Cambium Capital
About Cambium Capital
Venture investor; co-led Arcee AI's Series B.
Cambium Capital was founded in 2018 by Landon Downs and David Moehring. Downs is Managing Partner and Moehring is a co-founder and General Partner. Peter Ort is General Partner and Chief Operating Officer. Bill Leszinske is listed as a General Partner by PEI and as Vice President by the F4 directory. Sources disagree on the headquarters. Most list San Francisco, while Crunchbase and some directories list Seattle. The legal entity is Cambium Capital Management. PEI lists Cambium Capital Partners II with a July 2022 close, and PitchBook lists a Cambium Capital Partners III. Fund sizes are not public in the sources found.
The firm describes its aim as funding the future of computation. Its stated focus is the full compute stack: advanced compute silicon, memory and storage, data movement, chip packaging and software toolchains. Its thesis is that agentic AI will need new hardware architectures. Its recent AI deals also include model and agent companies. It co-led NeoCognition's $40M seed in April 2026, a round that Downs commented on publicly. It was one of three co-leads of Arcee AI's Series B, announced on 16 September 2026 with Vista Equity Partners and Emergence Capital. It led SambaNova's $350M Series E in February 2026 alongside Vista. F4 says the firm avoids consumer applications and companies without deep engineering differentiation in computing hardware or compute-adjacent software.
Directories list the firm as investing at Seed, Series A and Series B, with some follow-on and later-round participation, as in SambaNova's Series E. The F4 directory lists a $1M to $5M check size, but the firm does not state this on a source we could confirm, so treat it as unverified. The firm does not publish a check size range or a reserve policy.
- Arcee AI: builds open-weight foundation models for enterprises, including the Trinity family. Series B announced September 2026, co-led by Cambium, with a reported size of at least $150M.
- NeoCognition: research lab building self-learning AI agents for enterprise. $40M seed in April 2026, co-led by Cambium and Walden Catalyst Ventures.
- SambaNova Systems: AI compute company. $350M Series E in February 2026, with Cambium as a lead investor.
- Groq: AI inference chips. PitchBook records Cambium investments in November 2018 and April 2021.
- Rivos, Rapid Silicon and AheadComputing: compute hardware companies in the portfolio. AheadComputing's $30M seed is listed on ZoomInfo without a date.
- f4.fund/firms/cambium-capital
- privateequityinternational.com/institution-profiles/cambium-capital-pa
- linkedin.com/company/cambium-capital-partners
- pitchbook.com/profiles/fund/19065-25F
- pitchbook.com/profiles/fund/27508-96F
- crunchbase.com/organization/cambium-capital-partners/financial_details
- thenextweb.com/news/neocognition-40m-seed-self-learning-ai-agents
- techfundingnews.com/neocognition-40m-seed-self-learning-ai-agents-ente
Investing activity
Cambium Capital appears in 3 AI deals tracked by the AI Lounge deals desk, rounds totalling $220M, and led 2 of them. The rounds are mostly Series A, Series B and Seed, with a median round size of $40M and the largest at $150M. The most recent are Hyperbolic (Series A-1, $30M, Oct 2026), Arcee AI (Series B, $150M, Sep 2026) and NeoCognition (Seed, $40M, Apr 2026).
Cambium Capital most often invests alongside Vista Equity Partners, Walden Catalyst, Dell Technologies Capital and General Catalyst, and the companies it backs on AI Lounge are mostly in AI compute management and GPU cloud, Foundation models (small language models) and AI.
Deals
Frequently asked questions about Cambium Capital
Who founded Cambium Capital?
Landon Downs and David Moehring founded Cambium Capital in 2018. Downs is Managing Partner and Moehring is General Partner.
Does Cambium Capital invest in AI startups?
Yes. It co-led NeoCognition's $40M seed in April 2026 and Arcee AI's Series B in September 2026. It also led SambaNova's $350M Series E in February 2026.
What stages does Cambium Capital invest in?
Directories list Seed, Series A and Series B, and the firm has joined later rounds such as SambaNova's Series E. It does not publish a check size, and the $1M to $5M figure on F4 is unverified.
What kind of AI companies does Cambium Capital back?
It focuses on the compute stack, including silicon, memory, packaging and software toolchains. It also backs AI model and agent companies such as Arcee AI and NeoCognition. It says it avoids consumer apps.
How large are Cambium Capital's funds?
Fund sizes are not public in the sources found. PEI lists Cambium Capital Partners II with a July 2022 close, and PitchBook lists a Fund III.
What AI companies has Cambium Capital invested in?
Cambium Capital's AI investments include Hyperbolic, Arcee AI and NeoCognition. The 3 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Cambium Capital based?
Cambium Capital is based in US.
What stage does Cambium Capital invest at?
In the rounds tracked on AI Lounge, Cambium Capital has invested at Series A, Series B and Seed, with a median round of $40M. Cambium Capital led 2 of those rounds.
Who does Cambium Capital co-invest with?
Cambium Capital's most frequent co-investors on AI Lounge are Vista Equity Partners (3 deals), Walden Catalyst (1 deal), Dell Technologies Capital (1 deal), General Catalyst (1 deal) and Salience Capital (1 deal).
How can founders reach Cambium Capital?
Founders on AI Lounge can see Cambium Capital's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Cambium Capital to their Investor Pipeline to track the conversation.