Venture Note: Jeff Clavier, Profile of a Seed-Stage Venture Capitalist
Background and Career
Uncork Capital (formerly SoftTech VC) is a leading seed-stage venture capital firm founded by Jeff Clavier in 2004. Headquartered at 578 University Avenue, Palo Alto, CA 94301, with a presence in San Francisco as well, Uncork Capital has established itself as one of the pioneering micro-VC firms in Silicon Valley.
The firm currently manages over $900 million in assets across multiple funds, including a $200 million Seed fund (Uncork VII) and a $200 million Opportunity fund (Uncork Plus III) earmarked for larger investments in more mature portfolio companies. Over its nearly two-decade history, Uncork Capital has invested in more than 250 early-stage technology startups, many of which have achieved significant exits or public listings.
Uncork Capital's investment strategy focuses on providing active support and capital for companies in their first 18 months of life. The firm typically targets investments in software applications, APIs, developer tools, infrastructure, consumer internet, marketplaces, and frontier technologies. Their approach emphasizes hands-on involvement, with Uncork often being the first institutional investor and maintaining long-term relationships with founding teams throughout their growth journey.
The firm's success stories include investments in companies such as Fitbit (acquired by Google), Eventbrite (NYSE: EB), SendGrid (acquired by Twilio), and Postmates (acquired by Uber). Under Clavier's leadership, Uncork Capital has built a reputation for identifying promising technology startups at the seed stage and helping them navigate the challenges of early-stage company building.
Before establishing himself as a venture capitalist, Clavier began his career as a CTO for a fintech startup in France and holds an MS in Computer Science from Université Paris Descartes. He gained significant recognition in the venture capital world through his investments in companies like Fitbit, Eventbrite, SendGrid, and Postmates, which achieved successful exits or public listings. Known for his hands-on approach to supporting founders during their first 18 months, Clavier typically invests between $500,000 and $2 million per venture, aiming to own 7-10% of each company. An early adopter of blogging and social media among VCs, Clavier used these platforms to identify emerging trends and connect with innovative founders, helping him build an extensive network of co-investors that includes prominent firms like First Round Capital and Andreessen Horowitz. Beyond his investment activities, Clavier is an avid wine collector, skier, and father of two who has successfully transitioned his one-person investment operation into a multi-generational firm managing over $900 million in assets.
Email Addresses:
jeff@softtechvc.com (likely outdated since the firm rebranded to Uncork Capital)
Phone Numbers:
650-804-0299
+1-650-688-1801
Investment History and Approach
Clavier has been actively investing for more than 20 years, with his formal venture career beginning in 2004 when he founded SoftTech VC (rebranded as Uncork Capital in 2017). What started as a small operation with Clavier primarily using his personal savings to write $100,000 checks to founders has evolved into a significant venture firm managing over $900 million across multiple funds. Uncork Capital is currently investing from two funds: a $200M Seed fund (Uncork VII) and a $200M Opportunity fund for larger investments in mature portfolio companies. His investment approach focuses on providing hands-on support during the critical early stages, often being the first significant check and maintaining the longest relationship with founding teams. Clavier's investment philosophy emphasizes identifying strong founders and supporting them actively through the challenging initial phases of company building.
Jeff Clavier's Notable Quotations by Theme
Investment Philosophy
"Our job is to sift through a funnel of 2,000 to 3,000 opportunities per year, invest in 15, help them staff up, launch their product, and build their sales and marketing engine to successfully raise a Series A."
"When you get into investing, your default stance should be 'No,' because most deals aren't a fit."
"I would go for ownership and do seed, and pro rata in Series A and B."
"I was involved in a company where Bill Gurley is an investor and the company was thinking about hiring a CFO, and Bill opens up his folder, and he's got six CFOs, ready to go."
"Being cheap now means so much more freedom and choices later."
Founder Relationships
"Startup investing is one of my things, but it is not my everything."
"When I invested Fund II, I would go for ownership and do seed, and pro rata in Series A and B. The challenge is that it takes a long time."
"The touchpoint overlaps between investing and trying to shape the future of the world."
"Just don't spend your money, and you're well on your way to becoming a millionaire."
Decision-Making Criteria
"There are three kinds of 'asses' to consider: Smart-ass (is this a smart founding team?), Kick-ass (are they determined to succeed?), and a Great ass (is this a great market to be in?)." [Often referred to as Clavier's "Rule of Three Asses"]
"If you show me a slide as an early-stage company that mentions your exit opportunities and in 3 years you'll sell to Google for that return to me, I'll just laugh at you."
Market Analysis
"For VCs, the game right now is musical chairs."
"I invest in the early pioneers of Consumer Internet."
