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Superscout

Overview

Spearhead is a program created by Jeff Fagnan (Accomplice) and Naval Ravikant (AngelList co-founder) to mentor leading founders into becoming the next generation of angel and seed investors. Unlike traditional scout programs that generate dealflow for VCs, Spearhead builds full-fledged VCs—putting founders in the investing business with their own funds.

Investment focus

Spearhead's thesis is "founders backing founders": current technology founders have the networks, context, empathy, and market knowledge to identify and support early-stage companies. The FAQ and contract emphasize being first money in, leading deals in one's domain or long-standing relationships, and keeping average portfolio pre-money valuation below $15M.

Program details

Follow their podcast: Apple Breaker Google LinkedIn Overcast Spotify Twitter YouTube. You can also be notified when new applications open here.

Who it is for

The FAQ says applicants should be current founders of technology companies with deep market knowledge; the typical founder has raised a Series Seed or later from notable VCs. Spearhead focused on Silicon Valley, Los Angeles, New York City, Boston, and nearby areas, while considering exceptional founders elsewhere.

Check if you are eligible

Check your eligibility for Spearhead Scout Program

Admissions and application

The FAQ says Spearhead reviews applications, invites fitting applicants to interview, conducts interviews remotely, and tells applicants whether they were accepted approximately three weeks after interview.

Benefits

Selected founders received investment authority, not just a badge. The FAQ says each founder starts with a $2M fund, with a first $1M tranche and a second $1M tranche after following the contract and investing guidelines. The contract page says exceptional participants may receive a second fund up to $10M and that follow-on capital is available for breakout companies, up to $25M for exceptional companies.

Timeline

Spearhead opened applications for cohort 5 in September 2021 and announced that new funds were doubling to $2M.

What came of it

Spearhead has a strong reputation due to its backing by Accomplice and AngelList, and its alumni have successfully funded numerous startups.

How to go about it

  1. Read what it asks for

    Who can apply, how people get in and whether it is open right now.

  2. Have something to show

    Programs pick people whose work they can already point to. Put yours where it can be found.

  3. Apply the way the program asks

    The program has not published how to apply. Terms and dates change. Check the official page before you act.

What it pays

Spearhead provides carry in their own funds, not in a fund's scout program slice. The FAQ states that carry is offered and investment authority is granted to participants.

Questions about this program

What criteria were reported for the 2019 cohort?

TechCrunch reported that the 2019 cohort sought current or very recent startup founders in San Francisco, Los Angeles, Boston, or New York City. AngelList said prior angel-investing experience was not required. These describe historical criteria, not current eligibility.

What fund and follow-on opportunities were reported?

AngelList announced $1 million angel funds for the 2019 third cohort and said participants could apply for a $10 million fund after the program. In 2020, TechCrunch reported that LP-selected top performers could receive $5 million to seed rolling funds. These were historical, conditional opportunities, not guaranteed current benefits.

Is Spearhead currently accepting applications?

The available published evidence does not establish current application availability. The application link is documented in AngelList's announcement for the 2019 third cohort.

About Accomplice

Accomplice

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What the sources say about Spearhead Scout Program

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