Incisive Ventures is a pre-seed fund in Seattle investing in technology companies that reduce friction at scale.https://incisive.vc/en-UShttps://incisive.vc/2026/06/11/navigating-lifes-big-decisions-insights-from-alec-torelli/https://incisive.vc/2026/06/11/navigating-lifes-big-decisions-insights-from-alec-torelli/This is my new podcast, The First Bet. What I'm going to be exploring with my guests is how you get conviction to make a decision to deploy capital or commit a significant amount of resources when theThu, 11 Jun 2026 15:54:28 GMTMartin Tobiashttps://incisive.vc/2026/06/09/surviving-softwaremageddon-how-to-invest-in-saas-when-1t-just-vanished/https://incisive.vc/2026/06/09/surviving-softwaremageddon-how-to-invest-in-saas-when-1t-just-vanished/May you live in interesting times. That old line was meant as a curse — the wish that you'd live through chaos instead of calm. Welcome to software in 2026.Tue, 09 Jun 2026 23:59:49 GMTMartin Tobiashttps://incisive.vc/2025/11/16/why-the-ai-application-layer-will-eat-infra-for-breakfast/https://incisive.vc/2025/11/16/why-the-ai-application-layer-will-eat-infra-for-breakfast/(And How to Profit Before the Buffet Closes)Sun, 16 Nov 2025 19:48:57 GMTMartin Tobiashttps://incisive.vc/2025/10/16/how-i-gain-conviction-in-early-stage-startups/https://incisive.vc/2025/10/16/how-i-gain-conviction-in-early-stage-startups/I'm a solo GP at Incisive, writing $250k-$500k checks Pre-Seed to support B2B founders. After 20 years of investing and over 300 investments, it is more clear than ever that pre-seed investing isn't aThu, 16 Oct 2025 13:49:27 GMTMartin Tobiashttps://incisive.vc/2025/10/09/%e2%9a%94%ef%b8%8f-the-resistance-the-invisible-force-every-founder-must-face/https://incisive.vc/2025/10/09/%e2%9a%94%ef%b8%8f-the-resistance-the-invisible-force-every-founder-must-face/Every founder I’ve ever backed has faced it — though few could name it.Thu, 09 Oct 2025 12:34:17 GMTMartin Tobiashttps://incisive.vc/2025/09/30/essentialsonly-my-30-days-of-stoic-october/https://incisive.vc/2025/09/30/essentialsonly-my-30-days-of-stoic-october/This October, I’m doing something simple, strict, and surprisingly hard: spending 30 days living with only the essentials. No extras. No indulgences. No mindless spending. I’m calling it #EssentialsOnTue, 30 Sep 2025 11:57:57 GMTMartin Tobiashttps://incisive.vc/2025/09/29/one-of-the-fastest-ways-to-torch-investor-trust-fuzzy-revenue-math/https://incisive.vc/2025/09/29/one-of-the-fastest-ways-to-torch-investor-trust-fuzzy-revenue-math/(A practical field-guide for founders who’d rather ship product than explain spreadsheets.)Mon, 29 Sep 2025 18:03:27 GMTMartin Tobiashttps://incisive.vc/2025/09/18/anatomy-of-a-baby-unicorn-how-pre%e2%80%91seed-startups-actually-break-out/https://incisive.vc/2025/09/18/anatomy-of-a-baby-unicorn-how-pre%e2%80%91seed-startups-actually-break-out/Insights from Martin Tobias (Incisive), Webinar for Founders, September 17, 2025.Fri, 19 Sep 2025 00:33:45 GMTMartin Tobiashttps://incisive.vc/2025/08/16/reducing-friction-at-scale-founder-one%e2%80%91pager/https://incisive.vc/2025/08/16/reducing-friction-at-scale-founder-one%e2%80%91pager/A one‑page template to frame your product as “deleting steps” in a painful B2B workflow.Sat, 16 Aug 2025 14:46:25 GMTMartin Tobiashttps://incisive.vc/2025/08/16/recap-what-is-product-market-fit-and-how-do-you-know-when-you-have-it/https://incisive.vc/2025/08/16/recap-what-is-product-market-fit-and-how-do-you-know-when-you-have-it/Watch