The work connects

follow the public work into the portfolio

PixelBeasts

Generative NFT project

Building a generative world made the next layer tangible: persistent communities need places to play and better rails for moving value.

Related portfolio companies: Pixels, Swipelux

BabyAGI

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

Instagraph

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

Automated content

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

Self-improving agents

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

Agent architecture

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

arXiv experiments

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

The method

research → build → publish → meet → underwrite → support → learn

  1. Research

    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 mechanics
  2. Build

    Turn the question into a working prototype. Code makes the idea tangible and exposes the sharp edges that summaries miss.

    e.g. BabyAGI · Instagraph · PixelBeasts
  3. Publish

    Share the prototype, paper, or field note so other people can inspect it, respond, and sharpen the next question.

    public work invites useful critique
  4. Meet

    The work creates context for conversations with founders, researchers, and builders who are close to the problem.

    shared questions before a financing process
  5. Underwrite

    Turn early context into a clear, independent view of the team, problem, product, and market at inception.

    conviction before consensus
  6. Support

    Help 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 check
  7. Learn

    Feed lessons from the work and the portfolio into the next research cycle while the questions continue to evolve.

    a disciplined learning loop

Browse the complete portfolio54 companies

Data & intelligence

Agnost AI

Product analytics for conversational AI agents, surfacing failures and recurring user friction from real conversations.

  • Data & intelligence
  • AI infrastructure
  • Business software

AI infrastructure

Antim Labs

Physical-AI simulation infrastructure for building structured 3D worlds and training and evaluating robots before real-world deployment.

  • AI infrastructure
  • Climate & industry

AI infrastructure

Anyreach

An omnichannel AI employee for calls, email, chat, SMS, and WhatsApp that remembers customers and works inside business systems.

  • AI infrastructure
  • Business software

AI infrastructure

Atheon

Scoped AI models built from proprietary production data, trained and deployed inside customer-controlled infrastructure.

  • AI infrastructure
  • Data & intelligence
  • Business software

Climate & industry

Avol Aerospace

Autonomous cargo aircraft focused on fast delivery of medical samples and other critical payloads.

  • Climate & industry
  • Health & care

Health & care

Awayward

Video access to vetted, English-speaking, locally licensed doctors and coordinated follow-up care for international travelers.

  • Health & care
  • Consumer & creative

Health & care

Basil Systems

A life-sciences intelligence platform combining regulatory, clinical, safety, and commercial data for pharma and medtech teams.

  • Health & care
  • Data & intelligence
  • Business software

Consumer & creative

Character

A home-improvement brand for a new generation of DIYers, with project kits, expert support, and a three-drawer steel toolbox.

  • Consumer & creative
  • Finance & commerce

Business software

Clave

An AI operations layer for quick-service restaurants, connecting inventory, scheduling, catering, reporting, and back-office workflows.

  • Business software
  • Finance & commerce

Finance & commerce

Common Trust

An employee-ownership trust platform guiding business owners and teams through succession, transaction execution, and shared ownership.

  • Finance & commerce
  • Business software

AI infrastructure

Covenant Labs

A sovereign private-AI operating system and encrypted-compute platform for running sensitive intelligence under organizational control.

  • AI infrastructure
  • Data & intelligence

AI infrastructure

Denied

Runtime behavioral authorization that evaluates autonomous-agent tool calls against policy before execution.

  • AI infrastructure
  • Business software

Business software

DocDraft

A legal platform combining AI-drafted documents with access to attorney guidance and review.

  • Business software

Health & care

Duet

Operations software for non-emergency medical transportation, including booking, dispatch, tracking, billing, voice AI, and growth services.

  • Health & care
  • Business software

AI infrastructure

E2B

Secure, isolated cloud sandboxes that give AI agents computers for running code and other workflows.

  • AI infrastructure
  • Business software

Data & intelligence

Eldil

Purchases and verifies hard-to-find print media for AI labs.

  • Data & intelligence
  • Business software

Climate & industry

Eli

An AI-native financial operating system for building-energy upgrade programs, spanning eligibility, verification, compliance, and contractor payments.

