# Zelda Ventures

Zelda Ventures is a Venture Capital based in Portola Valley, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Portola Valley, United States
- **Region:** North America
- **Address:** Portola Valley, CA, United States
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** zelda.vc
- **LinkedIn:** https://www.linkedin.com/company/zelda-ventures

## Regulatory record

- **CRD number:** 324291
- **SEC file number:** 802-130061
- **Registration status:** ACTIVE
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/324291

## About

Zelda Ventures backs in-network serial entrepreneurs at pre-seed. The firm harnesses insights from decades in entrepreneurial ecosystems and emphasizes trust and familiarity with founders. It takes pride in being the first choice for first checks, with portfolio companies across various sectors led by serial entrepreneurs.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- SpaceTech
- FinTech
- Robotics & Automation
- Mobility & Transportation
- Cybersecurity
- AgriTech & FoodTech
- Industrial Tech

## People

- Suzanne Fletcher — Founder and Managing Partner

## Questions

### Who runs investment decisions at Zelda Ventures?

Suzanne Fletcher is the Founder and Managing Partner and the sole investment decision-maker. Her prior experience includes managing the co-investment vehicle at StartX for five years, serving as a general partner at Prime Movers Lab, and starting her career in technology investment banking at Morgan Stanley. She holds an MBA from Stanford and a BS from the Wharton School.

### How does Zelda Ventures source its deal flow?

The firm's deal flow comes almost entirely from Fletcher's personal network, built over more than two decades in the Bay Area venture ecosystem. Her time at StartX — working with Stanford alumni, professors, and students — created a network of over 900 founders. The firm states that the majority of its portfolio-company founders had known Fletcher for years prior to her investment, making the network itself the primary origination channel.

### Is Zelda Ventures a fund or does it operate more like an angel syndicate?

Zelda Ventures presents itself as a private equity firm rather than a fund or syndicate, but publicly available information on its structure is thin. The firm does not disclose AUM, fund sizes, or limited partners. Its website focuses entirely on Fletcher's solo investment activity and network, with no mention of institutional fund vehicles or formal capital-raising rounds.

### What investment stages does Zelda Ventures target?

The firm focuses on pre-seed, specifically writing first checks into serial entrepreneurs. Fletcher's investment history includes lead investments, co-investments, and angel checks at the earliest stages, and Zelda Ventures itself describes 'backing in-network serial entrepreneurs at pre-seed' as its central thesis.

### Which sectors does Zelda Ventures explicitly avoid?

Zelda Ventures does not publish a list of excluded sectors. The firm's portfolio and network pages suggest active coverage in enterprise software, AI/ML, digital health, space technology, fintech, robotics, mobility, cybersecurity, and industrial technology. Sectors such as heavy industrials, life sciences outside digital health, or traditional consumer packaged goods do not appear in its published record.

## Related profiles

- [Zefyr Invest](https://altss.com/profile/zefyr-invest)
- [Zelkova Ventures](https://altss.com/profile/zelkova-ventures)

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Last updated: 2026-08-11T15:08:42.881Z

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