Organization · Venture Capital
Commerce Ventures
Commerce Ventures is an early-stage venture capital firm based in San Francisco, focusing on technology innovations in the retail and financial services sectors. The firm leverages a strategic LP network to enhance portfolio value.
Overview
What Commerce Ventures does
What Commerce Ventures is
Commerce Ventures is an early-stage venture capital firm based in San Francisco, focusing on technology innovations in the retail and financial services sectors. The firm leverages a strategic LP network to enhance portfolio value.
How it participates in the startup ecosystem
The current public profile supports funder and publisher capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Venture Capital
- Founded
- Founded in 2013
- Approximate age
- About 13 years
- Structured capabilities
- Funder · Publisher
- Last reviewed
- March 27, 2026
Official channels
Find Commerce Ventures elsewhere
Open the official website or a supported primary organization account.
Capability profile
Commerce Ventures as a funder
Investment thesis
Commerce Ventures focuses on early-stage investments in the commerce sector, leveraging a strategic LP network of banks, retailers, and insurers to create value and generate returns.
Focus narrative
Commerce Ventures specializes in investing in early-stage companies within the commerce sector, particularly in retail, payments, banking, and insurance. The firm employs a thematic approach to investing, focusing on areas such as tokenizing value through stablecoins, AI-driven commerce, and modernizing commercial lending. The firm typically invests in Seed and Series A rounds, favoring companies with market-ready solutions and early customer adoption.
Value beyond capital
Commerce Ventures adds value to its portfolio companies through its extensive network of strategic LPs, which include major banks, retailers, and insurers. This network not only provides capital but also serves as customers and partners, facilitating growth and market entry for portfolio companies.
Terms and economics
- Typical check
- $5,000,000–$15,900,000
- Sweet spot
- $10,000,000
Focus and fit
- Stages
- Seed · Series A · Series B
- Regions
- United States
Availability
- Currently deploying
- Yes
Portfolio and track record
- Recorded portfolio count
- 40
- Recorded notable exits
- Bill.com, Vestwell, and MX
Portfolio context
Notable portfolio companies include Narvar, which provides a comprehensive shopping experience for retailers; Marqeta, focusing on modernizing payment systems; Vestwell, offering a digital platform for retirement plans; Snapsheet, streamlining insurance claims processing; Bill.com, innovating back-office operations for businesses; Forter, providing fraud protection services; and InAuth, delivering device intelligence for mobile environments. The active portfolio consists of over 40 companies ranging from early ideas to established market leaders.
Capability profile
Commerce Ventures as a publisher
Editorial focus
Commerce Ventures is a venture capital firm that specializes in early-stage investments within the commerce sector, particularly focusing on retail, payments, banking, and insurance. The firm employs a thematic approach, investing in areas such as tokenizing value through stablecoins, AI-driven commerce, and modernizing commercial lending. They typically invest in Seed and Series A rounds, favoring companies with market-ready solutions and early customer adoption.
Audience value
Commerce Ventures provides a unique value proposition by leveraging its extensive network of strategic LPs who are also customers and partners of portfolio companies. This model enhances the potential for success and growth for the startups they invest in.
Format and cadence
- Content formats
- podcast and newsletter
- Primary platform
- Website
Availability
- Guest pitch state
- Not currently accepting
Audience and focus
- Audience
- Founders · Investors
- Regions
- United States
Flagship work and coverage
Flagship properties
Commerce Ventures has a notable portfolio that includes companies like Narvar, Marqeta, Vestwell, Snapsheet, Bill.com, and Forter. The firm has made a total of 139 investments, with over 40 active portfolio companies ranging from early ideas to established market leaders.
Notable coverage
Commerce Ventures has been recognized for its strong strategic LP network, which includes major US banks, retailers, and insurers. The firm has achieved significant milestones, including 6 unicorns, 3 IPOs, and 19 acquisitions, with Bill.com being a flagship return.
Common questions
What to know about Commerce Ventures
Upseed classifies Commerce Ventures under the Venture Capital organization type. Its current public profile includes funder and publisher capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
March 27, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.