  • Climate & industry
  • Finance & commerce
  • Business software

Learning & community

EnlightApp

A classroom relationship game that helps students and teachers build belonging by learning about one another.

  • Learning & community
  • Consumer & creative

Climate & industry

Eridale

Robotics and software designed together for fast, consistent restaurant kitchens and more affordable real food.

  • Climate & industry
  • Business software
  • Finance & commerce

Data & intelligence

Explore Science

AI scientist and manuscript-review tools for working researchers.

  • Data & intelligence
  • Learning & community
  • AI infrastructure

Data & intelligence

FalkorDB

A graph database and GraphRAG platform for querying connected data and grounding AI applications.

  • Data & intelligence
  • AI infrastructure

AI infrastructure

FlyMy.AI

A programmable AI cloud that turns plain-language instructions into connected models, data, GPUs, memory, sandboxed agents, and deployments.

  • AI infrastructure
  • Data & intelligence

Climate & industry

Forge Shipyard

A 2D-to-3D model reconciliation platform for ship repair and maintenance, reconstructing reusable vessel models from historical drawings, inspection records, and legacy CAD.

  • Climate & industry
  • Data & intelligence
  • Business software

AI infrastructure

General Intelligence

An applied AI lab building coordinated agents to automate business workflows through Cofounder.

  • AI infrastructure
  • Business software

Data & intelligence

Glasp

A social web and PDF highlighter that turns reading, annotations, and saved ideas into a durable AI-assisted learning memory.

  • Data & intelligence
  • Learning & community
  • Consumer & creative

Climate & industry

Hayla

High-voltage DC power distribution and neural-network control for denser, more efficient AI and data-center compute.

  • Climate & industry
  • AI infrastructure

AI infrastructure

Intelligent Internet

A research company building an open, self-sovereign universal multimodal agent that can understand and act across digital environments.

  • AI infrastructure
  • Data & intelligence
  • Consumer & creative

Business software

Layers

An autonomous marketing platform for app growth that connects signals, makes content and ads, optimizes spend, and attributes installs.

  • Business software
  • AI infrastructure
  • Data & intelligence

Finance & commerce

Legix

Persistent client memory for accounting and advisory firms, connecting financial context, firm knowledge, documents, and relationships over time.

  • Finance & commerce
  • Business software
  • Data & intelligence

Learning & community

Loretta

A K–12 technology command center and managed-IT platform for school devices, networks, support, and operations.

  • Learning & community
  • Business software

Consumer & creative

Mage

A browser-based AI image and video creation workspace built by Ollano, Inc.

  • Consumer & creative
  • AI infrastructure

Climate & industry

Mars Materials

A carbon-conversion company turning captured CO2 into acrylonitrile, carbon fiber, and other industrial materials.

  • Climate & industry

AI infrastructure

Monid

The tool and data layer for AI agents, with runtime discovery, pricing, and execution across APIs.

  • AI infrastructure
  • Data & intelligence

Consumer & creative

Mutuals

Persistent interactive AI characters with memory, evolving relationships, and stories shaped with their audiences.

  • Consumer & creative
  • Learning & community
  • AI infrastructure

Consumer & creative

Nuwa Pen

A camera-equipped ballpoint pen that digitizes handwriting on ordinary paper.

  • Consumer & creative
  • Learning & community
  • Climate & industry

Finance & commerce

Olive Group

Card-linking infrastructure for enterprise programs that turn everyday purchases into automatic saving, investing, donating, and rewards.

  • Finance & commerce
  • Business software

Data & intelligence

Pass_by

AI-powered retail market intelligence combining visits, trips, spend, and competitive context to explain store performance.

  • Data & intelligence
  • Finance & commerce
  • Business software

Climate & industry

Patina

A molecular-design and machine-learning company creating novel scent molecules and high-fidelity olfactory experiences with perfumers.

  • Climate & industry
  • Consumer & creative

Finance & commerce

Payman AI

Agentic banking infrastructure: AI agents that handle money under financial-institution controls.

  • Finance & commerce
  • AI infrastructure

Consumer & creative

Pixels

A web3 farming and social game built around a persistent, player-shaped world.

