Incubater Capital
Incubater Capital is an early-stage investment firm founded by Nathan Chen and Will Nicholson. Headquartered in the United States, the firm is best known for its alternative fundraising framework called the Community Liquidity Offering (CLO)—a model that challenges traditional venture capital approaches by enabling startups to raise capital from aligned communities without diluting equity or control.
Overview
Established to address the inefficiencies and inequities of conventional startup funding, Incubater Capital operates on the belief that founders should be able to build without sacrificing time, ownership, or autonomy. The company positions itself not as a typical venture fund, but as a systems-level upgrade to early-stage fundraising.
Community Liquidity Offering (CLO)
At the core of Incubater’s model is the CLO, a community-driven financing structure that enables startups to secure early capital by activating their user base and support networks. Unlike traditional venture capital:
- Founders retain full equity.
- No lengthy pitch cycles are required.
- Funding is a byproduct of traction, not a prerequisite for it.
This approach is intended to align incentives, reduce gatekeeping, and flip the traditional power dynamic between founders and investors. Rather than spending months pitching to institutional capital, startups can focus on execution while organically raising capital from supporters who believe in the vision early.
Philosophy and Differentiation
Incubater Capital takes a distinctly founder-first and execution-driven stance. The firm emphasizes speed, precision, and transparency—contrasting sharply with legacy VC models, which often favor connections over competence and lengthy due diligence over action.
According to its founders, the CLO model is not a trend-driven crypto derivative, nor a repackaged VC fund, but a fundamental redesign of startup funding for the post-VC era.
Impact and Market Reception
Startups launched through Incubater Capital have gained early traction, exposure, and credibility, often attracting capital organically as a result of strong market signals rather than PR efforts. The brand is quickly becoming a trust signal among early-stage founders and operators.
By building out infrastructure that prioritizes scalability and founder autonomy, Incubater has positioned itself as a disruptive force in the venture space—prompting some to label it a potential blueprint for the future of startup financing.
Founders
- Nathan Chen – Co-founder, entrepreneur, and advocate for founder-centric capital structures.
- Will Nicholson – Co-founder, known for systems thinking and venture model innovation.
Legacy and Vision
Incubater Capital is part of a growing movement aimed at democratizing access to capital and decentralizing control from traditional gatekeepers. Its mission reflects a broader shift in startup culture—from pitch-first to build-first, from dilution to ownership, and from institutional dependence to community-driven momentum.
As the venture landscape continues to evolve, Incubater Capital stands out as one of the leading experiments redefining how innovation gets funded—and who gets to benefit from it.