# TCP Venture Capital

TCP Venture Capital is a Venture Capital based in Owings Mills, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Owings Mills, United States
- **Region:** North America
- **Address:** Hampstead, United States
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** www.tcp.vc
- **LinkedIn:** https://www.linkedin.com/company/tcp-venture-capital

## Regulatory record

- **CRD number:** 172402
- **SEC file number:** 802-132619
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/172402

## About

TCP Venture Capital is a Baltimore, Maryland-based early-stage technology focused venture capital firm. It partners with entrepreneurs to build great businesses. The Propel Baltimore Fund makes investments in early-stage technology companies willing to locate in Baltimore.

## Sectors

- Enterprise Software
- Cybersecurity
- AI/ML

## People

- Stuart Sutley — Managing Partner

## Questions

### Who runs investment decisions at TCP Venture Capital?

Stuart Sutley, a former NSA vulnerability researcher, leads the firm as Managing Partner and is the primary decision-maker for all investments. His technical background in offensive security shapes the firm's signature due-diligence process, which requires hands-on code and infrastructure review before any commitment. The firm does not publicly list additional general partners or investment committee members.

### Is the firm's technical due diligence a standard 'tech DD' or something more adversarial?

TCP's process reflects Sutley's NSA background — it involves adversarial testing of production and pre-production environments, not a checklist review. Principals personally probe source code and attack surfaces. For startups targeting government or defense customers, this due diligence functions as both a filter and a pre-qualification for the procurement hurdles they will later face.

### Which sectors does TCP Venture Capital explicitly avoid?

TCP does not target consumer internet, marketplaces, or purely business-model innovations. The firm's investment thesis excludes companies where security posture is not a material differentiator. It also steers clear of life sciences and hard-tech categories outside its partners' operational expertise.

### Does TCP Venture Capital participate in fund commitments or only direct deals?

TCP invests directly in operating companies through seed and early-stage rounds. There is no public evidence that the firm acts as a limited partner in third-party venture funds or participates in fund-of-fund commitments.

## Related profiles

- [TCP Health Ventures](https://altss.com/profile/tcp-health-ventures)
- [TCV](https://altss.com/profile/tcv)

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Last updated: 2026-08-11T15:08:18.003Z

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