Cowboy Ventures is led by Aileen Lee, who coined the term "unicorn" and created the analytical framework that defines billion-dollar startups, giving the firm a uniquely data-driven perspective on market dynamics and category-shaping outcomes. The firm backs founders re-imagining life and work through technology, with a distinct "Mustang Fund" structure that allows them to double down on breakout companies while keeping their primary fund focused purely on seed investments.