Some of the new faces on this year’s Midas List, which ranks the top venture capitalists, have made significant deals in defense, consumer tech, and enterprise software. Trae Stephens, who co-founded defense contractor Anduril, and Wesley Chan, the creator of Google Voice, are among the six new Midas listers who have proven their investment prowess with successful bets.
Stephens, known for his investments in defense and manufacturing, has made major deals in companies like Gecko Robotics and Varda Space Industries. His biggest success comes from Anduril, which he founded with Oculus VR creator Palmer Luckey and is now valued at $10 billion. He also led the firm’s series A investment in Flexport, a supply chain logistics platform valued at $8 billion.
Chan, who spent 14 years at Google before cofounding FPV Ventures in 2022, has focused on consumer tech startups. He has made blockbuster deals in companies like Canva, Ring, and Robinhood, with significant returns on their valuations. Chan’s background at Google has informed his investment strategy and helped him make successful bets in the tech industry.
Annabelle Yu Long, founder of BAI Capital, has also made her debut on the Midas List. Long, with over $3 billion in assets under management, has invested in numerous IPOs and unicorns in Asia. Her background in media and venture investing has given her a unique perspective on the tech industry, particularly in relation to China’s growing influence and challenges in the market.
Justin Niu, a partner at IDG Capital in Beijing, has focused on deals in enterprise data services and AI research companies. His investments in companies like DEEPEXI and SenseTime have yielded significant returns, with acquisitions and market successes. Niu’s background in corporate strategy and market entry has informed his investment decisions and led to his inclusion on the Midas List.
Kevin Spain, from Emergence Capital, has made the list for the first time with his investments in companies like Doximity and Blend. His experience in marketing and corporate development has given him an edge in identifying successful startups and guiding their growth. Spain’s past experiences in the dot-com era and at Microsoft have shaped his investment strategy and led to his success on the Midas List.
Jeremy Philips, a general partner at Spark Capital, has also made his debut on the list with bets in companies like Affirm, TripAdvisor, and Angi. His experience at News Corp and teaching digital investing at Columbia Business School has given him a broad perspective on the tech industry. Philips’ ability to identify successful startups and guide their growth has earned him a spot on the prestigious Midas List.