the full broadcast through this link: What is Product Market Fit and how do you know when you have it?Sat, 16 Aug 2025 14:40:32 GMTMartin Tobiashttps://incisive.vc/2025/07/16/your-first-5-hires-will-make-or-break-your-startup-and-most-founders-get-it-dead-wrong/https://incisive.vc/2025/07/16/your-first-5-hires-will-make-or-break-your-startup-and-most-founders-get-it-dead-wrong/From someone who's funded 300+ B2B companies and seen every hiring disaster imaginableThu, 17 Jul 2025 02:21:49 GMTMartin Tobiashttps://incisive.vc/2025/06/24/recap-from-pre-seed-to-seed-in-less-than-9-months-with-abbas-khan-founder-of-civiq-iq/https://incisive.vc/2025/06/24/recap-from-pre-seed-to-seed-in-less-than-9-months-with-abbas-khan-founder-of-civiq-iq/Watch the full conversation here: From Pre-Seed to Seed in less than 9 MonthsTue, 24 Jun 2025 19:52:18 GMTMartin Tobiashttps://incisive.vc/2025/06/10/update-on-venture-graduation-rates/https://incisive.vc/2025/06/10/update-on-venture-graduation-rates/Current Conversion: Recent industry benchmarks indicate roughly half of U.S. startups that secure pre-seed funding go on to raise a seed round. Specifically, about 45–55% of pre-seed–backed companies Tue, 10 Jun 2025 13:30:36 GMTMartin Tobiashttps://incisive.vc/2025/06/04/recap-product-and-user-experience-how-to-make-a-cure-and-not-a-vitamin-webinar/https://incisive.vc/2025/06/04/recap-product-and-user-experience-how-to-make-a-cure-and-not-a-vitamin-webinar/You can watch the full conversation here: Product and User Experience, how to make a cure and not a vitamin with Greg RaizWed, 04 Jun 2025 18:48:21 GMTMartin Tobiashttps://incisive.vc/2025/06/04/with-ai-solve-for-the-previously-intractable/https://incisive.vc/2025/06/04/with-ai-solve-for-the-previously-intractable/Most technology innovations are incremental improvements—the next faster chip, the next bigger hard drive, a new feature for your CRM, a better email client, etc. Every now and then, something comes Wed, 04 Jun 2025 18:15:12 GMTMartin Tobiashttps://incisive.vc/2025/03/26/recap-where-is-the-value-in-ai-webinar/https://incisive.vc/2025/03/26/recap-where-is-the-value-in-ai-webinar/Watch the full broadcast here: Where is the value in AI?Wed, 26 Mar 2025 17:56:17 GMTMartin Tobiashttps://incisive.vc/2025/03/04/accouting-blunders-for-pre-seed-founders-to-watch-out-for/https://incisive.vc/2025/03/04/accouting-blunders-for-pre-seed-founders-to-watch-out-for/Accounting tends not to be a strong suit at pre-seed companies. It's okay if you own it and get better over time.Wed, 05 Mar 2025 00:11:02 GMTMartin Tobiashttps://incisive.vc/2025/02/04/recap-how-to-pick-your-first-angel-or-pre-seed-investors/https://incisive.vc/2025/02/04/recap-how-to-pick-your-first-angel-or-pre-seed-investors/Watch the full broadcast here: How to Pick your first Angel or Pre-Seed investorsTue, 04 Feb 2025 22:58:38 GMTMartin Tobiashttps://incisive.vc/2024/11/22/chat-gpt-would-be-terrible-at-pre-seed-investing-here-is-why/https://incisive.vc/2024/11/22/chat-gpt-would-be-terrible-at-pre-seed-investing-here-is-why/I have been a pre-seed software investor for 25 years, investing in over 250 companies.Sat, 23 Nov 2024 00:38:00 GMTMartin Tobiashttps://incisive.vc/2024/11/22/recap-the-importance-of-inflection-points-telling-a-compelling-why-now-story/https://incisive.vc/2024/11/22/recap-the-importance-of-inflection-points-telling-a-compelling-why-now-story/In