Space Exploration Technologies Corp. (SpaceX) designs and manufactures rockets and spacecraft. The company offers launch services through its rockets and global connectivity through its Starlink satellite constellation.

To view our thesis on SpaceX, click here.

Epic Games is a video game and software company that develops and publishes its own video games and offers its game engine technology to other developers. The company’s game engine, Unreal Engine, powers proprietary games such as Fortnite and Rocket League. Notable third-party games using Unreal Engine include PlayerUnknown’s Battleground and Gears of War.

To view our thesis on Epic Games, click here.

OpenAI is at the forefront of a Cambrian explosion in artificial intelligence capability, having produced several of the most influential breakthroughs in foundational AI research, including both the GPT and DALLE series of models, and launching the first major consumer application of generative AI, ChatGPT, which is the fastest application in history to grow to 100 million active users.

Blockdaemon is a cryptocurrency infrastructure provider, focusing on delivering products across three primary categories: node management, staking services, and wallet technology. Blockdaemon’s goal is to deliver enterprises a unified infrastructure for integrated with public blockchain infrastructure. Blockdaemon is estimated to be the world’s largest operator of blockchain nodes, managing over 100,000 nodes in a global, multi-cloud deployment.

To view our thesis on Blockdaemon, click here.

Freenome combines deep learning and novel biomolecular techniques to detect early-stage cancers from a routine, non-invasive blood draw. Freenome has raised $1.1B from investors including a16z (Andreessen Horowitz), GV (Google Ventures), Fidelity, and Roche, to deliver its mission of creating tools that empower everyone to prevent, detect, and treat their disease. The company has announced completion of one of the largest ever clinical studies in 35,000 subjects. Freenome's ecosystem partnerships and digital distribution channels promote a more efficient, less capital-intensive commercial model.

To view our thesis on Freenome, click here.

Relation Therapeutics is a company using artificial intelligence, machine learning and innovative in-vitro disease models to develop novel therapeutics to treat osteoporosis and other bone-related disorders.

Anthropic is an AI startup founded by the former VP of Research at OpenAI. It’s conducting research and building AI products that put safety at the frontier. Its first product, Claude, is a general purpose large language model that leverages Anthropic’s research on Constitutional AI to better align the model and prevent abuse. We believe some companies will opt to train their own AI models, while others will leverage a combination of proprietary and third-party models. In our view, Anthropic’s research on alignment positions it for success as a third-party model provider.

To view our thesis on Anthropic, click here.

Discord is a casual communications platform that enables its individual users and groups/organizations to communicate via text, audio, and video. Through its comprehensive set of features, integrations, and helper bots, Discord enables communities to customize their servers and channels to their liking, allowing the platform to service a wide range of communication needs, from small-group casual socialization all the way to small to medium enterprise (SME) collaboration.

To view our thesis on Discord, click here.

Figure Robotics is an artificial intelligence robotics company that is building a multi-purpose humanoid form robot. Figure’s goal is to deploy autonomous humanoid workers to support humans on a global scale.

Drone delivery company Zipline operates in Africa, the US, and Japan, providing instant delivery service to businesses and customers through its Platform 1 (P1) and recently announced P2 drone systems. The company plans to deliver healthcare, food, and e-commerce items via drone.

To view our thesis on Zipline, click here.

Databricks is a software platform that helps its customers unify their analytics across the business, data science, and data engineering. It also provides a Unified Analytics Platform for data science teams to collaborate with data engineering and lines of business to build data products.

Tenstorrent, a semiconductor startup, is pioneering the development of high-performance CPU and AI chips. Distinctively, their technology is grounded in the open-source RISC-V instruction set. This approach provides a welcome alternative to the closed-source ecosystems, and subsequent vendor lock-in, that is traditional in the semiconductor industry. Their business model is focused on monetizing through intellectual property (IP) licensing and the sale of AI accelerators. Future plans include expanding into the chiplet market, which suggests a strategy geared towards modular and versatile chip designs.

