News Summary

Caffeinated Capital, a San Francisco-based venture firm founded by Raymond Tonsing, is in the process of raising its fifth fund, targeting $400 million. According to a regulatory filing, the firm has already secured $160 million. This fund, if successful, will be the largest in the firm’s 15-year history. Caffeinated Capital was an early investor in companies like Airtable and Saronic and has seen notable exits such as the A/B testing startup Optimizely. Tonsing was joined by Varun Gupta as a general partner in 2020, expanding the leadership team.