PROOF

PROOF is a venture capital firm founded in 2015 and based in Reston, Virginia, with a unique approach to investing. The firm specializes in pro-rata rights investments, meaning they take advantage of opportunities to invest in later rounds of top-performing companies originally backed by early-stage VCs. By leveraging these pro-rata rights, PROOF ensures that early investors stay involved in their best companies while securing access to high-growth businesses for themselves. Their portfolio spans a wide array of industries, including fintech, enterprise software, healthtech, and gaming. Notable investments include companies like ICON, which uses 3D printing for affordable housing, Jackpocket, a mobile lottery app, and Dragos, a leader in industrial cybersecurity. PROOF's investment approach is industry-agnostic, allowing them to back some of the most promising companies across sectors like consumer products, enterprise solutions, and digital health. The firm is led by co-founders John Backus and Thanasis Delistathis, both of whom bring deep expertise in venture capital and finance. PROOF's strategy has been successful, with the firm raising $135 million for its third fund in 2023. Their goal is to build a "greatest hits" portfolio, with a focus on ensuring that the majority of their investments contribute meaningfully to returns, flipping the traditional VC model.