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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.
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Oct 4, 2025
• 1h 1min
Will Lehmann, Founder & GP Step Function: Backing Infrastructure Founders
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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.
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