Since its inception in 2020, Launch House has evolved from a co-living network into a global entity, positioning itself as the go-to community for incubating strong institutions for the “New Silicon Valley.” As it was able to draw on a proven track record of supporting promising founders, engineers, and creators, Launch House announced the close of its $12 million Series A funding in February 2022.
Strong Backers
The funding round was led by Andrew Chen of Andreessen Horowitz (a16z), who is also an investor in House Capital, the venture arm of Launch House. Joining Chen in the Series A were Creative Artists Agency co-founder Michael Ovitz, along with Electric Ant’s Chris Ovitz, Mike Dudas of 6th Man Ventures, and Ryan Sean Adams, one of the Bankless founders. And, as further proof of concept, many Launch House community members joined the round as well, acting as angel investors.
Having closed its Series A, Launch House will now strengthen and grow its community offerings. These already include in-person and online programs and events, as well as educational course offerings delivered in a metaverse-based university space. The goal of all these offerings? To bring together emerging founders so they can cultivate organic relationships and access top tech networks and fundraising support, all while building their industry-leading startups.
Disrupting the Status Quo
Once upon a time, the great leaders of Silicon Valley were baby-faced college dropouts. Now, the scene is shifting — not toward traditional degree programs and formal education, but rather in favor of accelerators and communities that form beyond the geographical constraints of the San Francisco area or even beyond physical locations, as more and more millennials and Generation Z members turn to the metaverse for global connectivity.
Seeing that trend, Launch House is preparing to propel the tech world into the next stage of learning by “building institutions for the New Silicon Valley,” according to Brett Goldstein, who cofounded Launch House with Michael Houck and Jacob Peters.
He acknowledged, “The center of gravity in the startup world is shifting to Gen Z/young millennials, Web3, and places outside of [San Francisco] (such as LA, NYC, and online). That means, in order to adequately attract and cultivate talent in this new world, the model for (and vibe of) accelerators and universities also needs to shift.” To that end, the LH community already offers members-only educational and social opportunities through its Gather-hosted university in the metaverse. Now, strengthened by its closed Series A and its growing ranks of founders-as-graduates, the sky seems to be the limit for this community. Said Andrew Chen: “Launch House’s unique approach, coupled with the tailwinds of remote work, the rise of Gen Z, and the shifting funding environment, has solidified their role as the third space for the new distributed Silicon Valley. The impact they’ve had on the LA ecosystem alone is a testament to the power of the network they are building.”
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