How Shane Feldberg Built Feld Ventures a Roster of a16z and SpaceX LPs

Who backs a fund often says as much about its judgment as who the fund itself backs. Feld Ventures, the youngest of today's four profiled venture funds, has built a limited-partner roster that reads like a checklist of the venture industry's most recognizable names, a notable feat for a firm founded only a few years ago.

Feld Ventures filed a new vehicle today, structured as a series fund under the name FV/C5, with $3.08 million raised. The firm was founded and is led as general partner by Shane Feldberg, who is based in Toronto and started the fund in 2021 before it began actively investing the following year. Feld Ventures now operates out of both Miami and Toronto, geo-agnostic in its sourcing but anchored in North America, with particular focus on founders in Toronto, New York, and California. Before Feld Ventures, Feldberg worked in mergers and acquisitions and as a senior investment associate at Clearco, where he focused on strategic growth capital and helped launch the company's UK expansion.

A Limited-Partner Base That Reads Like a Checklist

The fund's limited-partner base is where Feld Ventures distinguishes itself most clearly from a typical young seed fund. Its LPs include partners at Andreessen Horowitz, Sequoia Capital, SoftBank Vision Fund, Greylock Partners, Coatue, Lerer Hippeau, GGV Capital, and Upfront Ventures, alongside senior leaders at Uber, Palantir, Stripe, SpaceX, Tesla, Anduril, Airbnb, OpenAI, and YouTube. That roster does more than provide capital: LPs with that kind of operating and investing pedigree typically also provide warm introductions, technical diligence favors, and credibility signals to portfolio founders that a fund without those relationships simply cannot offer at the same scale. Assembling an LP base like that is unusual for a fund founded outside the traditional Bay Area or New York venture corridors; Feldberg's Toronto roots and prior operating experience at Clearco likely provided an early wedge into some of those relationships.

How a Small Generalist Team Covers Six Sectors

Feld Ventures invests at the pre-seed and seed stages across a deliberately broad set of categories: AI applications, defense and cybersecurity, infrastructure, logistics, fintech, and healthtech. That breadth mirrors a pattern seen across several of today's newer venture funds, where a young firm without decades of brand equity chooses a wide sector mandate paired with a narrow stage focus. A generalist mandate this wide only works if a fund's network can cover the diligence gaps a small, sector-agnostic team inevitably has: an operator from Anduril can sanity-check a defense-tech pitch, someone from Stripe can stress-test a fintech infrastructure claim, and a Palantir alum can evaluate a government-facing data product, giving a small team access to specialist-level diligence without having to hire specialists in-house.

Why the Vehicle Is Structured as a Series Fund

The FV/C5 vehicle filed today is structured as a specific series within Feld Ventures' broader fund platform, a common approach for younger managers who want the flexibility to raise capital deal-by-deal or in smaller tranches rather than committing LPs to one large blind-pool vehicle up front. It lets a fund like Feld Ventures build a track record incrementally, giving LPs more visibility into specific deals before committing to a larger, less transparent fund structure.

What This Means for Founders

For founders raising a pre-seed or seed round, a fund's LP base is worth diligencing with nearly the same rigor as its check size and terms, since the quality of a fund's network often determines how useful an investor is after the check clears rather than before. Understanding how a fund's limited partners differ from its general partner leadership, and what each brings to a portfolio company beyond capital, remains one of the more overlooked parts of choosing which term sheet to sign. Founders can also check whether a fund's typical term sheet includes a pro-rata right for future rounds, since a fund with LPs this well connected often wants to preserve the option to double down on its winners.

Browse the pre-seed investor directory and AI and machine learning directory, or explore active capital on AngelLinx @ angellinx.ai/register.

AngelLinx Intelligence | angellinx.ai