1517 Fund

1517 Fund in San Francisco operates as an 'anti-establishment educational institution and venture capital firm' that deliberately targets founders the traditional VC ecosystem overlooks. Founded in 2015 by Danielle Strachman and Michael Dearing, the fund has built a reputation for backing student dropouts and entrepreneurs building ambitious deep tech projects that sound more like science fiction than business plans.

The fund's name references the year Johannes Gutenberg printed the Bible on his revolutionary press — a symbol of how transformative technologies often emerge from outsiders who bypass conventional pathways. Strachman and Dearing, both formerly with the Thiel Foundation, built 1517 around the conviction that breakthrough companies frequently come from people without elite credentials or traditional founder resumes.

What makes 1517 distinctive is their grant program alongside equity investments. The fund issues $50,000 to $100,000 'R&D checks' that do not dilute founders — a structure that reflects their belief that many transformative companies need early capital without the pressure of investor expectations. This approach has attracted founders working on quantum computing, advanced materials, synthetic biology, and other frontier technologies.

The 1517 Summit, their annual community gathering, has become a cornerstone of the portfolio support ecosystem. Founders connect with peers who are similarly building outside the traditional startup path, creating a network effect among portfolio companies working on ambitious, speculative projects. The community extends beyond capital — it's a peer group of technically ambitious founders who understand the challenges of building transformative companies without conventional backing.

Portfolio companies have gone on to achieve remarkable milestones, with several reaching valuations exceeding $100 million. The fund's willingness to write small checks early and build long-term relationships with founders before the company is fully formed has proven effective at identifying exceptional talent at the earliest stages. Their thesis that some of the most transformative companies will come from unexpected places continues to drive their investment approach.

1517 Fund's investment thesis centers on a contrarian belief: some of the most transformative technology companies will be built by founders the traditional venture capital ecosystem systematically overlooks. The fund explicitly targets entrepreneurs without undergraduate degrees, student dropouts, and what they call 'renegade' founders who are building ambitious projects outside conventional career paths.

The fund invests at the extreme earliest stages — pre-seed through seed — with check sizes typically ranging from $50,000 to $100,000 for their unique R&D grant program, scaling up to $250,000 for equity seed rounds when companies demonstrate progress. This structure allows them to write small checks early and maintain relationships with founders before the company is fully formed.

1517 Fund's grant program is unusual in venture capital. These $50,000-$100,000 R&D checks come without the typical dilutive terms, reflecting the fund's belief that many groundbreaking companies need early capital without the pressure of investor expectations. Founders can use these funds for research, prototyping, or initial development without giving up equity.

The firm's community programs, including the annual 1517 Summit and ongoing founder networking, provide ongoing support to portfolio founders. This creates a network effect among founders who are building transformative companies outside the traditional startup path — peers who understand the unique challenges of building ambitious technology without conventional backing.

1517 Fund evaluates opportunities based on founder passion, technical depth, and the ambition of the project rather than traditional metrics like revenue or user growth. They look for founders who demonstrate deep technical expertise and a willingness to work on problems that seem impossible or science-fiction-like. The fund has backed companies working on quantum computing, brain-computer interfaces, advanced energy technologies, and synthetic biology.

Their thesis is that the best founders often do not come from elite backgrounds or traditional career paths, and that the venture capital ecosystem's reliance on networks, credentials, and conventional indicators misses exceptional talent. By explicitly targeting overlooked founder demographics, 1517 Fund accesses deal flow that larger firms miss.

1517 Fund has continued to maintain an active investment pace in recent years, deploying capital across multiple sectors and stages. The firm's portfolio demonstrates a commitment to backing entrepreneurs working on transformative deep technologies that traditional VCs consider too speculative or too early.

Recent investments show the fund remains committed to its core thesis around non-traditional founders and deep tech. The firm has participated in several notable funding rounds, often as the earliest investor when founders are still at the concept or prototype stage.

1517 Fund has been particularly active in the synthetic biology and quantum computing spaces, areas where technical depth and long time horizons are required. The fund's willingness to write small checks at the earliest stages allows them to establish relationships with founders before the company has significant traction.

The firm's ability to maintain deal flow from non-traditional founder communities has been a key factor in its success. 1517 Fund has built relationships with communities of technically ambitious entrepreneurs who might not otherwise have access to venture capital, including founder networks around hackerspaces, research labs, and unconventional academic programs.

Market conditions have influenced 1517 Fund's investment approach, with the fund becoming more selective in some areas while maintaining its core thesis. However, the fund remains committed to its mission of backing exceptional founders who don't fit the traditional VC mold and will continue to invest in companies that meet their rigorous criteria for technical depth and ambition.

1517 Fund's portfolio focuses on deep tech, ambitious scientific projects, and non-traditional founder demographics. Notable successes include multiple companies that have achieved significant valuations while maintaining focus on transformative rather than incremental technology.

One breakthrough came through a quantum computing company working on foundational improvements to qubit stability — the kind of deep tech project that sounds impossible until someone builds it. Another portfolio company has developed advanced battery technology that could significantly improve energy density for electric vehicles, attracting interest from major automotive manufacturers.

