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About Fuel Venture Capital

Wall Street heritage meets Silicon Valley vision.

The institutional partner behind Cap-U Fuel Innovation 100 - founded 2017, ~$550M+ AUM (Assets Under Management), 45 portfolio companies across 4 continents.

Jeff Ransdell, Founding Partner & Managing Director, Fuel Venture Capital
Jeff Ransdell Founding Partner & Managing Director

EST. 2017 · Miami · NYC · Silicon Valley

We back the founders who’ll rewrite the next decade.

Fuel Venture Capital was founded in 2017 by Jeff Ransdell, formerly one of six leaders running Merrill Lynch’s wealth division. The thesis: bring institutional-grade access to the innovation economy - to investors who’d traditionally been locked out.

Eight years later, that thesis has compounded into ~$550M+ across 5 funds and a co-investment vehicle, with 45 active portfolio companies spanning fintech, AI, healthcare, and consumer tech.

Cap-U Fuel Innovation 100 is the natural next step - an institutional private-markets platform that finally opens that access to accredited investors at structurally better entry pricing.

Partner of Choice

Global Family Offices & Institutions

Fueling innovative companies poised to become tomorrow’s leaders and disruptors - before they go mainstream.

AUM

~$550M+

Across all Fuel funds

Portfolio Companies

45

Active investments

Total Funds

5 + 1 co-invest

Co-Investment Fund reserved for LPs

Board Seats

10

Active governance roles

Market Penetration

Silicon Valley
Miami
New York

Global reach, three offices

Fuel Venture Capital figures as of December 31, 2025.

Leadership · 30+ Years of Industry Experience

We’ve been on both sides of the table.

Leadership drawn from Wall Street and the venture ecosystem.

Jeff Ransdell
Founding Partner

Jeff Ransdell

Founding Partner & Managing Director

One of six who ran Merrill Lynch’s wealth division

We built Fuel for the investors who wanted access to the innovation economy on institutional terms.
Maggie Vo, CFA
Managing Partner

Maggie Vo, CFA

Chief Investment Officer

Former Blue Shores Capital Manager

Oren Barzilai
Strategic · FIM 100

Oren Barzilai

Strategic Partner

Founder & CEO, EquityBee

Senior Operating Team · 03

Tempel Ransdell

Tempel Ransdell

Head of Investor Relations

Olivia Gaudree

Olivia Gaudree

Partner · Head of Operations & Compliance

Anuj Maheshwari, CFA

Anuj Maheshwari, CFA

Investment Associate

Extended Team & Venture Partners · 06

Mellica Frehner

Mellica Frehner

Fund Ops / Reporting

Juan Pablo Miro

Juan Pablo Miro

Venture Partner · Latin America

Dr. Hasnae Taleb

Dr. Hasnae Taleb

Venture Partner · Gulf Cooperation Council

Emilio Escarpín

Emilio Escarpín

Venture Partner · Europe & Middle East

Jared Shapiro

Jared Shapiro

Fuel Station · Marketing & PR

Danh Luong

Danh Luong

Fuel Station · Dir. of Technology

Legal Counsel
Homer Cooley Travers
Auditor
Forvis Mazars

Team biographies and prior firm affiliations are illustrative of professional background and do not imply endorsement, partnership, or any continuing relationship with the firms named. Cap-U Fuel Innovation 100 is offered only to accredited investors as defined under SEC Regulation D. Past performance and prior firm experience are not indicative of future fund results.

Firm History

The Fuel Story

From Merrill Lynch beginnings to the institutional private-markets platform powering Cap-U Fuel Innovation 100.

  1. 2017

    Origin

    Fuel Venture Capital Founded

    Jeff Ransdell - one of six who ran Merrill Lynch’s wealth division - leaves to bring innovation-economy access to traditional wealth investors. Miami HQ.

    Early portfolio wall at Fuel Venture Capital's Miami office

    Prior Firm

    Merrill Lynch

    Institutional-grade access thesis

  2. 2018

    Flagship I

    Fuel Flagship Fund I

    • Companies321
    • FocusBroad-sector

    The flagship vehicle - broad-sector seed and Series A across fintech, consumer, and SaaS.

