Indie.vc

Indie.vc

Indie.vc was founded in 2014 by Bryce Roberts, a former early-stage investor who grew disillusioned with the pressure for hyper-growth and liquidation preferences that defined traditional VC. The firm's structure reflects a thesis: most startups don't need to be unicorns to be successful, and founders should retain more upside. Indie.vc operates out of San Francisco but invests nationally, with a focus on companies that can achieve sustainable revenue growth without depending on endless fundraising rounds. The firm's investment strategy centers on early-stage deals, typically Series A or earlier, with check sizes ranging from $500,000 to $2 million. Indie.vc targets B2B software, fintech, digital health, and climate-tech companies. Key portfolio companies include the workflow automation platform Zapier, the corporate travel management platform TravelPerk, and the open-source mapping platform Mapbox (per public records). Geographically, the firm invests across the United States, with a significant concentration in the Bay Area and New York, and selectively in Europe. Indie.vc operates a lean team; the firm has not publicly disclosed total AUM or deployment numbers. The firm maintains no additional offices beyond its San Francisco headquarters. As of late 2024, Indie.vc continues to write new checks and support existing portfolio companies through its unique buyback structure, though no major fund-raise or portfolio event has been publicly reported in the last 24 months. What distinguishes Indie.vc is its investment structure: the firm uses a revenue-share or buyback model rather than traditional equity. Founders can repurchase Indie.vc's stake at a predetermined multiple of revenue after achieving positive unit economics. This aligns incentives around profitability, not exit, and reduces dilution for founders who build durable, cash-generating businesses — a structural differentiator from nearly every other early-stage fund.