Blog

Some Thoughts

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Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

Venture Capital

Series A

We invest in Seed to Series B rounds, but our sweet-spot is Series A. Typically the Seed and Series B investments that we’re doing are kinda actually Series A rounds that are mislabeled; we’re less concerned about the label and more about the operational stage and risk profile of the company.

Occasionally, we’ll write a smaller check into a Seed deal if we’re feeling a very strong sense of conviction.

Incubator

Pre-Seed & Seed

Most of the companies that get selected to participate in the incubator are at the Pre-Seed or Seed stage. The definitions of those stages varies quite a bit, but for us the key thing is that we like to get involved after there is a product in place.

Usually the companies have raised capital and have an early team in place as well.

Foundry

Idea

For the most part the foundry companies are built around internal ideas. We come up with an idea, diligence the heck out of it, then recruit a cofounder & CEO.

Once we have the team we invest some capital and help get the company started.

Ascend

All

Ascend, the family office of Interplay, has the most diverse mandate.

The organization will evaluate opportunities at any stage.

From cyclical to exponential — global semiconductor sales, 2015–2026E. Mar 2026 hits $99.5B (+79.2% YoY); Q1 2026 totals $298.5B, putting the industry on track for its first $1T year.
June 17, 2026
The Chip Industry's First Trillion-Dollar Year: Why Compute Demand Just Broke Its Own Curve
The Semiconductor Industry Association says March 2026 chip sales hit $99.5B — up 79.2% year-over-year. The industry is on pace for its first $1T year, ~2 years ahead of the most aggressive 2024 forecasts. For 40 years, semiconductors were textbook cyclical. The 2024–2026 data shows the cycle didn't correct. It accelerated. Here's what that means for venture.
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The seed round has split into a $2-4M classic seed and a $20M+ AI mega-seed.
June 15, 2026
There Are Two Seed Markets Now — and Founders Need to Pick One
PitchBook-NVCA's Q1 2026 Venture Monitor shows the seed round splitting into two markets — a classic $2–4M seed and a $20M+ AI mega-seed — with an awkward middle that's where down rounds incubate. For founders raising now, the right question isn't how big the seed should be; it's which seed market they're in.
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June 10, 2026
Silicon Valley Re-Enlists: How the Valley Rediscovered the Pentagon
Anduril's $5B raise at a $61B valuation capped the largest defense-tech VC week on record. The Valley was born of defense, drifted to consumer for 30 years, and is now re-enlisting — here's the full cycle in one chart.
Trends
June 3, 2026
Manufacturing Is Growing on Automation + AI, Not Headcount
US manufacturing output is at a fresh high while employment is down from its 2023 peak — the widest output-vs-headcount gap on record. Q1 2026 manufacturing productivity ran 5x the rest of the economy. The AI/automation productivity dividend, told in government data.
Trends
May 27, 2026
US Manufacturing Is Genuinely Expanding Again
The April ISM Manufacturing PMI printed 52.7 — the fourth straight month in expansion. And while the post-CHIPS factory-construction surge is past its peak, we are still spending ~2.5x the pre-CHIPS baseline on new factories every month.
Trends
May 20, 2026
There Are Two Venture Markets Right Now
Q1'26 set an all-time AI funding record at $226B — but a single round was 54% of it. Strip out OpenAI and the picture changes completely.
Trends
May 18, 2026
The Future of Commerce: Agents are Rebuilding B2B Procurement from the Ground Up
AI-powered procurement agents, next-gen ERPs, and autonomous payment systems are reshaping B2B procurement into a faster, smarter, and fully automated ecosystem.
Trends
February 11, 2026
Ollie Is Acquired By Agrolimen
Interplay Accelerator has invested in Relist, a platform enabling fashion brands to participate in resale through existing marketplaces without the operational burden of running their own.
Portfolio News
January 20, 2026
Building The Future Of Resale With Relist
Interplay Accelerator has invested in Relist, a platform enabling fashion brands to participate in resale through existing marketplaces without the operational burden of running their own.
Portfolio News
January 13, 2026
Legal Tech’s Real Transformation Is Happening Now
Legal tech is finally at an inflection point. We break down what’s changed, why adoption is accelerating, and where AI is reshaping legal services—from pricing models to litigation and IP.
Trends
November 20, 2025
Pointer Health Raises Capital To Transform Veterinary Care
Pointer Health closes new round of funding to continue transforming veterinary care.
Fundraising
September 23, 2025
Our Investment in TeachMe.To
TeachMe.To is reinventing private lessons with a seamless, gamified platform for students and coaches.
Fundraising