Toba Capital is an evergreen venture fund backed solely by founder Vinny Smith (former Quest Software CEO) that specializes in leading early rounds for B2B software companies, particularly those serving SMBs and building technical infrastructure like identity and security tools. The firm operates with a "two bites of the apple" strategy, deliberately re-underwriting and doubling down on portfolio companies at later stages while providing hands-on operational support as one of Southern California's largest permanent capital providers.