The fund primarily invests in consumer internet, enterprise software, and technology-enabled business-to-business companies. It typically participates in rounds with 5-6 other investors and has been known to co-invest with Kapor Capital, Cambia Health Solutions, and 500 Startups. Some of its successful portfolio startups include ClassPass, MeetMindful, and SchoolMint. Nelstone Ventures prefers to invest in startups that are 2-3 years old and have a smaller number of founders. The fund typically makes investments in the range of $5-10 million and is involved in 2-6 deals per year.