Step Function Ventures — Contact Email, Phone & Team

Overview

Step Function Ventures is a Boston-based venture capital firm that invests in early-stage enterprise software companies across the United States and Europe. The firm focuses on sectors such as data and AI infrastructure, cybersecurity, and developer tools, aiming to support founders shaping the future of enterprise software. Step Function Ventures seeks to be the first money into companies that are building the next generation of enterprise infrastructure, providing both capital and strategic guidance to accelerate growth. The firm's investment strategy centers on identifying technical founders at the earliest stages and offering them the support, domain experience, and accessibility of a super angel. Step Function Ventures emphasizes a hands-on approach, leveraging a well-connected network to provide introductions to potential customers, candidates, and investors. This approach is designed to help founders achieve significant milestones and scale their businesses effectively. Founded in 2022, Step Function Ventures is led by Founder and General Partner Will Lehmann, who has a decade of experience investing in early-stage enterprise software companies. Prior to starting Step Function Ventures, Lehmann was a Partner at Bain Capital Ventures, where he focused on early-stage investments in enterprise software. The firm's first fund, Step Function Ventures Fund I, was launched in July 2023, with a fund size that is currently undisclosed. The firm is actively investing and has made at least one investment in 2024, with a reported average round size of $2 million. The firm's portfolio includes companies such as Proofs, which raised a $2 million seed round in June 2024, and Zephyr Cloud IO, which raised a seed round in April 2024. Step Function Ventures continues to seek opportunities to invest in innovative enterprise software companies across its target regions.

Investment Focus

Technical founders building enterprise software
Early-stage companies in data and AI infrastructure, cybersecurity, and developer tools
Companies based in the United States and Europe

Portfolio Companies

ProofsZephyr Cloud IO

Reach Step Function Ventures directly

Verified work email, phone and LinkedIn for the full team — one spreadsheet, one payment, yours to keep.

Unlock full contacts →

Frequently asked questions about Step Function Ventures

What sectors does Step Function Ventures invest in?

Step Function Ventures invests in Technology, Software, Artificial Intelligence, Cybersecurity and Developer Tools, and is based in Massachusetts, United States. Step Function Ventures is listed as a venture capital in the ConnectSafely investor database.