Founders Fund’s motto of “We wanted flying cars, instead we got 140 characters” bothers some VCs including Spark Capital’s Bijan Sabet who recently said in a fireside chat with Pando that “it really pissed (him) off.”
As Spark was one of the early backers of Twitter, we wanted to look at how many of Twitter’s VC investors, including Spark, shared portfolio companies with Founders Fund. 10 of the 14 VCs who invested in Twitter share a portfolio company with Founders Fund. SV Angel and Andreessen Horowitz share 10 or more.
Founders Fund has invested in over 150 different companies since 2005, and on a unique company basis, Twitter’s VCs have invested in 28% of Founders Fund’s portfolio. If you remove SV Angel and Andreessen Horowitz (some of tech’s most active investors) the figure stands at 13%.
Furthermore, when we look at Founders Fund’s investment syndicate dashboard, we see that SV Angel invests most often in deals with Founders Fund while Andreessen Horowitz also breaks into the top 10 of investors that invest in the same round as Founders Fund. Kleiner Perkins Caufield & Byers is among the top investors investing after Founders Fund – sharing portfolio companies including Practice Fusion, Spotify and Life360.
Want to analyze investment syndicate patterns between investment firms and see who is cozy with each other (and who is not), check out Investor Analytics on CB Insights.
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Photo credit: Alden Jewell // Flickr