the fast-paced world of venture capital and startups, understanding the significance of timing is often as crucial as the idea itself. In his engaging talk, Martin Tobias, General Partner of IncisiSat, 23 Nov 2024 00:02:37 GMTMartin Tobiashttps://incisive.vc/2024/08/15/what-does-venture-scale-really-mean/https://incisive.vc/2024/08/15/what-does-venture-scale-really-mean/A comment many founders hear is that their start-up may not be "venture scale." Ok, but what the hell does that mean?Thu, 15 Aug 2024 22:54:55 GMTMartin Tobiashttps://incisive.vc/2024/07/26/recap-of-red-flags-and-green-flags-for-pre-seed-vcs-a-conversation-with-martin-tobias-and-ihar-mahaniok/https://incisive.vc/2024/07/26/recap-of-red-flags-and-green-flags-for-pre-seed-vcs-a-conversation-with-martin-tobias-and-ihar-mahaniok/In a recent webinar, I had the pleasure of speaking with Ihar Iharouski, a fellow pre-seed or seed venture capitalist based in New York. As early-stage VCs, we delved into various aspects of venture cFri, 26 Jul 2024 18:37:18 GMTMartin Tobiashttps://incisive.vc/2024/07/26/recap-of-an-american-investing-in-latam-with-ali-jamal/https://incisive.vc/2024/07/26/recap-of-an-american-investing-in-latam-with-ali-jamal/In our latest discussion, I had the pleasure of speaking with Ali Jamal, a seasoned venture capitalist and founding partner at First Check Ventures. Known for his expertise in the Latin American markeFri, 26 Jul 2024 18:30:48 GMTMartin Tobiashttps://incisive.vc/2024/06/13/recap-of-how-i-lost-500m-and-still-won-lessons-from-a-ceo-and-a-vc/https://incisive.vc/2024/06/13/recap-of-how-i-lost-500m-and-still-won-lessons-from-a-ceo-and-a-vc/How I Lost $500M and Still Won: Lessons from a Serial Entrepreneur and Venture Capitalist Fri, 14 Jun 2024 03:39:46 GMTMartin Tobiashttps://incisive.vc/2024/05/23/ai-is-eating-b2b-software-in-a-good-way/https://incisive.vc/2024/05/23/ai-is-eating-b2b-software-in-a-good-way/This morning, I woke up remembering Archimedes: “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.”Thu, 23 May 2024 14:45:23 GMTMartin Tobiashttps://incisive.vc/2024/05/05/how-to-prepare-for-your-first-meeting-with-incisive-ventures/https://incisive.vc/2024/05/05/how-to-prepare-for-your-first-meeting-with-incisive-ventures/You received an email about your first pitch meeting with us.Sun, 05 May 2024 20:49:21 GMTMartin Tobiashttps://incisive.vc/2024/05/01/recap-of-an-american-investing-in-africa-a-conversation-with-bunmi-akinyemiju/https://incisive.vc/2024/05/01/recap-of-an-american-investing-in-africa-a-conversation-with-bunmi-akinyemiju/In April of 2024, I had a conversation with Bunmi Akinyemiju, GP at GreenHouse Capital who has been a long time venture investor and builder in the Africa ecosystem. We had a wide ranging discussion Wed, 01 May 2024 17:08:46 GMTMartin Tobiashttps://incisive.vc/2024/03/22/recap-of-an-american-investing-in-india-a-conversation-with-hershel-mehta/https://incisive.vc/2024/03/22/recap-of-an-american-investing-in-india-a-conversation-with-hershel-mehta/In March of 2024, I had an conversation with Hershel Mehta, GP at 2AM Ventures who I have co-invested often. I am also an LP in their fund as my strategy to be a US investor internationally is to parFri, 22 Mar 2024 18:29:21 GMTMartin Tobiashttps://incisive.vc/2024/02/19/recap-from-webinar-how-i-picked-6-unicorns-in-4-years/https://incisive.vc/2024/02/19/recap-from-webinar-how-i-picked-6-unicorns-in-4-years/On Feb. 15, 