# Formation

Formation is a Private Equity based in New York, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** www.formationvc.com
- **LinkedIn:** https://www.linkedin.com/company/ims-alger

## About

Formation is built around the Formation Stage, a time of discovery, growth, and conviction for founders. The firm caters to both fast acceleration and more gradual paths to crystallization, including 1:1 cultivation and cohorts. Formation leads pre-seed rounds and participates in seed rounds. These are framed as 10+ year journeys where real relationships are formed and talent begins its ascent.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- InsurTech

## Offices

- San Francisco, CA
- Miami, FL

## People

- Solly Garber — Co-Founder
- Leeor Mushin — Co-Founder

## Questions

### What does Formation mean by the 'Formation Stage'?

The firm defines the 'Formation Stage' as the period of discovery, growth, and conviction that precedes a company's institutional scaling. It argues this stage has been mispriced by VCs who treat pre-seed and seed checks as option bets. Formation's model is built around longer relationship arcs and concentrated underwriting during this window.

### What is Formation's known posture toward the 'spray-and-pray' model of seed investing?

Formation publicly criticizes the financialization of early-stage venture, calling out the practice of writing many small checks as a misaligned incentive structure. Its public manifesto describes this as treating founders like 'option bets' and positions Formation as a deliberate alternative.

### Which companies has Formation's team backed?

Through Solly Garber's prior firm Strada, the team wrote early checks into Headway, Assured, Nourish, Traba, and Krea. Formation's own portfolio companies are not publicly listed, and the firm has not disclosed a full portfolio page.

## Related profiles

- [Forma Capital](https://altss.com/profile/forma-capital)
- [Formation8](https://altss.com/profile/formation8)

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

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