Script Capital

# Script Capital: Early-Stage Venture Fund Powering Technical Founders

High-Level Overview

Script Capital is a San Francisco-based venture capital firm that specializes in pre-seed and seed-stage investments in early-stage internet and software startups.[1][2] The firm operates as a $38M pre-seed fund with a focused investment thesis centered on supporting technical founders building developer-facing tools and infrastructure.[3] Script Capital's mission centers on providing the optimal capital structure—typically $250k-$500k checks—that enables small founding teams of 2-3 cofounders to achieve product-market fit and position themselves for breakout growth.[3]

The firm maintains a generalist investment approach while maintaining particular strength in enterprise software, artificial intelligence, consumer products, business services, ecommerce, and Web3/crypto sectors.[3] Script Capital invests across geographies including the USA, Canada, Asia-Pacific, and Europe, though with a clear emphasis on North American founders.[3] By focusing on the pre-seed stage, Script Capital fills a critical gap in the venture ecosystem—providing capital at a moment when founders need enough runway to validate their core thesis but before they're ready for larger institutional seed rounds.

Origin Story

Script Capital was formerly known as 122west.vc before rebranding to its current identity, reflecting an evolution in its market positioning and focus.[3] The firm is led by partners including Evan and AJ, who serve as primary points of contact for potential founders.[3] While specific founding details remain limited in available information, the firm's transition to the Script Capital brand signals a deliberate repositioning toward the pre-seed market and a commitment to supporting technical founders building infrastructure and developer tools—a segment that has grown increasingly important as the software ecosystem matures.

The firm's emergence reflects broader market dynamics: as venture capital has become increasingly concentrated in larger rounds, a meaningful gap opened for high-quality pre-seed capital. Script Capital positioned itself to fill this niche by combining meaningful check sizes with hands-on support, recognizing that technical founders often need both capital and operational guidance during the critical early stages of company building.

Core Differentiators

Optimal Capital Sizing for Early Stage

Script Capital's $250k-$500k check size represents a deliberate calibration for pre-seed investing. This range is large enough to provide meaningful runway for a small founding team but small enough to avoid over-capitalizing companies before product-market fit is validated. This sizing discipline prevents the common pitfall of early-stage founders becoming distracted by capital management rather than focused on building.

Technical Founder Alignment

The firm explicitly targets technical founders building developer-facing tools and infrastructure.[3] This specialization creates natural alignment: the partners understand the technical challenges these founders face, can evaluate product quality directly, and bring relevant networks of potential customers and future hires. This contrasts with generalist pre-seed funds that may lack deep technical context.

Diversified Sector Coverage

While maintaining focus on technical founders, Script Capital invests across multiple high-growth sectors including AI, enterprise software, consumer products, Web3, and marketplaces.[3] This breadth allows the firm to participate in multiple emerging trends while maintaining disciplined investment criteria around founder quality and market timing.

Proven Portfolio Quality

Script Capital's portfolio includes notable companies such as Patreon (creator economy), The Graph (Web3 infrastructure), Gamma (AI-powered presentations), Material Security (enterprise email security), Audius (decentralized audio protocol), and Lago (open-source billing infrastructure).[2] This roster demonstrates the firm's ability to identify founders and ideas early, before they achieve widespread recognition.

Geographic Flexibility

Unlike many pre-seed funds concentrated in Silicon Valley, Script Capital actively invests across North America, Europe, and Asia-Pacific, providing founders outside traditional tech hubs access to quality early-stage capital and network effects.[3]

Role in the Broader Tech Landscape

Script Capital operates at an inflection point in venture capital's evolution. The traditional venture model—where seed rounds of $1-2M followed by Series A rounds of $5-10M—has become increasingly compressed. Today's most successful founders often raise meaningful pre-seed capital before approaching traditional seed investors, making firms like Script Capital essential infrastructure for the startup ecosystem.

The firm's focus on developer tools and infrastructure reflects a deeper trend: as software becomes increasingly commoditized, the highest-value opportunities lie in tools that make other developers more productive. Companies like The Graph and Lago exemplify this thesis—they solve fundamental problems for other builders, creating network effects and defensible positions. Script Capital's early identification of this trend positions it well as enterprise software continues its shift toward infrastructure and tooling.

The rise of AI has particularly validated Script Capital's investment thesis. Many of the firm's portfolio companies—including those building AI-powered solutions and fine-tuned LLMs for enterprise use—represent the next generation of developer tools. By maintaining a pre-seed fund focused on technical founders, Script Capital captures founders at the moment they're building the infrastructure layer for AI-powered applications.

Additionally, Script Capital's willingness to invest globally reflects the reality that technical talent and innovative ideas are no longer concentrated in Silicon Valley. By maintaining geographic diversity, the firm taps into emerging startup ecosystems while providing founders in secondary markets access to capital and networks that were previously unavailable outside major tech hubs.

Quick Take & Future Outlook

Script Capital has positioned itself as a critical node in the pre-seed venture ecosystem at precisely the right moment. As the venture market continues to mature and capital becomes more concentrated in larger rounds, the need for high-quality pre-seed capital will only intensify. The firm's combination of disciplined capital sizing, technical founder focus, and portfolio quality suggests it will continue to attract strong deal flow.

Looking forward, Script Capital's influence will likely expand in several directions. First, as its portfolio companies mature and achieve success, the firm's brand will strengthen, attracting even higher-quality founders in future funds. Second, the firm's geographic diversity positions it well to capture the next wave of technical innovation emerging from non-traditional startup hubs. Third, as AI continues to reshape software development, Script Capital's existing portfolio of AI-focused companies will likely produce significant returns, validating the firm's early thesis.

The broader question for Script Capital is whether it can maintain its pre-seed focus or whether it will eventually expand into larger rounds to follow its best companies forward. For now, the firm's discipline in staying focused on the pre-seed stage—providing exactly the capital and support founders need at that critical juncture—represents its greatest strength. In a venture ecosystem increasingly characterized by capital abundance at later stages and scarcity at early stages, Script Capital has found a durable competitive advantage by solving a real problem for technical founders at the moment they need it most.