Hammerspace provides a global data environment (GDE), through which globally distributed teams of developers can access and manipulate data as if it was locally stored, despite that data existing in a distributed cloud of varying storage types and locations. This is done via a shared metadata layer that bridges storage vendor silos, allowing for a "data-centric" approach to data, rather than the existing "storage-centric" approach that relies on creating copies and forks to distribute data.

To view our thesis on Hammerspace, click here.

Shield AI is developing a proprietary autonomous software, or artificial intelligence pilot suite called Hivemind which the company intends to be a user-friendly autonomous software that is portable across several aircraft, and eventually able to be operated by a untrained person or soldier vs. an AI engineer. Shield AI currently serves multiple government programs of record through the provision of its indoor drone Nova 2, and its vertical take-off landing (VTOL) aircraft the V-BAT, both using the Hivemind software.

To view our thesis on Shield AI, click here.

Mythical Games provides a comprehensive suite of tools to enable video game publishers/developers and third-party brands to launch blockchain-based games, as well as publishing first-party games of its own. The Mythical Marketplace enables peer-to-peer transactions of digital assets in a secure and trusted environment via integration to blockchain game inventory, provision of fraud prevention, fee optimization, buyer and seller price recommendations, and support of both fiat and crypto transactions.

To view our thesis on Mythical Games, click here.

Replit is a modern browser-based coding platform with an embedded AI coding assistant. The platform is used by millions of developers around the world and recently launched Bounty, a marketplace for coding projects. Replit was co-founded by programmers Amjad Masad, Faris Masad, and designer Haya Odeh in 2016 and is based in San Francisco, California.

To view our thesis on Replit, click here.

10X Genomics (TXG) is the leading provider of single-cell sequencing hardware, consumables, and software, comprising the core of its business. More recently, 10X has made a dedicated push to expand beyond single-cell sequencing and into digital spatial profiling and imaging with its Visium and in situ imaging platforms. The company uses the familiar razor+razor blade+cloud software model. Its Chromium platform uses microfluidic channels to partition millions of single cells before indexing them for use on an Illumina sequencer. 10X offers bespoke analytics tools accessible via web browser to help reconstruct single cell readouts. Recently, 10X enabled Illumina library preparation on its Chromium Connect system to make readout even easier for users. 10X is continuing to drive innovation by making it easier to work with degraded sample types, engage in high-throughput, single-cell screening, and analyze data from the cloud.

Chipper Cash is a fintech company offering financial products to consumers and businesses across Africa. On the consumer side, Chipper offers a digital wallet with various financial products, including cross-border payments, access to crypto currencies and virtual cards. The company offers payment solutions to merchants across Africa, including Chipper’s network API and Chipper Checkout.

To view our thesis on Chipper Cash, click here.

Gamefam is one of the leading publishers building games for Roblox, Fortnite and other user generated content (UGC) based platforms. Gamefam deploys a two-pronged approach to game development through both merger and acquisitions (M&A) and brand partnerships.

X.AI Corp., doing business as xAI, is artificial intelligence (AI) startup. Founded by Elon Musk in March 2023, its stated goal is "to understand the true nature of the universe".

Supersocial is an independent video game and user experience (UX) studio focused on creating games for the metaverse, starting with Roblox.

Gatik AI Inc. offers short-haul business to business logistic services to retail industry via a fleet of self-driving trucks. Gatik has previously deployed driverless solutions in the past for customers such as Walmart and Loblaw. Gatik plans to be driver out by the end of 2024 using its scalable hardware in partnership with Isuzu.

Outrider AI is a private company pioneering autonomous yard operations for logistics hubs. With recent advancements in artificial intelligence and robotic manipulation, Outrider AI aims to transform yard operations by automating all aspects, thereby significantly reducing costs and increasing efficiency.

Boom Supersonic is a pioneering aerospace company founded with the goal of making supersonic air travel accessible and mainstream. Based in Denver, Colorado, Boom is focused on designing and building the world's fastest commercial airliner, aiming to significantly reduce flight times on key international routes.

