Catalytic Capital for Founders Who Choose Hard Problems

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Satellite Startup K2 Space Raises $500 Million at $6.8 Billion Value

Founders that intentionally pick hard problems outperform. The founders we back don’t shrink in the face of a tough challenge, and it’s this courage that is the root of outperformance. Picking hard problems attracts exceptional early talent and the most ambitious capital partners, two critical inputs to any generational company.

"Northwood is so lucky to have Mike in its corner! He has a great intuiton for people and business and has been a critical sounding board every step of the way. He generously shares his network and his time and it makes the world of a difference to new founders. Plus he has hands down the best GIF in the game."

Bridgit Mendler, CEO & Co-founder of Northwood Space

"Also Capital was one of the first believers in Radiant and has been a steadfast supporter of our vision since day one. Beyond early belief in our team and mission, Mike introduced us to technical recruiting and PR firms in their network that helped us build out the team and tell our story in the early days."

Doug Bernauer, CEO & Co-founder of Radiant

"Mike has been a mentor to us through every challenge we have encountered - from recruiting and raising capital to getting in touch with the best in the industry. Working with Mike is not just like having another VC on the cap table, he's on the journey with you and somehow manages to do the same for all his portfolio companies."

Matej Cernosek, CEO & Co-founder of AndrenaM

"When I met Mike, I was working minimum wage at a community pool snackbar. If he can teach me how to build companies, he can teach you too!"

Will Bruey, CEO & Co-founder of Varda Space

Each fund backs roughly 15 core companies, typically at Inception, where the early decisions matter most.

We run concentrated funds by design. If we’re involved, it’s because we believe the company is worth sustained attention, not portfolio-level optionality. That constraint is how we ensure we can show up in a real way.

We invest early and lean in hardest to help:

Build your First Five
Make the first hard technical and commercial tradeoffs.
Raise top tier follow on capital

Inception

Varda Space

Series D

Inception

Radiant Nuclear

Series D

Inception

Northwood Space

Series B

Inception

Mesh Optical

Acquired

Inception

ShipIn Systems

Series A

Inception

Andrenam

Series A

Inception

4D Surgical

Seed

Inception

Observed Matter

Seed

Inception

River Technologies

Seed

Inception

Möbius Industries

Pre-Seed

Inception

Nexa Labs

Pre-Seed

Inception

Stealth

Seed

Inception

Stealth

Seed

Inception

Stealth

Seed

Inception

Stealth

Seed

Inception

Stealth

Pre-Seed

Inception

Stealth

Seed

Inception

Stealth

Pre-Seed

Inception

Inception

Pre-seed

Conductor

Series A

AnySignal

Series A

Vital Lyfe

Seed

Integral

Series A

Grounded

Seed

Higlo

Pre-Seed

Sea12

Series A

Stealth

Pre-Seed

Stealth

Pre-Seed

Stealth

Pre-Seed

Stealth

Pre-Seed

Pre-Seed

Seed

K2 Space

Series C

Fluidstack

Series A

Tandem

Seed

Biosphere

Seed

Float Health

Series A

a37

Seed

Nebex

Seed

Polyphron

Seed

Neion

Seed

Stealth

Seed

Seed

Investments

Our portfolio is united by a single theme: founders building systems that resist decay rather than amplify it. Serious people building serious companies. Since 2019 we’ve invested in over 30 companies that have collectively raised over $1.5B with an aggregate enterprise value north of $7B.

