Basis Set Ventures

Basis Set Builders, LLC
Basis Set
Company typePrivate
IndustryVenture capital
FoundedJune 23, 2017 (2017-06-23)
FounderLan Xuezhao
Headquarters
San Francisco, California
,
United States
AUMUS$850 million (2026)
Number of employees
10 (2026) 
Websitewww.basisset.com

Basis Set Ventures is an American venture capital firm that was one of the earliest to specialize in investing in early-stage startups building with artificial intelligence.[1][2] The firm is based in San Francisco, California.[3] As of 2026, the firm had $850 million in assets under management.[4]

History

Basis Set Ventures was founded in 2017 by Lan Xuezhao. Lan previously led Corporate Development at Dropbox and advised technology clients at McKinsey & Company.[5] Lan is a founder and angel investor in companies including Scale AI.[6][7][8] She has a M.A. in Statistics and PhD in psychology from the University of Michigan.[9]

Basis Set Ventures announced its first fund in August 2017.[10][3] The firm announced its $165M second fund in April 2021 and its $185M third fund in February 2024. [11][12] Basis Set's latest $250M Fund IV was announced in January 2026.[13] While Basis Set's LPs have not been disclosed, Foundry and Melinda French Gates’ Pivotal Ventures have both been publicly named as investors in the fund.[14]

Notable investments

Technology and research in investment strategy

Basis Set Ventures leverages machine learning and proprietary software to support investment sourcing and analysis.[3]

The firm conducts research on applying large-scale data and AI models to venture decision-making, including studies using large language models (LLMs) to predict startup success and explore founder psychology.[23][24]

References

  1. ^ Chernova, Yuliya (2026-01-26). "Exclusive | Basis Set Ventures Bet on AI Before Other Firms. Now It Has Raised a $250 Million Fourth Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-01-26.
  2. ^ "Basis Set". www.basisset.com. Retrieved 2025-04-28.
  3. ^ a b c Chernova, Yuliya (2021-04-26). "Basis Set Ventures Gives Up the Office as It Raises $165 Million Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-04-28.
  4. ^ "SEC FORM D". www.sec.gov. Retrieved 2025-04-28.
  5. ^ Mannes, John (2017-08-31). "Basis Set Ventures gets real to get to the heart of AI startups". TechCrunch. Retrieved 2025-07-04.
  6. ^ "To Thrive in Midwest, Investors Shouldn't Copy Silicon Valley". The Information. Retrieved 2025-04-28.
  7. ^ Chen, Te-Ping (2020-09-29). "Women Founders of AI Startups Take Aim at Gender Bias". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-07-04.
  8. ^ Renbarger, Madeline. "Exclusive: Basis Set Raises $185 Million Third Fund, Doubling Down on AI & Automation". www.newcomer.co. Retrieved 2025-07-04.
  9. ^ uomsi. "Two new members appointed to UMSI Advisory Board | umsi". www.si.umich.edu. Retrieved 2025-04-28.
  10. ^ Konrad, Alex. "This Machine Learning-Focused VC Firm Just Added A Third Woman Investment Partner". Forbes. Retrieved 2025-07-04.
  11. ^ Shieber, Jonathan (2021-04-22). "At Basis Set Ventures, merging venture capital and software development yields a $165 million new fund". TechCrunch. Retrieved 2025-04-28.
  12. ^ Renbarger, Madeline. "Exclusive: Basis Set Raises $185 Million Third Fund, Doubling Down on AI & Automation". www.newcomer.co. Retrieved 2025-04-28.
  13. ^ Chernova, Yuliya (2026-01-26). "Exclusive | Basis Set Ventures Bet on AI Before Other Firms. Now It Has Raised a $250 Million Fourth Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2026-01-26.
  14. ^ Renbarger, Madeline. "Exclusive: Basis Set Raises $185 Million Third Fund, Doubling Down on AI & Automation". www.newcomer.co. Retrieved 2025-04-29.
  15. ^ Crook, Jordan (2020-10-12). "Quince launches out of beta with new 'manufacturer-to-customer' model". TechCrunch. Retrieved 2025-07-04.
  16. ^ Bergman, Ben. "44 of the most promising AI startups of 2024, according to top VCs". Business Insider. Retrieved 2025-09-11.
  17. ^ Butcher, Mike (2024-06-18). "CuspAI raises $30M to create a GenAI-driven search engine for new materials". TechCrunch. Retrieved 2025-07-04.
  18. ^ Forristal, Lauren (2025-08-08). "Former Googlers' AI startup OpenArt now creates 'brain rot' videos in just one click". TechCrunch. Retrieved 2025-09-15.
  19. ^ Miller, Ron (2021-03-10). "DataGrail snares $30M Series B to help deal with privacy regulations". TechCrunch. Retrieved 2025-09-15.
  20. ^ Renbarger, Madeline. "Exclusive: Basis Set Raises $185 Million Third Fund, Doubling Down on AI & Automation". www.newcomer.co. Retrieved 2025-07-04.
  21. ^ Heater, Brian (2021-05-03). "Path Robotics raises $56M Series B for automated welding". TechCrunch. Retrieved 2025-07-04.
  22. ^ Kamps, Haje Jan (2022-06-07). "Introducing Ergeon, a startup that builds fences". TechCrunch. Retrieved 2025-07-04.
  23. ^ Palazzolo, Stephanie. "The 13 top VC firms dedicated to investing in artificial intelligence and machine learning that founders should know". Business Insider. Retrieved 2025-07-04.
  24. ^ Walker, Rob (2020-01-06). "How to Become a Successful Founder in 2020". Marker. Retrieved 2025-04-28.
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