Paul Johnson
General Partner
Founder and CEO of Lemonaid Health, acquired by 23andMe for $400M in 2021. Runs Flex full-time.
About Flex Capital
Flex Capital is a seed-stage venture capital firm based in San Francisco. Founded in 2017, the firm is run by founders who have built and sold their own companies: the founding CEOs of LiveRamp, BrightRoll, Lemonaid Health, SafeGraph, and Pipedream. Flex manages more than $225 million and writes first checks of $500K to $2M.
Firm facts
- Legal name
- Flex Capital Management, L.L.C.
- Founded
- 2017
- Headquarters
- 595 Pacific Avenue, 4th Floor,
San Francisco, CA 94133 - Assets under management
- $225M+
- Stage
- Seed
- First check
- $500K to $2M
- Contact
- info@flexcapital.com
General Partners
Auren Hoffman
General Partner
Founding CEO of LiveRamp (NYSE: RAMP) and Chairman of SafeGraph.
Tod Sacerdoti
General Partner
Founder and CEO of Pipedream (acquired by Workday, 2025) and BrightRoll ($640M to Yahoo!, 2014).
Rajal Patel
General Partner
Joined Flex in 2022; investments include CodeRabbit, Mercury, Perplexity, Protege, Tailscale, and Toma.
How we work
Our operators are on call: when you call, you reach people who have built and sold companies. We pledge our voting shares back to founders, so you stay in control. We reserve capital to support our companies in subsequent rounds. We don't take board seats unless the founder wants one.