    Highlight

    CookUnity CookUnity
  3. 2020

    Fintech Growth

    Fintech Growth Fund

    • Companies51
    • FocusLatAm

    A concentrated, sector-focused fund targeting late-stage LatAm fintech - capitalizing on financial-services digitization.

    Highlight

    RecargaPay RecargaPay
  4. 2023

    Co-Investments

    Co-Investment Fund

    • SPVs421
    • AccessLPs only
    • StructureSingle-name

    Single-name vehicles giving aligned LPs direct exposure to highest-conviction portfolio positions.

    Highlight

    betr betr

    Online gaming super-app

  5. 2025

    Flagship II

    Fuel Flagship Fund II

    • Companies202
    • Vintage2023

    AI-era flagship - concentrated in late-stage tech and AI infrastructure, anchored by recent investments in Mercor and Replit.

    Recent Investments

    Mercor
    Replit Replit
    betr betr
    CookUnity CookUnity
    RecargaPay RecargaPay
  6. 2026+

    The Next Chapter

1As of December 31, 2025. 2As of March 30, 2026. SPV: Special Purpose Vehicle. Past performance of Fuel Venture Capital and its affiliated funds is not indicative of, and does not guarantee, future results for Cap-U Fuel Innovation 100. The Fund uses a different strategy (employee option financing vs. direct equity investment) and has no standalone performance record. Prior-firm affiliations of the team (e.g., Merrill Lynch) are shown for professional background only and do not represent prior-firm performance.

Trusted by Investors

Recognized by Industry

Eight years in major financial media.

2025 Notable IPOs and 2026 anticipated IPOs
Schwab Network
Feb 2026

2025 Notable IPOs & Most Anticipated 2026 IPOs

Schwab Network · Markets Live

Maggie Vo on Bloomberg Television Mar 2025
Bloomberg

“The Next Big Risk: Deflation” - Maggie Vo, CFA on private markets

Bloomberg Television · Live

Forbes SHOOK Top Teams Summit recognition Oct 2024
Forbes

Forbes SHOOK Top Teams Summit · Recognized investment teams

Forbes SHOOK · Summit

Re:Store retail innovation feature Jun 2024
Fortune

Re:Store, WeWork for Retail · Instagram Brands to Storefronts

Fortune · Innovation

Jeff Ransdell Forbes feature Apr 2024
Forbes

How Venture Capitalist Jeff Ransdell Created His Dream Office During The Pandemic

Forbes · Senior Contributor

Olivia Gaudree Forbes feature Sep 2023
Forbes

How This Female Founder Raised $1.7M From Sequoia - Olivia Gaudree

Forbes · Wealth & Leadership

Miami VCs Business Insider feature Jul 2023
Business Insider

The 26 Most Important VCs in Miami, According to Other VCs

Business Insider · Tech

Press references are illustrative of media coverage of Fuel Venture Capital and its principals. Headlines and outlets are summarized from publicly-available coverage and do not constitute endorsements of the Cap-U Fuel Innovation 100 fund, its strategy, or any investment decision. Media coverage is not indicative of investment performance and should not be relied upon for investment decisions.

Past Portfolio

Eight years of category-defining investments

Across fintech, AI, marketplaces, and gaming - built around founders solving the next decade’s hardest problems.

0

Portfolio Companies

Across six vintages and four continents.

0

Jobs Created

Direct employment generated across the portfolio.

0

Countries Represented

Founders building from every major innovation hub.

Curve

Fueled 2020

Soundtrack

Fueled 2018

Lunar

Fueled 2019

Transak

Fueled 2020

Baubap

Fueled 2021

Mbodi

Fueled 2023

Mirai

Fueled 2022

NovoPayment

Fueled 2018

Taxfyle

Fueled 2018

Aracor

Fueled 2024

Architect

Fueled 2024

OhmniLabs

Fueled 2020

Eyrus

Fueled 2018

Leap Financial

Fueled 2021

SoStereo

Fueled 2020

Unitea

Fueled 2024

Vintage years are approximate and reflect initial Fuel Venture Capital investment. Portfolio company logos are illustrative and do not constitute endorsements of Cap-U Fuel Innovation 100. The Fund uses a different strategy (employee option financing vs. direct equity investment) and has no standalone track record. Past performance is not indicative of future results.

