Sugar Free Capital Raises $32 Million Inaugural Fund to Fuel Technical Founders (often from MIT)

Sugar Free Capital, a new venture fund based in NYC, led by Sheena Jindal(Founder and Managing Partner) and Stephanie Beyda, has raised $32 million for its inaugural fund from LPs, including the family offices of tech executives from companies like Nvidia and Citadel. The current portfolio includes Illumix, Creative Mode, Smarty, and DeepNight.

Before founding Sugar Free Capital, Sheena spent seven years in institutional venture at Bessemer Venture Partners and Comcast Ventures, becoming the youngest partner in the firm's history with one of its top track records. Her experience with category-defining companies fuels her focus on founders with strong technical depth and urgency. She began her career at Boston Consulting Group, later joined a Series A startup in Strategy & Operations, and holds a B.S. from MIT and an MBA from Dartmouth’s Tuck School of Business.

Sheena invests in AI-native infrastructure, frontier technologies, and vertical software, backing technical founders building category-defining companies. Throughout her career, she has partnered with teams at OfferUp, Curbio, SevenRooms (exited), Amplemarket, Avibra, Juno, Nurx (exited), Papa, Illumix, Smarty, Deepnight, and CreativeMode, and continues to serve on several of their boards.

The firm invests early and selectively, maintaining a concentrated portfolio with hands-on support. From initial stages through scaling, it partners with founders on mission-critical areas such as go-to-market strategy, engineering talent, and other capabilities that foster long-term growth.

Sugar Free Capital was founded on two principles: technical founders will lead the next generation of category-defining companies, and concentrated, conviction-driven strategies deliver outsized returns. Built by Sheena Jindal after years at top institutional firms, the firm focuses on high-agency, thesis-driven investing, supporting enduring companies with capital efficiency, strong unit economics, and a path to nine-figure revenue.