Analog Ventures Research
Investment Thesis
Analog Ventures describes itself as an idea-stage venture capital firm that writes the first check to startups reshaping foundational industries, from healthcare to financial services, energy, and the way we work. The firm usually invests before there is revenue and sometimes before there is a company. It likes founders building in complex or regulated industries with outrageously ambitious plans, and backs teams that move quickly and with conviction. The name reflects a belief that great companies are built around people first and technology second. The firm was formerly known as J Ventures, per the January 2026 Mia Labs Series A announcement.
Stage Focus
Pre-seed and inception-stage seed. The firm positions itself as the first institutional check, often before incorporation or revenue. Third-party directories list the stage focus as Pre-Seed / Inception and Seed.
Check Size
Third-party directories (findfunding.vc, RaiseTalks) report first checks of roughly $500K to $1.5M, with a wider range of $500K to $3M including follow-ons, and a target ownership of 7 to 10 percent. The firm's own site does not state check size, so confidence is moderate.
Lead Tendency
Mostly leads the first round. The site says it writes the first check, and founder testimonials call Analog the lead investor founders want. Directories list the firm as mostly lead.
Recent Activity
- Mia Labs raised a $20M Series A in January 2026 (led by Permanent Capital Ventures); Analog Ventures participated as an earlier investor.
- Ramp, an Analog first-check company, completed a $1.85B round at a $60B valuation in October 2026 (Bloomberg).
- Bbot (acquired by DoorDash), Brighthire (acquired by Zoom) and Safebase (acquired by Drata) are listed as exits on the portfolio page.
- John Nordin writes the Analog Thinking Substack, with a recent essay on why AI founders who come from industry matter.
Portfolio Highlights
The site lists companies it backed from day one: Bbot (acq. DoorDash), Bolo AI, Brighthire (acq. Zoom), Develop Health, Mia Labs, Pillar, Ramp, Ro, Safebase (acq. Drata), Taxwire, Valid and Vardera. Founder testimonials also name Civic, Musubi, Nuvo, Filed and Concentro. Ramp and Ro are the largest outcomes so far.
Team
- John Nordin, Co-founder and General Partner, San Francisco; Harvard Business School.
- Lenny Langenscheidt, General Partner, New York.
- Anthony Ridgley, Investor, San Francisco.
- Joshua Jacobson, Venture Partner.
- Nate Snow, COO/CFO.
- Advisors: Tim Douglas (tech advisor), Karim Atiyeh (CTO, Ramp), Z Reitano (CEO, Ro).
Decision Process
A small partnership of two general partners plus an investor. Founders describe fast decisions at the company formation stage. No formal committee is disclosed.
Founder Preferences
Founders and early-stage operators with industry depth, building in complex or regulated industries, moving quickly and with conviction. John Nordin's writing argues for AI founders who come from industry.
Geographic Focus
US-based, with offices or partners in San Francisco and New York. Portfolio companies are across the US (for example Mia Labs in Austin). Headquarters is listed as New York by directories; the site names San Francisco and New York as team locations.
Gaps
Fund size and AUM are not disclosed. Check size comes from third-party directories. The portfolio page has a Show more control that did not expand in the read, so the full portfolio may be larger than the twelve companies listed. A different firm, Analog Capital in Singapore, shares a similar name and was excluded.