Rafael Corrales founded Background Capital, which is funded entirely by successful founders as limited partners, reinforcing his identity as a founder-centric solo GP backed by the very entrepreneurs he invests in. He was an early personal shareholder or angel investor in the first rounds of several category-defining companies including Instacart, Blockchain, Webflow, Clearbit, and Luxe, and is frequently cited as an early advisor to Instacart's founders who credit him with helping recruit key employees.

• Pride in backing early-stage winners and remaining loyal to portfolio companies, evidenced by frequent mentions of being the first outside shareholder in Instacart and celebrating their success years later.
• Strong interest in cryptocurrency and the future of digital finance, frequently noting the momentum of Bitcoin and celebrating growth milestones for wallet providers like Blockchain.
• Focus on personal productivity and mental clarity, often discussing the benefits of disconnecting from social media to improve focus and effectiveness in decision-making.
• Enthusiasm for on-demand services that solve tangible logistical problems, illustrated by personal use of delivery apps to manage time and showing family members how services like Uber and Sprig work.
• Support for diversity and inclusion within the tech ecosystem, highlighted by attendance at events for organizations like Women Who Code and praising their impact.
• Valuing operational experience and "relentless action" over pure theory, such as recalling hands-on projects scaling sales teams at HubSpot or witnessing the first sale at RentJuice before its eventual acquisition.