Will Lehmann
Founder and General Partner at Step Function, an early-stage fund focused on infrastructure software; previously a partner at Bain Capital Ventures with a decade of enterprise software investing experience.
Best podcasts with Will Lehmann
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Jun 30, 2025 • 40min
S2E12: Beyond the Multistage Trap – Will Lehmann on Building a Solo Fund with Precision
Will Lehmann, founder of Step Function, shares insights from his journey transitioning from Bain Capital Ventures to running his own specialized fund. He discusses the importance of size in venture capital, arguing that smaller funds foster deeper relationships with founders. Lehmann highlights the potential of investing in infrastructure software and AI, noting the rise of successful outcomes in this sector. The conversation also explores Boston's emergence as a tech hub and the evolving landscape of venture capital, emphasizing collaboration in supporting visionary founders.
Oct 4, 2025 • 1h 1min
Will Lehmann, Founder & GP Step Function: Backing Infrastructure Founders
Will Lehmann, Founder and General Partner at Step Function, shares his journey from Bain Capital Ventures to launching his own early-stage fund focused on infrastructure software. He discusses unconventional founder support, highlighting tailored mentorship alongside traditional methods. Will emphasizes the importance of security in the age of AI, detailing investment trends in AI-security and agentic threat hunting. He also offers insights on the fundraising process, stressing the need for investor fit and securing strong lead investors.
