Riley Newman was one of Airbnb's first 10 employees and its first data scientist, where he built the data function from scratch and later ran the entire data science team, giving him deep expertise in marketplace dynamics and growth. At Wave Capital, he focuses specifically on marketplace investments and actively leverages the Airbnb alumni network to back founders from that ecosystem, bringing both rigorous data-science evaluation methods and unusual access to Airbnb's talent and knowledge base.
About their Fund
Sectors
Marketplaces, Consumer, SaaS, Enterprise, Ecommerce
Rounds
Pre-Seed - Series A
Avg Check Size
$25K - $1M
Notable Investments
Wave Capital was explicitly conceived as the "Airbnb mafia" fund, setting out to back marketplace startups founded by Airbnb alumni and turn that alumni base into an organized, compounding network advantage. The fund runs a concentrated, high-involvement model with roughly 18–20 companies per fund where partners lead nearly every round and take board seats, spending disproportionate time on marketplace design, data, and strategy with each team.
Other partners at the fund
Notable Fund
Investments
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Popular Investors
investor name
Active in
Rounds
Avg. Check
Links
Deeptech / Hardware
Robotics
Biotech
+
12
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Defense
Deeptech / Hardware
Energy
+
7
View more in profile...
Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Defense
Deeptech / Hardware
Energy
+
7
View more in profile...
Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Biotech
Health
Deeptech / Hardware
+
2
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
$250K - $2M
Unknown
Climate
Deeptech / Hardware
Materials
+
4
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Unknown
Pre-Seed - Seed
Unknown
$400K - $1.5M
Unknown
Deeptech / Hardware
Robotics
Biotech
+
7
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Deeptech / Hardware
Robotics
Biotech
+
2
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
~$750K
Unknown
Fintech
Deeptech / Hardware
Devtools
+
2
View more in profile...
Unknown
Pre-Seed - Series A
Unknown
$250K-$1M
Unknown
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