Between the Coasts Ventures

Matt Marsh, the founder and managing partner, leads all investment decisions. Marsh brings an operator background to the role and built the firm's thesis around his experience working away from the major coastal venture hubs. The firm does not publicly list additional investment partners, and the investment committee structure has not been disclosed.

The firm explicitly excludes the San Francisco Bay Area, New York City, and Boston from its investment universe. It focuses on US technology hubs outside those three markets, including Utah, Colorado, the Southeast, and the Midwest. The firm treats geography as a primary sourcing filter, not a secondary consideration.

The firm focuses on Seed and Series A rounds, though it may selectively participate in follow-on rounds for existing portfolio companies. Its early-stage focus is designed to capture meaningful ownership at entry, often through lead or co-lead positions that include board representation.

The firm concentrates on enterprise software, fintech, digital health, and AI/ML companies. It favors capital-efficient business models that align with the lower-cost environments in which portfolio companies operate. The firm has not disclosed specific sector exclusions, but its portfolio composition reflects a strong preference for B2B over consumer technology.

The most notable publicly disclosed exit is Divvy, the Utah-based spend-management platform that was acquired by Bill.com for approximately $2.5 billion in 2021. Between the Coasts Ventures was an early investor in Divvy, and the outcome validated the firm's thesis that category-defining enterprise companies can be built and scaled outside the major coastal venture markets.

The firm operates a traditional venture fund structure, though the number of funds raised and their specific sizes have not been publicly disclosed. Its limited partners include institutional allocators, family offices, and technology executives. The firm has not reported using separate special-purpose vehicles as its primary investment mechanism.

Sourcing relies heavily on Matt Marsh's network of regional operators, founders, and co-investors across the firm's target geographies. The firm's concentrated geographic mandate creates a natural referral funnel, as founders in markets like Salt Lake City and Atlanta know that Between the Coasts Ventures will not pressure them to relocate to a coastal hub.