Paul Martino founded Bullpen Capital around a genuinely distinct strategy in venture capital: rather than specializing by sector, Bullpen specializes by timing, investing just after a company's earliest angel or seed round in businesses that have found real product-market fit but remain overlooked by other investors. That 'post-seed' and 'unloved gems' thesis has carried the firm through more than a decade of investing, including its largest fund yet, a $145 million Fund VI raised in 2022.
No public exit yet documented - Bullpen's distinct 'post-seed' strategy focuses on backing overlooked companies after their earliest funding round