8VC raises $880M in new fund aimed at 'fixing a broken world'

8VC raises $880M in new fund aimed at ‘fixing a broken world’

Austin-based enterprise agency 8VC, led by controversial Palantir founder Jon Lonsdale, has raised $880 million in its fifth fund.

Inside a blog post Printed at present, Lonsdale, who serves as 8VC’s basic associate, stated his agency’s mission is to “repair a damaged world.”

Whereas Lonsdale did not specify which industries the brand new fund will goal or the typical examine dimension, she defined that 8VC at present manages “over $6 billion in dedicated capital” and plans to take a position “in any respect phases” and begin up corporations of its personal. . He additionally shared that the 8VC crew has reached over 60 folks.

8VC movie star in 2020 moved its headquarters From San Francisco to Austin, Texas. At the moment, Lonsdale tweeted the place Austin is “It’s *far more* tolerant of ideological variety than science fiction.” He added: “Nice tradition/music/meals and so forth.

Immediately, he wrote, 8VC’s new headquarters within the Texas capital “has turn out to be a magnet for entrepreneurs and builders from everywhere in the world.”

believed to be the fund The most important Texas-based enterprise fund for startups, in response to AustinInno.

Lonsdale’s publish concerning the new fund had a philosophical tone. “In fact there are nice challenges going through our civilization, and entrepreneurship has its challenges,” he wrote. “However as entrepreneurs, damaged issues provide alternatives. And after we look deeper, we see unimaginable transformations taking place round us. AI is reworking the world inside and outdoors of computer systems; genome engineering and new scientific data are reworking the world of cells; superior manufacturing is reworking the world of machines; new enterprise fashions, incentives and innovation reworking the best way we obtain our healthcare. These are only a few of our limits.”

Through the years, 8VC has invested in corporations spanning industries as numerous as logistics, life sciences, healthcare, IT infrastructure, authorities and protection, monetary companies, shopper and enterprise. In response to this Introduction Book, proprietor He invested round 500 in whole. between him portfolio companies Asana, Mix, Flexport, his and hers, Mammoth Biosciences, Elon Musk’s The Boring Firm, Qualia and Want.

Lonsdale has at occasions attracted as a lot consideration as portfolio corporations. Earlier final 12 months, she made headlines after her tweets and ruffled quite a lot of feathers. concerning the “woke up” number of expertise. Amongst different controversies it has been concerned in is a break up with partners who have invested before and a high-profile lawsuit filed by a former Stanford pupil that was later dropped.

Lonsdale additionally commented on the paternity depart of Transport Minister Pete Buttigieg, tweeted In late 2021, “any man in a distinguished place taking 6 months off for a new child … is a loser.”

He usually defended himself towards subsequent backlash, saying his phrases had been misunderstood or taken out of context.

In a New Yorker article this month Austin’s transformation Lonsdale spoke to the creator of the article concerning the metropolis she’s embraced lately, from being a liberal fortress to being “extra near libertarianism than liberalism,” and informed her that a part of the town’s magic is that politics could be mentioned in a civilized approach.

“In San Francisco,” Lonsdale is quoted as saying, “after I went as much as somebody, they’d say, ‘You are a nasty particular person.’ So there’s nonetheless one thing very wholesome about Texas. I hope we will preserve it that approach.”

In response to SEC filings, 8VC’s newest flagship fund 640 million dollars In capital commitments in 2021; it has additionally produced numerous particular goal automobiles lately, exhibits the functions.


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