Reid Hoffman’s $1B Foundation: These Venture Capital Funds and Early-stage Companies That Dominate His Portfolio

While you most likely know Reid Hoffman as a founder of LinkedIn, before that, he was a part of the so-called “PayPal Mafia.” You may think that something illegal is afoot, but on the contrary, it was a legitimate group of venture investors. Reid Hoffman was among 20ish PayPal employees, including Peter Thiel, David Sacks, and Elon Musk, who later either founded companies or invested in now much larger tech names.

After selling PayPal to eBay in 2002, Hoffman turned to venture investing, with a focus on angel investing. Some of his early investments were Facebook, Airbnb, and Flickr. Also, Hoffman became a partner at Greylock Partners, a top-of-the-line Silicon Valley venture capital firm.

On top of his investing career, Reid Hoffman also founded an Aphoism foundation. It does not have a publicly disclosed mission statement, but in Hoffman’s words, its goal is to “elevate the human condition.” Essentially, the foundation supports ideas and movements that aim at a broader social, economic, and civic impact.

In the latest 990 filing, for the fiscal year 2024, the foundation reported a revenue of $34.44 million. Net assets reached $1.05 billion, coupled with $44.51 million of expenses, and a negative $10.07 million of net income.

Total contributions to the foundation during the year were $29 million, and exclusively came from Reid Hoffman. It all came from non-cash property, including shares of Braze Inc., Procore, Datadog, Oklo, and Gitlab. Various brokerage accounts generated $31.91 million of capital gains, while alternative investments finished with $4.96 million in gains.

Also see: Seth Klarman’s Foundation Likes Israeli Investments, These Distressed Debt Notes, And These 70 Investment Funds

Fund Investments

A long list of fund investments is shown in the report, which is reaching figures near $703 million. Corporate bonds are also an important segment of investing efforts, which peaked in 2024 at $123 million. Stock investments, on the other hand, carried a $7.43 price tag. This is a detailed fund investment list of the foundation during the year:

• Luxor Capital Partners Offshore: A part of Luxor Capital Group, which disclosed over $2 billion in AUM in its latest 13F.
• Iconiq Access 37, Strategic Partners II B, III B, IV, V, VII: Six funds from Iconiq Capital. The firm has over $80 billion in assets under management, focusing on tech disruption investments.
• Drawbridge Special Opportunities Offshore Fund: An investment traced back to Drawbridge Special Opportunities Advisors, lacking further details.
• Cerberus ICQ Offshore Leveraged: Hoffman invested in Cerberus Capital Management, a firm founded by an investment veteran, Steve Feinberg. It holds an AUM of about $65 billion across various strategies, including credit, private equity, and real estate.
• Capricorn Healthcare & Special Opportunities II: This is a 2016 vintage private equity growth-expansion fund managed by Martis Capital Management. It targets healthcare services, health tech, and TMT sectors.
• Endevaor Catalyst II, III, IV: Managed by Endevaor Catalyst, is a rules-based, co-investment fund. The funds are set up to invest exclusively in Endeavor Entrepreneur-led companies.

Also see: David Abrams’ 17 Favorite Hedge Funds Are in Tune with His Value Investing Roots

• The Rise Fund (B), II, III: Behind this investment are three funds from TPG Capital Advisors. The Rise Funds were created in 2016. The idea behind them is investing in leading businesses and unlocking access around the world. Primary fund’s themes are education, financial inclusion, health and wellbeing, and climate & decarbonization.
• Breakthrough Energy Ventures: The firm seeks to make minority investments in seed-stage, early-stage, and later-stage companies. The primary sectors include environmental services, climate change, climate technology, and cleantech sectors. It was founded by Bill Gates.