1517 Fund
ActiveOverview
1517 Fund is a venture capital firm and community organization founded in 2015 that focuses on early-stage investments in technology startups, particularly those founded by college dropouts, students, and deep tech scientists. The firm positions itself as an "anti-establishment educational institution" that provides capital, micro-grants, and community support to founders working outside traditional institutional pathways. It invests primarily in pre-seed and seed-stage companies across software, hardware, and deep tech sectors, with a portfolio spanning SaaS, edtech, fintech, quantum computing, and advanced manufacturing.
History
1517 Fund was founded in 2015 by Danielle Strachman and Michael Gibson, who previously co-founded the Thiel Fellowship with Peter Thiel in 2010. The Thiel Fellowship proved the concept that exceptional founders do not require university degrees, producing notable companies like Ethereum, Figma, OYO Rooms, and Luminar. 1517 Fund was established to scale this model further, expanding the investment and community support beyond the fellowship's $100k grant program. The firm has since raised multiple funds, with 1517 Fund II closing in June 2020 and 1517 Fund IV opening in May 2025, managing committed capital of $175 million.
Product Lines
| Product Line | Positioning | Price Range |
|---|---|---|
| Pre-Seed Grants | Micro-grants for early-stage idea validation | $0 - $100K |
| Seed Funding | Early-stage venture capital for seed-round companies | $100K - $500K |
| Community Platform | Network and resources for hackers, makers, and scientists | Free membership |
Manufacturing
1517 Fund is a venture capital and community organization, not a manufacturing company. It does not produce physical products but rather provides capital, grants, and community infrastructure to support technology startups and founders.
Notable Products
- Thiel Fellowship - Co-founded program that provides $100k grants to young founders pursuing unconventional paths outside traditional education
- 1517 Fund Investment Program - Venture capital fund providing pre-seed and seed-stage investments to dropout and deep tech founders
- Founder Community Platform - Global community of thousands of hackers, makers, renegade scientists, and founders providing networking and support
Reputation
1517 Fund is recognized within venture capital and startup communities for its distinctive focus on uncredentialed founders and its challenge to conventional educational and career pathways. The organization is respected for identifying and supporting early-stage founders who might be overlooked by traditional venture capital, with portfolio companies demonstrating significant innovation potential. Critics note that the fund's anti-establishment positioning, while appealing to certain founder demographics, may limit its appeal to more traditional institutional investors. The firm maintains strong credibility due to its Thiel Fellowship heritage and track record of backing companies that achieved substantial scale and impact.