Operator perspective
Learn from people who have scaled teams, products, and companies.
Venture capital for Asian American founders building what comes next
Hyphen Capital backs exceptional Asian American founders across stages. We invest $150,000 to $5,000,000, depending on the deal and stage, and connect founders with people who have built, operated, and led companies before.
- $35M+
- Invested
- 100+
- Companies backed
- 1,000+
- Operator network
What is Hyphen Capital?
An early bet, backed by a community built to widen access.
Hyphen Capital is a venture firm founded and led by Dave Lu that invests in Asian American founders. Hyphen invests across stages, writes checks from $150,000 to $5,000,000 depending on the deal, and backs founders with a network of veteran founders, operators, and executives.
Talent and ambition are widely distributed. Access is not.
Asian American founders are not a monolith, and identity alone does not determine investment fit. But leadership stereotypes and closed investor networks can still cause strong founders to be misread or overlooked.
Hyphen looks for the founder and the work before consensus makes the opportunity obvious.
Who Hyphen backs
Fit, without the mystery.
- Founder alignment
- Asian American founders building enduring companies.
- Stage
- Across stages, from pre-seed through growth. Hyphen can write an early check and continue backing founders as the company grows.
- Check size
- $150,000 to $5,000,000, depending on the size and stage of the deal.
- Sector approach
- Broad by design — software, AI infrastructure, consumer, and beyond.
- What matters
- Conviction, resourcefulness, a sharp view of the problem, and the ambition to build something enduring.
Build your own house
Stop waiting for permission from systems that may never recognize your ambition.
For founders, that can mean building the company, category, team, and network you want to exist. Hyphen wants to be among the people willing to bet early — before the path looks obvious to everyone else.
Read the full thesisThe network advantage
Capital is one part of the relationship.
A useful investor network should help founders find relevant experience when the next decision is unfamiliar.
Fundraising perspective
Pressure-test the story, milestones, and next-round strategy with experienced founders and investors.
Hiring and leadership
Get perspective from executives and operators who understand the role or stage.
Relevant introductions
When there is a useful fit, Hyphen can help connect founders to people in its community.
Founder community
Build alongside peers who understand the ambition and the pressure of the work.
These are areas where the network can support founders, not guaranteed outcomes.
$35M+
Invested
100+
Companies
1,000+
Operator network
Hyphen’s category conviction is backed by investments, long-term founder relationships, and a community built around widening access rather than guarding it.
Founder perspective
What it feels like to have Hyphen on your side.
“Dave is a cornerstone of the Silicon Valley founder community. He is selfless with his time and wisdom, and has not only built successful businesses of his own, but also had a helping hand in shaping the success of many other early stage companies in his network. Dave is a great thought partner, the ultimate community-connector, and an all-around great person for any early stage startup to have on their side.”
Nan Wang
CEO, Sleeper
“Having Dave on your side means you are unlocking a network of executives who actually respond to introductions. Just from one update call with Dave, we got a huge list of direct and warm strategic connections that would have taken us months to unlock otherwise.”
Allison Lee
CEO, Revive
“Dave was our first check. He invested in our category with conviction when it was contrarian to do so. He's one of our most value-add investors — and has, as a single individual, the connections rolodex of an entire VC firm.”
Derek Lee
CEO, Boo
“I instantly connected with Dave, because he knows the challenges facing AAPI founders raising capital. Despite our metrics and traction, we always had to work twice as hard for half the amount. Dave immediately recognized our talent and showed his support from day one. It's a mission worth supporting.”
Henry Shi
COO, Super.com
“Dave has supported Persona since its earliest days. As Asian American founders, we understood the need for more entrepreneurial support for our community — and were delighted to work with him to forward Hyphen's mission.”
Rick Song
CEO, Persona
Frequently asked questions
Before you pitch.
What is Hyphen Capital?
Hyphen Capital is a venture firm founded and led by Dave Lu that invests in Asian American founders. It invests across stages, writes checks from $150,000 to $5,000,000 depending on the deal, and backs founders with a network of veteran founders, operators, and executives.
Who does Hyphen Capital invest in?
Hyphen invests in exceptional Asian American founders building enduring companies. The firm looks across sectors and stages, with a focus on founder conviction, resourcefulness, insight, and ambition. Identity is part of Hyphen’s focus, but it is not the only criterion for investment.
What stages does Hyphen Capital invest in?
Hyphen is stage agnostic. It invests from pre-seed through growth and can write an early check before a company or round has broad investor consensus.
What is Hyphen Capital’s typical check size?
Hyphen writes checks from $150,000 to $5,000,000, depending on the size and stage of the deal.
Does Hyphen focus on specific industries?
Hyphen’s sector approach is broad. Its portfolio includes companies across software, AI infrastructure, consumer, and other categories. The founder, insight, and opportunity matter more than fitting a narrow sector label.
How can a founder pitch Hyphen Capital?
Founders can pitch Hyphen through the intake at hyphencap.com/contact. Share who you are, what you are building, your company website, and a short description; a shareable pitch deck URL is optional.
Does a founder need a warm introduction to pitch Hyphen?
No warm introduction is required to use Hyphen’s founder intake. Founders can contact the firm directly through the Pitch Hyphen form.
How does Hyphen support founders after investing?
Hyphen supports founders with hands-on perspective and access to a network of veteran founders, operators, executives, lawyers, and other specialists. Depending on the company’s needs and relevant fit, that can include perspective on hiring, leadership, fundraising, and useful introductions.
Why does Hyphen focus on Asian American founders?
Hyphen believes exceptional Asian American founders can be underestimated by leadership stereotypes and investor networks that do not see talent evenly. The focus is both a mission and an investment belief: back strong founders with conviction before consensus forms around them.
What does “build your own house” mean?
“Build your own house” means creating the company, category, team, or path you want instead of waiting for permission from systems that may not recognize your ambition. It is Dave Lu’s founder-facing response to the bamboo ceiling and a core idea behind Hyphen’s investment thesis.