Liquid 2 Ventures

Liquid 2 Ventures, established in 2015, is a San Francisco-based venture capital firm. It specializes in seed-stage investments, focusing on early-stage technology companies, particularly in the software and TMT sectors. The firm, founded by Joe Montana, Mike Miller, and Michael Ma, aims to support and nurture startups during their initial growth phases.

Michael Ma

Co-Founder and Partner

Mike Miller

Co-Founder and Partner

Nathaniel Montana

Partner

Joe Montana

Co-Founder and Managing Partner

Matt Mulvey

Partner

Past deals in TMT

Tofu

Series A in 2025
Tofu is a company that specializes in providing a marketing tool designed to create hyper-personalized, multichannel campaigns for B2B marketing teams. The platform enables users to generate on-brand content that can be scaled across various marketing initiatives. Tofu's marketing playbook automatically ingests and updates critical information about a company's brand, messaging, target personas, and industries, facilitating strategic initiatives and enhancing content scalability. This comprehensive approach not only streamlines the campaign creation process but also aims to improve conversion rates for businesses.

Alembic

Series A in 2024
Alembic is a technology company that specializes in enhancing digital marketing through its advanced software solutions. The company has developed a marketing event conversion and correlation engine that simplifies digital marketing for businesses by utilizing artificial intelligence and sophisticated mathematical models. This engine processes billions of data points from various digital marketing tools, enabling organizations to evaluate unstructured data and accurately predict marketing ROI and future revenue. Alembic's innovative approach helps clients uncover audience-centric insights and assess the true impact of their marketing efforts. The company serves notable clients, including Fortune 200 companies and leading brands such as NVIDIA, Texas A&M, and North Sails.

Tofu

Seed Round in 2023
Tofu is a company that specializes in providing a marketing tool designed to create hyper-personalized, multichannel campaigns for B2B marketing teams. The platform enables users to generate on-brand content that can be scaled across various marketing initiatives. Tofu's marketing playbook automatically ingests and updates critical information about a company's brand, messaging, target personas, and industries, facilitating strategic initiatives and enhancing content scalability. This comprehensive approach not only streamlines the campaign creation process but also aims to improve conversion rates for businesses.

BeyondTrucks

Pre Seed Round in 2020
BeyondTrucks is a technology company focused on transforming the operations of large private and specialty trucking fleets through its innovative platform. The platform provides configurable solutions for process automation and optimization, enabling fleets to move away from outdated software and manual methods. By harnessing automation, smart data, and integrated financial services, BeyondTrucks offers a comprehensive trucking workflow management system that connects various operational components. This approach facilitates efficient logistics management and promotes a driver-centric transportation model. As the industry reaches a technological inflection point, BeyondTrucks stands out as a leader in modernizing fleet operations and enhancing decision-making capabilities.

Alembic

Seed Round in 2020
Alembic is a technology company that specializes in enhancing digital marketing through its advanced software solutions. The company has developed a marketing event conversion and correlation engine that simplifies digital marketing for businesses by utilizing artificial intelligence and sophisticated mathematical models. This engine processes billions of data points from various digital marketing tools, enabling organizations to evaluate unstructured data and accurately predict marketing ROI and future revenue. Alembic's innovative approach helps clients uncover audience-centric insights and assess the true impact of their marketing efforts. The company serves notable clients, including Fortune 200 companies and leading brands such as NVIDIA, Texas A&M, and North Sails.

Farcast

Seed Round in 2019
We build advanced satcom terminals

Mercury

Seed Round in 2017
Mercury is a financial technology company that delivers online banking solutions tailored for startups and technology-focused businesses. It offers a suite of services, including business checking and savings accounts, corporate credit cards, and currency exchange options. The platform features payment processing, expense tracking, and integration capabilities with accounting software to enhance financial management. Additionally, Mercury provides API access for custom financial automation, making it easier for businesses to manage their financial operations. Catering primarily to venture-backed companies, Mercury utilizes partnerships with FDIC-insured institutions to ensure secure banking services. Its goal is to equip clients with practical financial tools and real-time insights into their business finances, thereby maximizing operational efficiency.

MBF Global

Seed Round in 2016
MBF is a WaaS (Wi-Fi as a Service) company that simplifies how mobile users connect to Wi-Fi networks in large public venues, which eases cellular network congestion dramatically, while improving bandwidth and the overall mobile user experience. MBF’s SaaS (Software as a Service) platform is deployed on premise or in the cloud to provide data offload, monetization, network management and analytics for its customers, which are primarily telecom companies.
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