Llama Ventures is a San Francisco-based venture capital firm backing AI-native companies across the intelligence stack, from infrastructure to vertical applications. It invests primarily in U.S.-based startups from pre-seed through Series A+ with typical checks of $500K to $5M, and has acted as a co-lead investor. Relevant focus areas include AI and machine learning, infrastructure, enterprise software, SaaS, hardware, mobility, transportation and energy-related technology.