PRIVATE-MARKETS INVESTMENT FIRM · MIAMI · PALO ALTO
Concentrated positions in the companies building the intelligence economy.
Carbyne Capital makes primary allocations in the compute, energy, space & defense, and robotics companies behind the AI buildout. Each position is held in its own dedicated vehicle, alongside the round’s lead investors.
01 · THE THESIS
Intelligence creates demand. Scarcity decides who captures it.
AI is a demand shock propagating through the physical economy, and the bill is settled downstream, in compute, power, machines, and the market infrastructure that connects them. Carbyne invests where that bill comes due.
Read the thesis →WHERE WE LOOK
Four core sectors in one buildout.
AI & compute
Semiconductors, compute systems and data-center capacity beneath the application layer.
Energy & power
Generation, storage and transmission: the binding constraint on compute.
Space & defense
Launch, orbital infrastructure and autonomy-driven defense systems.
Robotics & physical AI
Automation and advanced manufacturing, where intelligence acquires hands.
Adjacent
Market infrastructure
Exchanges, custody and settlement: selective exposure where our team’s experience runs deepest.
02 · PERSPECTIVES
How we think about this market.
The liquidity regime of the private buildout
Long private tenure turns time itself into a source of supply, and the companies decide who receives it.
Pricing against frenzied rounds
When a late-stage round is oversubscribed, its headline price records what the most motivated investors agreed to pay.
03 · PRIMARY-FIRST
What we do
Primary allocations
Where our work starts. Direct allocations in capacity-constrained rounds, on terms negotiated with the company, taken when the allocation is firm and the entry price holds up on its own terms.
Secondary transfers
We read secondary pricing as a market signal and work through transfers when a company approves them.
04 · FOR COMPANIES & LEAD INVESTORS
A shareholder that keeps the cap table simple.
One coordinated investor on the cap table, a long horizon, and discretion around every round.
One line on the cap table
One counterparty, one signature.
A long horizon
Underwritten for a multi-year hold.
Discretion
Your round and your terms stay confidential.
Typical allocation
$5M–$50M per round.
05 · LEADERSHIP
Jason Ben Yair
FOUNDER & MANAGING PARTNER
Jason Ben Yair founded Carbyne Capital and leads its sourcing, underwriting and structuring. He was previously Managing Partner of a private real-estate investment firm, and from 2016 to 2018 he built and operated a power-intensive compute facility in Central Washington. He is also a Venture Partner at Stanford Blockchain Builders Fund and Strategic Director at Bitcoin.com.
Building the physical layer of AI?
Founders, management teams and lead investors: conversations are confidential.