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Raymond Tonsing

Raymond Tonsing

Partner·Caffeinated Capital

San Francisco, CA and Aspen, CO

Bio

Professional summary

Raymond Tonsing is a partner at Caffeinated Capital. The official Caffeinated team page says he founded the firm in 2008, was one of the first solo GPs, and helped pioneer the single-partner fund model while scaling the firm to billions in assets under management. His profile says he has backed companies from seed to IPO, including Affirm and Opendoor, and backed companies acquired by BlackRock, Google, JPMorgan Chase, Meta, and Spotify. It also says he serves on the boards of Onebrief, Saronic, Seneca, and Twenty and lives between San Francisco and Aspen.

Investment focus

Stage, sector, and overall fit

Stage

seedearly-stageseed to IPO

Sector

financial technologyconsumerenterprisedefensehealthcare

Thesis

long-term partnerships with founders building category-defining companiesearly-stage riskfinancial, enterprise, defense, healthcare, consumer, climate, crypto, and aerospace categories

Notable companies

Selected portfolio companies the partner has backed

AffirmOpendoorFutureAdvisorAppurifyWePayParseBlueprint LabsBetty LabsOnebriefSaronicSenecaTwenty

How to approach

Framing and angles for outreach

Pitch framing

Relevant for ambitious founders seeking a long-term partner and willing to take early-stage risk in large, durable markets.

Personalization hooks

  1. 1Reference Caffeinated's preference for long-term founder relationships over transactional deal-making.
  2. 2If relevant, connect the company to one of Caffeinated's visible themes such as defense, fintech, enterprise, healthcare, or aerospace.

Recent signals

What the partner has said or done recently

  • Caffeinated's 2026 press page highlights recent portfolio activity around Saronic, Starcloud, Astral, Virta Health, Varda, and Onebrief.

Background

Career, education, and skills

Career history

  • Caffeinated CapitalFounder & Managing Partner2008 – Present

Education

  • University of Colorado BoulderDegree

Skills

Early-stage investingDefense techFintechConsumerSolo GP model

Other partners at Caffeinated Capital

2 more profiles

Matthew Volosin

Matthew Volosin

Partner

Caffeinated Capital

Partner at Caffeinated overseeing the firm’s non-investment functions.

ComplianceFinanceFund administrationLegalLP relationsOperations
Varun Gupta

Varun Gupta

Partner

Caffeinated Capital

Varun Gupta is a partner at Caffeinated Capital and a generalist investor with prior data science and machine learning experience at Affirm.

Generalist with emphasis on data-science, AI, FinTechSeed rounds and occasional Series A/B