2024, I held a webinar with over 100 investors and founders to discuss my approach to identifying unicorn companies in the Pre-seed. The next day, Signalrank, a Series B venture investor Tue, 20 Feb 2024 05:27:18 GMTMartin Tobiashttps://incisive.vc/2024/02/12/thoughts-on-a-syndicate-strategy-for-venture-funds-sub-50m/https://incisive.vc/2024/02/12/thoughts-on-a-syndicate-strategy-for-venture-funds-sub-50m/When I started investing as an Angel, I rarely had the opportunity or capital to follow on and invest in future rounds. As a Venture Partner at Ignition Partners, I learned about pro-rata rights (theTue, 13 Feb 2024 01:29:12 GMTMartin Tobiashttps://incisive.vc/2024/01/19/recap-from-a-vc-and-a-poker-pro-walk-into-a-bar/https://incisive.vc/2024/01/19/recap-from-a-vc-and-a-poker-pro-walk-into-a-bar/Yesterday, Alec Torelli and I discussed the similarities and differences between Poker and early-stage Tech investing. Some interesting learnings.Fri, 19 Jan 2024 20:52:20 GMTMartin Tobiashttps://incisive.vc/2023/12/07/why-i-am-building-checksiwrote-com/https://incisive.vc/2023/12/07/why-i-am-building-checksiwrote-com/It all started with a frustration tweet:Thu, 07 Dec 2023 23:44:51 GMTMartin Tobiashttps://incisive.vc/2023/02/03/incisive-ventures-pre-seed-founder-reading-list/https://incisive.vc/2023/02/03/incisive-ventures-pre-seed-founder-reading-list/Pre-Seed, before you have nailed product/market fit, is typically one of the most overwhelming times for Founders. Founders are grappling with wearing many hats and lots of new tactical challenges (fFri, 03 Feb 2023 22:02:36 GMTMartin Tobiashttps://incisive.vc/2022/12/23/fundraising-stages-defined-angel-pre-seed-seed-series-a/https://incisive.vc/2022/12/23/fundraising-stages-defined-angel-pre-seed-seed-series-a/⚡ TLDR: “Pre-Seed” can mean many different things. Here is how Incisive Ventures defines Pre-Seed. MVP in the market for > 3 months, initial customer traction.Fri, 23 Dec 2022 22:01:29 GMTMartin Tobiashttps://incisive.vc/2022/08/23/martin-g-tobias-user-manual-0-10/https://incisive.vc/2022/08/23/martin-g-tobias-user-manual-0-10/My User ManualWed, 24 Aug 2022 01:05:29 GMTMartin Tobiashttps://incisive.vc/2022/03/22/the-future-of-laziness/https://incisive.vc/2022/03/22/the-future-of-laziness/In the start-up world, Laziness is a dirty word. Work till you drop: Lazy = Bad. As an early-stage investor, I could not disagree more. At Incisive Ventures, we are investing in the Future of LazinessWed, 23 Mar 2022 00:47:05 GMTMartin Tobiashttps://incisive.vc/2022/02/24/martin-talks-about-early-stage-investing-on-a-podcast/https://incisive.vc/2022/02/24/martin-talks-about-early-stage-investing-on-a-podcast/I caught up with the guys over at Sterling Coaching to talk about investing. Listen here.Thu, 24 Feb 2022 17:29:18 GMTMartin Tobiashttps://incisive.vc/2022/02/01/the-great-asset-repricing-again/https://incisive.vc/2022/02/01/the-great-asset-repricing-again/As the public markets have been flashing red lately, my email and DM inboxes have been crammed full of various forms of "What does this mean for early-stage venture investors?" 