/ Conduct Index / Initialized Capital

Initialized Capital

Tier 1 Seed Fund · Seed · Pre-seed
B+

Good (B+) — Capital Conduct Grade

Initialized (founded by Garry Tan and Alexis Ohanian) is a top seed fund with strong YC-affiliated founder pipeline. Garry Tan's departure to YC 2023 was a material event. Founder-friendly term-sheet behavior; current partner team continuity verified.

85
Composite / 100
/ Subscore Breakdown · 5 Dimensions

Where this grade comes from.

Term Sheet Honesty
B+
Founder-Friendliness
B+
Follow-On Discipline
B+
Exit Support
B
Network Quality
B+
/ Public-Record Events

Key events & disclosures.

  • Founded 2012
  • Garry Tan + Alexis Ohanian founding partners
  • Garry Tan departed to YC 2023
  • Coinbase seed investor

/ Best for

Seed founders, particularly YC alumni, seeking institutional-grade seed partner.

/ Watch out for

Garry Tan's departure created leadership transition; verify current partner-team continuity.