Geodesic Capital Research
Investment Thesis
Geodesic Capital is a multi-stage venture capital firm founded in 2015 by former U.S. Ambassador to Japan John Roos. The firm's core thesis is built around bridging Silicon Valley and Japan — identifying transformative technology companies and helping them succeed in the Japanese market, which the firm views as one of the world's most important and most strategically underserved markets for U.S. tech companies.
Geodesic operates two distinct investment tracks:
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Flagship Growth Fund: Invests in multi-stage, globally minded technology founders building companies that can win the Japanese and broader Asian markets. Japan market engagement is not required at investment time, but Geodesic believes globally minded companies must eventually win Japan and is uniquely positioned to help.
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Geodesic Alliance Fund: Launched in 2025 with a $250M first close, this early-stage fund backs transformative deep tech companies in space, maritime, power and energy, and autonomous systems — with particular emphasis on strengthening the U.S.-Japan alliance and Allied nation collaboration.
Sector Focus
Geodesic's portfolio spans multiple technology sectors:
- Enterprise Software and Infrastructure: Their largest segment — cloud security (Netskope), data infrastructure (Databricks, ClickHouse, Confluent), DevOps (HashiCorp, JFrog, Harness), observability (Chronosphere), developer platforms (Vercel, SourceGraph)
- AI and Machine Learning: Databricks, Scale AI, Sakana AI, Writer, Together AI, Forethought, Glean, AppZen, FieldGuide, Hightouch, and many others
- Fintech and Payments: Marqeta, MX, Sardine, TRM Labs, Altruist, Pilot, Kin, Ladder, Nova Credit, Clearcover
- Cybersecurity: Netskope, Island, Tanium, Pindrop Security, CyCognito, Snyk Security, Traceable
- Deep Tech, Defense, and Space (Alliance Fund): Katalyst Space, Saronic, Vast, Portal Space, Vatn Systems, Phoenix Tailings, Mueon, Firestorm, Grid Aero, Smack
- Healthcare: Transcarent, Viz.ai
- Consumer (legacy): Airbnb, Snap, Uber
Stage Focus
Geodesic operates across two tracks with different stage profiles:
- Flagship funds: Multi-stage growth investors, primarily Series B through late-stage and pre-IPO
- Alliance Fund ($250M first close, 2025): Early-stage focus, Seed through Series A in deep tech and national security
Check Size
Estimated check sizes vary by fund track. The flagship growth funds deploy roughly $10M-$50M per investment at Series B and beyond. The Alliance Fund likely deploys smaller initial checks at Seed and Series A stage. Confidence in these estimates is moderate given limited public disclosure.
Lead Tendency
Geodesic both leads and participates in rounds depending on the situation. They led the Katalyst Space Seed-2 round. In the flagship growth fund, they often co-invest alongside top-tier VCs as significant financial backers combined with unique Japan market access value-add. Overall tendency is both leading and following across their portfolio.
Recent Activity
Geodesic is actively deploying from multiple active funds:
- June 2025: First close of the Geodesic Alliance Fund at $250M, focused on U.S.-Japan alliance and deep tech, defense, and space startups
- January 2024: Invested in Sakana AI, the Tokyo-based generative AI research company founded by former Google Brain researchers David Ha and Llion Jones
- 2025-2026: Continued active investment in AI infrastructure, space, and defense tech including Together AI (Series C, June 2026) and Katalyst Space (led Seed-2 round)
- February 2026: Hosted Geodesic Forum 2026 in Tokyo (February 17-19), gathering 17 Silicon Valley companies and 1,000+ Japanese attendees from approximately 100 Japanese companies
- September 2025: Celebrated 10-year anniversary with approximately $1 billion in AUM across 5 funds
Portfolio Highlights
Geodesic's portfolio includes 100+ companies. Notable highlights include:
Exits and Public Companies:
- Duo Security (acquired by Cisco)
- Looker (acquired by Google)
- Instart (acquired by Akamai)
- JFrog (Nasdaq: FROG, IPO 2020)
- Marqeta (Nasdaq: MQ, IPO 2021)
- UiPath (NYSE: PATH, IPO 2021)
Active Marquee Investments:
- Databricks — AI and data lakehouse platform, strong Japan operations
- Figma — design platform with Japan team and growing market presence
