# Touring Capital

Touring Capital is a Private Equity based in Menlo Park, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Menlo Park, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2023
- **Assets under management:** Undisclosed
- **Website:** touringcapital.com
- **LinkedIn:** https://www.linkedin.com/company/touring-capital

## Regulatory record

- **CRD number:** 328058
- **SEC file number:** 802-128811
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/328058

## About

Touring Capital is an exempt reporting adviser in Menlo Park, CA. The firm advises clients on investment strategies from its Menlo Park headquarters. It is based in Menlo Park.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- Industrial Tech

## People

- Sam Bonderman — Co-Founder & General Partner
- Priya Saiprasad — Co-Founder & General Partner
- William Grannis — Co-Founder & General Partner

## Questions

### Who runs investment decisions at Touring Capital?

Investment decisions are made by the three co-founders and general partners: Sam Bonderman, Priya Saiprasad and William Grannis. All three worked together previously at M12, Microsoft's corporate venture fund, where they invested over $400 million across dozens of enterprise software companies. Touring operates as a flat partnership with no junior investment staff publicly identified.

### How does Touring Capital source proprietary deal flow?

The founding partners maintain deep networks from their time at M12, where they evaluated hundreds of AI-native enterprise startups annually as part of Microsoft's corporate venture strategy. That role gave them early visibility into companies building on major cloud and AI platforms. The firm does not operate a formal scout network or expert-in-residence program, relying instead on the partners' individual relationships across the US, European and Israeli technology ecosystems.

### What investment stages does Touring Capital typically target?

Touring targets growth-stage and late-stage enterprise software companies — Series B through pre-IPO — though the firm has the flexibility to invest earlier when an opportunity aligns with the partners' expertise. Their stated focus is on companies that have achieved clear product-market fit and are scaling revenue and international operations.

### How is Touring Capital related to Microsoft or M12?

Touring Capital is an independent firm and is not structurally related to Microsoft or M12. The three co-founders all previously worked at M12 but left in 2023 to build Touring as a standalone partnership. Microsoft is not an investor in Touring's debut fund, and the firm has no special rights to Microsoft distribution channels or acquisition processes.

## Related profiles

- [Touch Ventures](https://altss.com/profile/touch-ventures)
- [Touro Capital Partners](https://altss.com/profile/touro-capital-partners)

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

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