Moonshots Capital

Moonshots Capital Research Investment Thesis Moonshots Capital is founded and led by military veterans who have been investing in America's best early-stage technology companies since 2004. The firm's core thesis centers on backing extraordinary leadership —teams that not only have the capability to build and exit businesses but also embody a leadership philosophy that the firm's military-trained partners can uniquely mentor, support, and amplify. Unlike traditional venture capital that focuses primarily on market size or technology trends, Moonshots Capital has developed a proprietary seven-criteria framework for assessing extraordinary leadership, refined through West Point training and two decades of entrepreneurial and investment experience. This framework evaluates founders across: drive, mission, teamwork, expertise, strategic excellence, growth mindset, and integrity. The firm has particular conviction in military veteran founders, who represent more than 30% of AUM and historically outperform average returns. Beyond capital, Moonshots deploys military leadership skills, entrepreneurial experience, and an extensive government and private sector network to help elite founders build world-changing companies. Sector and Model Focus Industry Agnostic with Strategic Advantages: Moonshots Capital is technically industry-agnostic but strategically focuses on sectors where military backgrounds, government relationships, and operational experience create unfair advantages for founders: Defense and Dual-Use Technology - Red 6 (augmented-reality military flight training), Mission Sciences (intelligence/defense), Threatcare (cybersecurity) Cybersecurity - SGNL (identity verification, acquired by Crowdstrike), Upskill (AR security applications) AI and Advanced Technology - Neuralink (brain-computer interfaces), xAI (AI infrastructure), Cleary (AI-driven decision making), MindStudio (AI applications) Enterprise Infrastructure - Autonomy (software for military and enterprise), NXYZ (data infrastructure, acquired by Snowflake) Space and Aerospace - Outpost (orbital cargo and microgravity manufacturing), PlanetiQ (geospatial intelligence) Healthcare and Life Sciences - PlushCare (telehealth, acquired by Accolade) Financial Services and Commerce - ID.me (identity verification), Fair (used car marketplace), Cart.com (unified commerce), Robinhood (retail trading) Consumer and Applications - Slack (communication, acquired by Salesforce), Pandora (music, acquired by SiriusXM), TrueCar (automotive marketplace, IPO) The portfolio reveals a genuine sector agnosticism combined with deep conviction in leadership—the firm has backed companies across consumer apps, enterprise software, defense tech, AI, healthcare, and fintech. Stage and Check Size Preferred Stage: Seed with line of sight to next financing round Specific Deal Criteria: Product or MVP live with customer/client traction Monthly recurring revenue of $100k+ At least $500k in previously raised capital Follow-on investment rights Lead investor rights and board membership Check Size: Estimated $1M-$10M+ range based on portfolio analysis Fund 3 ($21M deployed across 10 companies) suggests ~$2M average check size Historical investments in ID.me, Red 6, Autonomy, and others indicate significant checks Syndicate vehicles allow flexibility down to $5,000 minimums for follow-ons and late-stage opportunities Lead Tendency: Strongly leads rounds Strategic requirement for board membership and lead rights indicates preference to lead Fund II and Fund III companies show pattern of leading or co-leading investments Partnership structure with Craig Cummings allows deep founder support model Recent Activity and Fund Status Fund III Status: Actively Deploying Fund III is the current active investment vehicle. Portfolio metrics: $21M total deployment 10 companies backed 4 veteran-led companies 2 exits (NXYZ to Snowflake, Mission Sciences merged with Mission Essential) 1 unicorn (ID.me) Recent Investments (2025-2024): Cleary (Fund 3) - AI decision-making platform Matchday (Fund 3) - Sports technology Outpost (Fund 3) - Space/orbital logistics Proteus Space (Fund 3) - Defense/space tech Team and Decision Process Leadership Team: Kelly Perdew - Co-Founder & Managing General Partner Investing since 2004 West Point honor graduate, former Army Intelligence Officer Ranger School and Airborne Training Joint MBA and JD from UCLA Serial founder with operating roles at 10+ early-stage companies Board and advisory roles: Ustream (IBM acquisition), Bitium (Google acquisition), eteamz (Activision acquisition), Harvest.ai (Amazon acquisition), Scopely (Savvy Games acquisition) Season 2 winner of NBC's The Apprentice Published author and nationally recognized speaker Deep conviction in founder mentorship and support Craig Cummings - Co-Founder & General Partner Veteran leadership background Deep operational expertise supporting founders Partnership model indicates joint decision-making on major investments Founder Preferences Moonshots Capital has exceptional conviction in military veteran founders , particularly those who: Have shipped successful products or companies previously Demonstrate exceptional drive and mission-orientation Show collaborative teamwork and culture-building ability Have proven strategic excellence and operational competence Display growth mindset and emotional intelligence Embody integrity and accountability Non-military backgrounds welcome if founders demonstrate exceptional leadership qualities. Geographic Focus Primary: United States Austin, TX headquarters Strong West Coast presence (LA, SF Bay Area) East Coast network (NYC area) Secondary: Selective international investments European market presence (UK, Germany) Israel (strong venture ecosystem) Operational Support Beyond capital, Moonshots provides: Military leadership mentorship and founder training Government relationships and network (DoD, Intelligence Community) Operational expertise from Kelly and team's experience at 10+ startups Active board participation and strategic support Network access to customers, partners, and downstream investors Capital access through syndicate vehicles for follow-on rounds Performance Track Record Unicorn Portfolio Companies: ID.me - Identity verification (veteran-led) Slack - Communication platform (acquired by Salesforce) SpaceX - Space exploration (angel investment) xAI - AI infrastructure Cart.com - Unified commerce Apptronik - AI humanoid robots Pandora - Music streaming (acquired by SiriusXM) Robinhood - Retail trading (IPO) LinkedIn - Professional network TrueCar - Automotive marketplace (IPO, veteran-led) Recent Fund III Results: $21M deployed across 10 companies 4 veteran-led companies backed 2 exits (NXYZ to Snowflake, Mission Sciences merger) 1 unicorn (ID.me) Portfolio includes Cleary (AI), Outpost (space), Proteus Space (defense), StockApp (fintech) Summary Moonshots Capital is a specialized venture capital firm focused on backing extraordinary leadership, with particular conviction in military veteran founders. Founded in 2004 by Kelly Perdew and Craig Cummings, the firm brings unique operational support, military mentorship, and government relationships to founder teams building in defense, AI, cybersecurity, and adjacent sectors. With strong exits and a track record of supporting unicorn-building founders, Moonshots offers hands-on partnership and board-level support rather than passive capital.