Foundation Capital

Foundation Capital is a venture firm that says it has backed founders from day zero for thirty years. It wrote the first term sheet for chipmaker Cerebras in 2016, and its homepage features founders including Lynn Jurich of Sunrun and Jonathan Siddharth of Turing.

In AI, the firm led Turing's $14 million seed round in 2020 and took part in the 2026 seed round for Dextr AI, a San Francisco, California, company that builds AI agents for hotels.

Sources: Foundation Capital

Leadership

• Ashu GargGeneral Partner
• Joanne ChenGeneral Partner
• Steve VassalloGeneral Partner

At a glance

Stage

Early stage

Focus

Enterprise, Fintech

AI companies backed

2

AI companies backed

• Dextr AI · connected AI agents for hotel reservations, guest messages and staff coordination

  Took part in Dextr AI's $6.7 million seed round, announced September 24, 2026, which Elevation Capital led.

  Read our review of Dextr AI · Source: Crunchbase News, checked Oct 9, 2026

• Turing · a talent network that matches remote engineers and AI specialists with companies

  Led Turing's $14 million seed round, announced August 2020.

  Read our review of Turing · Source: Turing announcement via PR Newswire, checked Oct 9, 2026