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OpenDoor Venture Capital
Ken Fried's OpenDoor Venture Capital targets pre-seed and seed tech startups from Los Angeles, chasing category creation over incremental improvement.
OpenDoor Venture Capital
OpenDoor is a Los Angeles based early-stage venture capital firm that seeks to invest in the next generation of innovative companies
General information
Firm type
Venture Capital
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Principals
Ken Fried
Founder
Sector focus
Frequently asked questions
Who makes investment decisions at OpenDoor Venture Capital?
Ken Fried, the founder, is the sole named investment decision-maker. The firm's website does not reference any other investment professionals or committee structure, suggesting a centralized, founder-led process consistent with its single-office, 2016-vintage launch.
What investment stages does OpenDoor Venture Capital target?
The firm focuses on pre-seed and seed rounds, typically involving valuations below $20 million, and targets an initial position of 1% to 5% of a company. It also states a willingness to invest in later-stage rounds and to follow on in subsequent financings for portfolio companies that perform.
How does OpenDoor source deals?
OpenDoor does not publicly detail its sourcing engine, but the founder's 30-year career at Goldman Sachs and top hedge funds implies a network-driven approach. The firm also maintains an open-submission channel via its website, inviting founders to email business plans directly to plan@opendoorvc.com.
What is OpenDoor's investment thesis?
The firm invests exclusively in companies it believes are creating new categories — what it calls 'different, not better.' This thesis, articulated by Ken Fried, holds that incremental improvements face insurmountable user-acquisition friction, while true innovation attracts capital, talent and customer mindshare more efficiently.
Which sectors does OpenDoor explicitly avoid?
The firm does not publish an explicit sector-exclusion list. However, the portfolio and stated focus center on artificial intelligence, machine vision, blockchain, Web3 and gaming, which implies a de facto avoidance of sectors like hard infrastructure, deep-tech hardware and traditional regulated industries.
Does OpenDoor participate in fund commitments or only direct deals?
All of OpenDoor's disclosed investment activity describes direct company investments. There is no mention of fund commitments, LP positions in other venture firms or a fund-of-funds strategy, consistent with its posture as an early-stage direct investor.
What is OpenDoor's known exit track record?
The firm's portfolio page lists several realized exits, including Harvest Platform (acquired by Acorns), InAuth (acquired by American Express), Quigo (acquired by AOL), Finjan (acquired by Fortress Investment Group) and Cornerstone OnDemand (IPO). These exits span both the pre-2016 personal investing era of Ken Fried and the post-2016 firm period.
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