SpaceX currently dominates the commercial launch market and is developing significant businesses in telecom, transportation, and space exploration. In 2008, Luke Nosek was the first venture capital investor to back SpaceX and has served on the board of the company since then. Our founders started backing the company during their time at Founders Fund. We have invested over $1 billion in SpaceX since starting Gigafund in July 2017. Most of the return potential from venture capital backed companies comes from 1-2 companies per decade. The difference between an average and an extraordinary business or entrepreneur becomes clear when looking out 20 years, which is why almost all of our funds will be invested into a handful of companies that we anticipate will become the world’s most significant. These transformative businesses tend to produce very substantial gains in the long-term, which is why we expect that a long-term focus will outperform the traditional 10-year venture model when it comes to investments in this type of entrepreneur. We seek founders who look past short-term trends, industry structures, and technology opportunities and instead use first principles to solve the world’s biggest problems. This is why Gigafund invests in all sectors, geographies, and stages, which is similar to the strategy that our founders successfully deployed at Founders Fund. Limiting focus to “yesterday’s” best-performing industries will miss these companies. Truly transformative companies rarely fit into pre-defined boxes. Before we invest in a company, we ask ourselves: Do we expect this company to be one of the world’s most significant and transformative businesses 20 years from today? Also, will this founder stick with their company for that period of time and ensure that it achieves its full potential? We make long-term concentrated investments in founders who are capable of growing with their companies and maximizing impact over a period of decades.īuilding significant businesses that create or transform industries requires a different type of stamina, independent thought, vision, and backing. Gigafund is a venture capital firm backing the world's most ambitious and transformative entrepreneurs.
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