"There are too many people crowded into the seed investing niche."
"The market has changed drastically since I started investing."
On Risk and Perseverance
"Angel funding, seed investing and generally focusing on earlier stage investing is a huge business in the world of startups these days — it helps investors get in early to the most promising companies."
"I believe in the hard-won wisdom of always be raising."
"At the age of 25, I found myself in debt for a little over $2 million. Learning to come back from that taught me a lot about risk and resilience."
Building Firms and Funds
"When I got started 17 years ago, I was lucky to get the advice and support of [mentors]."
"One of the biggest challenges when transitioning from angel investing to running a fund is learning to be a fiduciary of other people's money."
"Ten years ago, I was on stage at TechCrunch 40 in San Francisco to officially announce SoftTech VC II, one of the first institutional seed funds in the market."
These quotations reflect Jeff Clavier's perspectives on venture capital investing, founder relationships, decision-making criteria, market dynamics, risk management, and fund building, drawn from various interviews, blog posts, and speaking engagements throughout his career at Uncork Capital.
Investment Themes and Portfolio Companies
Consumer Internet and Applications
Clavier was an early investor in consumer internet applications, particularly social media platforms and consumer-facing technologies. Notable investments include Eventbrite (event management platform), Fitbit (wearable fitness devices, acquired by Google), and Sendgrid (email delivery platform, acquired by Twilio).
E-commerce and Marketplaces
Clavier has invested in multiple marketplace businesses that connect buyers and sellers across various domains. Investments include Postmates (delivery service, acquired by Uber) and Vungle (mobile advertising marketplace).
Enterprise Software and SaaS
Enterprise software has been a significant focus for Clavier, particularly cloud-based solutions and SaaS business models. His portfolio includes numerous B2B software companies that streamline operations for businesses of various sizes.
Developer Tools and Infrastructure
Recognizing the importance of tools that help developers build better software, Clavier has invested in companies that provide infrastructure, APIs, and development tools. Investments include Bitly (link management platform) and other cloud infrastructure services.
Frontier Technologies
More recently, Uncork Capital has invested in cutting-edge technologies including artificial intelligence, machine learning, and advanced hardware. This represents Clavier's adaptability and willingness to evolve his investment thesis as technology landscapes change.
Most Successful Investments
Clavier's most successful investments have included several companies that achieved significant exits or public listings:
Fitbit: A wearable fitness device company that went public in 2015 and was later acquired by Google for $2.1 billion.
Eventbrite: An event management and ticketing platform that went public in 2018.
SendGrid: An email delivery platform that went public and was later acquired by Twilio for $3 billion.
Postmates: A delivery service acquired by Uber for $2.65 billion in 2020.
These investments demonstrate Clavier's ability to identify promising early-stage companies with significant growth potential across diverse sectors, from hardware to software to marketplace businesses.
Jeff Clavier's Co-Investment Community
Throughout his career as a pioneering seed investor, Jeff Clavier has cultivated a powerful network of co-investors who have participated in his most successful deals. His early success attracted collaborations with prominent venture capitalists including Josh Kopelman of First Round Capital and Aydin Senkut of Felicis Ventures, both of whom have become regular co-investment partners across multiple deals. For his breakout successes like Fitbit, Eventbrite, and SendGrid, Clavier often partnered with larger firms that provided follow-on capital as these companies scaled, including Andreessen Horowitz, which participated in several of his portfolio companies' later funding rounds. His relationship with Ron Conway, another legendary angel investor, has yielded multiple successful co-investments, reinforcing the value of their complementary networks and expertise. Other notable co-investors in Clavier's successful exits include prominent angels and seed funds like SV Angel, 500 Startups, and institutional investors who joined in later rounds such as Benchmark and Sequoia Capital. This co-investment network has been crucial to Clavier's success, not only providing complementary capital but also creating a powerful ecosystem that helps his portfolio companies secure the resources, connections, and expertise needed to scale from early-stage startups to significant exits.
Ideal Candidates for Funding
Entrepreneurs who should approach Clavier for funding are typically early-stage founders building innovative technology companies with initial traction. Clavier has expressed preference for startups that have already developed their product, business model, and launch strategy. His focus remains on companies in their first 18 months of life that can benefit from his hands-on approach and extensive network. Founders who demonstrate strong technical capabilities combined with business acumen align well with his investment criteria. Companies should be prepared to show how they're addressing meaningful market opportunities with innovative solutions in areas such as enterprise software, consumer applications, APIs, developer tools, or frontier technologies. Given his investment in approximately 15 companies per year from a funnel of 2,000-3,000 opportunities, founders need to demonstrate clear differentiation and compelling growth potential.