Caterina Fake brings a humanities-first perspective to venture investing, having trained as an artist and English literature major before co-founding Flickr and explicitly building it as online community rather than attention-hacking social media. She's known for spotting cultural movements early through this outsider lens, backing companies like Kickstarter and Etsy before they fit Silicon Valley pattern recognition, and hosts the tech podcast Should This Exist? while questioning whether technologies should be built rather than simply whether they can be.
What they've been talking about across their social media accounts

- Critical analysis of artificial intelligence capabilities and personality. She actively tests language models to document their degrading performance over time, such as noting how chatbots fail to retrieve specific Shakespearean passages they were trained on, and she critiques the sycophantic, overly apologetic tone of these tools which she feels encourages entitled behavior in humans.
- Concern for the unintended consequences of technology and innovation on society. She highlights historical cautionary tales, such as the story of the inventor behind leaded gasoline and CFCs, to illustrate how celebrated innovations can have disastrous long-term effects that aren't immediately understood.
- Deep engagement with literature, writing, and high-level intellectual discourse. She frequently discusses her own long-form writing and promotes conversations with complex thinkers and cultural figures, such as her interviews with filmmaker Werner Herzog and physicist Michio Kaku.
- Examination of leadership traits and founder psychology. She challenges the narrative that founders need to be difficult people to succeed, referencing a long-standing internal debate about whether being abrasive is a requirement for victory, and suggests reading material on how to survive toxic personalities in the office.
- Focus on the broader societal impact of the startup ecosystem and financial crises. During the Silicon Valley Bank collapse, she shifted focus away from pure financial speculation to express concern for the stability of non-profits, hospitals, and everyday payroll that were put at risk.
- Reframing of traditional narratives around gender and communication dynamics. She suggests that what is often labeled as a lack of confidence in women should actually be viewed as a lack of arrogance or a sensible reluctance to make declarations without first having all the data.
- Advocacy for sustainable urban planning and environmental awareness. She celebrates local initiatives like car-free streets in San Francisco and shares data visualizations regarding global energy sources, such as the distribution of coal power plants relative to cleaner regions.
About their Fund
Sectors
AI, Climate, Consumer, Space, Transportation
Rounds
Pre-Seed - Series A
Avg Check Size
$30K - $1.5M
Notable Investments
Yes VC is founded and led by two repeat founders who built era-defining social platforms (Flickr co-founder Caterina Fake and Jaiku/Ditto founder Jyri Engeström) and explicitly focuses on "building a more human internet" by backing tech that is net-positive for society rather than just fast-growing. The fund runs as a deliberately small, high-conviction operation investing in roughly 20 companies per year, positioning itself as peer-investors to operators rather than distant capital providers while specializing in "social infrastructure" and products at the intersection of culture and technology.
Other partners at the fund
Notable Fund
Investments
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