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Theory Ventures
Theory Ventures
Venture capital firm
San Francisco, CA
Strategy
Geographies
San Francisco, CA
Portfolio
1 total
Ollama
Co-Investors
6
49 Palms · 1 shared
8VC · 1 shared
Benchmark · 1 shared
GTMFund · 1 shared
Pace Capital · 1 shared
Y Combinator · 1 shared
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Jul 9, 2026
Ollama Raises $65M Series B as Open-Weight Models Scale
Ollama, the open-source platform for running AI models locally, closed a $65 million Series B led by Theory Ventures, bringing total funding to $88 million as its developer base grew to nearly 9 million.
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