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§ Venture Capital · Los Angeles, CA, USA
venture capital firm backing deep tech startups from inception through Series B, focused on applied science, manufacturing, and space.
Key people at Interlagos Capital.
Interlagos Capital is a venture capital firm based in El Segundo, California, investing in emerging deep tech companies across applied science, manufacturing, and space technology. The firm targets $550 million for its debut fund, aiming for 26-32 investments from inception through Series B rounds. Its portfolio includes leading Apex's $200 million Series D, co-leading Shinkei Systems' $20 million Series A, and participating in Aetherflux's $50 million financing. Key figures include co-founders Tom Ochinero, a former SpaceX senior executive, and Achal Upadhyaya, a former SpaceX engineer. General partners Karan Sharma and Pablo Lubroth also contribute to the firm's leadership. Interlagos Capital was founded in 2024 by Tom Ochinero, Achal Upadhyaya, and Spencer Hemphill. Its business model centers on raises venture capital funds from limited partners to deploy into portfolio companies, targeting $550 million for its debut fund across 26-32 investments.
Key people at Interlagos Capital.
Interlagos Capital is a venture capital firm founded in 2024 by former senior SpaceX executives, including Tom Ochinero, Achal Upadhyaya, and Spencer Hemphill. The firm is based in El Segundo, California, and focuses on providing venture capital funding to early-stage deep tech startups, investing from inception through Series B rounds. Their investment philosophy centers on backing companies in applied science and manufacturing sectors, with a broad deep tech focus that includes space, robotics, biotech, AI, and other capital-intensive technologies. Interlagos aims to lead funding rounds and hold significant equity stakes (18-25%) in portfolio companies, supporting their growth with consistent capital deployment. The firm is currently raising a debut fund targeting $550 million to make 26-32 investments, reflecting confidence in the deep tech market and the founding team’s expertise[1][2][3][4].
Interlagos Capital was incorporated in Delaware on March 7, 2024, and registered in California shortly after. It was founded by Tom Ochinero, a former top SpaceX executive with a decade of experience, Achal Upadhyaya, a senior engineer at SpaceX and former investor at Cantos Ventures, and Spencer Hemphill, a former Sequoia finance leader who serves as CFO. The founders leveraged their deep technical and operational experience at SpaceX and other venture firms to create a fund dedicated to deep tech startups, a sector requiring specialized knowledge and patient capital. The firm’s launch marks a strategic move to capitalize on the growing interest and investment needs in deep tech, with a first close already achieved in their fundraising process[1][2][3][4].
Interlagos Capital is riding the wave of increased venture capital interest in deep tech sectors, which require substantial upfront investment and longer development timelines compared to traditional tech startups. The timing is favorable due to a surge in innovation across space, manufacturing, robotics, biotech, and AI, alongside a relative scarcity of specialized funds with technical leadership. By focusing on deep tech, Interlagos addresses a market gap, competing with mega-funds like Founders Fund and Andreessen Horowitz that have recently expanded into early-stage deep tech investing. Their presence strengthens the ecosystem by providing patient capital and operational expertise critical for complex technology commercialization[2][3].
Interlagos Capital is poised to become a leading venture capital firm in deep tech, leveraging its founders’ unique blend of technical and investment experience. The firm’s success will depend on its ability to deploy its $550 million fund effectively across promising startups and maintain a hands-on approach to support growth. Future trends shaping their journey include advancements in AI, space technologies, quantum computing, and sustainable manufacturing. As deep tech continues to attract attention, Interlagos’ influence may grow, potentially shaping the trajectory of breakthrough technologies and the broader innovation ecosystem. Their strategic focus and strong network position them well to capitalize on the increasing demand for specialized venture capital in complex scientific and engineering domains[2][3][4].
