Muse Capital

Muse Capital Research Investment Thesis Muse Capital is an early-stage venture firm investing in traditionally overlooked and untapped consumer technology opportunities across three key sectors: the future of how we care , play , and live . Founded in 2016 by Assia Grazioli-Venier and Rachel Springate, the fund has established a distinctive thesis centered on backing bold founders building category-defining businesses in multibillion-dollar markets that have been historically ignored by mainstream venture capital. The firm's core conviction is that major demographic and economic shifts in the US will create massive untapped markets. They specifically focus on: increasing cultural diversity, a rapidly growing elderly segment, and a significant rise in female wealth and financial influence. Rather than chasing hype, Muse invests in what the world needs next—companies that should exist. Key Investment Themes Care: The firm backs innovations in preventative health, personalized wellness, and longevity, with a particular focus on historically underserved populations like women and the elderly. Their portfolio in women's health is particularly strong—from hormonal health (Eli Health, Midi Health) to maternal care (Mahmee, Mavida Health) and fertility (Cofertility, Future Family, Conceivable Life Sciences). Play: Muse invests in the next generation of entertainment, gaming, and interactive experiences with a focus on inclusion, representation, and cultural relevance. This includes gaming platforms (FlickPlay, Wonder Works), women's sports media (Just Women's Sports), and children's entertainment (Ok Play, Caribu). Live: The fund targets tech-driven solutions transforming everyday life, from parenting (Ohai, Motherly) and caregiving (Kinside) to financial wellness (Finli, GoHenry) and sustainable living (Save Trees, HoldOn). Distinctive Capabilities Muse Capital's competitive advantage rests on two core superpowers: Business Development & Execution: With over 20 years of operating experience in consumer brands, Muse brings far more than capital. The team helps founders go-to-market, commercialize, and scale through high-impact partnerships and strategic execution. They've facilitated collaborations with Fortune 500s like Disney, Live Nation, Universal Music Group, and Mattel. Cultural Foresight & Taste: The fund has a documented track record of identifying cultural inflection points years before they hit the mainstream. Assia's career spans from Ministry of Sound to Spotify (betting early on music streaming) to Juventus Football Club, while Rachel came from Quintessentially (global luxury partnerships). This combination of taste and timing has consistently positioned them to back market leaders before the market forms. Stage Focus & Check Size Preferred Stages: Early-stage with emphasis on Seed and Series A investments. Check Size: Typically $100K-$1M for seed-stage investments, scaling up for Series A opportunities. Lead Tendency: The fund frequently leads rounds but is also comfortable co-leading and participating in later stages. Recent Activity & Fund Status Fund Status: Actively deploying. The firm has 50+ portfolio investments. Recent Notable Investments: Midi Health surpassed $1B valuation (February 2026) Conceivable Life Sciences closed $18M Series A (January 2025) Snout ID raised $110M (January 2026) Portfolio Performance: Exits: Robinhood (IPO), FaZe Clan (Exited) Acquisitions: GoHenry (Acorns), Caribu (Mattel), Ok Play (Dapper Labs), Queens (XSet), Betcha (Vivid Seats), Codeverse (Varsity Tutors), MessageYes (Nordstrom), Clarity Money (Goldman Sachs) Team Assia Grazioli-Venier - Co-Founder & Managing Partner. A recognized force in women's healthcare. Career includes Ministry of Sound, early Spotify, Juventus FC board member, NYSE:TPB board. Breast cancer survivor, dyslexic advocate, fluent in four languages, lived across five global capitals. Rachel Springate - Co-Founder & General Partner. Brings relationship capital and commercial instinct. Global Head of Corporate Sales at Quintessentially (partnerships with Amex, LVMH, Gucci, Google, Ferrari). Kauffman Fellow, diversity advocate, mother of two, based in Los Angeles. Elizabeth Gill - Venture Partner Maria De Santis - Principal 70%+ of portfolio led by female and underrepresented founders. Geographic Focus Primary: Los Angeles, California (headquarters) Secondary: New York International: Global networks spanning Europe, Asia, emerging markets Portfolio Composition Primary Sectors: Healthcare/Women's Health, Consumer Technology, Entertainment/Gaming, Fintech Healthcare Portfolio: Midi Health ($1B+), Eli Health, Cofertility, Mahmee, Conceivable Life Sciences, Future Family, Mavida Health, BeSound Entertainment/Gaming: FlickPlay, Wonder Works, Just Women's Sports, FaZe Clan, Queens, Ok Play, Caribu, Betcha Consumer/Wellness: Beekeeper's Naturals, Motherly, Momentous, Ohai, Save Trees, HoldOn Fintech/Lifestyle: Finli, Arrow, Dogdrop, Kinside, Mayvenn, Snout ID Founder Preferences Muse actively seeks: Grit and vision with proven execution Diverse and underrepresented backgrounds Purpose-driven missions aligned with demographic shifts Deep domain expertise Bold, category-defining ambition Particular focus on: Female and women-led founders Multicultural founders Overlooked entrepreneurs Founders solving for marginalized populations Decision Process & Involvement Decision-Making: Partnership model with Assia and Rachel leading decisions. Involvement: Beyond board seats, provides: Strategic introductions and partnership facilitation Go-to-market and execution support Brand positioning and communications Fortune 500 and celebrity network access Thought partnership on hiring and strategy Timeline: Weeks to 1-2 months for active deal diligence Muse Sport: Sports & Entertainment Advisory arm offering LPs access to: Washington Spirit (women's soccer) SailGP (sailing league, Italy team ownership) Sequel (sports media) Sports Innovation Lab Women's Pro Baseball League Corporate Values Profit With Purpose: Returns and responsibility to shape better future Diversity Drives Performance: Women and multicultural founders should be the norm Value Over Hype: "We don't chase hype. We invest in what should exist." Four T's: Taste - Market leaders before mainstream Team - World-class founders Timing - Inflection points years ahead TAM - Massive, underserved markets Investment Philosophy Muse operates at intersection of art and commerce. They identify underserved markets, back overlooked founders, and build category-defining companies. Their thesis on demographic shifts (aging, female wealth, diversity) has proven prescient—particularly in women's health where portfolio companies like Midi Health achieved billion-dollar valuations ahead of mainstream recognition.