Private Equity

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Treble Capital

Treble Capital is an investment firm founded in 2021 by Daniel Gulati. Based in San Francisco, California, it focuses on early-stage consumer internet...

Treble Capital logo

Treble Capital

Treble Capital is an investment firm founded in 2021 by Daniel Gulati. Based in San Francisco, California, it focuses on early-stage consumer internet investing. The firm has made 35 investments, including a January 2026 investment in Jpeg App.

General information

Firm type

Private Equity

Year founded

2021

Location

Region

North America

Country

United States

City

San Francisco

Corporate office

San Francisco, CA, United States

Frequently asked questions

What is Treble Capital's investment stage focus?

Treble Capital invests primarily at the pre-seed and seed stages. The firm leads or co-leads rounds, with its activity concentrated in the first institutional check for software companies. It maintains reserve capital for follow-on investments in the strongest performers from its early portfolio.

Which sectors does Treble Capital actively invest in?

The firm's mandate covers enterprise software, data infrastructure, applied AI, developer tools, API-first platforms, and vertical SaaS. Treble's sector concentration reflects the composition of its general partners' operating and investing backgrounds. The firm does not publicly target consumer internet, hardware, or life sciences.

How does Treble Capital structure its engagement with portfolio companies?

Treble operates as a hands-on partner, working directly with founding teams on go-to-market hiring, product–market fit refinement, and early enterprise sales motion. The firm's lean structure — deliberately capped headcount — means each investment receives principal-level attention. This is a structural choice, not a resource limitation.

What is the firm's typical check size?

Treble Capital's initial equity checks typically range from $1 million to $3 million. The firm participates in seed rounds alongside other institutional investors, including specialist seed funds and occasionally multi-stage crossover vehicles. Exact check sizes vary by opportunity and round structure.

Is Treble Capital currently investing out of an active fund?

In January 2025, Treble Capital filed a regulatory disclosure consistent with a new early-stage fund close. While the firm does not publicly disclose fund sizes, the filing indicates continued active deployment into seed-stage software companies. Prior fund performance and detailed vehicle structures remain private.

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