Underdog Labs

What they do

Underdog Labs is an early-stage (pre-seed) fund focused on helping entrepreneurs with piercing vision create and scale successful companies. The firm typically invests very early in belief-driven founders, often in fundraising rounds of $1 million or less and frequently before product or monetization. It prefers sectors where it understands the distribution channels, such as B2B software and consumer, and typically avoids businesses requiring hardware manufacturing or regulatory approvals. Its portfolio spans healthcare, AI, consumer, and B2B markets.

What they look for

Underdog Labs runs a pre-seed fund investing very early, often pre-product, in belief-driven founding teams raising $1 million or less. It focuses on sectors where it understands distribution, particularly B2B software and consumer, while generally avoiding hardware manufacturing and highly regulated businesses.

Stage

Pre-seed, Seed

Sectors

SaaS, Consumer, Healthcare, AI

Based

San Francisco, US