Seed & Series A · Since 2009

We back the unreasonable people early, and stay long.

Lantern is a conviction fund for technical founders building durable companies. We write the first check, take a board seat, and answer the phone at 11pm.

The fund

Patient capital, by the numbers.

$1.4BUnder managementAcross four funds
120+Companies backedSince 2009
$1–6MFirst-check size
9 in 10Rounds we led or co-led

A few of the companies we were early on

FerrymarkDuskwaveGrovewellSaltmarshKelvinworksMarrowboneTidewritFoldharbor
After the wire

The help that actually helps.

We're a small team on purpose, so the partner you pitch is the partner you get.

Recruiting

Our network fills your first ten hard hires — eng leaders, GTM, finance.

Go-to-market

Intros to design partners and early customers who'll actually buy.

The next round

We line up the Series A before you need it, and tell you the truth about the deck.

Founder support

A real relationship for the lonely parts — not a quarterly check-in.

How we help

A first check, and a real partner.

We're small on purpose — so the partner who backs you is the one who answers the phone.

  1. 01

    We meet early

    Pre-deck is fine. We'd rather see the founder and the wedge than a polished raise.

  2. 02

    Conviction, then speed

    A clear yes or no in a week — and when it's yes, terms that don't waste your time.

  3. 03

    First check, board seat

    We lead or co-lead the first round and roll up our sleeves from day one.

  4. 04

    On call at 11pm

    Hiring, pricing, the hard board conversation — you get a partner, not a portfolio note.

The partners

Operators who've sat in your chair.

Eleanor Shaw

General Partner

Ex-founder, 2 exits · infra

Tomas Reinholt

General Partner

Ex-CPO · developer tools

Adaeze Okonkwo

Partner

Ex-VP GTM · vertical SaaS

Wen Hoffmann

Partner

Ex-CFO · fintech

Lantern led our seed when interbank settlement was the least fashionable thing in fintech. They filled our first three eng-leadership hires, sat through two brutal quarters, and followed on in every round since. I'd take their money again in a heartbeat.
BSBeatriz SalcedoFounder & CEO, Ferrymark
Before you pitch

The questions founders actually ask us.

How big is the first check, and do you lead?

$1M–$6M at seed, and we lead or co-lead nine times out of ten. If the round is already led and full, we'll still take a smaller position when the fit is right — but we're most useful when we're setting terms and sitting on the board.

How much ownership do you need?

We target 10–15% at entry and price to leave room for the next round. We won't ask for a bigger bite than the stage warrants, and we don't do option-pool games that quietly dilute you before the wire.

Do you follow on, or is the first check it?

We reserve roughly the same amount again per company for follow-on, and we've followed on in every round for our top-line names. A no on the next round is always a conversation, never a surprise in a data room.

How fast is a decision, and what do you need to make it?

A clear yes or no within a week. Pre-deck is fine — we'd rather see the founder, the wedge, and how you think than a 40-slide raise. If it's a no, you'll get the real reason, not a calendar-full brush-off.

What actually happens after the wire?

A board seat and a partner on call — hiring your first ten hard roles from our network, intros to design partners who'll buy, and the Series A lined up before you need it. The partner you pitch is the partner you get.

Building something?

Tell us what you're working on.

No warm intro required. A short note about the company beats a 40-slide deck.

Email
founders@lantern.capital
Visit
San Francisco · New York

Hours

  • StageSeed · Series A
  • First check$1M–$6M
  • ResponseWithin 3 days