# Fog City Capital

Fog City Capital is a Private Equity based in San Francisco, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2025
- **Assets under management:** Undisclosed
- **Website:** fogcitycapital.com
- **LinkedIn:** https://www.linkedin.com/company/fog-city-capital

## Regulatory record

- **Reports private funds:** No

## About

Fog City Capital is a venture capital firm that invests in early to mid-stage technology and services companies. It partners with management to grow software and services firms into industry leaders, combining experience founding and growing companies with executive leadership skills. The firm differentiates itself through its team's operating backgrounds and hands-on partnership with management to scale organizations and build shareholder value.

## Sectors

- Enterprise Software
- AI/ML
- Media & Entertainment

## People

- Ravi Bhaskaran — Partner
- Adit Abhyankar — Partner

## Questions

### Who runs investment decisions at Fog City Capital?

Ravi Bhaskaran and Adit Abhyankar serve as the firm's two partners and its primary decision-makers. Both have extensive operating backgrounds — Bhaskaran previously held board and operating roles across multiple portfolio companies, and Abhyankar had CEO and CFO stints inside Fog City-backed businesses. The partners source, diligence, and manage investments themselves, with support from a small group of senior advisors.

### How is Fog City Capital funded?

Fog City's primary co-investor is Senvest Capital, a publicly traded financial group listed on the Toronto Stock Exchange. The firm does not raise traditional limited-partner funds. Instead, it deploys capital alongside Senvest on a deal-by-deal basis, effectively operating with a permanent balance-sheet partner rather than a multi-LP fund structure.

### What is Fog City Capital's relationship with Senvest Capital?

Senvest Capital acts as Fog City's primary co-investor, per the firm's own disclosures. The public company provides the capital base for Fog City's deals, but investment decisions and day-to-day portfolio management sit with Fog City's San Francisco-based partners. This hybrid model blends a permanent capital source with independent venture-level decision-making.

### What check size and revenue stage does Fog City Capital target?

The firm targets equity investments between $5M and $20M in companies generating $2M to $30M in annual recurring revenue. This band covers early-stage startups through mid-stage growth companies, with a flexible mandate that allows for growth capital, recapitalizations, and management-buyout financing.

### Which sectors does Fog City Capital explicitly avoid?

Fog City does not publish an explicit exclusion list. However, its stated industry focus is narrow: internet marketing value chain, enterprise software and SaaS, applied AI tools and applications, and tech-enabled business services. Sectors outside these — such as biotech, hardware, or consumer packaged goods — are absent from any disclosed portfolio company or strategy document.

### What is Fog City Capital's geographic focus?

The firm invests primarily in North America and Europe. Its portfolio includes US-based companies such as FCTRY Lab (Los Angeles) and Visual IQ, alongside prior investments with European exposure — Adit Abhyankar operates between San Francisco and Madrid, and the firm highlights its ability to help companies access markets in Asia and Europe through its partners' networks.

## Related profiles

- [FOF Capital](https://altss.com/profile/fof-capital)
- [FOG Software Group](https://altss.com/profile/fog-software-group)

---

Last updated: 2026-08-11T15:06:49.768Z

Canonical page: https://altss.com/profile/fog-city-capital

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology