In a move that has intrigued many in the venture capital and
space industry sectors, three high-profile individuals with impressive backgrounds in space exploration and finance are combining their expertise to launch a new venture, TechCrunch has reported. Tom Ochinero, a former senior SpaceX executive, is joining forces with Achal Upadhyaya, a SpaceX alum turned venture capitalist, and Spencer Hemphill, previously one of Sequoia Capital’s top finance leaders. Together, they are establishing Interlagos Capital.
Although details surrounding Interlagos Capital remain scarce, the formation of the company signals a new chapter for its founders. The venture was officially incorporated in Delaware on March 7 and registered as an out-of-state company in California shortly afterwards, on April 11. Documents related to the incorporation list the three founders as pivotal members, with a principal address in El Segundo, California. Furthermore, an application for a trademark on “Interlagos” was filed with the U.S. Patent and Trademark Office on April 4, indicating the company’s focus on “venture capital services; venture capital funding services, namely, providing financing to emerging and start-up companies.”
The departure of Ochinero from SpaceX in February marked the end of an era at the space company, where he had played a significant role as senior vice president of commercial business. During his tenure, he contributed significantly to SpaceX’s ascent as the leader in the global commercial launch market. His decision to leave was reportedly due to a family medical matter. With Interlagos, Ochinero aligns with Upadhyaya, who himself had a ten-year stint in engineering at SpaceX before venturing into investment with Cantos in 2022. While at Cantos, Upadhyaya focused on companies like Apex Space and Salient Motion, startups piloted by former SpaceX colleagues.
Complementing the space expertise of Ochinero and Upadhyaya, Spencer Hemphill brings a wealth of financial acumen to the table. Hemphill’s decade at Sequoia, culminating in his role as assistant controller, has prepared him for the financial rigor required in venture capital endeavors.
The trend of SpaceX executives transitioning into venture capital isn’t new. Ochinero and his co-founders are part of a broader movement of SpaceX veterans leveraging their experience to fund and support new ventures. This SpaceX-to-VC pipeline has seen significant success, with platforms such as AlumniFounders.com facilitating connections between the two groups. Notable figures in this movement include Scott Nolan of Founders Fund, an early SpaceX employee, and Bulent Alton from Alpine Space Ventures.
The industry is abuzz with anticipation regarding Interlagos Capital’s future contributions to the venture capital landscape, especially in the space and technology sectors. Given the founders’ backgrounds and the company’s proposed focus, Interlagos is poised to become a key player in advancing space-related startups and technologies. As the venture capital world continues to evolve, the involvement of seasoned experts from leading companies like SpaceX only underscores the growing interconnection between cutting-edge technology enterprises and financial investment strategies aimed at fostering the next wave of innovation.
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