Andy Lombard is Founder and Managing Partner of Tesoro Venture Capital, one of the world’s first AI + Semiconductor accelerators and venture funds based in Phoenix. A six-time venture-backed founder and global innovation leader, he previously held senior roles at Motorola Asia and Motorola Ventures, managing investments and partnerships across 13 countries.
Lombard also founded the Arizona Innovation Challenge and Venture Ready Accelerator, which invested $25M into 165 startups that have grown to a combined valuation of more than $7B. He later launched the $87M Arizona Venture Development Corporation to expand early-stage capital across the state.
Through Tesoro VC, Lombard is building a global ecosystem connecting startups with industry leaders such as TSMC, Cadence, and Amkor to accelerate the next generation of AI + semiconductor innovation.
Tesoro Venture Capital
Tesoro Venture Capital is an ecosystem-driven venture platform accelerating startups building enabling technologies across AI + semiconductor systems. Headquartered in Phoenix, Tesoro combines venture investment, a deep-tech accelerator, and a Global Design Center to help founders design, prototype, and scale advanced compute and semiconductor innovations.
The platform connects startups with capital, engineering resources, and strategic industry partners including leaders across semiconductor design, manufacturing, and advanced packaging. Through collaborations with companies such as TSMC, Cadence, and Amkor, along with universities, government agencies, and global innovation partners, Tesoro provides founders with rare access to world-class design tools, supply chains, and commercialization pathways.
As Arizona rapidly emerges as a global hub for semiconductor manufacturing and AI infrastructure, Tesoro has received growing recognition and press coverage for its role in building one of the world’s first integrated venture ecosystems dedicated to the future of AI + semiconductor innovation.