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Cap-U Fuel Innovation 100

Portfolio.

Current employee-financing exposures and the wider universe we consider for underwriting.

Selected current exposures.

Executed employee-financing contracts entered into by EquityBee-managed financing series create contractual economic exposure linked to the resulting company shares.

Companies shown
7
CommunicationExecuted

Discord

Voice, video and community chat.

RoboticsExecuted

Skild AI

AI foundation models for robotics.

AI infrastructureExecuted

Lambda

Cloud computing for AI workloads.

Data infrastructureExecuted

VAST Data

Data infrastructure for AI.

AI developmentExecuted

Replit

AI-powered app development.

Humanoid roboticsExecuted

Figure AI

General-purpose humanoid robots.

Data securityExecuted

Cyera

Data discovery and security.

Investors own an interest in the fund, not direct shares in these companies. These selected names identify companies underlying executed employee financing contracts as of 2 October 2026. This is not a complete portfolio listing. They do not imply company affiliation, sponsorship or endorsement.

How it works

The wider opportunity

Underwriting universe.

Explore the companies we consider for underwriting, grouped by investment theme.

84Companies listed

As of 2 October 2026.

  • Executed7

    Blue cards identify selected companies underlying executed employee-financing contracts.

  • Illustrative potential77

    Underwriting targets, not holdings or commitments.

Selected company list, not a complete portfolio listing. The final portfolio may include some, none or different companies.

Company status

Investment theme

Showing 84 of 84 companies in the underwriting universe.

Marquee Companies

25 companies

  • Lambda

    Cloud computing for AI workloads.

    Executed

  • Kraken

    Cryptocurrency exchange and trading services.

  • Mercor

    Expert talent for AI development.

  • Discord

    Voice, video and community chat.

    Executed

  • OpenAI

    AI models and ChatGPT.

  • Deel

    Global hiring, payroll and HR.

  • Anduril

    Defense technology and autonomous systems.

  • Crusoe

    Cloud infrastructure for AI.

  • Databricks

    Data analytics and AI platform.

  • Cohesity

    Data backup and cyber resilience.

  • Ramp

    Corporate cards and spend management.

  • Airwallex

    Global business payments and financial tools.

  • Canva

    Visual design and collaboration tools.

  • Applied Intuition

    Vehicle software and autonomous driving.

  • Kalshi

    Prediction market for real-world events.

  • Stripe

    Online payments and financial infrastructure.

  • Rippling

    Workforce, payroll and IT management.

  • Fanatics

    Sports merchandise and collectibles.

  • Grammarly

    AI writing and communication assistance.

  • Perplexity

    AI-powered search and answers.

  • Notion

    Workspace for notes, docs and projects.

  • Flexport

    Freight forwarding and logistics technology.

  • Blue Origin

    Rockets and spaceflight technology.

  • Checkr

    Employment background screening.

  • Polymarket

    Prediction markets for global events.

Thriving Under the Radar

28 companies

  • VAST Data

    Data infrastructure for AI.

    Executed

  • Arctic Wolf

    Managed cybersecurity and threat detection.

  • Abnormal

    AI-powered email and account security.

  • Attentive

    SMS and email marketing.

  • Cribl

    Data routing and telemetry management.

  • CookUnity

    Chef-prepared meal subscription service.

  • 1Password

    Password and enterprise access management.

  • Whoop

    Wearable fitness and recovery tracking.

  • Clio

    Legal practice management software.

  • Ripple

    Blockchain-based payments and digital assets.

  • Cato Networks

    Cloud networking and cybersecurity.

  • Consensys

    Ethereum and blockchain software.

  • Armis

    Asset intelligence and cyber exposure management.

  • Plaid

    Connections between financial apps and banks.

  • Hungryroot

    Personalized groceries and meal planning.

  • Devoted Health

    Medicare Advantage health plans and care.

  • Ro

    Online healthcare and treatment services.

  • Celonis

    Process mining and business optimization.

  • Gusto

    Payroll, benefits and HR software.

  • AlphaSense

    AI-powered market intelligence and research.

  • Mercury

    Banking platform for businesses.

  • Veeam

    Data backup, recovery and resilience.

  • Lyra

    Mental health benefits and care.

  • Vanta

    Security compliance and trust management.

  • Postman

    API development and collaboration.

  • Verkada

    Cloud-managed physical security systems.

  • Weee!

    Online Asian grocery delivery.

  • Grafana Labs

    Monitoring and observability software.

Transformational AI Leaders

31 companies

  • Replit

    AI-powered app development.

    Executed

  • Figure AI

    General-purpose humanoid robots.

    Executed

  • Cyera

    Data discovery and security.

    Executed

  • Skild AI

    AI foundation models for robotics.

    Executed

  • Shield AI

    Autonomous aircraft and defense AI.

  • Clay

    Sales data enrichment and outreach workflows.

  • Reflection

    Open AI models and research.

  • ElevenLabs

    AI voice generation and audio tools.

  • Suno

    AI music creation.

  • Lovable

    App creation through natural-language prompts.

  • Cohere

    Enterprise AI models and applications.

  • Vercel

    Web application development and deployment.

  • OpenEvidence

    AI-assisted medical evidence search.

  • 1X

    Humanoid robots for everyday tasks.

  • Zipline

    Autonomous drone delivery.

  • Abridge

    AI documentation of clinical conversations.

  • dbt Labs

    Data transformation and analytics engineering.

  • Snyk

    Developer tools for application security.

  • Addepar

    Investment data and portfolio analytics.

  • Dataiku

    Enterprise AI and data science platform.

  • Midjourney

    AI image and visual creation.

  • Dialpad

    AI-powered business communications.

  • Runway

    AI video generation and creative tools.

  • SambaNova

    AI computing and inference infrastructure.

  • Harvey

    AI tools for legal work.

  • Harness

    Software delivery and developer tools.

  • Sword Health

    Digital physical therapy and care.

  • Radiant

    Portable nuclear microreactors.

  • Glean

    Enterprise search and AI assistants.

  • together.ai

    Cloud platform for building and running AI.

  • Sierra

    AI agents for customer service.

Source: Fuel Venture Capital / Capital United underwriting-universe data, September 2026; executed status updated 2 October 2026. Categories reflect the source investment themes. Investment depends on employee financing availability, company participation, due diligence, approval and transaction economics. The list is selective and illustrative; it is not evidence of investment performance, company endorsement or future fund results.

Let’s talk about the portfolio.

Discuss the strategy, current exposure and investment terms with the Capital United team.

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