# Substack Inc.

Substack Inc. is a Venture Capital Firm based in San Francisco, United States.

## Overview

- **Organization type:** Venture Capital Firm
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** www.substack.com

## Regulatory record

- **Reports private funds:** No

## About

Substack is a media platform for video, writing, podcasts, and creator-centered communities, all powered by subscriptions.

## Sectors

- Media & Entertainment
- Enterprise Software
- FinTech

## People

- Chris Best — CEO & Co-Founder
- Hamish McKenzie — Co-Founder
- Jairaj Sethi — CTO & Co-Founder

## Questions

### Who leads Substack's investment decisions?

Chris Best, CEO and co-founder, leads the company's strategic direction. Investment decisions on the venture side are made by its institutional backers, such as Andreessen Horowitz and Y Combinator, rather than by Substack's internal team.

### How does Substack generate revenue?

Substack takes a 10% cut of subscription revenue from writers who use its platform. The company also processes payments via Stripe, handling fees for credit card transactions. In 2024, it began testing cryptocurrency payments via Bitcoin's Lightning Network.

### What investment stages does Substack target as a platform?

Substack does not make investments; it hosts writers at all stages of their careers, from newcomers to established journalists. The company provides tools for monetization but does not take equity in writers' businesses.

### Does Substack participate in direct deals or fund commitments?

No. Substack is an operating company, not an investment firm. It does not deploy capital into external funds or make direct equity investments.

### Which sectors does Substack explicitly avoid?

Substack has not publicly stated any sectors it avoids. However, as a platform, it enforces content guidelines that prohibit hate speech, spam, and illegal content across all categories.

### How is Substack related to its venture investors?

Substack's venture investors, such as Andreessen Horowitz and Y Combinator, hold equity in the company but have no operational control. The company remains independent and founder-led.

## Related profiles

- [One Mind Brain Health Impact Fund](https://altss.com/profile/one-mind-brain-health-impact-fund)
- [Paradox](https://altss.com/profile/paradox)

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Last updated: 2026-06-03T20:00:00.000Z

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