Raymond Tonsing
Investing Profile
Caffeinated Capital thesis
Varun Gupta Partner Varun joined Caffeinated in 2020. A generalist investor, he has sourced companies like Saronic and Twenty. Previously, Varun was a data scientist and machine learning engineer at Affirm (pre-IPO), where he led the development of multiple novel credit underwriting systems, one of which made the Affirm Anywhere mobile product newly profitable. Before that, Varun worked at Expanse (acquired by Palo Alto Networks) and Wealthfront and studied applied math, computer science, and AI at Stanford University. Varun serves on the boards of Federato, Amca, and Luzern. He lives in New
Sector and stage focus
- Series A: Cloud Infrastructure, Data Services, Web3/Blockchain, IoT, BioTech, AI, Enterprise, Future of Work, SaaS, Consumer Internet
- Seed: Data Services, IoT, Cloud Infrastructure, Web3/Blockchain, BioTech, AI, Consumer Internet, Future of Work, SaaS, Enterprise
- general: San Francisco Bay Area
Recent investments by Raymond Tonsing
Raymond Tonsing has 8 named past investments in the public record. The most recent:
| Company | Stage | Date | Round size |
|---|---|---|---|
| Twenty Technologies | Series A | Nov 2025 | $38M |
| MicroAlchemy | Seed | May 2025 | $2M |
| Saronic | Series D | Mar 2026 | $1.8B |
| Better Health | Series A | Jun 2024 | $14M |
| Varda | Series C | Jul 2025 | $190M |
| Friend | Seed | Jul 2024 | $3M |
| Matia | Series A | Feb 2026 | $21M |
| 8Flow | Series A | Apr 2025 | $10M |
Frequent co-investors
Raymond Tonsing has co-invested with: Philip Carson, Peter Thiel, Ben Braverman, Frank Taylor, Austin Ogilvie, William Miller.
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