Steamwork Ventures

Steamwork Ventures is a Los Angeles-based early-stage venture firm founded in 2021, operating a roughly $50M fund (Steamwork Ventures Fund I). It backs experienced teams building connected solutions that positively impact health, wealth or the climate, and is especially drawn to companies with the potential for 'triple revenue streams' across a hardware device, a software subscription and data. Preferred sectors are fintech, healthtech, climatetech, IoT and B2B/B2C SaaS, with a stated focus on mature seed-stage SaaS companies pursued through its 'Confirm and Return' strategy. Check sizes range from $50K to $5M with a sweet spot around $500K, and the firm typically invests at pre-seed and seed as a co-investor. Its concentrated portfolio of roughly five companies includes Remmie Health, which makes FDA-approved smart devices and a telemedicine app for ENT and upper-respiratory monitoring; Telebionix, a maker of smart medical devices for at-home vital-sign tracking; and Olvin, a business analytics platform for the beverage industry. Its most recent recorded investment was in Remmie Health on March 23, 2023. The firm was founded by Tim Arnold and Marshall Smith, who serve as co-founders and General Partners, with Tatiana Mulry also a General Partner; the team is small, around three people. Steamwork Ventures combines a disciplined, concentrated portfolio approach with a thesis built around connected hardware-plus-software businesses serving health, wealth and climate outcomes.