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Supermoon Capital
Supermoon Capital is a San Francisco-based venture firm founded to build the future of sleep and sleep-adjacent markets.
Supermoon Capital
Supermoon Capital is a San Francisco-based venture firm founded to build the future of sleep and sleep-adjacent markets. Managing Partner Mike Masterson, a former medtech operator and life sciences investor, co-founded Nevro — the neuromodulation company that completed its IPO in 2014 — and previously served as a VP at Bay City Capital. The firm frames its mission around "biological sovereignty," arguing that advances in sensors, AI, applied materials, and biotechnologies are making sleep measurable and actionable for the first time. Supermoon partners with scientists, technologists, and creatives globally, deploying capital across consumer, healthcare, and enterprise verticals within the sleep ecosystem. The portfolio includes consumer-focused sleep-tech company Endel, FDA-cleared digital therapeutic Big Health, AI-powered sleep lab diagnostics platform EnsoData, circadian-rhythm analytics provider Arcascope, and Swiss biotech Mosanna Therapeutics targeting sleep apnea. The firm invests from seed through early stage, structuring both direct equity positions and board observer roles, and its portfolio spans the US and Europe. Research is central to the operating model — Supermoon publishes proprietary market maps analyzing 50 segments of the sleep economy and themes like the "medicalization of the consumer" and "backlash as the next market," fusing specialist domain expertise with a generalist risk architecture. The investment team is led by Masterson alongside partners listed only as Grayson and Pat on the firm's website. Three named advisors — Katrin Pucknat, INSEAD professor Claudia Zeisberger, and Kendra Leigh Perlitz — extend the firm's institutional reach across Europe and North America. Supermoon supplements direct investing with a curated network model and maintains a concept called "NightMarket," though no operational detail is publicly available. The firm has not disclosed total deployment figures or team size. What structurally separates Supermoon from a typical thematic health-tech fund is its publishing arm. The firm produces field-shaping research that defines investable subcategories before consensus forms — and uses that content to attract founders, rather than relying on conventional GP networks or broker-led deal flow. This research-lead-generation posture functionally makes Supermoon a specialist think tank with a deployment mandate attached, betting that intellectual primacy in a narrow domain will yield preferential access to the best early-stage opportunities.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Principals
Mike Masterson
Managing Partner
Grayson
Pat
Sector focus
Frequently asked questions
Who runs investment decisions at Supermoon Capital?
Mike Masterson, Managing Partner, leads investment decisions. Masterson co-founded Nevro, a neuromodulation company that went public in 2014, and previously served as a VP at Bay City Capital. The firm's website lists two additional partners — Grayson and Pat — but does not disclose their full names, titles, or decision-making authority.
Does Supermoon overlay a thesis on every portfolio company, or does it invest across the sleep market broadly?
Supermoon applies a structured thesis that breaks the sleep market into 50 distinct segments. The firm targets companies at the convergence of consumer, healthcare, and biotechnology, specifically those that align with its research themes — such as the "medicalization of the consumer" and the "unconscious frontier." It does not invest indiscriminately across the sleep economy.
Is Supermoon Capital structured as a venture firm or something closer to a family office?
Supermoon is structured as an asset manager — specifically a private equity firm executing a venture capital strategy. It is not a single-family office. It markets its strategy to scientists, technologists, and institutional partners through its research and content platform.
How does Supermoon source deals — through its network or its research?
Supermoon relies heavily on its proprietary research. The firm publishes detailed market maps and original analysis to attract founders building in sleep and circadian science. This content-led approach replaces a traditional broker-driven or GP-referral pipeline, functioning as a direct inbound channel from the scientific and technology communities.
What is the investment stage range for Supermoon?
Supermoon invests from seed through early stage. Its public portfolio spans companies that were backed at formation — such as Arcascope — and those that have reached later venture rounds and FDA clearance, like Big Health. The firm typically takes board observer or director roles.
Does Supermoon participate in direct deals exclusively, or also fund-of-funds commitments?
Supermoon makes direct equity investments into operating companies. There is no public evidence that it allocates to external funds or operates a fund-of-funds program. The firm's observer and director board roles confirm a direct, hands-on investment approach.
How is Supermoon positioning itself around regulation and consumer health claims?
Supermoon's research explicitly explores the collision zone between consumer wellness and regulated medical claims — what the firm calls the "medicalization of the consumer." It invests across FDA-cleared devices, digital therapeutics requiring regulatory oversight, and consumer products making softer wellness claims, suggesting a portfolio intentionally diversified across regulatory risk levels.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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