Alpaca VC

David Goldberg and Ryan Freedman serve as co-founders and general partners and are the primary investment decision-makers. The duo previously worked together at Corigin Ventures, the venture arm of a New York real estate family office, before launching Alpaca VC in 2018. The firm has not disclosed a broader investment committee structure.

Alpaca VC focuses on seed and pre-seed rounds, with initial check sizes generally between $500,000 and $2 million. The firm concentrates on first institutional capital into companies modernizing physical-world industries. Participation in later-stage rounds is occasional and not the core deployment model, per the firm's public statements.

The firm's sourcing model draws heavily on the real estate operating relationships its partners built during their years at Corigin Ventures. Alpaca VC's limited partner base includes real estate families and operators who surface deal flow through their own industry needs. The partnership also cultivates relationships with property owner networks that function as early adopters and distribution channels for portfolio companies.

Alpaca VC targets enterprise software and marketplace businesses applied to physical-world sectors. Confirmed areas of investment include property technology, construction technology, logistics and supply chain, commercial insurance, and hospitality infrastructure. The firm has publicly backed companies such as Lyric, Jones, and Saltbox.

Alpaca VC operates as an independent venture capital firm managing outside limited partner capital, not as a family office. However, its founding partners came from Corigin Ventures, the venture arm of a prominent New York real estate family, and that lineage shapes the firm's network and investment thesis. The firm raises discretionary funds from institutional investors and family offices.

Alpaca VC has not publicly articulated a formal co-investment policy. As a seed-stage fund writing relatively small initial checks, the firm typically syndicates rounds with other early-stage investors rather than leading large consortium-style co-investments. Its general partners have historically collaborated with other proptech-focused seed funds and generalist firms active in the physical-world digitization thesis, per public record.

Alpaca VC has not disclosed any affiliated philanthropic foundations, donor-advised fund programs, or impact investment carve-outs. The firm operates as a for-profit venture capital manager without a publicly stated philanthropic mandate.