David Rosenthal is a co-founder and General Partner at Wave Capital. See contact routes.
David Rosenthal is a co-founder and General Partner at Wave Capital, a San Francisco-based venture firm he launched in 2017 after serving as a principal at Madrona Venture Group and working in data science at Airbnb. He leads the firm’s early-stage investment thesis, which focuses exclusively on two-sided marketplace startups across consumer and enterprise sectors, primarily in the United States. Wave Capital typically makes seed-stage investments with a historical average check size of approximately $3.3 million and often acts as a lead investor in its concentrated portfolio of no more than four companies per year. Notable portfolio companies include Locale, a food and grocery delivery marketplace; Camus Energy, which manages renewable energy systems; and Alma, a platform for investing in non-profits. Rosenthal is also the San Francisco-based co-host of the widely respected Acquired podcast, where he publishes detailed public analysis on venture capital history and strategy. His distinctive point of view centers on identifying “stalled markets” and backing founders who address structural gaps in marketplace dynamics.
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