2468 Ventures

2468 Ventures Research Firm Overview 2468 Ventures is a global AI investment and advisory firm founded in 2021 by Pankaj Kedia and headquartered in San Diego, California. The firm's distinctive name encodes its core investment thesis: backing companies across the full technology stack of Silicon (2), Systems (4), Software (6), and Services (8) — the "2-4-6-8" framework. The firm operates as a solo GP operation with Pankaj Kedia serving as Founder and Managing Partner. Investment Thesis 2468 Ventures articulates a highly focused thesis: investing in AI and Deep Tech startups at the intersection of four primary verticals: IndustryTech : AI/Deep Tech applied to IoT and industrial applications HealthTech : AI/Deep Tech combined with Health, Wellness, Sports, and Medical ConsumerTech : AI/Deep Tech applied to consumer experiences FinTech : AI/Deep Tech in financial services The firm specifically seeks founders who exhibit a "#NeverGiveUp" attitude and prioritizes three investment criteria: Team, TAM (Total Addressable Market), and Technology. The overarching ambition is to back 100x disruptors capable of upending large incumbents. Stage Focus 2468 Ventures is an early-stage investor focused on: Pre-Seed : Entry at earliest concept and team formation Seed : Primary stage — startups with working product and early customer traction Series A : Selective follow-on for portfolio companies Given the 160+ startup portfolio and the profile of marquee names like Anthropic, OpenAI, and CoreWeave, many investments appear to have been made at the very earliest rounds before these companies reached their current valuations. Check Size Check sizes are not publicly disclosed by the firm. Based on portfolio profile analysis and Pankaj Kedia's background as both an angel investor and institutional LP/GP, checks are likely in the $25K–$500K range for direct investments at Pre-Seed/Seed, with larger syndicate participation at higher amounts. The firm also serves as LP in 20+ VC funds. Lead Tendency 2468 Ventures operates primarily as a participatory co-investor rather than a traditional round lead. Given the breadth of the portfolio (160+ companies) and the solo GP model, the firm participates in rounds alongside other institutional investors rather than anchoring deals. Recent Activity and Portfolio Exits The firm has achieved 16 exits over 16 consecutive quarters (2021–2025), demonstrating exceptionally strong exit velocity. Notable recent exits include: 2025 Exits: CoreWeave — IPO on Nasdaq (March 2025); GPU cloud infrastructure company Touchcast — Acquired by Infinite Reality (April 2025); AI/XR platform Humane — Acquired by HP (February 2025); AI wearable hardware Vessel Health — Acquired by Fluid Mechanics (February 2025); at-home health testing Accern — Acquired by Wand AI (January 2025); financial NLP AI Truework — Acquired by Checkr (April 2025); income verification 2024 Exits: Darwin AI — Acquired by Apple (February 2024); model compression AI ScienceIO — Acquired by Veradigm (March 2024); medical AI text analysis ChroniFi — Acquired by Acorns (April 2024); FinTech savings automation 2023 Exits: Capbase — Acquired by Deel (March 2023); cap table management The firm's most recent disclosed investment is EarthSense (agricultural robotics hardware, January 2025). Portfolio Highlights The 2468 Ventures portfolio includes some of the most prominent AI companies of the current era: Foundation Models and AI Platforms: Anthropic, OpenAI, Perplexity AI, Magic, Writer, Personal AI, You.com AI Infrastructure and Cloud: CoreWeave, Lambda, Groq, Databricks AI Chips and Hardware: Cerebras Systems Defense and Aerospace: Anduril Industries, Shield AI, SpaceX Robotics: Figure AI, EarthSense HR and FinTech: Deel, Truework, ChroniFi, Capbase Consumer and Wellness: Oura, Humane, You.com Health Tech: Elemind, Vessel Health, ScienceIO Developer Tools: Replit, HuLoop With 15+ unicorns across the portfolio, 2468 Ventures achieves one of the highest unicorn concentration ratios relative to portfolio size in the early-stage AI investing landscape. Team Pankaj Kedia — Founder and Managing Partner A globally recognized AI thought-leader with 35+ years in technology. Key highlights: Former leadership at Intel (led Intel Capital Wireless Sector, $75M+ across 30+ investments) and Qualcomm Academic: BS from IIT Roorkee (1988), MS from University of Michigan, MBA from Wharton; additionally completed Stanford LEAD, Columbia (Angel Investing), and Venture University (VC) programs Global AI150 Hall of Fame honoree and CAIO Innovators Circle member Board Member and Chief AI Officer at Biossmann AI Committee Chair at NuFund Venture Group COO and Syndicate Investor at Wharton Alumni Angels Venture Partner at VU Venture Partners and Interlock Capital AI Advisor to BCG and GLG Adjunct MBA Faculty at University of San Diego In August 2025, joined Venture Forward Capital as Partner to focus on early-stage AI vertical and agentic AI startups Decision Process 2468 Ventures operates as a solo GP. Pankaj Kedia is the primary and sole investment decision-maker. The firm does not list any additional investment staff. Given the volume of deals executed, the decision timeline is estimated at approximately one month from initial meeting to investment. Geographic Focus The firm invests globally with the United States as the primary base. Pankaj's international background (IIT Roorkee, global career at Intel and Qualcomm) and extensive global network support investments across North America and selectively into Asia. Anti-Thesis 2468 Ventures focuses exclusively on AI and deep tech. The firm avoids: Non-AI, non-deep tech businesses Incremental improvements to existing products without meaningful tech moats Pure services businesses lacking a differentiated technology layer Non-technical founding teams Founder Preferences Kedia specifically seeks founders who: Possess strong technical depth in AI or deep tech Exhibit a resilient "#NeverGiveUp" mindset Target large total addressable markets Show early customer validation and product-market fit signals Demonstrate conviction for 100x disruption potential over incumbents