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Underdog Labs is an early-stage (pre-seed) fund solely focused on helping belief-driven founders with a piercing vision create and scale successful companies. It invests very early, typically in rounds of $1M or less and often pre-product/pre-monetization, in areas where it understands the distribution channels - mainly B2B software and consumer. It is very rare for the firm to invest in hardware manufacturing or regulatory-heavy businesses.
Primary stage
Hardware / software
B2B / B2C
Investment style
Generalist
Data last enriched
Aug 14, 2026
Investing team
- David HehmanCo-founder & GP
- Alex ChangCo-founder & GP