Lacuna Gap Capital
vc · United States
Lacuna Gap Capital was a Boulder, Colorado venture capital firm operated by Lacuna, LLC (founded October 2006 by Rawleigh H. Ralls, alongside co-founder Sanford "Sandy" Keziah). The firm pioneered a "Gap Capital" strategy, investing roughly $500,000 to $3 million in early-stage companies that had outgrown angel funding but were still too small for traditional venture rounds of $4 million or more, in healthcare, consumer, business products/services, and information technology. Beyond capital, Lacuna emphasized hands-on go-to-market and operational involvement with portfolio companies. Lacuna, LLC also operated the affiliated Lacuna Hedge Fund, investing in small- and micro-cap public equities. The venture fund's last publicly recorded new investment was in 2010, and Lacuna Venture Fund, LLLP is recorded as liquidated; the firm appears to have wound down active investing sometime in the mid-2010s.