CRISPR Therapeutics (CRISPR) was the last of the three main gene editing companies to go public in October 2016 and is headquartered in in Zug, Switzerland, has R&D operations in Cambridge, Massachusetts, and additional business operations in San Francisco, California. CRISPR is a gene-editing company that leverages the revolutionary CRISPR/Cas9 technology by cutting DNA and then letting the natural repair process occur. Dr. Emmanuelle Charpentie, one of the scientific founders, co-invented the CRISPR/Cas9 technology and won the noble prize for her discovery in chemistry with Dr. Jennifer Doudna.

Recursion is a clinical-stage biotechnology company that aims to industrialize drug discovery and development. The company uses technological innovations across biology, chemistry, automation, data science, and engineering to decode biology. Recursion's mission is "to radically improve lives" by discovering drug candidates for rare diseases that currently lack treatments.

Pave.dev is a credit scoring and attribute platform that lenders and debt facilities can use for underwriting decisions and risk analytics. The firm first gained traction as a cashflow underwriting analytics tool, designed to identify healthy borrowers, optimize credit limits, and improve collections outcomes.

To read our investment thesis on Pave, click here.

Atomic Vaults is an early stage, pre-revenue startup that aims to become a white-labeled execution broker and order management system for retail brokerages that want to offer fractional options to their users. Atomic Vaults aims to sit in the middle between retail brokerages such as Robinhood and TD Ameritrade and their clearing firms and market makers such as Citadel Securities and Hudson River Trading.

KINO is an interactive digital cinema application built for mobile and TV. KINO is a tech-driven launchpad for filmmakers to maximize their success through fan community, data, artificial intelligence/machine learning, and better user experience (UX).

Axiom Space operates missions to the International Space Station (ISS) for customers, including space agencies, companies, and individuals. Axiom Space is also the builder and future owner and operator of Axiom Station, the successor to the ISS. Founded in 2016 by Michael T. Suffredini and Kam Ghaffarian, the company first flew a spaceflight in 2022: Axiom Mission 1, the first commercially crewed private spaceflight to the International Space Station.

To view our thesis on Axiom Space, click here.

Lucra offers a white-label gamification product to consumer-facing companies across the in-person entertainment, media, and professional and recreational sports verticals. By embedding Lucra’s technology in their mobile apps and websites, customers can enable end-users to engage in casual peer-to-peer (P2P) betting across viewed and played sports using cash, credits, and on-platform goods and services.

Founded in 2006, X (formerly twitter) is the first mobile-first social network. Its service is the go-to-destination for real time news. It has over 310 million monthly active users worldwide and is used by CEOs, celebrities, religious leaders, and all essentially public organizations. Twitter is based in San Francisco, California and has over 3,000 employees.

To view our thesis on X Corp, click here.

Palantir Technologies is a public American company that specializes in big data analytics. Headquartered in Denver, Colorado, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp in 2003.

Founded in 2004, Shopify is the leading provider of e-commerce front-end software for retailers. For a low monthly fee, merchants can use Shopify to setup an online store that sells across multiple channels. Shopify serves over 370k merchants including major brands like RedBull, Nestle, NYTimes, and Tesla. Shopify is based in Ottawa, Canada and has more than 2,000 employees.

Tesla is an auto manufacturer, an energy storage company, a solar company, and an autonomous software company. Tesla currently offers four cars, the Model S, the Model X, the Model 3, the Model Y. Tesla released the Model 3 sedan in 2017, which is its entrance into the mass-market. In the product pipeline is the Cybertruck, the Tesla Semi, and the updated Roadster, which will be the fastest production car in the world. In the next three years, Tesla plans to offer a $25,000 car. Tesla offers energy storage batteries for both commercial and residential use as well as solar panels and roofs.

Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California, that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies as well as individual retirement accounts via a mobile app introduced in March 2015.

