Spark Capital

Spark Capital was launched in 2005 by Paul Conway, Santo Politi, and Todd Dagres.{{cite web|url = http://www.sparkcapital.com/team|title = Team|publisher = Spark Capital|access-date = January 24, 2014|archive-date = February 20, 2014|archive-url = https://web.archive.org/web/20140220114008/http://www.sparkcapital.com/team/|url-status = live}}Today the firm manages assets north of $12 billion. They have raised eight early-stage funds: US$265 million in 2005; $360 million in 2008; $360 million in 2010; $450 million in 2013;{{cite web|url = https://techcrunch.com/2013/02/25/boston-based-vc-firm-and-early-twitter-investor-spark-capital-raises-450m-for-fourth-fund/|title = Boston-Based VC Firm And Early Twitter Investor Spark Capital Raises $450M For Fourth Fund|last = Rao|first = Leena|date = February 25, 2013|access-date = January 24, 2014|archive-date = January 22, 2014|archive-url = https://web.archive.org/web/20140122021104/http://techcrunch.com/2013/02/25/boston-based-vc-firm-and-early-twitter-investor-spark-capital-raises-450m-for-fourth-fund/|url-status = live}} $400 million in 2016; $450 million in 2019; $700M in 2021; and $700M in 2024.{{cite web | url=https://www.wsj.com/articles/spark-raises-1-35-billion-to-find-the-next-plaid-or-slack-11580385600 | title=Spark Raises $1.35 Billion to Find the Next Plaid or Slack | website=The Wall Street Journal | last=Roof | first=Katie | date=January 30, 2020 | access-date=June 21, 2020 | archive-date=July 7, 2020 | archive-url=https://web.archive.org/web/20200707235342/https://www.wsj.com/articles/spark-raises-1-35-billion-to-find-the-next-plaid-or-slack-11580385600 | url-status=live }}They have also raised five growth funds: $375 million in 2014;{{cite news|url = https://blogs.wsj.com/venturecapital/2014/11/06/spark-capitals-new-growth-fund-aims-to-catch-the-ones-that-got-away/|title = Spark Capital's New Growth Fund Aims to Catch the Ones That Got Away|last = Basich|first = Zoran|newspaper = Wall Street Journal|date = November 6, 2014|access-date = April 26, 2017|archive-date = April 27, 2017|archive-url = https://web.archive.org/web/20170427102440/https://blogs.wsj.com/venturecapital/2014/11/06/spark-capitals-new-growth-fund-aims-to-catch-the-ones-that-got-away/|url-status = live}} $600 million in 2016;{{cite web|url = https://techcrunch.com/2016/11/14/spark-capital-suddenly-has-1-billion-to-invest/|title = Spark Capital suddenly has $1 billion to invest|last = Loizos|first = Connie|date = November 14, 2016|access-date = April 26, 2017|archive-date = April 27, 2017|archive-url = https://web.archive.org/web/20170427102844/https://techcrunch.com/2016/11/14/spark-capital-suddenly-has-1-billion-to-invest/|url-status = live}}$900 million in 2019; $1.4B in 2021; and $1.4B in 2024.

Spark Capital was founded in 2005 by Bijan Sabet, Paul Conway, Santo Politi, and Todd Dagres. Other people who have joined the company since its inception include Jeremy Philips, Alex Finkelstein, Yasmin Razavi, Will Reed and Nabeel Hyatt. The company consists of approximately 11{{En dash}}50 employees.https://www.linkedin.com/company/spark-capital-llc {{Webarchive|url=https://web.archive.org/web/20120806030320/http://www.linkedin.com/company/spark-capital-llc |date=August 6, 2012 }} {{Self-published source|date=June 2022}}

