Initialized Capital is an early-stage venture capital firm founded in 2011 and headquartered in San Francisco, California. Established by Alexis Ohanian, Garry Tan, and Harjeet Taggar, the firm focuses on seed-stage investments, primarily in software startups. As of 2021, Initialized Capital has raised over $3.2 billion in assets under management and has invested in 23 portfolio companies that have since become unicorns, including Coinbase, Ro, Cruise Automation, Instacart, Flexport, Opendoor, Algolia, Goat Group, HackerNoon, Rippling, Truepill, and CoinTracker.

The firm's investment philosophy centers on supporting high-quality founders with innovative ideas, providing them with the necessary resources and guidance to scale their businesses. Initialized Capital has a history of significant fundraising, including raising $700 million in December 2021 to invest in startups. The firm's leadership has evolved over time, with Garry Tan stepping back to rejoin Y Combinator as CEO in August 2022, and Jen Wolf and Brett Gibson taking over leadership of the firm in his absence.

In December 2023, Initialized Capital expanded its team by hiring Jennifer Fleiss, co-founder of Rent the Runway, as a partner to focus on early-stage investments in sectors such as e-commerce, logistics, health tech, and artificial intelligence.