Michael Stephan

Michael Stephan is the Managing Partner at Unpopular Ventures, based in San Francisco, California. He previously served as a Partner at Bessemer Venture Partners from 2018 to 2022, following earlier investment roles at Founders Fund, and holds a computer science degree from Stanford University. In March 2024, he launched his firm's second fund totaling $100 million to back early-stage technology companies across the United States. His portfolio encompasses more than 50 investments, featuring notable unicorn exits such as Rippling alongside recent allocations into emerging artificial intelligence startups in early 2025. Beyond his core investment activities, he maintains an active public presence as a Substack writer and frequent industry podcast guest with a large online following. Stephan currently focuses on leading seed and pre-seed funding rounds for founders building software-as-a-service, artificial intelligence, financial technology, and developer tools.