San Joaquin Capital

Founding partners Tim Goetz and Dan Kelly anchor the firm. Goetz is the founder and former CEO of Aplos Software, while Kelly served as COO of the same company and teaches entrepreneurship. A third partner, an orthopedic surgeon and angel investor, is listed without a biographical narrative on the firm's website. The group's structure suggests a general-partner arrangement without delegated investment-committee staff.

The firm was created explicitly to fund Central Valley technology companies and to develop local entrepreneurial talent. Its sourcing advantage derives from geographic immersion in the Fresno metro area, where few institutional venture investors maintain a physical footprint. Both portfolio companies disclosed on its website — Aplos Software and Benchmark Intelligence — are Fresno-headquartered, indicating tight origination proximity.

The firm describes itself as a private equity manager targeting early-stage, seed, and growth rounds. It does not market family-office services or multi-family aggregation. Its founding originated from a single-company fundraising need, giving it the character of a principal-investment partnership rather than a traditional family office.

The firm has not publicly disclosed a fund structure, fee schedule, or limited-partner base. Its website lists only direct equity positions in portfolio companies. Until fund-level documentation appears, the available evidence points to balance-sheet or syndicated direct investing by the founding partners, rather than a fund-of-funds or pooled commitment program.

The firm targets early-stage, seed, and growth equity rounds, according to its own meta-description. Aplos Software represented a growth-stage Series A financing when San Joaquin Capital was originally established. Benchmark Intelligence, a customer-voice SaaS platform, sits closer to the early-stage and seed part of the continuum.

The firm does not publish a formal exclusion list. Its portfolio tilts entirely toward enterprise SaaS — nonprofit management and customer-analytics software — with no disclosed positions in hardware, biotech, or consumer goods. That pattern reflects a software-centric strategy tied to the Central Valley talent pool.

No external co-investor or LP is named on the firm's site. The investing entity behind San Joaquin Capital is not disclosed, making it impossible to confirm whether the founding partners syndicate rounds with institutional venture capital firms or rely entirely on their own capital and networks.