Gigafund

Gigafund is an Austin, Texas-based venture capital firm established in 2017 by co-founders Luke Nosek and Stephen O'Connell. The firm distinguishes itself by focusing on exceptionally ambitious founders who are building "world-changing" companies, often in highly capital-intensive sectors. Their investment thesis centers on identifying and supporting ventures with the potential to achieve multi-billion dollar valuations and significant societal impact, rather than incremental improvements. This approach leads them to invest in areas such as space exploration, advanced energy solutions, transportation infrastructure, and biotechnology.

The firm is known for its substantial investment commitments, typically writing initial checks ranging from $50 million to $100 million, and sometimes even larger amounts for follow-on rounds. This significant capital deployment reflects their strategy of taking meaningful ownership and providing robust support to companies tackling grand challenges. Gigafund's portfolio includes notable companies like SpaceX, The Boring Company, and Neuralink, underscoring their commitment to frontier technologies and long-term, high-risk, high-reward ventures.

In 2021, Gigafund successfully closed its second fund, Gigafund II, at $400 million, further solidifying its capacity to back these capital-intensive endeavors. The firm's founders, particularly Luke Nosek, a co-founder of PayPal and an early investor in SpaceX, bring a unique blend of entrepreneurial experience and a deep understanding of scaling transformative technologies. Gigafund's investment philosophy emphasizes patient capital and a long-term horizon, aligning with the often protracted development cycles of the deep technology companies they support. Their focus remains on enabling founders to pursue audacious goals that could redefine industries and human capabilities.