Inception Capital

We partner with founders at the inception stage of their venture

About the firm

We back EXPAT founders building for emerging markets

Founders trained at the global frontier (the US, China, Europe) who choose to build where the opportunity is largest and the competition thinnest: LatAm and SEA

World-class founders, at emerging-market prices. We write the first check at the inception window, before consensus arrives

Stage
Pre-seed → Seed
Focus
First check
Markets
LatAm · SEA

General Partner

David
Gan

Founding General Partner

Operator · Investor · Globalist

LinkedIn ↗
18.2x
MOIC¹
11x
DPI¹
70+
Countries
200+
Angel bets

Huobi Labs · Qiming (Bilibili, Mobike, Musical.ly) · Morgan Stanley · Founder, exited

¹ Huobi Labs track record, as of 09/30/2025, unaudited.

David Gan

Limited Partners

Backed by the operators who shaped their categories

Institutions

Animoca Brands
Brevan Howard
Bybit
DCG
Galaxy
Mirana
Pershing Square
The Brooker Group

Individuals

Bill Ackman

Founder @ Pershing Square

Raj Gokal

Founder @ Solana

Garry Tan

Founder @ Y-Combinator

Andrew Kang

Partner @ Mechanism Cap

The Chainsmokers

Founders @ Mantis VC

Newsletter

Join our community of operators, founders, and allocators