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Background Capital

Madison, Wisconsin · Invests in US; North America; UK · Website

Pre-SeedSeedSeries AConsumer Apps & SocialB2B SaaSAI & Machine LearningDeveloper ToolsClimate & EnergyEnterprise SoftwareDeveloper Tools & InfrastructureClimate & Clean Energy

Thesis

Invest in fundamental early-stage startups built by ambitious founders. Provide capital plus operational support through a network of successful founder-LPs. Focus on founder chemistry and long-term sustainability over hype.

Likely not a fit for

Avoid trend-chasing, speculative sectors, or founders without commitment. No interest in business models without clear path to sustainable unit economics.

How they invest

Lead or follow
Usually follows
Typical decision
~1 week
Warm intro
Not required
Involvement
Takes a board seat
Fund status
Actively deploying
Decision process
Solo GP

Partners & team

1 contact on file

RC

Rafael Corrales

General PartnerFounder & General Partner · Primary contact

+ Pitch

LinkedIn profile

X profile

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Portfolio

SettleFintech Payments

$23

AudioshakeMedia Entertainment

AudioShake helps makes audio more usable for both humans and machines through its sound separation technology, enabling a wide range of content workflows across the media, entertainment, and speech industries.

FlipTurnEnterprise Software

Flipturn is a technology company that offers an industry-leading EV fleet charging management platform trusted by Fortune 500 fleets. The platform helps manage charging operations, minimize utility costs, and improve charger uptime.

CommonsConsumer Apps Social

Commons is a sustainable lifestyle app that empowers users to make financial choices that are better for themselves, their communities, and the planet. The app helps users track, budget, save, and shop sustainably, promoting a lifestyle that prioritizes environmental responsibility and financial well-being.

Select StarEnterprise Software

Select Star is an intelligent data discovery platform that simplifies data exploration and documentation, providing automated data cataloging, lineage, and semantic models.

GitLegal Regtech

GitLaw is a company specializing in advanced legal data management.

ParallelDeveloper Tools Infra

Parallel provides web search and research APIs specifically designed for AI agents, enabling them to efficiently retrieve and process information from the web.

TundraHr Tech Work

Tundra Technical Solutions is a global provider of total talent acquisition solutions and services, specializing in recruitment and talent management.

VisiaHealthcare Digital

Visia Health is an innovative healthcare provider focused on delivering advanced health solutions to everyone.

ReveriHealthcare Digital

Reveri is a hypnosis app that provides self-hypnosis and guided hypnotherapy sessions to help individuals manage pain, reduce stress and anxiety, improve sleep, and overcome addictions.

ShoppingGivesEcommerce Marketplaces

ShoppingGives is a cause marketing software solution that enables businesses to integrate charitable giving into their customer journey, allowing consumers to support nonprofits through their purchases.

EmperiaMedia Entertainment

Emperia is a commerce-driven platform that empowers creators, studios and enterprises to build cross-device virtual worlds. The platform marries the reach and accessibility of e-commerce and gaming; adding a layer of user engagement, personalization and data monitoring.

Recent activity

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Research briefRead more
Background Capital Research Investment Thesis Background Capital is a solo GP venture fund founded by Rafael Corrales, a former General Partner at Charles River Ventures (CRV). The fund's core philosophy centers on investing in "fundamental" early-stage startups built by ambitious founders. Corrales has deliberately positioned Background Capital as a founder-to-founder network, backed entirely by

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