Introduction:
Former senior SpaceX executive Tom Ochinero has joined forces with SpaceX alum-turned-VC Achal Upadhyaya and finance leader Spencer Hemphill to create a new venture called Interlagos Capital. While there is limited public information about the company at this time, it was officially incorporated in Delaware on March 7 and registered as an out-of-state company in California on April 11. The trio has not yet commented on their new endeavor. Interlagos Capital aims to provide venture capital services and financing to emerging and start-up companies.
Interlagos Capital’s Formation and Trademark Application:
Interlagos Capital’s formation is still shrouded in mystery, with little information available about its goals and strategies. However, a trademark application for the name “Interlagos” was filed with the U.S. Patent and Trademark Office on April 4. The application, which aligns with the company’s business registration address, indicates that Interlagos Capital intends to focus on venture capital services and funding for emerging and start-up companies. This suggests that the company aims to play a vital role in supporting and nurturing the growth of innovative businesses.
Tom Ochinero’s Background and Departure from SpaceX:
Tom Ochinero spent nearly a decade at SpaceX, eventually rising to the position of senior vice president of commercial business. During his tenure, he played a pivotal role in helping SpaceX become the global leader in commercial launch services. Ochinero’s departure from the company in February was reportedly due to a family medical matter, according to CNBC. His decision to venture into the world of venture capital following his successful career at SpaceX demonstrates his desire to continue contributing to the tech and innovation ecosystem.
Achal Upadhyaya’s Transition from SpaceX to Venture Investing:
Achal Upadhyaya, another former SpaceX employee, has also chosen to pursue a career in venture investing. After spending ten years in engineering roles at SpaceX, Upadhyaya joined investment firm Cantos as a venture partner in 2022. His time at Cantos involved making strategic investments in companies like Apex Space, a satellite bus manufacturer, and Salient Motion, a motion control system developer. Both of these start-ups were founded by ex-SpaceX founders, highlighting Upadhyaya’s knack for identifying promising ventures.
Spencer Hemphill’s Finance Expertise and Departure from Sequoia:
Completing the Interlagos Capital team is finance executive Spencer Hemphill, who brings a wealth of experience from his ten-year tenure at Sequoia. Hemphill recently left his position as assistant controller at Sequoia, indicating his readiness to embark on a new venture. His expertise in finance will undoubtedly be invaluable in managing the financial aspects of Interlagos Capital’s operations and investments.
The Trend of SpaceX Executives Transitioning into Venture Investing:
The movement of SpaceX executives into the world of venture investing is not a unique occurrence. In fact, it has become popular enough that a dedicated website exists to connect the two groups. Notable individuals who have made this transition include Scott Nolan from Founders Fund and Bulent Alton from Alpine Space Ventures. This trend demonstrates the appeal of venture investing to individuals with extensive experience in the space industry, who can leverage their knowledge and networks to identify and support promising start-ups.
Conclusion:
Former senior SpaceX executive Tom Ochinero, along with SpaceX alum Achal Upadhyaya and finance leader Spencer Hemphill, has founded Interlagos Capital. While details about the company are currently scarce, a trademark application reveals its focus on venture capital services and funding for emerging and start-up companies. Ochinero’s departure from SpaceX due to family reasons, along with Upadhyaya’s successful career at SpaceX and subsequent venture investing endeavors, highlight the entrepreneurial spirit and desire to support innovation within the industry. Hemphill’s finance expertise further strengthens the team’s capabilities. The trend of SpaceX executives transitioning into venture investing indicates the potential for these individuals to make significant contributions to the start-up ecosystem.