Organization · Micro VC
Refactor
Refactor is an early-stage venture capital firm based in Burlingame, California, focusing on seed-stage hard tech companies. The firm invests in sectors such as aerospace, biotech, and energy, aiming to address significant human challenges through transformative technologies.
Overview
What Refactor does
What Refactor is
Refactor is an early-stage venture capital firm based in Burlingame, California, focusing on seed-stage hard tech companies. The firm invests in sectors such as aerospace, biotech, and energy, aiming to address significant human challenges through transformative technologies.
How it participates in the startup ecosystem
The current public profile supports funder 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
- Micro VC
- Founded
- Founded in 2016
- Approximate age
- About 10 years
- Structured capabilities
- Funder
- Last reviewed
- May 5, 2026
Official channels
Find Refactor elsewhere
Open the official website or a supported primary organization account.
Capability profile
Refactor as a funder
Investment thesis
Refactor backs founders refactoring the real world, focusing on seed-stage hard tech companies commercializing real science across aerospace, energy, biology, and physical AI.
Focus narrative
Refactor invests primarily in seed-stage hard tech companies, typically leading or co-leading funding rounds with check sizes ranging from $1 million to $2 million. The firm has raised four funds totaling $50 million, with its current fund launched in July 2024. Refactor's investment strategy is centered on the belief that the commercialization of real science is underfunded compared to software ventures, and it seeks to back innovative founders in this space.
Value beyond capital
Refactor offers direct access to its founding partner, Zal Bilimoria, who brings extensive experience from his previous roles at Andreessen Horowitz and major tech companies. This solo GP structure ensures that portfolio companies receive focused support and quick decision-making. Refactor emphasizes building strong relationships with founders and providing strategic guidance tailored to the unique challenges of hard tech ventures.
Terms and economics
- Typical check
- $1,000,000–$2,000,000
Focus and fit
- Stages
- Pre-seed · Seed
- Regions
- United States
Availability
- Currently deploying
- Yes
Portfolio and track record
- Recorded portfolio count
- 97
- Recorded notable exits
- Coinbase and Clover
Portfolio context
Refactor's portfolio includes notable companies such as: Astranis: Builds and operates micro GEO satellites. 64x: Focuses on cell and gene therapy manufacturing. Gencove: Specializes in low-pass sequencing for genomic discovery. Loyal: Develops products for pet health. Octant: Creates a novel drug discovery platform. YourChoice: Works on a male contraceptive pill. Checkerspot: Develops sustainable, algae-based materials. Causal: Builds AI physics models for weather prediction. PathAI: Advances intelligent pathology in medicine. Headspace: Provides mindfulness training globally.
Common questions
What to know about Refactor
Upseed classifies Refactor under the Micro VC organization type. Its current public profile includes funder 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
May 5, 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.