MarketPR
Sabertooth VC founder Justin Ernest has channeled nearly $400 million into 10 late-stage companies — including Anthropic, SpaceX, Anduril, Databricks, and PsiQuantum — over the past 12 months, doing so entirely through Special Purpose Vehicles rather than a conventional venture fund.
Ernest, who spent more than five years as an investor at Playground Global focused on deep tech and fundraising, built the model to give family offices access to cap tables that routinely exclude them.
The SPV Mechanism Rather than spending 12 to 18 months raising a formal fund — the runway Ernest cites as typical for new managers — he sources equity allocations directly from company-approved rounds and packages each deal into a separate legal entity.
Investors buy into a vehicle that owns shares in one company, not a diversified pool.
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