Uncorrelated Ventures

Uncorrelated Ventures is a San Francisco-based venture capital firm founded in 2019 by Salil Deshpande, a former Managing Director at Bain Capital Ventures and six-time Forbes Midas List honoree. The firm is run as a solo GP operation — unusually, Deshpande manages the fund without junior investors or associates — and has offices in both San Francisco and London. The firm focuses exclusively on early-stage infrastructure software, spanning both traditional and decentralized stacks. Sector coverage includes cloud infrastructure, open-source software, developer tools, AI infrastructure, blockchain, DeFi, fintech, and IoT. Uncorrelated manages over $750 million in assets across three active funds and has backed more than 100 companies. Typical check sizes range from $100K to $10 million, with a sweet spot around $1 million, primarily at pre-seed through Series A. Notable portfolio companies include Databricks, Deel, Compound, Cosmos, dYdX, Helium, Uniswap, Crusoe Energy, Astranis, and Angel Studios, with 17 unicorns and over 30 acquisitions across the portfolio.