# Alpaca VC

Alpaca VC is a Seed-stage based in New York, United States.

## Overview

- **Organization type:** Seed-stage
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2018
- **Assets under management:** Under $100 million (Altss estimate)
- **Website:** alpaca.vc
- **LinkedIn:** https://www.linkedin.com/company/alpacavc

## Regulatory record

- **Reports private funds:** No

## About

Alpaca VC is a venture capital firm founded in 2012 in New York, New York. It invests in early-stage startups, focusing on tech-enabled companies and specializing in seed and series A investments. The firm has made 121 investments and 15 portfolio exits, with its latest exit being Prevu on November 25, 2025.

## Sectors

- AI/ML
- Energy Transition & Renewables
- Industrial Tech
- Logistics
- PropTech
- Real Estate

## People

- Aubrie Pagano — General Partner, Managing Member
- Ryan Freedman — Co-Founder, Executive Chairman
- Josh Jagota — Principal
- Ray Updyke — SVP, Finance, Operations
- Lorraine Sanders — Head of Content
- David Goldberg — Board Partner
- Daniel Fetner — General Partner

## Questions

### Who runs investment decisions at 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.

### What investment stages does Alpaca VC typically target?

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.

### How does Alpaca VC source proprietary deal flow?

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.

### Which sectors does Alpaca VC explicitly invest in?

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.

## Related profiles

- [Blue Ivy Ventures](https://altss.com/profile/blue-ivy-ventures)
- [Quantum Workplace](https://altss.com/profile/quantum-workplace)

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Last updated: 2026-07-06T00:30:45.370Z

Canonical page: https://altss.com/profile/alpaca-vc

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