Acorn Ventures

Acorn Ventures is a Bellevue, Washington-based early-stage venture capital firm founded in 1991 by Rufus W. Lumry following his tenure as Executive Vice President and CFO of McCaw Cellular Communications, which became AT&T Wireless. The firm focuses on finding, funding, and nurturing early-stage companies that present extraordinary opportunities to make industry-changing leaps in technology and applications. The investment team brings decades of combined experience evaluating proprietary technology and backing management teams with proven solutions to hard problems. Checks range from $500,000 to $3 million at seed and Series A, with the firm leading rounds. The portfolio of 19 companies has produced 2 IPOs and 6 acquisitions. Remitly, the international remittance platform, went public on NASDAQ in September 2021 at a market cap of $6.94 billion. Coinstar, the automated coin exchange network, also listed on NASDAQ. Additional portfolio companies include Emerson and Airbiquity, the latter acquired by Karma Automotive in February 2024. The portfolio spans software, fintech, AI, transportation, and hardware sectors. Acorn Ventures maintains a five-person team including two partners and one principal, a lean structure that enables close engagement with each portfolio company through its critical early stages. The firm's Pacific Northwest base provides strong access to the technology ecosystems of Seattle and the broader region, while its investment mandate spans the broader US market. The firm's three-decade track record reflects a consistent focus on companies with deep technical differentiation rather than business model innovation.