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137 Ventures walks and talks like your run-of-the-mill venture capital fund, but a quick look under the hood exposes a different style of investing.
The San Francisco-based growth-stage firm, which is today announcing its fourth fund with $210 million in committed capital, provides liquidity to founders and early employees of “sustainable, fast-growing, private companies.” In essence, 137 Ventures buys shares directly from employees at unicorn tech companies, like Palantir, Flexport and Airbnb .
Justin - Fishner-Wolfson - S - Alexander - Jacobson
Founded by Justin Fishner-Wolfson and S. Alexander Jacobson, a pair of former investors at Peter Thiel’s Founder’s Fund, 137 Ventures also owns a significant stake in Elon Musk’s SpaceX, according to the pair.
Fishner-Wolfson tells TechCrunch he decided to pursue raising his own fund in 2011 after observing the extending startup timeline. Companies were going public later and later, and employees were crying out for opportunities to liquify their stock. He was unsure the experiment would succeed; fast-forward eight years and his limited partners are satisfied enough to increase their bets....
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