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Venture with Grace

Will Lehmann, Founder & GP Step Function: Backing Infrastructure Founders

04 Oct 2025

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Will Lehmann is the Founder & GP at Step Function. He has spent his entire career investing in technical founders at the earliest stages. He started Step Function to give founders leverage: a fund purpose-built to help founders building infrastructure software succeed from the outset. He provides the support, domain experience & expertise that you expect from an institutional lead investor with the feel, velocity & accessibility of a super angel. He helps founders in all the conventional ways — domain expertise, customer intros, candidate intros, fundraising intros — and in the unconventional ways as well. Before starting Step Function, Will Lehmann was a Partner at Bain Capital Ventures (BCV), where he spent a decade investing in early-stage enterprise software companies.Topics: Investing in the next wave of infrastructureUnconventional ways Step Function help foundersMajor trends, founding archetypes, or infrastructure bottlenecks will define the coming years

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