9Yards Capital

9Yards Capital Research Investment Thesis & Philosophy 9Yards Capital is a $1B+ growth-stage technology investment firm focused on critical infrastructure for foundational industries. The firm aims to be strategic capital partners through unique regulatory perspectives and connectivity in each industry they invest in. Founded with a distinctive emphasis on foundational industries—not trendy sectors—9Yards backs companies building critical infrastructure and operational software for established, regulated industries where regulatory knowledge and industry connectivity create defensible advantages. The fund's philosophy is grounded in the belief that exceptional returns come from supporting technical founders who are solving genuine operational problems in industries that have been historically overlooked by venture capital. By pairing capital with deep domain expertise through their Strategic Intelligence Council, 9Yards provides both financial resources and meaningful operational support that extends far beyond typical venture backing. Fund Structure & Stage Focus 9Yards Capital is currently deploying from Fund IV, representing the firm's commitment to continued growth. The firm focuses primarily on growth-stage and late-stage investments, with a particular emphasis on infrastructure, fintech/payments, and supply chain/logistics companies. Stage Focus: Primary: Growth Stage (Series B, Series C, and beyond) Secondary: Series A for exceptional companies Typical fund participation: Lead rounds with meaningful ownership stakes The firm conducts direct equity investments, allowing for flexible ticket sizes depending on the opportunity and their conviction level. Recent activity demonstrates strong deployment velocity across multiple sectors and geographies. Check Size & Investment Tickets Based on portfolio analysis and public information: Typical Check Size Range: Minimum: $100K (early-stage follow-ons) Maximum: $10M+ (large growth rounds) Sweet spot: $1M-$5M for typical Series A/B participation 9Yards has demonstrated willingness to deploy larger capital amounts in later-stage rounds where they see clear value creation opportunities. Their portfolio includes both smaller early-stage positions and significant growth capital investments in maturing portfolio companies. Lead Tendency & Decision Process Lead Tendency: Leads and participates (both) The firm explicitly states they lead and participate in rounds. Their portfolio demonstrates a balanced approach with numerous lead investments (particularly in early growth-stage companies) as well as selective participations in larger rounds alongside tier-1 co-investors like Sequoia, Andreessen Horowitz, Databricks, and other growth-stage specialists. Decision Process: Partnership model with specialized expertise The firm operates with a partnership structure where multiple team members source and evaluate deals. This is complemented by their Strategic Intelligence Council—an extraordinary network of former heads of state, military leaders, regulatory experts, and C-suite executives from Fortune 500 companies—who provide strategic guidance on sector-specific decisions and regulatory considerations. Decision Timeline: 2-4 weeks (estimated based on fund size and complexity of growth-stage deals) Recent Activity & Fund Status Fund Status: Actively deploying from Fund IV 9Yards Capital demonstrates strong recent activity with February 2, 2026 investment in GenLogs, October 2, 2025 investment in Cambridge Aerospace, and November 19, 2025 participation in Doppel's Series C ($70M round). The firm manages $1B+ in assets under management across multiple funds. Portfolio Highlights & Notable Companies 9Yards Capital has built an impressive portfolio of 100+ companies across infrastructure, fintech, and supply chain sectors including Databricks, Anduril Industries, Chainalysis, Gusto, Carta, Instawork, Remote.com, Flutterwave, Doppel, and Cambridge Aerospace. Notable exits include Robinhood, Coinbase, Toast, Better.com, Deliverr, and Epirus Inc. Investment Team & Leadership The firm is led by George Osborne (Founding Partner), Theo Osborne and David Fisher (Managing Partners), Hunter McNabb (General Partner), Daniel Jaffe and Vik Chawla (Partners), with an extraordinary Strategic Intelligence Council including Malcolm Turnbull (Former Australian PM), Sir Grant Shapps (Former UK Defence Secretary), Admiral Mike Rogers (Former NSA Director), and Governor Jeb Bush, plus CISOs and executives from major corporations. Geographic Focus Primary: United States with headquarters in San Francisco International: Selective investments across Europe, Africa, and Asia Sector & Model Focus 9Yards Capital invests across fintech/financial infrastructure, supply chain/logistics, defense/security technology, healthcare infrastructure, real estate/proptech, and AI/ML infrastructure. They prefer B2B software with strong unit economics, infrastructure companies solving operational bottlenecks, marketplace models with network effects, and companies enabling regulated industries. Founder Preferences & Sourcing 9Yards Capital seeks technical founders with deep domain expertise in regulated industries, preferably with prior success at scale-ups or enterprises, along with regulatory savvy and capital efficiency mindset. Engagement & Support Model Typical Involvement: Board seat + operational partnership 9Yards positions itself as a hands-on partner, providing strategic guidance on regulatory challenges, industry-specific expertise through council connections, fundraising support, and access to Fortune 500 decision-makers. Unique Positioning 9Yards Capital combines growth-stage capital with extraordinary domain expertise in regulated industries, creating defensible advantages for portfolio companies navigating complex regulatory and operational landscapes. The firm's Strategic Intelligence Council—an unmatched network of regulatory and government expertise—is their most distinctive competitive advantage.