Palm Drive Capital

Palm Drive Capital is a New York-based venture capital firm established in 2014, specializing in early-stage investments. The firm primarily backs generational founders at the pre-seed, seed, and Series A stages, with a focus on technology companies. Their investment scope spans various sectors including Software as a Service (SaaS), Artificial Intelligence (AI), Financial Technology (Fintech), and e-commerce. The firm is known for its global investment approach, operating under the belief that innovators are present everywhere, and supports startups across diverse geographical regions.

The firm was founded by Hendrick Lee and Seamon Chan, who met at Stanford University over a decade ago. Nicholas Hsu is also a managing partner. Motivated by a desire to support innovative ideas, Lee and Chan established Palm Drive Capital. The firm's name itself is inspired by Palm Drive at Stanford, symbolizing a bridge connecting the entrepreneurial spirit of the West Coast with the work commitment of the East Coast, embodying an open-minded, flexible, and innovative approach to venture capital.

Palm Drive Capital has built a notable portfolio with investments in a wide array of companies. Key investments and successful exits include Deep Instinct, MoneyLion, Clover Health, and Long Game. Other portfolio companies span various tech subsectors, such as Avenia, Clipto.AI, CoCreate, Kira, WeLab, B8ta, Boom Supersonic, Catalyte, Carta, Jet.com, Rappi, Hyperloop One, Simscale, Loop, EduFi, Stanly, Openlayer, Chargezoom, BOX ID, and CloudTalk. The firm often engages in collaborative investment, frequently co-investing with other venture firms rather than exclusively leading rounds, and provides strategic guidance through its extensive network.

The leadership team, including co-founders Hendrick Lee and Seamon Chan, brings significant experience to the firm. Seamon Chan previously worked at Insight Venture Partners, a prominent venture capital and growth equity firm. Nicholas Hsu, another managing partner, has a background at Palantir Technologies, focusing on data-driven solutions. Catherine Cai is also noted as an expert within the team, contributing to the firm's investment and operational expertise. Palm Drive Capital emphasizes providing hands-on support, strategic thinking, and valuable introductions to its portfolio companies.