# Tola Capital

Tola Capital is an Asset Manager based in Seattle, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Seattle, United States
- **Region:** North America
- **Address:** Seattle, WA, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** tolacapital.com
- **LinkedIn:** https://www.linkedin.com/company/tola-capital

## Regulatory record

- **CRD number:** 173304
- **SEC file number:** 802-106586
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/173304

## About

Tola Capital is an exempt reporting adviser in Seattle, WA. It advises clients on investment strategies. The firm was founded in 2015.

## Sectors

- Enterprise Software
- AI/ML
- Cybersecurity
- Data Infrastructure
- Cloud Computing

## People

- Sheila Gulati — Founder and Managing Director
- Aaron Fleck — Managing Director

## Questions

### What is Sheila Gulati's background before launching Tola Capital?

Sheila Gulati spent over a decade at Microsoft, most recently as the general manager of worldwide developer and platform strategy. She was responsible for the developer ecosystem and tools business, a role that gave her broad visibility into the enterprise software landscape and the operator network that now informs Tola Capital's sourcing model.

### Does Tola Capital invest only in the United States?

Tola Capital invests primarily in North America and Europe. The firm's Seattle headquarters anchors its domestic portfolio, but its operator network extends across both continents, and it has backed European enterprise software companies where the go-to-market challenges mirror those in North America.

### How does Tola Capital source deals?

Tola Capital sources deal flow through its deep operator network — former and current senior executives from Microsoft, Amazon Web Services, Salesforce, and Oracle who serve as formal advisors and co-investors. These relationships give the firm early visibility into enterprise software companies emerging from hyperscaler ecosystems.

### What is Tola Capital's fund size, and when was its most recent close?

Tola Capital closed its third fund in 2022 at approximately $500 million, roughly double the size of its 2019 predecessor fund. The firm has not publicly disclosed a fourth fund close. Its AUM is not publicly stated.

## Related profiles

- [Tokyo University of Science Innovation Capital](https://altss.com/profile/tokyo-university-of-science-innovation-capital)
- [Toloka](https://altss.com/profile/toloka)

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Last updated: 2026-08-14T12:30:00.000Z

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