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Varda Space
In-space manufacturing platform producing high value materials in microgravity
Space
Radiant Nuclear
Mass-manufactured nuclear microreactors for reliable, off-grid power
Energy
K2 Space
High power satellite buses for super-heavy launch vehicles
Space
Northwood Space
Phased-array ground stations increasing satellite downlink capacity
Space
Mesh Optical
Low-power pluggable linear optical transceivers for next-generation data centers
Advanced Manufacturing
Fluidstack
On-demand supercomputing clusters powering frontier AI training and inference
AI
Conductor
AI copilots accelerating government procurement of critical technologies
AI
AnySignal
Software-defined radios for resilient, rapidly deployable RF systems
Space
ShipIn Systems
AI-powered computer vision for commercial maritime safety and compliance
AI
Vital Lyfe
Portable desalination systems for defense and disaster relief
Advanced Manufacturing
Integral
Automated healthcare data de-identification and compliance certification
Healthcare
Andrenam
Distributed acoustic sensing networks for maritime infrastructure defense
Defense
4D Surgical
MRI-guided robotic platform for surgery
Robotics
Observed Matter
Advanced X-ray inspection systems for high-stakes manufacturing
Advanced Manufacturing
Tandem
Neutral context layer capturing intent from hardware design decisions
AI
River Technologies
Services-led AI implementation platform for enterprise financial services
AI
Biosphere
Modular UV-sterilized bioreactors for continuous production
Scout
Float Health
Marketplace for in-home medical infusions and nurse staffing
Healthcare
Möbius Industries
Waste-to-resource conversion facilities for circular manufacturing
Robotics
Grounded
Modular electric van upfits for commercial and public sector fleets
Advanced Manufacturing
Higlo
Secure, family-safe communication interface for the TV
Scout
Sea12
Forward-deployed AI engineering for legacy industry automation
AI
a37
Autonomous infrastructure management for enterprise DevOps
Scout
Nexa Labs
Implantable livestock microchips for biometric monitoring and disease detection
AI
Nebex
Economic operating system for illiquid, sovereign in-kind space assets
Scout
Polyphron
AI-driven foundry producing high-fidelity 3D human tissue at industrial scale
Bio
Neion
Genetically engineered chicken eggs as low-cost bioreactors for biologic medicine
Bio
Stealth
Scalable robotic teleoperations data generation for real-world autonomy training
Robotics
Stealth
Ambient intelligence tool enabling smooth cross-platform agentic interactions
AI
Stealth
Mesh sensor networks for environmental crime detection
AI
Stealth
Vertically integrated atmospheric sensing and weather intelligence platform
Defense
Stealth
Commercialization layer for autonomy in the real economy
Robotics
Stealth
Oral biologics formulation platform for traditionally injectable therapies
Scout
Stealth
Global industrial knowledge graph for logistics scenario analysis
AI
Stealth
AI-powered mixed-reality console for intelligent tabletop gaming
Scout
Stealth
Stablecoin-based working capital rails for B2B trade finance
Scout
Stealth
Physical backbone for the manufacturing operating system
Advanced Manufacturing
Stealth
AI-native EPC (engineering, procurement, and construction) firm for the built world
AI
Stealth
Automated manufacturing for critical networking and electronics-heavy devices
Advanced Manufacturing

Team

Builders who know the cost of complexity

Mike Annunziata

Managing Partner

Mike Annunziata is the Founder & Managing Partner of Also Capital, an early-stage venture firm that invests in technically ambitious founders early, often before markets are well defined or consensus has formed.

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Mike

Brandes Woodall

Analyst

Brandes is an Analyst at Also Capital, where she supports early-stage investment diligence, firm operations, and portfolio companies. She joined Also Capital as a scout in the summer of 2025 and later became the firm’s first full-time investment hire.

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Brandes

Andrea Tumotod

Executive Assistant

Andrea is an Executive Assistant at Also Capital, serving as the operational backbone of the team and leading internal coordination across people, processes, and information.

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Andrea

Will Bruey

Venture Partner

Will is the CEO and Co-founder of Varda Space Industries, the first company commercializing in-space manufacturing for earth-sized markets and backed by Founders Fund, Lux Capital, Caffeinated Capital, Also Capital and more.

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Will

Colin Smith

Venture Partner

Colin is on the founding team at Vast, the leading private space station developer backed by Stellar and Ripple co-founder, Jed McCaleb.

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Colin

Jamie Cox

Venture Partner

Jamie Cox is the Co-Founder and Chief Strategy Officer of Fluidstack, one of the largest AI cloud platforms in the United States.

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Jamie

Daniela Perlein

Venture Partner

Daniela is the co-founder of goTenna, the mobile mesh networking leader acquired by ground autonomy unicorn Forterra.

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Daniela

Shaurya Luthra

Venture Partner

Cofounder & Head of Digital, Northwood Space

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Shaurya