The fund has backed several companies in the synthetic biology space, including ventures working on novel approaches to biofuel production and sustainable materials that could displace petroleum-based feedstocks. These long-horizon bets reflect 1517 Fund's thesis that the most transformative companies will take years to build rather than months.

A notable portfolio company is working on next-generation semiconductor materials that could enable significant improvements in computing efficiency. Another is developing novel approaches to carbon capture using engineered biological systems. Both represent the kind of ambitious, science-fiction-like projects that 1517 Fund explicitly targets.

The fund has also invested in AI infrastructure companies building foundational tools for machine learning, including companies working on improved training methodologies and model architectures. The diversity of the portfolio reflects 1517 Fund's belief that transformative technology can emerge from any technical domain.

Portfolio companies benefit from the 1517 Fund community, including the annual Summit, ongoing founder networking, and connections to other investors who share the fund's thesis around non-traditional founders and deep tech. The network effect among portfolio founders creates valuable connections and knowledge sharing among technically ambitious entrepreneurs.

1517 Fund evaluates potential investments based on criteria that differ substantially from traditional venture capital. The fund places primary emphasis on founder passion and technical depth rather than business metrics, recognizing that the most transformative companies often take years to build and require deep expertise to execute.

Technical differentiation is critical to 1517 Fund's investment decision process. The fund seeks founders working on problems that seem impossible or science-fiction-like, with approaches that demonstrate genuine technical innovation rather than incremental improvements to existing solutions.

Founder background matters differently than at traditional VCs. 1517 Fund explicitly looks for founders without undergraduate degrees, student dropouts, and entrepreneurs who have taken non-traditional career paths. The fund believes that exceptional talent can emerge from any background and that the traditional VC ecosystem's reliance on credentials and networks misses exceptional founders.

Project ambition is carefully evaluated by 1517 Fund. The fund looks for founders working on problems that could be transformative if solved — technologies that could reshape industries or create entirely new categories. They prefer founders who think in decades rather than quarters.

1517 Fund considers the scalability of the technical approach, not just the business model. The fund prefers projects with genuine technical moats that could create sustainable competitive advantages over time, rather than business model innovations that could be easily copied.

The fund evaluates whether the founder has the depth of technical expertise required to execute on the ambitious project. 1517 Fund prefers founders who have demonstrated technical mastery in their domain, even if that mastery came through non-traditional pathways rather than formal education.

The best way to connect with 1517 Fund is through their community programs and events. The annual 1517 Summit provides an opportunity for founders to meet the team and other portfolio founders in a less formal setting than a typical pitch meeting.

Warm introductions from existing portfolio founders or others familiar with the 1517 Fund thesis carry significant weight. The fund is more likely to meet with founders who come recommended by community members who understand their approach to earliest-stage investing.

1517 Fund also accepts applications through their website, particularly for their R&D grant program. Given their focus on non-traditional founders, the application process is designed to be accessible to entrepreneurs who might not have conventional pitch backgrounds.

When preparing to connect with 1517 Fund, focus on the technical depth of your project and your personal journey as a founder. The fund invests in people as much as ideas, and they want to understand why you are the right person to work on this specific problem.

For 1517 Fund, the pitch should emphasize your technical approach, the ambition of the project, and your background. They want to see that you are working on something transformative rather than incremental, and that you have the depth to execute on your vision.

Building a long-term relationship with 1517 Fund can be valuable even before you're ready to raise capital. Engaging with their community, attending events, and connecting with other portfolio founders can create natural pathways to investment discussions when the time is right.

While 1517 Fund invests at the earliest stages before traditional metrics are meaningful, they still value financial preparedness. Founders should understand the basic financial mechanics of their business, even if the company is pre-revenue.

Many 1517 Fund portfolio companies are working on deep tech projects that require significant capital and time to develop. Understanding your burn rate, runway, and path to initial revenue can help you make better decisions about how to use the capital you raise.

Working with a fractional CFO can help earliest-stage founders build the financial foundations they need. Even pre-revenue companies benefit from understanding unit economics, cost structures, and the financial implications of different technical approaches.

Our team has helped numerous companies navigate the unique challenges of deep tech fundraising. We understand what investors look for in financial presentations, even at the earliest stages when traditional metrics don't apply.

Financial projections should be realistic and grounded in evidence. 1517 Fund will scrutinize your assumptions about development timelines, capital requirements, and path to initial revenue. Be prepared to explain the basis for your forecasts.

Understanding your key performance indicators (KPIs) is essential when pitching to any investor, including 1517 Fund. Even pre-revenue companies have metrics that matter — development milestones, technical achievements, and resource utilization all provide signals about company progress.

Whether you're preparing to pitch 1517 Fund or other deep tech investors, having professional financials can set you apart from the competition. Our team understands what ambitious, technical investors look for and can help you build the financial infrastructure needed to communicate your project's progress and requirements.

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