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August Capital
David Marquardt and John Johnston's August Capital has committed roughly $2B to concentrated early-stage IT bets like Splunk and Atheros since 1995.
August Capital
August Capital is a venture capital firm that has funded entrepreneurs building significant value in information technologies since its inception. The firm's investment professionals, including David Hornik, Vivek Mehra, Howard Hartenbaum, Eric Carlborg, Tripp Jones, David Marquardt, and John Johnston, have over a century of combined experience in venture and operational investing. They manage $2.5 billion in committed capital and have invested in companies across the Information Technology spectrum, including enterprise software and services.
General information
Firm type
Private Equity
Year founded
1995
AUM
$2 billion (per the firm)
Location
Region
North America
Country
United States
City
Palo Alto
Corporate office
Palo Alto, CA, United States
Principals
David Marquardt
Founding Partner
John Johnston
Founding Partner
Eric Carlborg
General Partner
Howard Hartenbaum
General Partner
David Hornik
General Partner
Buddy Arnheim
Investment Partner
Vivek Mehra
Partner Emeritus
Abby Hipps
General Counsel
Sector focus
Frequently asked questions
Who runs investment decisions at August Capital?
Investment decisions are made by the general partnership. The current general partners are Eric Carlborg, Howard Hartenbaum, and David Hornik, alongside founding partners David Marquardt and John Johnston. The firm operates with a concentrated group of investment professionals rather than a large partnership.
Is August Capital structured as a traditional venture firm or does it use a different model?
August Capital operates as a traditional venture capital firm sponsoring multiple fund vintages since its founding in 1995. However, it differentiates itself by deliberately investing in fewer companies than most venture firms, a strategy designed to allow partners to offer deeper operational support to each portfolio company.
Does August Capital participate in fund commitments or only direct deals?
August Capital makes direct investments in companies. Its own limited-partner base includes endowments, private foundations, fund of funds, public charitable organizations, and corporate strategic investors — not the reverse. There is no public indication August Capital itself acts as a limited partner in other venture funds.
What investment stages does August Capital target?
The firm primarily targets early-stage investments but also makes opportunistic later-stage investments. The unifying filter is that all investments must present what August Capital considers a venture capital-level risk and return profile, regardless of stage.
How is August Capital's limited-partner base composed?
According to the firm, its limited partners include a diverse group of endowments, private foundations, fund of funds, public charitable organizations, and corporate strategic investors. August Capital states it makes it a priority to understand each limited partner's mission and how the returns support their long-term investment goals.
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