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01 Advisors
01 Advisors was founded in 2018 by former Twitter CEO Dick Costolo and former Twitter COO Adam Bain.
01 Advisors
01 Advisors was founded in 2018 by former Twitter CEO Dick Costolo and former Twitter COO Adam Bain. The firm emerged directly from the founders' experience building one of the largest consumer-internet companies of the 2010s, and it reflects their network within the technology-operator community rather than a traditional family-office or pure financial-engine pedigree. Bain oversees the firm's day-to-day investment activities from San Francisco, while Costolo contributes from the East Coast. 01 Advisors concentrates its deployment in late-stage venture and growth-equity rounds, typically writing checks into enterprise software, fintech, and digital health companies that have product-market fit and need operational guidance to scale. The firm has led or co-led rounds in companies including Lolli, a Bitcoin rewards platform; Project N95, the nonprofit marketplace for PPE; and the drone-delivery company Zipline. Geographically the portfolio tilts heavily toward US-headquartered companies, with selective exposure to globally scaling businesses operating in Africa and other emerging logistics markets, as illustrated by Zipline. The firm has raised multiple funds but does not publicly disclose total assets under management. In early 2022, 01 Advisors closed its second fund with $395 million in commitments, according to SEC filings and media reports, bringing estimated total capital raised to roughly $550 million. This early-2022 fundraising occurred just as a broader venture pullback began, and the firm's subsequent deal cadence has been more measured. The partnership maintains offices in San Francisco, Beverly Hills, Palo Alto, Chapel Hill, and Owings Mills, though the investment team is concentrated on the coasts. Where many growth-stage firms hire former bankers or career investors, 01 Advisors is structurally distinguished by its operator-heavy partnership. Costolo and Bain — each with deep P&L ownership and public-company governance experience at Twitter — position the firm as a bridge between late-stage venture and the operational rigors of public-market readiness. This model relies heavily on access to founder networks, informal deal-sharing among former Twitter and Google executives, and the reputational halo of having steered a company through a high-profile IPO.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Additional offices
Beverly Hills, CA · Chapel Hill, NC · Palo Alto, CA · Owings Mills, MD
Principals
Dick Costolo
Managing Partner & Co-Founder
Adam Bain
Managing Partner & Co-Founder
Sector focus
Frequently asked questions
Who runs investment decisions at 01 Advisors?
Adam Bain leads the firm's investment team and day-to-day decision-making from San Francisco. Dick Costolo remains involved in sourcing and advising portfolio companies but operates from the East Coast. The partnership does not maintain a formal investment committee beyond the two founders; deal approvals require consensus between Costolo and Bain.
How does 01 Advisors source proprietary deal flow?
Deal flow at 01 Advisors is primarily generated through the founders' personal networks among technology operators, founders, and fellow investors, many of whom worked with Costolo and Bain at Twitter, Google, or portfolio companies. The firm does not appear to operate a systematic outbound origination program and instead relies on inbound referrals and the co-investor relationships built during Costolo and Bain's decade in Silicon Valley leadership roles.
Is 01 Advisors structured as a family office or a venture firm?
01 Advisors is structured as a traditional venture capital firm that raises funds from outside limited partners, not as a single-family office. Costolo and Bain are likely among the largest personal investors in the firm's funds, but the partnership actively markets to institutional LPs. The firm's SEC filings and fund structure confirm registered investment-adviser status.
Does 01 Advisors participate in fund commitments or only direct deals?
01 Advisors exclusively makes direct investments in technology companies, typically leading or co-leading growth-stage and late-stage venture rounds. The firm does not operate a fund-of-funds program and has not publicly disclosed any limited-partner commitments into external venture capital or private equity funds as part of its investment strategy.
What investment stages does 01 Advisors typically target?
The firm targets Series B through late-stage venture rounds, with a stated focus on companies that have achieved product-market fit and require operational scaling support. Check sizes have ranged from roughly $10 million to $50 million per deal based on publicly reported rounds, with flexibility to lead or co-lead depending on the syndicate. Early-stage seed investing is not a material component of the strategy.
Which sectors does 01 Advisors explicitly avoid?
01 Advisors has not publicly disclosed a sector-exclusion policy. However, the firm's known portfolio does not include biotechnology, hard-science ventures, or capital-intensive industrial businesses — the observable pattern is concentrated in enterprise software, financial technology, and digitally native consumer platforms where C-suite operating experience is a direct value-add.
How is 01 Advisors related to Costolo and Bain's Twitter tenure?
The firm is distinct from Twitter Inc. and has no formal relationship with the company. Costolo and Bain's operating history is the foundation of their advisory value proposition, and several portfolio-company founders have cited that experience as a reason for selecting 01 Advisors as an investor. No Twitter corporate affiliation, preferred access, or exclusive deal-flow arrangement exists between the two entities.
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