240 characters won't doTue, 01 Feb 2022 20:05:37 GMTMartin Tobiashttps://incisive.vc/2022/01/19/investing-in-day-one/https://incisive.vc/2022/01/19/investing-in-day-one/DayOne recently announced their $1M Pre-seed funding. I am pleased to participate. Here is the story of how I met the company and why I am VERY excited about what they are bringing to the world.Wed, 19 Jan 2022 21:51:31 GMTMartin Tobiashttps://incisive.vc/2021/11/11/investing-in-tradewell-app/https://incisive.vc/2021/11/11/investing-in-tradewell-app/One of the most powerful aspects of technology innovation built on inexpensive massive connectivity is its ability to democratize access to entire industries previously limited to the 1%. Private drivThu, 11 Nov 2021 19:29:55 GMTMartin Tobiashttps://incisive.vc/2021/10/26/investing-in-mango-sciences/https://incisive.vc/2021/10/26/investing-in-mango-sciences/Mango Sciences: Ensuring access to innovative, life-saving cancer care for everyone.Tue, 26 Oct 2021 20:54:45 GMTMartin Tobiashttps://incisive.vc/2021/09/18/investing-in-portside-aero/https://incisive.vc/2021/09/18/investing-in-portside-aero/Original Investment: April, 2021Sat, 18 Sep 2021 18:00:51 GMTMartin Tobiashttps://incisive.vc/2021/07/29/investing-in-ifuiwill/https://incisive.vc/2021/07/29/investing-in-ifuiwill/Every now and then a very smart guy who I have known a very long time calls me up with a crazy new idea they are working on. I love these calls and am humbled when they call me first. This happened a Fri, 30 Jul 2021 00:33:53 GMTMartin Tobiashttps://incisive.vc/2021/07/19/how-i-think-about-follow-on-investments/https://incisive.vc/2021/07/19/how-i-think-about-follow-on-investments/As an angel investor you invested in a company very early. They do well, you pat yourself on the back. Now they are raising more money. Fork meet road. To follow on or not to follow on, that is the quMon, 19 Jul 2021 15:04:50 GMTMartin Tobiashttps://incisive.vc/2021/07/01/investing-in-morpheus-xr/https://incisive.vc/2021/07/01/investing-in-morpheus-xr/VR/XR has created amazing fantasy worlds for individuals and gaming. I am not a gamer. I live in the real world and have lots of things to do in the here and now. I have often daydreamed about a killeThu, 01 Jul 2021 20:28:20 GMTMartin Tobiashttps://incisive.vc/2021/06/15/investing-in-sensate/https://incisive.vc/2021/06/15/investing-in-sensate/I don't invest in many consumer hardware companies. Every now and then I spend a lot of time with a CEO who is amazing, their product is damn good (I use it myself) and they growing so damn fast that Wed, 16 Jun 2021 04:37:45 GMTMartin Tobiashttps://incisive.vc/2021/06/15/investing-in-bizztm/https://incisive.vc/2021/06/15/investing-in-bizztm/I have looking for a way to invest in social commerce for a couple of years. A friend was an early investor in Mesho which recently became a Unicorn. He told me one of Meesho category leads had identiTue, 15 Jun 2021 07:36:06 GMTMartin Tobiashttps://incisive.vc/2021/06/03/investing-in-goodable-tv/https://incisive.vc/2021/06/03/investing-in-goodable-tv/Goodable.TV: Where good things happen. AKA Headspace for News.Thu, 03 Jun 2021 22:47:59 GMTMartin Tobiashttps://incisive.vc/2021/06/01/investing-in-unlu/https://incisive.vc/2021/06/01/investing-in-unlu/Unlu: Celebrity driven full stack learning and engagement platform.Tue, 01 Jun 2021 20:38:53 GMTMartin Tobiashttps://incisive.vc/2021/05/12/minimalist-ceo-update-for-investors/https://incisive.vc/2021/05/12/minimalist-ceo-update-for-investors/In my startup investment portfolio, I have found a strong positive correlation between CEOS that regularly communicate with investors and company performance. As a CEO myself when I felt "too busy" toWed, 12 May 2021 18:33:45 GMTMartin