We invest in companies with identifiable customers and proprietary technology over the competition. IT, software, communications/wireless, and technology-heavy consumer spaces are our preferred markets. We don’t do biotech, or pure content, retail, or services plays that lack significant technology underpinnings.

Our bias is to invest early, what is typically called “Series A” and “seed” stages. This is where the value of our firm’s extensive operating experience is the greatest. We will lead, syndicate, or go solo, as the situation requires. One thing we do not do is say ‘call us when you get a lead.’ We are venture capitalists, not venture followers.

We view ourselves as enablers of great ideas. Entrepreneurs often think of Leapfrog as filling the void between ‘angels’ and the larger venture funds. Unlike angels, we have the capital to fund a company through its expansion. Unlike the larger firms, our business model does not require over-funding early stage companies to achieve our financial goals. Our typical initial investments range between $1M and $3M, with several times that amount reserved for future growth of the business.

We believe that process of choosing business partners and building great companies cannot be delegated. Therefore, when you work with Leapfrog Ventures, you work directly with the senior members of the firm. By design, we have no associates who are learning the venture business by practicing on your business.