- Netskope — cloud security with Japan as one of fastest-growing regions
- Scale AI — AI data platform
- Vercel — web deployment platform with Japan team in Osaka and Tokyo
- Sakana AI — Tokyo-based generative AI lab by former Google Brain researchers
- Together AI — enterprise open-source AI platform
- Writer — enterprise AI for Fortune 500 companies
- Island — enterprise browser for secure work
- Glean — enterprise AI search and knowledge platform
Forbes Cloud 100: 9 portfolio companies made the 2024 Cloud 100 list; also represented in 2025 Cloud 100
Team
- John Roos, Founding Partner — Former U.S. Ambassador to Japan (2009-2013); previously CEO and Senior Partner of Wilson Sonsini Goodrich and Rosati; board member at Salesforce; awarded the Grand Cordon of the Order of the Rising Sun in 2022
- Jon Rezneck, Partner, Head of Investment Team, COO — Former investment banker at Greenhill and Co. and JP Morgan; fluent in Japanese; Wharton MBA, Harvard BA in Economics and East Asian Studies
- Matt Fuller, Partner — Former U.S. diplomat with 8 years in the Foreign Service including White House NSC; leads Investor Relations and fundraising
- Susie Roos, Partner, CAO — Former employment attorney (34-year career); co-founder of TOMODACHI Initiative; Board of Directors for Asia Society of Northern California
- Tom Gillespie, Partner, Head of Alliance Fund — Former Managing Partner at In-Q-Tel (20 years); led 20+ space tech investments at IQT; Wharton MBA, Stanford AB
- Suzanne Basalla, Partner, Alliance Fund — Former President and CEO of U.S.-Japan Council; Naval officer with assignments in Japan and Pentagon; former Chief of Staff at Toyota Research Institute
- Brent Wu, Partner — Investor Relations; former Director of BD at Kespry; MIT Sloan MBA; CFA Charterholder
- Arvind Ayyala, Partner — Focus on enterprise software, fintech, healthcare; formerly co-led North American growth investments at EDBI (Singapore)
- Divya Sudhakar, Partner — Enterprise software; formerly at Intel Capital and In-Q-Tel; Harvard Business School MBA
- Neb Mela, Partner — Deep tech investments including AI/CV, robotics, manufacturing, energy; formerly at Intel Capital and Tishman Speyer Ventures; Kauffman Fellow
- Rayfe Gaspar-Asaoka, Partner, Alliance Fund — AI, space, cybersecurity, autonomy, dual-use deep tech; formerly Partner at Canaan; ex-Raytheon electrical engineer; Kauffman Fellow
- Will Horyn, Principal — Enterprise software sourcing and execution; formerly at Cisco Ventures
- Marcus Otsuji, Country Manager, Geodesic Japan — 20+ years IT sales and BD leadership in Japan; former Apple Japan, Omniture Japan
Decision Process
Geodesic operates with a partnership model involving multiple investment professionals. The firm has two distinct tracks — the flagship growth fund led by Jon Rezneck's investment team, and the Alliance Fund led by Tom Gillespie and Rayfe Gaspar-Asaoka. Investment decisions involve relevant partner specialists depending on sector and fund track.
Geographic Focus
Primary focus is on U.S. companies with a unique Japan market access component across all investments. The firm has offices in Silicon Valley, Tokyo, and Washington DC. The Alliance Fund focuses on companies that strengthen the U.S.-Japan alliance. Asian markets beyond Japan are also a secondary focus.
AUM and Fund History
- Total AUM: Approximately $1 billion across 5 funds as of September 2025
- Fund I (2016): $335M — with investors including Mitsubishi Corporation and Sumitomo Mitsui
- Geodesic Alliance Fund (2025): $250M first close; targeting additional close
- Japanese corporate and financial institution LPs are key investors including major conglomerates and banks
What Makes Geodesic Different
Geodesic's core differentiator is their platform for the Japanese market that goes far beyond capital. The Geodesic Japan team in Tokyo provides annual Geodesic Forum events connecting portfolio companies with 100+ Japanese enterprises, go-to-market playbooks for Japan entry, executive recruiting and vetting, business development support including customer pipelines and partnerships, and navigation of Japanese corporate decision-making and government bureaucracies. This operational Japan platform turns an otherwise opaque and challenging market into a structured, supported expansion opportunity for portfolio companies.