Tobiashttps://incisive.vc/2021/05/08/investing-in-otherside-ai/https://incisive.vc/2021/05/08/investing-in-otherside-ai/Investment ThesisSat, 08 May 2021 14:18:44 GMTMartin Tobiashttps://incisive.vc/2021/04/25/investing-in-fluent/https://incisive.vc/2021/04/25/investing-in-fluent/Fluent: Language immersion everywhere for everyone.Sun, 25 Apr 2021 17:44:58 GMTMartin Tobiashttps://incisive.vc/2021/04/10/investing-in-vega-cloud/https://incisive.vc/2021/04/10/investing-in-vega-cloud/The Cloud is simple to use and the early leaders (Amazon, Microsoft, Google, etc.) will take most of the economics in the Cloud.Sat, 10 Apr 2021 17:15:41 GMTMartin Tobiashttps://incisive.vc/2021/03/26/the-value-of-a-counterintuitive-thesis/https://incisive.vc/2021/03/26/the-value-of-a-counterintuitive-thesis/In order to beat the averages in any game, you have to disagree with the average opinion and be right. To get top decile investment returns as I have in angel investing for over 25 years, you must havFri, 26 Mar 2021 17:44:30 GMTMartin Tobiashttps://incisive.vc/2021/03/24/investing-in-katalyst-fit/https://incisive.vc/2021/03/24/investing-in-katalyst-fit/I am going to start this memo by admitting a mistake and a bit of luck.Wed, 24 Mar 2021 23:01:05 GMTMartin Tobiashttps://incisive.vc/2021/03/12/investing-in-tripp/https://incisive.vc/2021/03/12/investing-in-tripp/Tripp: Digital Therapeutic Platform for Mental Health and Emotional Wellbeing.Sat, 13 Mar 2021 01:55:15 GMTMartin Tobiashttps://incisive.vc/2020/12/23/the-goldilocks-stage/https://incisive.vc/2020/12/23/the-goldilocks-stage/Goldilocks: Adjective: "having or producing an optimal balance usually between two extremes."Wed, 23 Dec 2020 22:34:17 GMTMartin Tobiashttps://incisive.vc/2020/11/25/definition-of-probabilistic-terms/https://incisive.vc/2020/11/25/definition-of-probabilistic-terms/IV Probability terms decoder tableWed, 25 Nov 2020 21:17:04 GMTMartin Tobiashttps://incisive.vc/2020/11/17/announcing-iv-scout-program/https://incisive.vc/2020/11/17/announcing-iv-scout-program/International ScoutWed, 18 Nov 2020 01:00:31 GMTMartin Tobiashttps://incisive.vc/2020/11/16/talking-investing-in-stuff-that-matters/https://incisive.vc/2020/11/16/talking-investing-in-stuff-that-matters/Had fun talking start up investing with Todd on this podcast.Mon, 16 Nov 2020 22:08:59 GMTMartin Tobiashttps://incisive.vc/2020/11/07/incisive-ventures-is-upgrading-the-syndicate/https://incisive.vc/2020/11/07/incisive-ventures-is-upgrading-the-syndicate/Assassin's Creed SyndicateSat, 07 Nov 2020 23:27:32 GMTMartin Tobiashttps://incisive.vc/2020/11/07/announcing-iv-preferred-lp-program/https://incisive.vc/2020/11/07/announcing-iv-preferred-lp-program/For those investors who want to beat the crowds, today we are announcing our Preferred Limited Partner Program. Peter over at Unpopular Ventures runs a very good syndicate and I thank him for the insSat, 07 Nov 2020 22:20:31 GMTMartin Tobiashttps://incisive.vc/2020/10/27/the-incisive-deal-funnel/https://incisive.vc/2020/10/27/the-incisive-deal-funnel/From a firehose to a trickleWed, 28 Oct 2020 03:45:24 GMTMartin Tobiashttps://incisive.vc/2020/09/18/incisive-ventures-meta-themes/https://incisive.vc/2020/09/18/incisive-ventures-meta-themes/At Incisive Ventures, certain Themes drive WHERE we look for investments. The short answer is where we believe we have an ADVANTAGE. Some kind of information, insight, or talent advantage that is noFri, 18 Sep 2020 23:56:44 GMTMartin Tobias