specific risk control process is not publicly disclosed, but its successful investment cases (such as 12 unicorns) show that its risk management is more effective.
🌟 Market positioning and competitive advantage
Market Positioning
Chapter One Ventures is positioned as a product-oriented early-stage venture capital fund focused on supporting startups with exceptional product design and market potential. Its target customers are seed and A round technology startups, especially founders who are interested in building the "next generation of iconic companies".
Competitive Advantage
Operational expertise: The team is composed of former technology company product leaders with deep operational experience and can provide tangible value-added services to investee companies.
Top LP Networks: Endorsement by Sequoia, Marc Andreessen, etc., enhancing its resource integration capabilities.
Focus on product-driven enterprises: Unique insight into product-market fit assessment, portfolio includes successful cases such as Lyft and Mercury.
Flexible investment strategy: Covers high-growth fields such as blockchain, AI, and consumer applications to adapt to market changes.
Chapter One is smaller than traditional venture capital firms (e.g., Kleiner Perkins, Andreessen Horowitz), but its focus on early-stage and product-oriented strategies makes it competitive in its market segment.
🤝 Customer support and empowerment
Chapter One Ventures empowers its "clients" (portfolio companies and LPs) by:
empowering portfolio companies
Recruitment Support: Assist in recruiting key roles such as engineers and product managers. For example, it helped an invested company recruit core engineers, significantly improving the strength of the team.
Product Optimization: Provide product design and user experience suggestions to help founders achieve product-market fit.
Strategic Guidance: Helps businesses develop growth plans through monthly updates and one-on-one consultations.
LP Empowerment
Provide transparent portfolio reports, regularly updating the progress and exits of invested companies.
Through cooperation with top investment institutions, it brings more investment opportunities to LPs.
Its customer support is centered on deep engagement and personalized service, distinguishing it from the passive investment model of traditional VCs.
🌍 Social Responsibility and ESG
Chapter One Ventures does not explicitly disclose a comprehensive ESG (environmental, social, governance) strategy, but its portfolio and public information reflect certain social responsibility practices:
Social: Indirectly contributes to social well-being by investing in startups in education, healthcare, and fintech (such as Mercury, which supports financial inclusion).
Governance: As an SEC-registered investment advisor, Chapter One adheres to strict compliance requirements, emphasizing transparency and ethical investment practices.
> Environment: There are no cases of direct investment in green technology or sustainable development, but the blockchain and AI projects it supports (e.g., Squid, Hyperbolic) may indirectly reduce energy consumption or improve efficiency through technological innovation.
Its official website and X account do not mention specific charitable activities or ESG reports, indicating that its social responsibility practices may be more rudimentary and more reflected in the positive impact of the investment portfolio.
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🤲 Strategic cooperation ecosystem
Chapter One Ventures has enhanced its market influence and resource integration capabilities by establishing strategic collaborations with the following entities:
top investment institutions: Partnered with Sequoia Capital, Marc Andreessen, Polychain Capital, etc. to participate in investment projects (such as Squid's $4 million financing).
Industry Network: Establish extensive connections with tech executives, founders, and other VCs through the team's Silicon Valley background to bring resources to investee companies.
Accelerators and Incubators: There is investment overlap with institutions such as Y Combinator (such as 3 Y Combinator projects have been invested by Chapter One), indicating their deep integration with the entrepreneurial ecosystem.
Its cooperation ecosystem is centered on Silicon Valley, radiating the global technology and blockchain fields.
💰 Financial health
As a private equity fund, Chapter One Ventures does not publicly disclose financial statements or specific earnings data. However, the following information can indirectly reflect its financial health:
Portfolio performance: Among the 115 invested companies, 12 are unicorns, 14 are acquired, and 2 are IPOs, indicating high investment return potential.
Active investment activity: 3 new investments (Ragie, Hyperbolic, Fiamma) in 2024, indicating that the fund has sufficient capital for new projects.
Top LP Support: The participation of well-known investors such as Sequoia and Marc Andreessen indicates strong fundraising capabilities.
There is no public information indicating that Chapter One is facing financial stress or liquidity issues, and its continued investment and exit record reflects a healthy financial position.
🛤️ Future roadmap
Chapter One Ventures has not disclosed a detailed future roadmap, but based on its investment activities and industry trends, the following development directions can be speculated:
Deeply involved in high-growth areas: continue to focus on blockchain, AI and fintech, In particular, it has increased investment in the fields of Web3 and decentralized technology.
Expand operational support: Enhance value-added service capabilities for invested companies by recruiting more research analysts and operational experts.
Global expansion: Although currently dominated by the US market, it may increase investment in Asia, Europe and other markets in the future, especially in the fields of blockchain and fintech.
Fund size growth: New funds may be launched (such as the third fund after "Chapter One, Page Two") to support more startups.
