The Journal of Space Commerce

The Journal of Space Commerce

In Depth

Caffeinated Capital Investment Spotlight

Silicon Valley's contrarian investor doubles down on orbital manufacturing and nuclear-powered space infrastructure

Mike Turner's avatar
Mike Turner
Sep 18, 2025
∙ Paid

In an era when venture capital firms chase the latest trend with predictable enthusiasm, Caffeinated Capital has built its reputation on zigging when others zag. Founded in 2010 by Raymond Tonsing, this San Francisco-based firm has quietly assembled a portfolio that reads like a contrarian's playbook—from early bets on financial technology to recent maj…

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