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Gigafund
Luke Nosek's Gigafund writes concentrated, decades-long checks into companies rebuilding planetary infrastructure — from SpaceX to AI compute.
Gigafund
Gigafund was founded in 2017 by Luke Nosek, a founding partner of Founders Fund and member of the PayPal Mafia, alongside Stephen Oskoui, a former partner at the same firm. Nosek's track record includes early investments in SpaceX and an early-stage role in the formation of the venture capital firm that backed Palantir and Anduril. Gigafund emerged not as a spinout in conflict but as a vehicle for a specific conviction: that a tiny number of companies possess both the ambition and the technical capacity to reorganize fundamental human systems — energy, transportation, space, intelligence — and that those companies need a capital partner structured to match their exceptional timelines. The firm pursues an extreme-conviction, low-volume deployment model, targeting three asset classes: deep-tech venture, space infrastructure, and hard-science commercialization. It operates almost entirely through direct equity, often as a lead or co-lead, and is built to write initial checks that can surpass $50 million, with reserves to double down across a company's long private lifecycle. Gigafund does not run a conventional fund-of-funds program and does not syndicate broadly; its bets are proprietary and relationship-sourced. Publicly confirmed portfolio companies include SpaceX, where Nosek has maintained a position since the company's earliest fundraising rounds, and Relativity Space, the 3D-printed rocket manufacturer. Additional named exposures span AI infrastructure and next-generation compute platforms, reflecting an investment geography anchored in the U.S. but extending to frontier-hardware clusters across North America and Europe. The firm is deliberately lean. Headcount remains intentionally small — its partnership manages a concentrated portfolio that likely numbers fewer than 15 active positions. Gigafund operates a single office in Austin, Texas, a location chosen partly to separate itself from the Bay Area venture orthodoxy and partly to reflect Nosek's personal migration. The firm has not announced any parallel philanthropic vehicle, Tiger 21 membership, or formal co-investor club, though its LPs are understood to include a small group of ultra-high-net-worth individuals and institutions that share its endurance-capital philosophy. In 2022, Gigafund participated in SpaceX's $250 million equity round, reinforcing its multi-decade commitment to its most significant portfolio company. Structurally, Gigafund is not a family office but its architecture borrows heavily from a permanent-capital mindset. Its flexibility to hold concentrated positions without a defined fund-life horizon — and without the pressure of distributing stock to LPs at IPO — separates it from formulaic venture firms. The partnership is anchored by Nosek's SpaceX relationship, a board seat, and a sourcing model that is fundamentally top-of-funnel narrative defined: founders capable of risking a decade of their lives on outcomes most investors refuse to underwrite find Gigafund, not the other way around.
General information
Firm type
Private Equity
Year founded
2017
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Austin
Corporate office
Austin, TX, United States
Principals
Luke Nosek
Co-Founder
Stephen Oskoui
Co-Founder & Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Gigafund?
Luke Nosek and Stephen Oskoui lead all investment decisions, drawing on Nosek's three-decade network originating with the PayPal Mafia and his founding role at Founders Fund. Oskoui, a former Founders Fund partner, manages the firm's sourcing and diligence process. The partnership operates without a formal IC of external members — decisions are relationship-driven and concentrated among the co-founders.
How does Gigafund source proprietary deal flow?
Gigafund sources almost entirely through the extended networks of its founders — particularly Nosek's board-level relationships at SpaceX and his reputation among founders building multi-decade infrastructure companies. The firm's model relies on being the first call for founders who have already succeeded at scale and are launching their next venture. Inbound conventional deal flow is largely irrelevant to the strategy.
Is Gigafund structured as a single family office or does it operate more like a venture firm?
Gigafund is structured as a venture capital firm, not a family office, though its patient-capital posture and concentrated portfolio borrow from the permanent-capital mindset of single-family offices. The founding partners raised outside capital from institutional and high-net-worth limited partners but structured the funds to permit the multi-decade holds typical of family office direct investing rather than the five-to-seven-year venture liquidity cycle.
Does Gigafund participate in fund commitments or only direct deals?
Gigafund operates almost exclusively through direct equity investments and does not maintain a fund-of-funds allocation or a manager-seeding program. The firm's entire operational thesis is built around backing fewer than 15 companies with large, concentrated checks that can exceed $50 million — a scale that only makes sense in the context of direct principal deployment.
What investment stages does Gigafund typically target?
Gigafund deploys across startup, early-stage, and growth rounds but with a minimum-check scale that skews its practice toward companies that have already raised significant prior venture financing. The defining characteristic is not a specific stage label but an assessment of whether the company can absorb and deploy $50 million to $100 million productively against a multi-decade infrastructure-building roadmap.
Which sectors does Gigafund explicitly avoid?
Gigafund avoids sectors it considers structurally incapable of supporting multi-decade, planetary-scale outcomes — software-as-a-service with moderate total addressable markets, short-cycle consumer, and conventional enterprise tools are absent from its portfolio. The firm has stated that only markets measured in the hundreds of billions or trillions of dollars are in scope, which functionally excludes nearly all venture categories outside frontier hardware, space, energy, and AI.
What is Gigafund's known posture on co-investments alongside external GPs?
Gigafund regularly co-invests alongside major venture and growth-equity firms on its largest positions — SpaceX rounds have included participation from Andreessen Horowitz, Fidelity, and other top-tier investors. The firm does not run a club-deal program or formal co-investment vehicle for limited partners, preferring to allocate pro-rata rights internally.
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