'Can we find the next 40 Facebooks?': Behind the ambitious plans of 137 Ventures

In a bold move to redefine the tech investment landscape, 137 Ventures is making significant waves by focusing on deep tech opportunities that many venture capitalists have overlooked. The firm has carved out a niche by investing in promising startups through the secondary market, acquiring stakes in established companies like SpaceX and Anduril. Christian Garrett, a partner at 137 Ventures, posed a provocative question: "Can we find the next four Facebooks? Or perhaps 40?" This sentiment encapsulates the firm’s ambitious vision of identifying and nurturing generational technology companies over extended timeframes. The firm believes that building concentrated positions in these future giants will yield substantial returns. Garrett’s involvement in the tech scene has also expanded his influence in Washington, D.C. He co-founded the Hill and Valley Forum in 2021, a gathering that connects tech leaders and policymakers to address the challenges posed by China's technological advancements. His role in the recent AI summit highlights his commitment to shaping the future of technology. The inspiration behind Garrett's venture capital aspirations stems from his grandfather, Bernard Garrett, a notable investor and one of the wealthiest Black men in America. This legacy drives Garrett to leverage his position for positive societal impact. His journey into venture capital was influenced by the insights he gained from Peter Thiel's influential book, "Zero to One." Justin Fishner-Wolfson, a co-founder and managing partner at 137 Ventures, brings a strong academic background in computer science from Stanford and insights from his time at Peter Thiel's Founders Fund. Together with S. Alexander Jacobson and Kathy Chan, he established 137 Ventures in 2010. With Garrett joining in 2019, the firm has maintained a focus on secondary markets, recognizing that the trend of companies staying private longer is here to stay. With $6 billion in assets under management, 137 Ventures has positioned itself as a frontrunner in deep tech investments, having been early backers of companies like Palantir and scaling their investments in defense tech. Fishner-Wolfson’s firsthand experience in the industry has allowed the firm to navigate the evolving landscape, particularly in light of shifting sentiments regarding defense technology post-2018. Their current portfolio reflects this strategic focus, including investments in autonomous vehicle startup Applied Intuition and satellite innovator Impulse Space. As they strive to connect with the best companies in the market, 137 Ventures continues to seek out transformative technologies that will shape the future.