Joe Montana

Joe Montana, the iconic NFL Hall of Fame quarterback, has successfully transitioned his strategic prowess from the football field to the venture capital arena. In 2015, he co-founded Liquid 2 Ventures (L2V) alongside Mike Miller and Michael Ma, establishing a firm dedicated to early-stage technology investments. L2V's investment philosophy is primarily focused on seed and Series A rounds, aiming to identify and nurture promising startups from their nascent stages. The firm prides itself on being sector-agnostic, although it has developed a notable track record across diverse industries such as SaaS, Fintech, Artificial Intelligence, and various marketplace models.

Since its inception, Liquid 2 Ventures has demonstrated consistent growth in its capital base, reflecting investor confidence in its strategy and leadership. The firm successfully raised its first fund of $25 million in 2015, followed by a $40 million fund in 2018, and a $75 million fund in 2021. Most recently, L2V closed its fourth fund, Fund IV, at $100 million in 2023, bringing their total capital raised across all funds to an impressive $240 million. This substantial capital allows L2V to maintain an active investment pace, having backed over 230 companies to date, showcasing a high-volume approach to early-stage deal flow.

L2V's typical first check sizes for early-stage companies range from $500,000 to $2 million, aligning with their focus on providing crucial initial capital to burgeoning ventures. While they are open to various sectors, their portfolio highlights a keen eye for disruptive technologies and scalable business models. Notable investments within their portfolio include success stories like GitLab, a leading DevOps platform; Calm, a popular meditation and sleep app; and Notion, the widely used workspace software. Joe Montana's involvement extends beyond capital, as he leverages his extensive network and experience in high-performance environments to provide strategic guidance and mentorship to the founders L2V supports, solidifying his reputation as a significant player in the venture capital landscape.