Burlingame, CA·Hardware, Healthcare, Energy·Last fund filed April 2026
Funds on file
12
Partners named
3
1 on a current fund
Recent board seats
4
last 24 months
Capital raised
$215M
across filed funds
What has Refactor Capital raised?
12 vehicles
Vehicle
Filed
Target
Sold to date
Investors
Refactor Capital V
April 2026
$50M
$50M
16
Refactor Capital IV
June 2024
$50M
$50M
38
Refactor Capital III
March 2021
$50M
$50M
41
Refactor Specialty
2021
$3.1M
$3.1M
2
Refactor Sugar
April 2020
$2.5M
Amounts are Item 13 as filed: the target is the whole offering, and the amount sold is cumulative across amendments rather than a final close. The filing carries no per-investor amount, so a firm’s own cheque is not recoverable here.
Who at Refactor Capital can lead a round?
3 named
3 partners are named across this firm’s filings, 1 of them on a fund it is deploying now.
Partner
Activity
Categories
Board seats
Last 24mo
David LeeNot on the current fund
Active
None listed
21
What sectors do Refactor Capital's boards fall in?
21 companies
Classified sectors of Refactor Capital’s own portfolio companies, based on 21 with a verified or cited source.
Digital health4 · 19%
Food & agriculture3 · 14%
Climate & energy2 · 10%
Enterprise software2 · 10%
Fintech2 · 10%
Who invests alongside Refactor Capital?
No other firm shares a filed board seat with Refactor Capital yet. That is a gap in what we have read, not a claim that Refactor Capital invests alone.
A shared board seat: a company where filings name a Refactor Capital partner and a partner at the other firm, both with a clean identity match. Not a claim either firm led or co-led the round, only that both are named on the same board.
$2.5M
14
Refactor Ivy
March 2020
$3.1M
$3.1M
3
Refactor Apogee
August 2019
$1.4M
$1.4M
4
Refactor Capital II
May 2019
$30M
$30M
37
Refactor Crypto
December 2018
$1M
$1M
4
Refactor Cacao
May 2017
$21M
$21M
1
Refactor Curry
May 2016
$3.2M
$3.2M
3
Refactor CapitalFiled to raise in 2016, with no closing reported yet.
Activity is filed board seats in the last 24 months: 4+ Active, 2–3 Selective, 1 Slowing, none Quiet. A firm's tier totals its partners, so an active firm may be four partners with one seat each. It undercounts partners who invest without taking a board seat, and filings lag a closing by weeks, so Quiet means the paperwork is quiet, not the person.
AI & machine learning
1 · 5%
Cybersecurity1 · 5%
Developer tools & infrastructure1 · 5%
Healthcare services1 · 5%
HR & future of work1 · 5%
Manufacturing & industrials1 · 5%
Media & creator tools1 · 5%
Sales & marketing tech1 · 5%
Not a filing value: this is Lev’s own classification of each company, one company one vote regardless of how many of Refactor Capital’s partners are named on its board, shown only when we found a specific, checkable source. Companies with no source read as unclassified and are left out of the shares above.
