Announcing SPC's $575M Fund IV
$575M to help founders find their life's work.
SPC exists to help the world's most talented technologists discover and build their life's work.
Since 2016, our thesis has been that greatness emerges when extreme talent density meets innate curiosity. We find intensely curious builders, bring them together at the stage of the journey that is normally most isolating, and partner with them through the most ambiguous days of building.
-1 to 0 is our territory. Nobody else takes it as seriously as we do, and nobody else has a decade of learning to be world-class at it. We believe that best-in-class venture returns will be a second order effect of helping exceptional people choose the right mountain to climb.
Today we’re announcing SPC Fund IV: $575M to help founders find their life’s work. A decade of guiding founders through -1 to 0 brings SPC to $2B in assets under management and, far more important, a 1,200-member strong community of the most talented technologists in the world.
People sometimes describe SPC as an accelerator, and we've come to enjoy pointing out that we're closer to the opposite. An accelerator applies speed to an existing trajectory. But the decisions that set a company's course get made earlier, and the ideas founders are working on when we meet them are rarely the most compelling versions of what they might build. Our industry has plenty of speed (even more so now). What’s scarce is judgment about where to point it.
Like any good investment, early judgment compounds. Our approach to helping founders has produced three funds in the top 10% of their vintages. Industry-defining companies like Baseten, Gamma, Render, Goodfire, Luma, and Profound all started at SPC. We are so proud of the insanely talented founders who continue to join our community to figure out what they want to build.
And while we defined -1 to 0, we're no longer bound by it. Fund IV allows us to partner with companies well beyond launch. The work we do from day -1 builds a unique level of trust with our founders—inevitable when you work through the mess of ideation together. We’re often the most active investors well after our founders launch and leave the refuge of SPC. Now we have the fund to match that commitment.
We're doing this now because we've never seen a wider gap between what's possible and what's being attempted. Intelligence is abundant. The cost of trying ideas keeps falling, and problems that seemed insurmountable a few years ago are quickly becoming solvable.
We’re lucky to be in the early days of a fundamental shift in technology, and like our members, we’re learning to think bigger: machines that do real work in factories, farms, and hospitals; energy abundant enough for sci-fi futures; biology approached as an engineering discipline; and the chips, instruments, and tools that help science itself move faster.
To our members, to the founders who trusted us before anyone else did, and to the LPs who believed in a strange thesis long before anyone else: thank you. You each helped make this next chapter possible.
To the builders looking to find your life's work: let's get started.