Spark Capital has been known for co-investing with Union Square Ventures. Many of Spark Capital's early picks, including Twitter, Tumblr, and Foursquare, were made via partner Bijan Sabet and were joint investments with Union Square Ventures, made by partner Fred Wilson.{{cite web|url = http://www.cbinsights.com/blog/trends/spark-capital-union-square-ventures|title = Spark Capital and Union Square Ventures – So Happy Together: While USV and Spark are obviously BFFs, who else most frequently co-invests alongside these firms?|publisher = CB Insights|date = May 23, 2013|access-date = January 24, 2014|archive-date = January 16, 2014|archive-url = https://web.archive.org/web/20140116043951/http://www.cbinsights.com/blog/trends/spark-capital-union-square-ventures|url-status = live}}{{cite news|url = https://techcrunch.com/2013/09/13/ask-a-vc-early-twitter-investor-and-spark-capital-partner-bijan-sabet-on-founder-personality-investment-syndicates-and-more/|title = Ask A VC: Early Twitter Investor And Spark Capital Partner Bijan Sabet On Founder Personality, Investment Syndicates And More|last = Rao|first = Leena|date = September 13, 2013|access-date = January 24, 2014|work = TechCrunch|archive-date = January 24, 2014|archive-url = https://web.archive.org/web/20140124101033/http://techcrunch.com/2013/09/13/ask-a-vc-early-twitter-investor-and-spark-capital-partner-bijan-sabet-on-founder-personality-investment-syndicates-and-more/|url-status = live}}{{cite web|url = http://www.pehub.com/2013/05/union-square-spark-capital-ventures-new-power-couple-2/|title = Union Square & Spark Capital: Venture's New Power Couple?|last = Glasner|first = Joanna|date = May 22, 2013|access-date = January 24, 2014|publisher = peHUB|archive-date = February 1, 2014|archive-url = https://web.archive.org/web/20140201211518/http://www.pehub.com/2013/05/union-square-spark-capital-ventures-new-power-couple-2/|url-status = live}}{{cite web|url = http://www.avc.com/a_vc/2009/03/coinvestors.html|title = Co-investors|publisher = A VC|last = Wilson|first = Fred|authorlink = Fred Wilson (financier)|date = March 31, 2009|access-date = January 24, 2014|archive-date = February 1, 2014|archive-url = https://web.archive.org/web/20140201141617/http://www.avc.com/a_vc/2009/03/coinvestors.html|url-status = live}} Sabet says that Spark Capital's portfolio companies do not use non-compete agreements, which he says have been a key factor in limiting startup growth in New York and Boston.{{cite news|url = http://betaboston.com/news/2014/07/11/bijan-sabet-on-spark-capitals-noncompetes-approach-our-companies-dont-have-them/|title = Bijan Sabet on Spark Capital's noncompetes approach: Our companies don't have them|last = Keohane|first = Dennis|date = July 11, 2014|access-date = July 11, 2014|publisher = BetaBoston|archive-date = July 13, 2014|archive-url = https://web.archive.org/web/20140713061051/http://betaboston.com/news/2014/07/11/bijan-sabet-on-spark-capitals-noncompetes-approach-our-companies-dont-have-them/|url-status = live}}

Spark is has been an early institutional investor in:

• Affirm:{{Cite web |last=Shieber |first=Jonathan |date=2015-05-06 |title=Max Levchin's Lending Startup Affirm Raises $275M In Equity And Debt |url=https://techcrunch.com/2015/05/06/max-levchins-lending-startup-affirm-raises-275m-in-equity-and-debt/ |access-date=2025-03-05 |website=TechCrunch |language=en-US}} Spark Capital led the series B, with Jeremy Philips joining the board. {{Cite web |title=Spark Capital Leads $275M Investment in Affirm {{!}} PitchBook |url=https://pitchbook.com/newsletter/spark-capital-leads-275m-investment-in-affirm |access-date=2025-03-05 |website=pitchbook.com |language=en}}
• Anthropic:{{Cite web |title=Anthropic Raises $450 Million in Series C Funding to Scale Reliable AI Products |url=https://www.anthropic.com/news/anthropic-series-c |access-date=2025-03-05 |website=www.anthropic.com |language=en}}{{Cite web |title=OpenAI Rival Anthropic Raises Funding at $4.1 Billion Valuation |url=https://www.theinformation.com/articles/openai-rival-anthropic-raises-funding-at-4-1-billion-valuation?rc=eyuqwf |access-date=2025-03-05 |website=The Information |language=en}} Yasmin Razavi, the company's General Partner at Spark Capital led the Series C (first institutional VC round) in 2022.
• The Bot Company: Kyle Vogt's venture after Cruise, Nabeel Hyatt co-led the $150M series A.{{Cite web |title=Cruise Cofounder Kyle Vogt Raises $150 Million For New Robot Startup |url=https://www.theinformation.com/briefings/cruise-cofounder-kyle-vogt-raises-150-million-for-new-robot-startup?rc=eyuqwf |access-date=2025-03-05 |website=The Information |language=en}}
• Coinbase{{Cite web |title=Coinbase raises $100M Series D led by IVP |url=https://www.coinbase.com/blog/coinbase-raises-100m-series-d-led-by-ivp |access-date=2025-03-05 |website=www.coinbase.com |language=en}}
• Cruise: Spark Capital invested in Cruise in the Series A funding round, and the company's General Partner Nabeel Hyatt joined the board of directors.{{cite web |author= |date= |title=cruise spark capital - Google Search |url=https://www.google.com/search?q=cruise+spark+capital |url-status=live |archive-url=https://web.archive.org/web/20230813210619/https://www.google.com/search?q=cruise+spark+capital |archive-date=August 13, 2023 |access-date=April 14, 2019 |website=www.Google.com}}
• Deel: Spark Capital led the Series B in 2020, the company's General Partner, Yasmin Razavi joining the board.
• Discord: Spark Capital invested in multiple funding rounds of a gamer chat tool Discord, with General Partner Nabeel Hyatt joining the board as an observer.{{Cite news |last=Needleman |first=Rolfe Winkler and Sarah E. |date=2018-04-19 |title=Discord Valued At $1.65 Billion In New Funding Round |url=https://www.wsj.com/articles/discord-valued-at-1-65-billion-in-new-funding-round-1524163751 |url-status=live |archive-url=https://web.archive.org/web/20210818104431/https://www.wsj.com/articles/discord-valued-at-1-65-billion-in-new-funding-round-1524163751 |archive-date=August 18, 2021 |access-date=2021-08-18 |work=Wall Street Journal |language=en-US |issn=0099-9660}}{{Cite web |date=2021-03-22 |title=Discord exploring sale that could be worth more than $10 billion |url=https://venturebeat.com/2021/03/22/discord-exploring-sale-that-could-be-worth-more-than-10-billion/ |url-status=live |archive-url=https://web.archive.org/web/20210818104431/https://venturebeat.com/2021/03/22/discord-exploring-sale-that-could-be-worth-more-than-10-billion/ |archive-date=August 18, 2021 |access-date=2021-08-18 |website=VentureBeat |language=en-US}}
• Oculus: Spark capital invested in Oculus VR in both Series A and Series B funding rounds, which was subsequently sold to Facebook for an estimated $2 billion.{{cite web |last=Garland |first=Russ |date=March 26, 2014 |title=Facebook Buys Oculus: Latest Win for Hot Venture Firm Spark Capital |url=https://blogs.wsj.com/venturecapital/2014/03/25/facebook-buys-oculus-latest-win-for-hot-venture-firm-spark-capital/ |url-status=live |archive-url=https://web.archive.org/web/20170519174849/https://blogs.wsj.com/venturecapital/2014/03/25/facebook-buys-oculus-latest-win-for-hot-venture-firm-spark-capital/ |archive-date=May 19, 2017 |access-date=April 14, 2019 |website=WSJ.com}} The company's General Partner Santo Politi joined the board of directors.{{cn|date=December 2021}}
