Spearhead Scout Program
Transforming founders into the next generation of angel and seed investors.
Scout ProgramClosedHybridPart TimeHybrid
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
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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.
See if you are eligible
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.
Outcomes and track record
Spearhead has a strong reputation due to its backing by Accomplice and AngelList, and its alumni have successfully funded numerous startups.
How to approach this opportunity
- Understand the program
Review who can apply, how the process works, and whether applications are currently open.
- Build relevant evidence
Keep a visible record of the startups, markets, and founder communities you understand.
- Follow the application process
Use the official program destination and the cited source trail to confirm the current application process.
How compensation works
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
How do I join the Spearhead Scout Program?
Use the official program destination and the cited source trail to confirm the current application process.
Is the scout program paid?
This program lists hybrid as its compensation model. Ask the program to confirm the amount, eligibility, payment timing, and any carry conditions in writing before you join.
What is the format and time commitment?
The program is hybrid. Participation is generally part time.
Overlapping type, sectors, regions, or audience
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