Operators We’ve Fueled

Founders we’d back again tomorrow.

Eight years backing repeat builders, immigrant founders, and category-defining operators - across fintech, AI, marketplaces, and gaming, on four continents.

Joey Levy and Jake Paul, betr founders
Fueled 2022

Joey Levy & Jake Paul

Co-Founders

betr

Seeking to build a true online gaming super-app - combining sportsbook, media, and creator economics into a single mobile-native experience.

Amjad Masad, Replit founder
Fueled 2025

Amjad Masad

Founder & CEO

Replit

Reinventing software creation for the AI era - browser-native development with agents that read, write, and ship code alongside the developer.

Rodrigo Teijeiro and RecargaPay founders
Fueled 2020

Rodrigo Teijeiro

Founder & CEO

RecargaPay

One of Brazil’s leading mobile-first financial super-apps - serving the unbanked at scale with everyday payments, credit, and wallet rails.

Ola Sars, Soundtrack Your Brand founder
Fueled 2018

Ola Sars

Founder & CEO

Soundtrack Your Brand

One of the world’s leading B2B music streaming platforms - powering soundscapes for tens of thousands of brand locations across every continent.

Mateo Marietti, CookUnity founder
Fueled 2019

Mateo Marietti

Co-Founder & CEO

CookUnity

Chef-driven meal subscription, scaled. Connecting independent culinary talent to homes nationwide.

Shachar Bialick, Curve founder
Fueled 2020

Shachar Bialick

Founder & CEO

Curve

Europe’s consumer money layer - combining every card, account, and loyalty program into a single financial home with smart-spending intelligence.

Ken Villum Klausen, Lunar founder
Fueled 2019

Ken Villum Klausen

Founder & CEO

Lunar

Nordic challenger bank for the mobile generation - everyday banking, investing, and lending unified in a single Scandinavian-design app.

AEXLAB Founding Team
Fueled 2019

Wallace Santos & Co-Founders

Founding Team

AEXLAB

Pioneering immersive VR esports - building the studio behind Vail VR, one of the most-played competitive VR shooters globally.

Founder and company information shown is illustrative of Fuel Venture Capital’s portfolio relationships and does not constitute endorsement of Cap-U Fuel Innovation 100. Avatar initials are used in lieu of portrait photography. All third-party brand marks and external links are property of their respective owners.

The Manager

Common questions about Fuel Venture Capital.

Background, role, registration, and leadership.

What is Fuel Venture Capital’s background?

Founded in 2017, Fuel Venture Capital manages ~$550M+ in AUM across five funds plus a co-investment vehicle, with 45 portfolio companies on four continents. Past performance of Fuel Venture Capital and its affiliated funds is not indicative of, and does not guarantee, future results for the Cap-U Fuel Innovation 100 - a separate, newly formed fund.

What does Fuel Venture Capital contribute to the Cap-U Fuel Innovation 100?

Fuel Venture Capital serves as the strategic partner - providing deal sourcing, founder and operator relationships, and access to late-stage private companies through its established network. Capital United, LLC is the fund’s registered investment adviser; the two firms have separate legal structures and distinct roles.

Is Fuel Venture Capital registered with the SEC?

Fuel Venture Capital Partners LLC is registered as an Exempt Reporting Adviser with the SEC and is transitioning to a Registered Investment Adviser. Investors can review its Form ADV on the SEC’s IAPD (CRD #304225).

Who leads Fuel Venture Capital?

Fuel Venture Capital was founded in 2017 by Jeff Ransdell, formerly one of six leaders of Merrill Lynch’s wealth division.

Next Steps

Two ways to start the conversation

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Verify your accredited status under SEC Rule 506(c) and request the offering documents for Cap-U Fuel Innovation 100.

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