Eniac Ventures
Overview
Eniac Ventures is a venture capital firm specializing in seed-stage investments, primarily focusing on companies that leverage cutting-edge technologies to create transformational products. Founded in 2009, it is based in New York City and was established by Nihal Mehta, Hadley Harris, Vic Singh, and Tim Young, who were engineering classmates at the University of Pennsylvania. As of recent, Eniac Ventures has managed to raise substantial capital through multiple funds, continuing to support early-stage startups across various sectors.
Recent Developments
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August 2025: Eniac Ventures co-led a $6.5 million seed funding round for Refold AI, a startup aiming to revolutionize enterprise software integration through AI agents. The investment aligns with Eniac's focus on innovative tech-driven companies, enhancing their portfolio in AI and enterprise solutions.
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July 2025: Eniac Ventures participated in a $4.3 million seed round for Mobly, a company redefining event marketing technology with real-time engagement tools. This investment highlights Eniac's interest in marketing tech innovations that integrate AI and data-driven strategies.
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April 2024: Eniac closed two new funds with a total of $220 million, showcasing a commitment to invest significantly in early-stage startups. The funds are split into $160 million for Eniac VI, focused on seed investments, and $60 million for Select I, meant for follow-on investments in existing portfolio companies.
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March 2024: The firm announced a $3.1 million seed round in Attention, an AI-driven sales platform that utilizes natural language processing to improve sales efficiency, further solidifying Eniac's investment strategy in AI-powered business solutions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2009 |
| Headquarters | New York City, New York, USA |
| Founders | Nihal Mehta, Hadley Harris, Vic Singh, Tim Young |
| Industry | Venture Capital |
| Number of Employees | Approximately 36 (as of latest data) |
| Key Investors | Various endowments, foundations, family offices |
Early History
Eniac Ventures was conceived by four engineering graduates from the University of Pennsylvania. Initially starting with a modest $1.6 million fund in 2009, the firm differentiated itself by focusing on mobile software ventures. Nihal Mehta, a serial entrepreneur, along with his co-founders, recognized the shift towards mobile and tech-oriented solutions, which paved the way for their venture into the seed capital market. Their unique approach as hands-on investors helped establish Eniac as a formidable player in the venture capital landscape, quickly growing their fund size and influence.
Company Profile and Achievements
Eniac Ventures operates with a keen focus on seed-stage funding, supporting a diverse range of tech-driven startups. The firm maintains a balanced portfolio, backing companies across sectors like AI, blockchain, SaaS, and e-commerce. Over the years, Eniac Ventures has consistently demonstrated a strategic approach to investing in disruptive technologies.
- Key Investments: Airbnb, Attentive, and Anchor (acquired by Spotify).
- Fundraising Milestones:
- Eniac Ventures I: $1.6 million
- Eniac Ventures II: $12.9 million
- Eniac Ventures III: $55 million
- Eniac Ventures IV: $100 million
- Eniac Ventures V: $125 million
- Latest Eniac VI and Select I funds: $220 million
Their support extends beyond capital, offering strategic guidance, networking opportunities, and operational support to their portfolio companies, significantly contributing to their high conversion rate from seed to Series A funding.
Current Operations and Market Position
In 2025, Eniac Ventures maintains a strong presence as a top-tier seed-stage venture capital firm, known for its rigorous and strategic funding approach. The firm has cemented its reputation by consistently identifying and nurturing high-potential startups, leading their development through crucial early stages. Eniac's methodical investment processes and focus on sectors poised for significant growth, such as AI and deep tech, keep it at the forefront of venture capital innovation.
Conclusion
Eniac Ventures stands out in the venture capital industry for its founder-first approach and its consistent track record in identifying and backing transformative technology companies. With recent capital infusions into AI and enterprise software integrations, Eniac is strategically positioning itself to ride the wave of technological advancements in these fields. As the firm continues to expand its investment portfolio with innovative startups, its role as a leader in seed-stage ventures is anticipated to grow, potentially shaping the future landscape of tech-driven industries.