Investments
399Portfolio Exits
47Funds
3Partners & Customers
4About M12
M12 is a corporate venture fund for Microsoft. The firm seeks to invest in companies operating in cloud infrastructure, artificial intelligence, cybersecurity, developer tools, vertical SaaS, web3, and gaming. M12 uses its deep expertise and extensive platform to help early-stage companies in those key thesis areas accelerate growth and build strategic partnerships. The firm was founded in 2016 and is based in Redmond, Washington.
Expert Collections containing M12
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Find M12 in 1 Expert Collection, including Fortune 500 Investor list.
Fortune 500 Investor list
590 items
This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.
Research containing M12
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned M12 in 10 CB Insights research briefs, most recently on Apr 29, 2025.
Apr 29, 2025 report
State of CVC Q1’25 Report
Jan 30, 2025 report
State of AI Report: 6 trends shaping the landscape in 2025
May 16, 2024 report
State of CVC Q1’24 Report
Mar 26, 2024
6 applications of humanoid robots across industries
Feb 5, 2024
6 cybersecurity markets gaining momentum in 2024
Latest M12 News
Sep 10, 2025
Smyth leaves Microsoft’s startup investment unit Sep 10, 2025 • Fernando Moncada Rivera Andrew Smyth is joining Hedosophia as partner after just over a year at M12. Andrew Smyth has left M12, Microsoft’s VC arm, to join VC firm Hedosophia as partner. Smyth was a managing partner at M12 for a year-and-a-half, during which time he was involved in the unit’s investments in AI-adjacent companies such as database architecture developer Neon, site reliability developer Neubird.ai, and diffusion large language model technology company Inception Labs. Smyth spent nearly a decade as partner at Atlantic Bridge, where he mainly focused on software investments. He also served two years in an investment banking role at Arma Partners. M12 brought in Peter Lenke, the former head of Atlassian Ventures, in August as managing partner to focus on investments in AI, enterprise and the application layer. Fernando Moncada Rivera Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast .
M12 Investments
399 Investments
M12 has made 399 investments. Their latest investment was in Sola Security as part of their Series A on September 04, 2025.
M12 Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
9/4/2025 | Series A | Sola Security | $35M | Yes | Glilot Capital Partners, Mike Moritz, New Era Capital Partners, S Capital VC, Section 32, and Undisclosed Investors | 2 |
7/24/2025 | Series B - II | Armada | $131M | No | 8090 Industries, Felicis, Founders Fund, Glade Brook Capital, Lux Capital, Marlinspike, Overmatch Ventures, Pinegrove Capital Partners, Shield Capital, Silent Ventures, and Veriten | 2 |
6/24/2025 | Series A | Eventual | $20M | Yes | Citibank, and Felicis | 3 |
6/12/2025 | Series C | |||||
5/12/2025 | Seed VC - II |
Date | 9/4/2025 | 7/24/2025 | 6/24/2025 | 6/12/2025 | 5/12/2025 |
|---|---|---|---|---|---|
Round | Series A | Series B - II | Series A | Series C | Seed VC - II |
Company | Sola Security | Armada | Eventual | ||
Amount | $35M | $131M | $20M | ||
New? | Yes | No | Yes | ||
Co-Investors | Glilot Capital Partners, Mike Moritz, New Era Capital Partners, S Capital VC, Section 32, and Undisclosed Investors | 8090 Industries, Felicis, Founders Fund, Glade Brook Capital, Lux Capital, Marlinspike, Overmatch Ventures, Pinegrove Capital Partners, Shield Capital, Silent Ventures, and Veriten | Citibank, and Felicis | ||
Sources | 2 | 2 | 3 |
M12 Portfolio Exits
47 Portfolio Exits
M12 has 47 portfolio exits. Their latest portfolio exit was Unbabel on August 22, 2025.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
|---|---|---|---|---|---|
8/22/2025 | Acquired | 7 | |||
5/14/2025 | Acquired | 12 | |||
4/16/2025 | Acquired | 3 | |||
Date | 8/22/2025 | 5/14/2025 | 4/16/2025 | ||
|---|---|---|---|---|---|
Exit | Acquired | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 7 | 12 | 3 |
M12 Fund History
3 Fund Histories
M12 has 3 funds, including Microsoft Ventures AI Fund.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
|---|---|---|---|---|---|
Microsoft Ventures AI Fund | 1 | ||||
M12 Europe Fund | |||||
GitHub Fund |
Closing Date | |||
|---|---|---|---|
Fund | Microsoft Ventures AI Fund | M12 Europe Fund | GitHub Fund |
Fund Type | |||
Status | |||
Amount | |||
Sources | 1 |
M12 Partners & Customers
4 Partners and customers
M12 has 4 strategic partners and customers. M12 recently partnered with Incentive on April 4, 2015.
Date | Type | Business Partner | Country | News Snippet | Sources |
|---|---|---|---|---|---|
4/21/2015 | Vendor | United States | LOS ANGELES -- April 21 , 2015 -- Incentive , a leading provider of a complete , socially powered enterprise collaboration platform for mid-market organizations and enterprise teams , today announced it has joined Microsoft , a global initiative empowering entrepreneurs around the world on their journey to build great companies . | 1 | |
11/3/2013 | Partner | ||||
Partner | |||||
Partner |
Date | 4/21/2015 | 11/3/2013 | ||
|---|---|---|---|---|
Type | Vendor | Partner | Partner | Partner |
Business Partner | ||||
Country | United States | |||
News Snippet | LOS ANGELES -- April 21 , 2015 -- Incentive , a leading provider of a complete , socially powered enterprise collaboration platform for mid-market organizations and enterprise teams , today announced it has joined Microsoft , a global initiative empowering entrepreneurs around the world on their journey to build great companies . | |||
Sources | 1 |
M12 Team
17 Team Members
M12 has 17 team members, including current Chief Operating Officer, Oriona Spaulding.
Name | Work History | Title | Status |
|---|---|---|---|
Oriona Spaulding | Chief Operating Officer | Current | |
Name | Oriona Spaulding | ||||
|---|---|---|---|---|---|
Work History | |||||
Title | Chief Operating Officer | ||||
Status | Current |
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