Naval Ravikant—Founded Spearhead program to provide startup founders with angel investing capital, broadening investor diversity
In 2018, Naval Ravikant co-founded Spearhead with Jeff Fagnan, an angel investment program that provides successful startup founders with $2M funds to invest as angel investors. The program removes the wealth barrier to angel investing, enabling founders with domain expertise but limited personal liquidity to participate. Across five cohorts, 81 Spearhead leads have invested $112 million into 794 startups, generating $4 billion in follow-on funding. Non-accredited investors can participate.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| DEI Programs | +toward | secondary | +0.50 |
| Knowledge Access & Information Freedom | +toward | primary | +1.00 |
| Overall incident score = | +0.429 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.57)
Evidence (1 signal)
Spearhead program deployed $112M across 794 startups through 81 founder-investors across five cohorts
Spearhead, co-founded by Naval Ravikant and Jeff Fagnan in 2018, provides startup founders with $2M funds to invest as angel investors, removing wealth barriers. The program does not require accreditation. Across five cohorts, 81 leads invested $112M into 794 startups, generating $4B in follow-on funding and 16 unicorns.