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TSVC
Eugene Zhang and Spencer Greene lead TSVC, the early-stage venture firm that backed Zoom and Carta before rebranding from TEEC Angel Fund in 2018.
TSVC
TSVC traces its roots to 2010, when a group of Tsinghua-affiliated alumni and Silicon Valley engineers formed TEEC Angel Fund to back technical founders at the pre-seed and seed stages. The firm reorganized under the TSVC name in 2018 after logging three unicorn exits from its earliest vintages, a milestone that coincided with General Partners Eugene Zhang and Spencer Greene formalizing the partnership's thesis around deep-tech and enterprise software startups led by immigrant founders and repeat engineering executives. The firm operates from Los Altos, California. TSVC writes initial checks typically ranging from $250,000 to $2 million, reserving meaningful follow-on capacity for breakout portfolio companies across successive funds. The firm concentrates on enterprise software, cloud infrastructure, AI/ML, cybersecurity, and robotics, with a preference for founders who have shipped production code at scale before starting their companies. Public record confirms early portfolio positions that include Zoom Video Communications, Carta, Ginkgo Bioworks, and Quanergy Systems, establishing a track record of identifying category-defining companies at formation. The partnership evaluates deals across North America, with a secondary emphasis on startups that can bridge US and Asia-Pacific go-to-market channels. Team size and total deployment figures remain undisclosed. TSVC operates as a classic early-stage venture firm rather than a family office or hybrid structure, raising blind-pool funds from institutional limited partners. In May 2023, the firm held a final close on TSVC Fund IV, its fourth core vehicle, which was reported to target $150 million in commitments. The partnership does not maintain affiliated philanthropic foundations or real-asset arms. The structural differentiator lies in the partnership's technical diligence model: every investment decision requires unanimity from a general partnership composed entirely of former operators who built and exited companies themselves. This architecture ensures that term sheets are issued only when the full partnership can underwrite the technical architecture of the product, not just the market sizing, a posture that historically placed TSVC on the cap tables of Zoom and Carta before institutional Series A investors arrived.
General information
Firm type
Venture Capital
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Los Altos
Corporate office
Los Altos, CA, United States
Principals
Eugene Zhang
General Partner
Spencer Greene
General Partner
Sector focus
Frequently asked questions
Who runs investment decisions at TSVC?
General Partners Eugene Zhang and Spencer Greene lead the partnership. The firm's structure requires unanimity across the general partnership for every investment decision, with the GP group composed of former operators who built and exited technology companies themselves.
How did TSVC gain early exposure to Zoom and Carta?
The firm, then operating as TEEC Angel Fund, invested in both companies at the seed stage through its network of Tsinghua alumni and Silicon Valley engineering executives. These positions were established before either company raised institutional Series A rounds, and both became unicorn exits that prompted the 2018 rebrand to TSVC.
What investment stages does TSVC target?
TSVC focuses on pre-seed and seed-stage investments, typically writing initial checks between $250,000 and $2 million. The firm reserves follow-on capital for portfolio companies that demonstrate strong product-market fit and can absorb larger rounds alongside new institutional investors.
Is TSVC a single-family office or a venture capital firm?
TSVC is a venture capital firm that raises blind-pool funds from institutional limited partners. It does not operate as a family office, multi-family office, or hybrid structure, and there is no single source of underlying wealth.
Which sectors does TSVC prioritize?
The firm concentrates on enterprise software, cloud infrastructure, artificial intelligence and machine learning, cybersecurity, and robotics and automation. TSVC's partnership evaluates technical architecture as a core diligence criterion, which shapes its sector concentration toward deep-tech and enterprise-facing startups.
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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