Hi. We’re Unruly Capital.

We are a small venture capital firm of three people, Stefano, Francesco and Francesca, investing out of our second, $30M fund.

We have all of our data open to the public: we invest $692.7K on average (min $379.1K, max $1.15M), at pre-seed and seed, anywhere in the world. Our last deal was Stealth, where we invested $506.8K, in July 2026.

We’re known for investing in the crazy before it’s normal. We’ve invested in wireless energy, robotic pills, open-ocean energy storage, automated protein testing, robot-made clay homes, sperm sorting and psychedelics.

We saw the shift from bits to atoms coming in 2018, and went all in. But now that deeptech has gone fully mainstream, we’re finding it more intellectually (and hopefully financially) rewarding to think about something even bigger: where society is heading, and how it will adapt to a post-AI world.

We have some strong beliefs not many other funds will share:

• nation states are going bankrupt and are not serving their citizens anymore. We think there will be many interesting alternatives both to state-run services, as well as to the states themselves, and that’s why we look for New Sovereigns.
• demographic collapse in the west is the #1 problem of our age, and will be the most impactful trend of the next few years. We will add 1B people over 65 years of age in the next 30 years. That’s why we run the Depopulation Trade.
• extremely low communication costs coupled with the digitization of intellectual property in an environment with rising global wages and increased geopolitical risk, directly leads to decentralized, electrified and automated supply chains, often leveraging new materials, in short: the Decentralization of the Real World.
• biology is the next big platform, we are almost at the point where we can program cells like transistors, and completely reimagine what life itself can be like: we are entering the Bio Age.

You can learn more about why we do what we do by reading our manifesto.

We’re always looking for founders driven by audacity, urgency, agency and consequence; if that is you, or if you have a thesis we should be looking at, write to us.

Stefano has made more than 200 investments in his career, with six 100x returners, including the pre-seeds of Replit and Morpho. We’ve coinvested with A16Z, 8VC, Box Group, Collab Fund, Exor, General Catalyst, Initialized, Lightspeed, Lowercarbon, the NATO Innovation Fund and Y Combinator, and many more. We are happy to be the smallest check on a cap table, and the largest first believers.