Spearhead
Spearhead is a US-based fund program founded in 2018 by Jeff Fagnan and Naval Ravikant that recruits Tier-1-backed technical founders and provides each with a $2M angel fund, earning revenue through carry on fund profits.
- Company typePrivate
- Founded-
- HeadquartersLittleton, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Spearhead does
Spearhead is a US-based fund program founded in 2018 by Jeff Fagnan (founder of Accomplice) and Naval Ravikant (founder of AngelList), designed to recruit technical founders backed by Tier 1 investors and equip them with their first angel fund. Accepted founders receive an initial $2M fund, eligibility for a second fund of up to $10M, and access to follow-on capital of up to $25M for breakout portfolio companies; participation carries no fees and operates on a 'founders backing founders' community model. The program differentiates itself from VC scout programs by giving founders branded funds they control without requiring VC approval for investments. Mentorship is delivered through WhatsApp by Fagnan and Ravikant, while AngelList provides legal and back-office fund administration services. Revenue is generated exclusively through carry on fund profits, a model where realization is contingent on portfolio company exits. As of the most recent disclosed data, 81 founders across cohorts have collectively funded 794 startups with $112M deployed, generating $4B in follow-on capital and 16-17 unicorns from a portfolio representing over $86B in combined founder-company valuation.
Spearhead firmographics
Firmographics- Name
- Spearhead
- Legal name
- Spearhead
- Website
- http://www.spearhead.co
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Spearhead is a US-based fund program founded in 2018 by Jeff Fagnan and Naval Ravikant that recruits Tier-1-backed technical founders and provides each with a $2M angel fund, earning revenue through carry on fund profits.
- Ownership category
- akta.pro rank
Spearhead industry classification
Industry- Product category
- Angel Investing / Founder Fund Program
- NAICS
- Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Private Equity Buyout Fund-of-Funds (FSANAGAD)
Keywords
Where Spearhead is headquartered
LocationHeadquarters
- HQ city
- Littleton
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Spearhead business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Carry on Fund Profits: Founders earn carry on their fund's profit, meaning they get a share of the returns when investments succeed. This is the primary revenue mechanism for the Spearhead program.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Free participation with capital provided |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Spearhead product offering
Product offeringCore offering
Spearhead is a free, community-led program that gives accepted technical founders their first angel fund of $2M to invest in early-stage startups. Founders receive real-time mentorship from co-founders Jeff Fagnan and Naval Ravikant via WhatsApp, back-office and legal administration handled by AngelList, and access to a network of elite founder alumni; top performers can scale to a $10M second fund and access follow-on capital of up to $25M for breakout portfolio companies.
Product overview
Spearhead is a single unified platform/program that provides founders with angel investing education and their first $2M fund to start investing in early-stage startups. The program includes mentorship through WhatsApp, back-office services via AngelList, quarterly portfolio reviews, and access to follow-on capital for breakout companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Spearhead Founder Fund Program A free, community-led program that provides accepted technical founders with a $2M initial angel fund to invest in early-stage startups, real-time mentorship from co-founders Jeff Fagnan and Naval Ravikant via WhatsApp, back-office and legal administration through AngelList, access to a network of elite founder alumni, and the opportunity to scale into a second fund of up to $10M and access follow-on capital of up to $25M for breakout portfolio companies.
Quantifiable outcome
- 794 startups funded with $112M invested, generating $4B in follow-ons
- +3 more outcomes
Companies that use Spearhead
Customer profileNamed customers11 records
Segments2 records
Ideal customer profiles1 record
Spearhead technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Spearhead partnerships and signals
Strategic signalScale indicators10 records
Recent moves5 records
Expansion highlights4 records
Spearhead competitors and assessment
Company assessmentBroad incumbents
- Tribe Capital: Tribe Capital is a venture firm that uses quantitative methods and community-sourced insights for early-stage investing. While a broader incumbent in venture capital, its network-driven and data-centric approach overlaps conceptually with Spearhead's community-as-edge model.
- Slow Ventures: Slow Ventures is a venture firm known for backing founders early and providing them with platform resources. It overlaps with Spearhead in serving the technical founder community, though it operates a more traditional fund structure.
Direct peers
- AngelList: AngelList, also founded by Spearhead co-founder Naval Ravikant, provides the back-office and fund administration infrastructure for Spearhead's programs. It also runs its own rolling funds and syndicate platform, competing for the same founder-as-investor use case.
- Contrary: Contrary recruits top college students and operators and gives them capital to angel invest, alongside a research platform. It is one of the closest direct competitors to Spearhead's model of providing structured capital to non-traditional investors.
- Hustle Fund: Hustle Fund is a pre-seed venture firm that has built a community of operator-investors and runs programs giving founders capital and education to angel invest. It targets a similar founder-as-LP demographic as Spearhead.
- Village Global: Village Global is a network-led venture firm backed by a community of highly successful founders and operators. It combines community-driven deal sourcing with fund deployment, conceptually similar to Spearhead's founder-backed investing model.
- On Deck: On Deck runs fellowship programs for founders and operators, combining community, education, and capital deployment opportunities. It targets a similar persona of high-caliber early-stage operators and overlaps with Spearhead's founder community focus.
- Pioneer (Y Combinator): Pioneer is Y Combinator's program that gives selected founders their own angel funds to invest in early-stage startups. It is the most direct and well-funded competitor to Spearhead's model.
Emerging players
- Dorm Room Fund: Dorm Room Fund is a student-run venture fund backed by First Round Capital that invests in early-stage companies. While narrower in scope (students rather than elite founders), it represents an earlier-stage version of the same founder-as-investor concept.
- Antler: Antler is a global early-stage venture firm that runs founder-building programs and provides initial capital and mentorship. It targets a similar use case of helping founders start companies and invest in startups, with a global footprint that contrasts with Spearhead's US focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Spearhead social profiles
Digital presenceSpearhead financial estimates
Financial estimateRevenue estimate
Valuation estimate
Spearhead leadership team
Management profileNumber of profiles
Profiles2 records
Spearhead funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Spearhead M&A and investment
M&A and investmentM&A
Investments22 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Spearhead
What does Spearhead do?
Spearhead is a free, community-led program that gives accepted technical founders their first angel fund of $2M to invest in early-stage startups. Founders receive real-time mentorship from co-founders Jeff Fagnan and Naval Ravikant via WhatsApp, back-office and legal administration handled by AngelList, and access to a network of elite founder alumni; top performers can scale to a $10M second fund and access follow-on capital of up to $25M for breakout portfolio companies.
Is Spearhead a public or private company?
Spearhead is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Spearhead founded?
Spearhead was founded in -1. It employs 1 to 10 people.
Where is Spearhead based?
Spearhead is headquartered in Littleton, United States, in the North America region.
How does Spearhead make money?
One revenue line is on record: carry on Fund Profits.
Who are Spearhead's main competitors?
Broad incumbents on record are Tribe Capital and Slow Ventures. Direct peers are AngelList, Contrary, Hustle Fund, Village Global, On Deck and Pioneer (Y Combinator). Emerging players are Dorm Room Fund and Antler.
Does Spearhead have an API?
No public API is recorded for Spearhead.
What industry is Spearhead in?
Spearhead's product category is Angel Investing / Founder Fund Program. Its primary akta.pro industry code is FSANAGAD, Private Equity Buyout Fund-of-Funds. Its NAICS code is 525910 and its SIC code is 6282.