# Include Venture Partners Management

Include Venture Partners Management is a Venture Capital based in San Francisco, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** Greenwich, CT, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** includevp.com

## Regulatory record

- **CRD number:** 331965
- **SEC file number:** 802-130712
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/331965

## About

INCLUDE VENTURE PARTNERS MANAGEMENT, LLC is an exempt reporting adviser in San Francisco, CA. The firm advises clients on investment strategies. It is based in San Francisco.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- Cybersecurity
- Energy Transition & Renewables
- Mobility & Transportation
- Industrial Tech

## People

- Seth Unruh — Managing Partner
- Maren Winnick — Partner

## Questions

### Who runs investment decisions at Include Venture Partners?

Managing Partner Seth Unruh and Partner Maren Winnick jointly lead the firm's investment committee. Unruh brought institutional venture experience to the founding, while Winnick contributed operational expertise from prior roles inside scaled industrial and commercial companies. Allocations and follow-on decisions require consensus between the two partners, a structure designed to balance pure venture judgment with practitioner insight into how technology is actually procured and deployed by large operating companies.

### How does Include Venture Partners source proprietary deal flow?

Sourcing relies heavily on Maren Winnick's relationships within the executive ranks of industrial and commercial operating companies, giving the firm visibility into technologies being piloted or procured before those startups appear in generalist venture pipelines. Include supplements this with a narrower inbound channel from research universities with strong engineering programs in robotics, materials science, and energy systems. The firm does not operate a public scout network or content-marketing funnel.

### What investment stages does Include Venture Partners typically target?

Include targets early-stage companies, predominantly at Series A and B. The firm leads or co-leads rounds in this band and reserves meaningful allocation for follow-on investments in portfolio companies that demonstrate traction with industrial or commercial enterprise customers. Pre-seed and seed-stage checks appear only when the founding team has a verifiable commercial pilot with a named operating company.

### What is Include Venture Partners' known posture on co-investments alongside external GPs?

Include welcomes co-investment alongside other institutional venture firms, particularly in rounds where the syndicate benefits from one partner's domain expertise in a relevant industrial sector. The firm does not publicly disclose a closed co-investor club, but its willingness to co-lead with generalist funds signals an open syndication approach for the right board composition.

## Related profiles

- [Step Function Ventures](https://altss.com/profile/step-function-ventures-management-llc)
- [RCV Global](https://altss.com/profile/rcv-global-llc)

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Last updated: 2026-08-14T12:30:00.000Z

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