# Subversive Capital

> Subversive Capital is a VC fund in New York backing Cannabis and Health Care. See 31 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: New York, United States
- Total investments: 31
- Last investment: Feb 2023
- Lead investor: 10%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/subversive-capital/about/
- X (Twitter): https://twitter.com/subversivecap
- Website: https://www.subversivecapital.com

Subversive Capital is a VC fund in New York focused on Cannabis and Health Care. Subversive Capital is dedicated to investing in radical companies whose core missions subvert the status quo and require sophisticated government and regulatory strategies for success.

## Contacts

5 contacts available for Subversive Capital. Shizune tracks 2 team members at Subversive Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/subversive-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1M–$8.5M |
| Series A | $4M–$44M |
| Series B | $5M–$75M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Cannabis | 7 | 23% |
| Health Care | 4 | 13% |
| Consumer Goods | 4 | 13% |
| Gaming | 3 | 10% |
| Manufacturing | 3 | 10% |

57 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 7 | 23% |
| Series A | 5 | 16% |
| Series B | 5 | 16% |
| Convertible Note | 3 | 10% |
| Venture - Series Unknown | 3 | 10% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 19 | 61% |
| Canada | 4 | 13% |
| Sweden | 1 | 3% |
| Germany | 1 | 3% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Adam Rothstein | General Partner | 0 | https://shizune.co/investors/profile/adam-rothstein |
| Michael Auerbach | General Partner & Founder | 9 | https://shizune.co/investors/profile/michael-auerbach-2 |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Betty | Betty is a mobile gaming entertainment company that develops the intersection of casual mobile gaming and real money online casinos. | $5M | Seed | Feb 14, 2023 |  |
| Synchron | Synchron manufactures and markets a medical device that can be delivered to the brain with a catheter to record neuron signals that might be used to control an advanced prosthetic. | $75M | Series C | Dec 15, 2022 |  |
| AEXLAB | With an unparalleled VR experience already engaging some of the largest names in esports and media, AEXLAB is continuing to lead the market with cutting edge virtual reality experiences and technology to provide gamers with high-quality, immersive, interactive and social gaming experiences. | $5M | Series A | Feb 15, 2022 |  |
| Pure Beauty | Pure Beauty is an e-commerce platform that offers products in different categories. | $5M | Convertible Note | Jul 15, 2021 |  |
| Pure Beauty | Pure Beauty is a cannabis brand located in Los Angeles. | $5M | Convertible Note | Jul 15, 2021 |  |
| Synchron | Synchron manufactures and markets a medical device that can be delivered to the brain with a catheter to record neuron signals that might be used to control an advanced prosthetic. | $40M | Series B | Jun 03, 2021 |  |
| Docklight Brands | Docklight Brands is a CPG lifestyle company that provides cannabis and hemp to consumers. The company was founded in 2019 and is headquartered in Seattle, Washington, United States. | $8.7M | Series A | Apr 20, 2021 |  |
| AtaiBeckley | ATAI is a global biotech company builder that leverages a decentralized, technology- and data-driven platform model to serve millions of people suffering from mental health disorders. The company is committed to acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in themental health space.ATAI Life Sciences was founded in 2018 and is based in Munich, Bayern, Germany. | $157M | Series D | Mar 03, 2021 |  |
| Aster Farms | Aster Farms is supplying clean cannabis for a clean high, and they believe that cannabis should fit into a healthy, active lifestyle. |  | Venture - Series Unknown | Jan 01, 2021 |  |
| Fleur Marché | Fleur Marché is upending the traditional cannabis dispensary to reach an as yet untapped audience of cannabis consumers by creating an elevated experience for women, by women. Leveraging both an e-commerce platform and physical retail, we are repositioning cannabis as a wellness tool. With a focus on transparency, trust and curation, our cannabisapothecary provides a safe, trustworthy place to dip your toes into the CBD waters. We answer your questions about CBD with well-researched, factual information, we provide beginner friendly ways to find CBD products that work for YOU, and we make as fun and easy as buying a facemask. Join us as we help the world RETHINK CANNABIS. |  | Venture - Series Unknown | Jan 01, 2021 |  |

10 of 31 investments shown.

## Co-investors
- [Apeiron Investment Group](https://shizune.co/investors/profile/apeiron-investment-group) — VC Fund, 2 deals together
- [Boston Seed Capital](https://shizune.co/investors/profile/boston-seed-capital) — VC Fund, 2 deals together
- [Bullpen Capital](https://shizune.co/investors/profile/bullpen-capital) — VC Fund, 2 deals together
- [Ceres Group Holdings](https://shizune.co/investors/profile/ceres-group-holdings) — VC Fund, 2 deals together
- [Conductive Ventures](https://shizune.co/investors/profile/conductive-ventures) — VC Fund, 2 deals together
- [Growcore Investments](https://shizune.co/investors/profile/fireman-capital-partners) — VC Fund, 2 deals together

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## Featured in investor lists
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## FAQ

### What does Subversive Capital invest in?

Subversive Capital invests primarily in Cannabis, Health Care and Consumer Goods startups, most often at Seed and Series A stage. Most of the 31 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Subversive Capital's check size?

Subversive Capital typically joins rounds of $1M–$8.5M at Seed, $4M–$44M at Series A and $5M–$75M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Subversive Capital participates in.

### How do I contact Subversive Capital?

Public channels for Subversive Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Subversive Capital?

The team at Subversive Capital includes Adam Rothstein (General Partner) and Michael Auerbach (General Partner & Founder). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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