Untapped Capital — Before It’s Obvious
A near-final preview of the 2026 Untapped Capital music video, built around the research, build, publish, meet, underwrite, support, and learn method. A final cut will replace this placeholder.
Untapped Capital researches at the frontier, builds with what it finds, and publishes what it learns. The work comes before the pitch; that is how the conversation is earned.

From the field
A near-final preview of the 2026 Untapped Capital music video, built around the research, build, publish, meet, underwrite, support, and learn method. A final cut will replace this placeholder.
The subtitled 2025 short introducing Untapped Capital through an alien and a unicorn discussing early-stage investing, BabyAGI, and finding ideas before they are obvious.
follow the public work into the portfolio
Generative NFT project
Building a generative world made the next layer tangible: persistent communities need places to play and better rails for moving value.
Autonomous agent framework
BabyAGI could plan, but useful agents still needed somewhere safe to act. E2B turns that missing environment into infrastructure.
Related portfolio companies: E2B
Text → knowledge graph
As text became a living graph, memory stopped looking like a prompt problem. FalkorDB provides the graph layer for connected retrieval.
Related portfolio companies: FalkorDB
Generative pipelines
Building creative tools surfaced a broader question: can a system learn from every signal and run the next growth experiment itself? Layers turns that loop into autonomous marketing for apps.
Related portfolio companies: Layers
Ouroboros experiments
Agents fail in conversation long before they improve. Agnost AI turns those failures into a product analytics loop.
Related portfolio companies: Agnost AI
Public research notes
Building agent systems made coordination—not isolated intelligence—the hard part. General Intelligence applies coordinated agents to business workflows.
Related portfolio companies: General Intelligence
Research discovery bots
Research bots surfaced a bigger question: can AI participate in science itself? Explore Science is building tools for scientists and manuscript review.
Related portfolio companies: Explore Science
Research themes
Another way to read the same territory.
How capable agents move from demos into teams: communicating across channels, navigating software, testing products, researching decisions, and acting within owner-defined boundaries.
Execution environments, authorization, observability, knowledge graphs, durable memory, data access, and local inference for agents that must work reliably over time.
What changes when intelligence is built into the operating layer of legal, finance, energy, health, science, restaurants, creative production, and enterprise data work.
How better models, automation, power systems, and operating software change aircraft, buildings, kitchens, manufacturing, ships, and the infrastructure around them.
What durable context looks like when people and agents need to retrieve, connect, and act on knowledge across long-running work.
Sandboxes, permissions, local inference, communication surfaces, and payment rails for software that must do real work rather than only answer questions.
Domain-specific systems that make legal, diligence, science, health, finance, and data work more legible without pretending judgment can be automated away.
The coordination, ownership, identity, and payment layers needed when employees, communities, software agents, and small brands participate directly.
New ways to make, edit, organize, and inhabit media when software participates in the creative loop and audiences help shape the result.
Products that bring health, aging, accessibility, and continuous support into homes and daily routines instead of leaving them inside institutional workflows.
Operational layers for the materials, machines, buildings, transport, and verification work required to turn physical decarbonization into repeatable systems.
research → build → publish → meet → underwrite → support → learn
Frame a live question around a new capability, paper, or overlooked corner of the ecosystem — often before a market is legible.
e.g. early agent loops, knowledge graphs, NFT mechanicsTurn the question into a working prototype. Code makes the idea tangible and exposes the sharp edges that summaries miss.
e.g. BabyAGI · Instagraph · PixelBeastsShare the prototype, paper, or field note so other people can inspect it, respond, and sharpen the next question.
public work invites useful critiqueThe work creates context for conversations with founders, researchers, and builders who are close to the problem.
shared questions before a financing processTurn early context into a clear, independent view of the team, problem, product, and market at inception.
conviction before consensusHelp the company reach its next milestone with a current point of view on narrative, product direction, where AI is headed, and what to build next.
practical support after the checkFeed lessons from the work and the portfolio into the next research cycle while the questions continue to evolve.
a disciplined learning loopPortfolio
Data & intelligence
Product analytics for conversational AI agents, surfacing failures and recurring user friction from real conversations.
AI infrastructure
Physical-AI simulation infrastructure for building structured 3D worlds and training and evaluating robots before real-world deployment.
AI infrastructure
An omnichannel AI employee for calls, email, chat, SMS, and WhatsApp that remembers customers and works inside business systems.
AI infrastructure
Scoped AI models built from proprietary production data, trained and deployed inside customer-controlled infrastructure.
Climate & industry
Autonomous cargo aircraft focused on fast delivery of medical samples and other critical payloads.
Health & care
Video access to vetted, English-speaking, locally licensed doctors and coordinated follow-up care for international travelers.
Health & care
A life-sciences intelligence platform combining regulatory, clinical, safety, and commercial data for pharma and medtech teams.
Consumer & creative
A home-improvement brand for a new generation of DIYers, with project kits, expert support, and a three-drawer steel toolbox.
Business software
An AI operations layer for quick-service restaurants, connecting inventory, scheduling, catering, reporting, and back-office workflows.
Finance & commerce
An employee-ownership trust platform guiding business owners and teams through succession, transaction execution, and shared ownership.
AI infrastructure
A sovereign private-AI operating system and encrypted-compute platform for running sensitive intelligence under organizational control.
AI infrastructure
Runtime behavioral authorization that evaluates autonomous-agent tool calls against policy before execution.
Business software
A legal platform combining AI-drafted documents with access to attorney guidance and review.
Health & care
Operations software for non-emergency medical transportation, including booking, dispatch, tracking, billing, voice AI, and growth services.
AI infrastructure
Secure, isolated cloud sandboxes that give AI agents computers for running code and other workflows.
Data & intelligence
Purchases and verifies hard-to-find print media for AI labs.
Climate & industry
An AI-native financial operating system for building-energy upgrade programs, spanning eligibility, verification, compliance, and contractor payments.
Learning & community
A classroom relationship game that helps students and teachers build belonging by learning about one another.
Climate & industry
Robotics and software designed together for fast, consistent restaurant kitchens and more affordable real food.
Data & intelligence
AI scientist and manuscript-review tools for working researchers.
Data & intelligence
A graph database and GraphRAG platform for querying connected data and grounding AI applications.
AI infrastructure
A programmable AI cloud that turns plain-language instructions into connected models, data, GPUs, memory, sandboxed agents, and deployments.
Climate & industry
A 2D-to-3D model reconciliation platform for ship repair and maintenance, reconstructing reusable vessel models from historical drawings, inspection records, and legacy CAD.
AI infrastructure
An applied AI lab building coordinated agents to automate business workflows through Cofounder.
Data & intelligence
A social web and PDF highlighter that turns reading, annotations, and saved ideas into a durable AI-assisted learning memory.
Climate & industry
High-voltage DC power distribution and neural-network control for denser, more efficient AI and data-center compute.
AI infrastructure
A research company building an open, self-sovereign universal multimodal agent that can understand and act across digital environments.
Business software
An autonomous marketing platform for app growth that connects signals, makes content and ads, optimizes spend, and attributes installs.
Finance & commerce
Persistent client memory for accounting and advisory firms, connecting financial context, firm knowledge, documents, and relationships over time.
Learning & community
A K–12 technology command center and managed-IT platform for school devices, networks, support, and operations.
Consumer & creative
A browser-based AI image and video creation workspace built by Ollano, Inc.
Climate & industry
A carbon-conversion company turning captured CO2 into acrylonitrile, carbon fiber, and other industrial materials.
AI infrastructure
The tool and data layer for AI agents, with runtime discovery, pricing, and execution across APIs.
Consumer & creative
Persistent interactive AI characters with memory, evolving relationships, and stories shaped with their audiences.
Consumer & creative
A camera-equipped ballpoint pen that digitizes handwriting on ordinary paper.
Finance & commerce
Card-linking infrastructure for enterprise programs that turn everyday purchases into automatic saving, investing, donating, and rewards.
Data & intelligence
AI-powered retail market intelligence combining visits, trips, spend, and competitive context to explain store performance.
Climate & industry
A molecular-design and machine-learning company creating novel scent molecules and high-fidelity olfactory experiences with perfumers.
Finance & commerce
Agentic banking infrastructure: AI agents that handle money under financial-institution controls.
Consumer & creative
A web3 farming and social game built around a persistent, player-shaped world.
Consumer & creative
A music-creation platform supporting the path from an initial idea through arrangement, mixing, sound customization, and finished production.
AI infrastructure
Open-source, hardware-native AI inference engines and SDKs for fast, private, offline models across phones, computers, browsers, and embedded devices.
Data & intelligence
A real-time data engine whose agents continuously source, verify, enrich, and repair enterprise CRM records.
Health & care
A senior-living move-in platform for compliant document packets, collaborative signing, audit trails, and integrations.
Climate & industry
An affordable, open, full-size American humanoid robot with a simplified split-waist design and open SDK for developers.
Finance & commerce
Payment infrastructure that unifies fiat and crypto rails for funding, wallets, swaps, and payouts.
Consumer & creative
AI-powered ball machines and autonomous ball collectors for tennis, pickleball, and padel.
Finance & commerce
Commerce and marketing software helping emerging fashion, beauty, home, and lifestyle brands sell across channels and borders.
Finance & commerce
A commerce platform that lets short-term-rental and managed-space operators sell products, services, and local experiences through guest storefronts.
AI infrastructure
Full-service AI testing agents that traverse web and mobile products like real users, find edge cases, and return video-backed reports.
AI infrastructure
Real-time video infrastructure that turns files, live streams, cameras, and screens into searchable context and persistent memory for AI agents.
Climate & industry
Modern home air products, including a quiet, app-connected window air conditioner.
Data & intelligence
An agentic AI platform for dealmaking and consulting, spanning research, diligence, and strategy.
AI infrastructure
A personal AI representative with its own phone, email, memory, and computer that acts within owner-defined rules and returns clear receipts.
Yohei Nakajima is the founder and General Partner of Untapped Capital and the creator of BabyAGI. He has kept a public trail of agent frameworks, knowledge-graph experiments, research tools, and other prototypes since 2020. Building is how he explores, learns quickly, and meets founders working on what comes next.
A field guide to Untapped
Three principles connect the public experiments, the private decisions, and the practical work after the check.
Research becomes more useful when it produces something other people can inspect. We build small prototypes, publish them early, and learn from the response.
We share the work while it is still a question, not a claim. The conversation can start in public; every investment decision is still made one company at a time.
Research themes change as technology moves. They sharpen what we ask and help us find people close to the frontier; they do not replace judgment or become investment quotas.
Private judgment
Every company is judged on its own. The public work creates useful context; conviction still comes from specific underwriting.
Name the technical or behavioral shift that creates a new opening now — not someday.
Look for earned insight, unusual speed, and a reason this group sees the problem differently.
Find the first narrow use case that can matter immediately and expand into something much larger.
We bring a current point of view on the narrative, product direction, where AI is headed, and what to build next.
AI proposes; people decide. The work should stand up to scrutiny.
Starting with BabyAGI, Yohei traces a larger question: how AI might reshape identity, language, and the way people understand one another.
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