• Slack{{Cite news |last=Roof |first=Katie |date=2020-01-30 |title=Spark Raises $1.35 Billion to Find the Next Plaid or Slack |url=https://www.wsj.com/articles/spark-raises-1-35-billion-to-find-the-next-plaid-or-slack-11580385600 |access-date=2025-03-05 |work=Wall Street Journal |language=en-US |issn=0099-9660}}
• Twitter: Bijan Sabet, the partner at Spark Capital, invested in Twitter's second (Series B) round in June 2008, along with Jeff Bezos and additional investments from past investors such as Fred Wilson of Union Square Ventures, and Sabet also accepted a board seat at Twitter.{{cite web|url = https://blog.twitter.com/2008/welcoming-bijan-and-jeff|title = Welcoming Bijan and Jeff|date = June 24, 2008|access-date = January 24, 2014|publisher = Twitter blog|last = Stone|first = Biz|authorlink = Biz Stone|archive-date = February 26, 2014|archive-url = https://web.archive.org/web/20140226144716/https://blog.twitter.com/2008/welcoming-bijan-and-jeff|url-status = live}} According to Hatching Twitter, Sabet and Wilson played a crucial role in facilitating smooth leadership changes at Twitter in October 2008 and later October 2010—ousting Jack Dorsey to install Evan Williams in 2008 and ousting Williams to install Dick Costolo in 2010.{{cite book|title = Hatching Twitter|url = https://archive.org/details/hatchingtwitter00nick|url-access = registration|last = Bilton|first = Nick|year = 2013|publisher = Portfolio Hardcover|isbn = 9781591846017}}
• Tumblr: Spark Capital was one of the early investors in Tumblr, where they co-invested with Union Square Ventures, paying the same amount for the same share, with Bijan Sabet as the assigned partner from Spark Capital.{{cite news|url = https://techcrunch.com/2010/04/20/tumblr-funding/|title = Union Square, Spark Capital Double Tumblr's Funding To $10 Million|last = Wauters|first = Robin|date = April 20, 2010|access-date = January 24, 2014|work = TechCrunch|archive-date = January 22, 2014|archive-url = https://web.archive.org/web/20140122021527/http://techcrunch.com/2010/04/20/tumblr-funding/|url-status = live}} Following the sale of Tumblr to Yahoo! for $1.1 billion, Spark Capital and Union Square Ventures each took home $192 million from the deal.{{cite web|url = http://www.businessinsider.com/early-tumblr-investors-usv-and-spark-capital-got--192-million-each-from-yahoo-sale-2013-5|title = Early Tumblr Investors USV And Spark Capital Got ~ $192 Million Each From Yahoo Sale|last = Shontell|first = Alyson|date = May 22, 2013|access-date = January 24, 2014|website = Business Insider|archive-date = February 3, 2014|archive-url = https://web.archive.org/web/20140203122735/http://www.businessinsider.com/early-tumblr-investors-usv-and-spark-capital-got--192-million-each-from-yahoo-sale-2013-5|url-status = live}}{{cite web|url = https://www.bostonglobe.com/business/2013/05/20/boston-spark-capital-wins-big-tumblr-deal/pwQWLtqavcL0Mpb8XxVRPO/story.html|title = Sale of Tumblr set to deliver big payday for Spark|last = Farrell|first = Michael|work = Boston Globe|date = May 21, 2013|access-date = January 24, 2014|archive-date = February 1, 2014|archive-url = https://web.archive.org/web/20140201175229/http://www.bostonglobe.com/business/2013/05/20/boston-spark-capital-wins-big-tumblr-deal/pwQWLtqavcL0Mpb8XxVRPO/story.html|url-status = live}}

• Carta{{cn|date=April 2025}}
• Framework Computer

{{Cite web |author=Nirav Patel |date=2022-06-16 |title=Framework's Series A and the Years Ahead |url=https://frame.work/blog/frameworks-series-a-and-the-years-ahead |access-date=2024-10-21 |website=Framework Blog}}

• Plaid{{Cite web |last=Balogh |first=Shannen |title=Plaid just raised $425 million at a $13.4 billion valuation, bringing on new investors Altimeter, Silver Lake, and Ribbit as it eyes an eventual IPO |url=https://www.businessinsider.com/plaid-raises-425-million-series-d-fintech-silver-lake-ribbit-2021-4 |access-date=2025-03-05 |website=Business Insider |language=en-US}}
• Postmates{{cn|date=April 2025}}
• Scale AI{{cn|date=April 2025}}
• Ramp{{cn|date=April 2025}}

{{Reflist|2}}

• {{Official website|http://www.sparkcapital.com}}

{{Private equity and venture capital|state=collapsed}}

Category:Financial services companies established in 2005

Category:Venture capital firms of the United States

Category:Companies based in Boston

Category:Companies based in San Francisco