Coinbase is well-known for operating exchanges for 100+ tokens (both in the US and internationally) and the company receives a majority of its revenue from such trading. Users can also stake their assets through Coinbase’s staking-as-a-service product and/or self-custody through Coinbase Wallet. Coinbase has a number of other products for individuals, including Earn, Card, and Borrow.

Roku was originally a Netflix business (founded in 2002), but was spun off in 2007 after the company decided against a branded streaming device. Netflix made the decision to spin off their set-top box into its own company that would end up being called Roku. Netflix would be available on Roku, and Netflix would also pursue other devices that would offer the Netflix app. Roku was then free to put other services, like Amazon Video, on the Roku. Roku began building their first edition players in 2008, it wasn’t until 2013-2014 that the company began offering ROKU TVs. Today, the company has a user base of 46M. As of the first half of 2020, for every three Smart TVs sold in the US, 1 of them is a ROKU branded TV. Roku's main market is the US but has been expanding internationally into markets like the UK and South America.

Humata is an early-stage AI startup that enables users to extract knowledge from files using embeddings, summaries, and labels. Co-founder and CEO Cyrus Khajvandi is a former Stanford researcher and serial entrepreneur, having previously founded Tildamail, dNovo Bio, and Mobius. Co-founder and CTO Dan Rasmuson previously co-founded Labelbox, an AI infrastructure startup that has raised over $100 million from a16z, Kleiner Perkins, and First Round.

To view our thesis on Humata, click here.

Teradyne, Inc. is an American automatic test equipment designer and manufacturer based in North Reading, Massachusetts. Teradyne's high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.

Graft is an artificial intelligence (AI) platform company that allows companies that lack machine learning (ML) engineers and AI infrastructure to build AI-enabled tools through a no-code interface. They do this by packaging the AI infrastructure that larger companies converged around (that is, using a large foundation model to train smaller, more specific models) and providing it as a service, bridging the resource and expertise gap that exists for most companies.

Sortium AI is a cutting-edge artificial intelligence (AI) platform designed for the gaming and virtual production industries. At its core Sortium is a workspace-conditioned AI assistant, which is powered by advanced Large Language Models (LLMs) and Generative AI.

To view our thesis on Sortium, click here.

Firmly makes digital ads and impressions more shoppable with significantly higher conversions. It a multi-patented streamlined checkout experience that requires no changes for the merchant site where the customer is inspired to shop—without redirects, extra clicks or missing data.

Pinterest is an American image sharing and social media service designed to enable saving and discovery of information on the internet using images, and on a smaller scale, animated GIFs and videos, in the form of pinboards.

Archer Aviation is a company headquartered in San Jose, California, which is developing eVTOL (electric vertical take-off and landing) aircraft. Its eVTOL aircraft are planned to transport people in and around cities in an air taxi service and are claimed to have a range of up to 100 miles at speeds of up to 150 miles per hour.

Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution that provides services and infrastructure to power the human co-experience platform. It serves customers in the United States, Canada, Europe, the Asia-Pacific, and internationally. Roblox Corporation was incorporated in 2004 and is based in San Mateo, California.

Block Inc, formerly Square, is a financial technology company founded with a mission to deliver economic empowerment for small businesses. Square broke into fintech in 2009 with its credit card acceptance solution and since has expanded into other financial services both on the seller as well as consumer side. The company not only provides advanced POS card readers that are becoming ubiquitous in the US, but also offers other value-added services such as analytics, payroll and lending. Its consumer product, Cash App, is one of the largest and fastest growing digital wallets in the US.

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. The company distributes its product offerings through various channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. DraftKings Inc. is headquartered in Boston, Massachusetts.

Flexport is a tech-enabled platform that helps customers manage their supply chain. The company arranges goods to be transported and subsequently tracks the inventory in real-time in orders carried by the ocean, air, and road freight, enabling logistics companies to optimize transportation routes and inventory management.

To view our thesis on Flexport, click here.