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Venture Capital
1517fund.com

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Investments

41

Portfolio Exits

2

Funds

8

About 1517 Fund

1517 supports teams with grant, pre-seed, and seed funding for technology startups. Its focus is on makers, hackers, and scientists interested in working outside tracked institutions because we believe that the path geared towards higher education is not for all.

1517 Fund Headquarter Location

5519 McMillan Street

Oakland, California, 94618,

United States

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Latest 1517 Fund News

Announcing 1517 Fund Investment: Xona Space Systems

May 4, 2020

GPS was invented by the Department of Defense nearly fifty years ago. In the pursuing five decades, it’s found its way into nearly every facet of life, from the directions you follow and the plane on which you fly to the food you order and the groceries you purchase. Yet in those fifty years, the technology has failed to advance to a place where it can be used for the interconnected and autonomous age. GPS in cars and phones is accurate only to a few meters (or worse, if supporting systems like cellular, bluetooth, and wifi are unavailable) and autonomous vehicles need positioning service that works to the foot or inches in busy conditions. Enter in any kind of environmental factor that might limit LiDAR or computer vision and positioning services become even more important. That’s the kind of problem Brian Manning, Tyler Reid, and their fellow cofounders set out to solve in building Xona Space Systems, a cubesat technology company developing precision and navigation for the autonomous age. Brian and Tyler both grew up in regions with blinding blizzards and quickly realized at SpaceX and Ford (respectively) that if we want to enter an era of autonomous vehicles, somebody must develop a better, more accurate technology than GPS. Since setting out to launch Xona last year, the team has grown to 10 rocket scientists from Blue Origin, Loral Space Systems, SpaceX, and Pumpkin Space Systems. Xona is already working on commercial applications of their Xona Pulsar technology and is preparing for orbital tests in coming years. At 1517 Fund, we’re always looking to partner with teams that are working on big leaps in technological progress and the Xona Team is doing exactly that. Some thinkers, like economist Mariana Mazzucato , point to government agencies as being the driving forces behind innovation, with GPS being the prime example. The Department of Defense did make a huge leap in developing GPS for the modern world — but it’s time to build something better. We’re excited to support Xona in doing exactly that.

1517 Fund Investments

41 Investments

1517 Fund has made 41 investments. Their latest investment was in Space Perspective as part of their Series A on October 10, 2021.

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1517 Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/14/2021

Series A

Space Perspective

$40M

No

7

9/24/2021

Series A

Xonaspace

$8M

No

2

7/15/2021

Series A

Lambda Labs

$15M

Yes

3

12/16/2020

Seed VC

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$99M

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10

12/7/2020

Series A

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$99M

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10

Date

10/14/2021

9/24/2021

7/15/2021

12/16/2020

12/7/2020

Round

Series A

Series A

Series A

Seed VC

Series A

Company

Space Perspective

Xonaspace

Lambda Labs

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Amount

$40M

$8M

$15M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

7

2

3

10

10

1517 Fund Portfolio Exits

2 Portfolio Exits

1517 Fund has 2 portfolio exits. Their latest portfolio exit was Luminar Technologies on December 03, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/3/2020

Reverse Merger

$991

12

00/00/0000

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10

Date

12/3/2020

00/00/0000

Exit

Reverse Merger

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Companies

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Valuation

$991

Acquirer

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Sources

12

10

1517 Fund Fund History

8 Fund Histories

1517 Fund has 8 funds, including 1517 Fund - SPV D.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/4/2020

1517 Fund - SPV D

$3.65M

1

12/4/2020

1517 Fund - SPV E

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$99M

10

12/3/2020

1517 Fund I - SPV A

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$99M

10

11/23/2020

1517 Fund I - SPV B

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$99M

10

11/23/2020

1517 Fund I - SPV C

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$99M

10

Closing Date

12/4/2020

12/4/2020

12/3/2020

11/23/2020

11/23/2020

Fund

1517 Fund - SPV D

1517 Fund - SPV E

1517 Fund I - SPV A

1517 Fund I - SPV B

1517 Fund I - SPV C

Fund Type

Subscribe to see more

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Subscribe to see more

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Status

Amount

$3.65M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

1517 Fund Team

2 Team Members

1517 Fund has 2 team members, including current General Partner, Michael P. Gibson.

Name

Work History

Title

Status

Michael P. Gibson

General Partner

Current

Danielle Strachman

General Partner

Current

Name

Michael P. Gibson

Danielle Strachman

Work History

Title

General Partner

General Partner

Status

Current

Current

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