7 VC firms investing in travel & hospitality and legal & regtech, ranked by portfolio depth and activity.
F4 Fund tracks 7 VC firms that actively invest in travel & hospitality + legal & regtech, with check sizes ranging from $50K – $200M (median: $2.8M – $2.8M). As of August 2026, and 86% lead or co-lead rounds. Rankings are based on F4's proprietary analysis of 1,728+ researched VC firms, scored by data completeness, portfolio depth, investment recency, and stage alignment.
| # | Firm | Check Size | Portfolio | Leads? | Activity | Decision | Intro |
|---|---|---|---|---|---|---|---|
| 1 | ▶ Active Capital Back ambitious, technical founders solving real business problems with software and AI. We prefer to be a meaningful part of the first capital raised and provide hands-on support as operating partners. Great companies can be built anywhere, not just tech hubs. Pre-seed is where company DNA gets formed and represents the most fun and foundational stage of a company. San Antonio | $250K – $1M | 22 | Leads | Active | ~2 wks | Open |
| 2 | ▶ DST Global Back the fastest-growing, most valuable internet and technology companies globally once they have proven scale and market leadership, offering large growth capital on founder-friendly terms (non-voting shares, no board seat requirement). London | $20M – $200M | 20 | Both | Active | N/A | Req'd |
| 3 | ▶ StudioAlpha AI-native B2B software companies building workflow applications where defensibility comes from data access, integrations, governance, and distribution — not the underlying model. The fund treats AI as an execution layer, not a feature. Every investment enters a 100-day production phase to de-risk execution before institutional fundraising. Baar, Switzerland | $50K – $140K | 13 | Follows | Active | ~1 mo | Open |
| 4 | ▶ Expa We build category-defining companies through a combination of design, product, operations, and capital. We identify market gaps, pair brilliant founders with Expa's studio resources, and help them build companies that reshape entire industries. San Francisco | $500K – $5M | 60 | Leads | Active | ~1 wk | Open |
| 5 | ▶ Oxford Capital Founders are the key to realizing a startup's potential; capital is the key to realizing a scaleup's potential. We back disruptors delivering a 10x value proposition to large markets, from pre-seed through growth. Oxford, UK | $1M – $5M | 33 | Both | Active | N/A | Open |
| 6 | ▶ Construct Capital Foundational industries (manufacturing, logistics, defense, energy) have been neglected for decades. Tech founders can unlock trillions in value by applying software, AI, automation, and cloud infrastructure to transform these sectors. This is the largest venture opportunity: tripling the Industrials market cap from $3.7T to $55T by 2050. Washington | $2M – $6M | 27 | Leads | Active | ~1 mo | Open |
| 7 | ▶ TheoryForge Operator-led fund investing in ambitious founders building transformative AI applications. We partner with technical founders who understand AI/ML deeply and are solving real customer problems with capital efficiency. Great product is always the best marketing. | $200K – $500K | 38 | Both | Active | ~2 wks | Req'd |
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Firms that frequently co-invest with investors on this page
F4 Fund tracks 7 VC firms that actively invest in travel & hospitality + legal & regtech. These firms are ranked using a composite score that weighs data completeness (30%), portfolio depth (30%), investment recency (25%), and stage alignment (15%).
Based on F4's analysis, the median check size for travel & hospitality + legal & regtech investors is $2.8M – $2.8M, with a full range from $50K – $200M. The distribution breaks down as: 2 firms in the <$500K range, 1 firms in the $500K-$1M range, 3 firms in the $2M-$5M range, 1 firms in the $10M+ range.
Among the 7 firms tracked, 86% lead or co-lead rounds, and 14% typically follow. Founders seeking a lead investor should filter for firms marked "Leads" or "Both" in the rankings table above. Lead investors typically set deal terms and anchor the round.
The best travel & hospitality + legal & regtech investors combine domain expertise with an active portfolio in the space. Among these firms, 29% prefer warm introductions, and the average firm has 30 portfolio companies. Look for firms whose check size matches your raise, whose stage preference aligns with yours, and who have a track record of supporting companies in your sector through multiple growth phases.
Firm profiles are continuously updated through F4's research pipeline, which combines LLM-powered web research, portfolio analysis, and transcript extraction. The ranking data refreshes every 12 hours. Editorial analysis is reviewed weekly. Individual firm profiles are re-researched on a 30-day cycle or when new information surfaces.