Forbes - (archived: https://archive.ph/y0bJw ) Here Come The Anti-Woke Venture Capitalists

Updated Dec 23, 2024, 10:16am EST

As Silicon Valley leaders decry ‘wokeism,’ a group called New Founding that says its “birthright is to lead Western civilization” is among the firms building a new blueprint for VC — and billionaire Marc Andreessen is in.

By David Jeans, Forbes Staff

Earlier this year, a little-known company called New Founding made headlines when it announced plans to build a Christian enclave in Kentucky — an “aligned community'” where owners could “disappear from the cultural insanity of the broader country.” But building a village was just the beginning.

Now, New Founding has launched a venture capital fund to invest in what it calls “aligned companies,” startups that oppose progressive ideologies and are intent on both “cultural and economic disruption.” It’s one of a small but growing number of VCs vocally rejecting ‘wokeism’ and building their investment thesis on core conservative values.

New Founding’s investments are one tentpole of a broader goal: to remake society with a largely MAGA, tech-driven, Christian worldview. It decries leftists as “anti-human,” celebrates technology as a singular force that will define a new era of prosperity, loves crypto and sees the internet (“deeply American in ethos and design”) as a means to its ends. “Our project offers a powerful avenue,” a manifesto on its website published in July reads, “both to develop the class of people who can ultimately challenge the incumbent regime and to acquire the resources, territory, and institutions that will enable this effort.”

So far, it’s raised $3 million, a modest start. But it has made 10 investments in seed stage and series A companies, among them an education startup to help teachers start their own ‘micro schools,’ and an ad-tech company that helps gun manufacturers target consumers. For Presidio, a startup that recently raised a $4 million seed fund led by New Founding to provide Christian-branded, pro-life health insurance, the group has been an effective ally. “They are initiators of a pro-American, Christian movement,” CEO Daniel Cruz told Forbes, adding the group is “well connected and have helped us in formulating our strategy.”

New Founding CEO Nate Fischer told Forbes these investments are the beginnings of a “parallel economy” offering conservative versions of mainstream services it views as too liberal, like Google’s ad-tech products. “There's a large share of people who feel that their views are almost entirely absent from the institutions that are shaping the future,” Fischer explained. “And there's a real acute need and hunger for alternatives.”

/snip