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Sands Capital

Arlington, VASANDS-CAPITAL
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Dossier Summary

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Classification
Slugsands-capital
HQArlington, VA
Stage FocusSeries A and B focused on technology companies, with $10-…
Intel StatusAccepting submissions
🔥 BERNIE'S HOT TAKE

Sands Capital is the rare fund that actually walks the walk on long-term investing — they've been backing winners like DoorDash and Snowflake since before they were cool, then riding them all the way to IPO and beyond through their integrated public-private platform. With 93% of employees recommending the firm and a 4.9/5 Glassdoor rating, they're clearly doing something right internally. The three managing partners (Clarke, Graninger, Martin) have serious domain expertise and aren't just check-writers — Clarke led major enterprise software investments, Graninger brings national security tech experience from In-Q-Tel, and Martin has been grinding at Sands for 16+ years. Their portfolio shows 11 unicorns, 15 IPOs and 24 acquisitions, which is solid execution. The downside? They're institutional-focused with high minimums, so if you're not raising $10M+ Series A/B rounds in their sweet spot sectors, you're probably not on their radar.

KEY TAKEAWAYS
  • Best for: Series A/B tech companies ready for $10-15M checks with serious growth potential
  • Watch out for: High bar for entry - they're picky and institutional-focused with big minimums
  • Known for: Actually holding winners long-term through IPO, not flipping at first exit opportunity
Investment Thesis

Sands Capital is an active, long-term investor in leading innovative growth businesses, globally. Our approach combines analytical rigor and creative thinking to identify high-quality growth businesses that are creating the future. Data proliferation and rapid digitalization are redefining the world and creating generational opportunities. We aim to partner with entrepreneurs leveraging this disruption to build the next market leaders within their industries.

Stage & Sector Focus

Series A and B focused on technology companies, with $10-15 million target investment size per company. The firm seeks to invest in companies operating in healthcare, business products and services, consumer products and services, artificial intelligence, machine learning, cybersecurity, healthcare technology, digital life, and technology sectors. Global Innovation strategy invests in mid-to-late stage private technology businesses with potential to become leading public companies, while Global Ventures focuses on early-stage transformational technology businesses.

Notable Portfolio
DoorDashSlackAnthropicOpenAIKlaviyoSnowflakeAndurilNubank
Key Partners
Michael Clarke
Managing Partner

Managing partner on the Global Innovation strategy and co-portfolio manager on Technology Innovators. Joined Sands Capital in 2011 with significant experience analyzing global tech businesses, leading investments in ARM, ASML, Meta, Gusto, Klaviyo, Salesforce, Snowflake, and OneTrust. Previously was an equity research analyst covering enterprise software at Friedman, Billings, Ramsey Group.

Michael Graninger
Managing Partner

Managing partner at Sands Capital Alternatives who joined the firm in 2018 as a partner with more than 20 years of experience investing in, managing, financing, and developing innovative enterprise technologies. Prior to Sands Capital, was a Partner at In-Q-Tel, a strategic investor in early-stage businesses in artificial intelligence, computer vision, data analytics, cybersecurity, and other areas with national security impact.

Barron Martin Jr.
Managing Partner

Seasoned professional in investment management with extensive experience at Sands Capital since June 2008, progressing through roles from Research Associate to Managing Partner. Holds a Bachelor of Science in Business Administration and Management from Washington and Lee University. Served as Board Member at BlackBuck and bigbasket.com, demonstrating operational experience with portfolio companies.

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