  • Consumer & creative
  • Finance & commerce

Consumer & creative

Playhead

A music-creation platform supporting the path from an initial idea through arrangement, mixing, sound customization, and finished production.

  • Consumer & creative

AI infrastructure

RunAnywhere

Open-source, hardware-native AI inference engines and SDKs for fast, private, offline models across phones, computers, browsers, and embedded devices.

  • AI infrastructure
  • Climate & industry

Data & intelligence

Salmon Labs

A real-time data engine whose agents continuously source, verify, enrich, and repair enterprise CRM records.

  • Data & intelligence
  • Business software

Health & care

Senior Sign

A senior-living move-in platform for compliant document packets, collaborative signing, audit trails, and integrations.

  • Health & care
  • Business software

Climate & industry

Steelbot

An affordable, open, full-size American humanoid robot with a simplified split-waist design and open SDK for developers.

  • Climate & industry
  • AI infrastructure

Finance & commerce

Swipelux

Payment infrastructure that unifies fiat and crypto rails for funding, wallets, swaps, and payouts.

  • Finance & commerce
  • AI infrastructure

Consumer & creative

Tennibot

AI-powered ball machines and autonomous ball collectors for tennis, pickleball, and padel.

  • Consumer & creative
  • Climate & industry

Finance & commerce

The Folklore

Commerce and marketing software helping emerging fashion, beauty, home, and lifestyle brands sell across channels and borders.

  • Finance & commerce
  • Business software
  • Consumer & creative

Finance & commerce

The Host Co

A commerce platform that lets short-term-rental and managed-space operators sell products, services, and local experiences through guest storefronts.

  • Finance & commerce
  • Business software
  • Consumer & creative

AI infrastructure

Variata

Full-service AI testing agents that traverse web and mobile products like real users, find edge cases, and return video-backed reports.

  • AI infrastructure
  • Business software

AI infrastructure

VideoDB

Real-time video infrastructure that turns files, live streams, cameras, and screens into searchable context and persistent memory for AI agents.

  • AI infrastructure
  • Data & intelligence
  • Consumer & creative

Climate & industry

Windmill

Modern home air products, including a quiet, app-connected window air conditioner.

  • Climate & industry
  • Consumer & creative

Data & intelligence

Wokelo

An agentic AI platform for dealmaking and consulting, spanning research, diligence, and strategy.

  • Data & intelligence
  • Business software

AI infrastructure

Zinley

A personal AI representative with its own phone, email, memory, and computer that acts within owner-defined rules and returns clear receipts.

  • AI infrastructure
  • Consumer & creative
General Partner

Yohei Nakajima

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.

31,707 Stars across public GitHub repositories As of 2026-09-11 · source
126 Public builds in the build log As of 2026-09-11 · source
131 Citations on Google Scholar As of 2026-09-11 · source
Longer field notesPrinciples + private judgment

A field guide to Untapped

The questions change. The method stays the same.

Three principles connect the public experiments, the private decisions, and the practical work after the check.

01

Make the question tangible.

Research becomes more useful when it produces something other people can inspect. We build small prototypes, publish them early, and learn from the response.

02

Public exploration. Private judgment.

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.

03

A question is not a mandate.

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

Research sharpens the questions. It never makes the decision.

Every company is judged on its own. The public work creates useful context; conviction still comes from specific underwriting.

01

What just became possible?

Name the technical or behavioral shift that creates a new opening now — not someday.

02

Why this team?

Look for earned insight, unusual speed, and a reason this group sees the problem differently.

03

Where is the wedge?

Find the first narrow use case that can matter immediately and expand into something much larger.

After the check, help reach the next milestone.

We bring a current point of view on the narrative, product direction, where AI is headed, and what to build next.

  • Narrative
  • Product direction
  • Operating example

AI proposes; people decide. The work should stand up to scrutiny.

TEDTEDAI 2023 · 8:25

How AI will help us connect with ourselves and each other

Starting with BabyAGI, Yohei traces a larger question: how AI might reshape identity, language, and the way people understand one another.

Watch on TED ↗
Visual style