Jack Selby, the Thiel Capital partner turned independent investor, is building a portfolio of high-potential startups through Arizona-rooted networks. Copper Sky Capital, Selby's venture firm, is raising a $300 million second fund, according to SEC filings, as he accumulates stakes in companies like Etched, the AI chip startup attracting serious attention from major tech investors.
Selby's move reflects a broader pattern among top-tier VCs who leave established firms to build their own practices. His Arizona connections have become a differentiator in sourcing deals, particularly in deep tech where geographic arbitrage and relationship depth matter. Etched, which focuses on AI inference chips, represents the type of infrastructure play that appeals to growth-stage VCs building concentrated bets on AI's hardware layer.
The $300 million fund size suggests Selby is targeting Series B and later rounds, positioning Copper Sky Capital as a player in growth-stage venture rather than seed-stage discovery. This positions him to write meaningful checks into companies past their early validation phase, where risk is lower but capital requirements climb.
Selby's pedigree at Thiel Capital, one of Silicon Valley's most influential micro-VC shops, gives him credibility with founders and syndicating partners. The firm's track record backing companies like Airbnb and SpaceX early set a template for conviction-driven investing. Copper Sky Capital's ability to raise $300 million for a second fund demonstrates that LPs believe Selby can replicate that playbook independently.
The Arizona angle is worth noting. While California remains venture capital's epicenter, Selby's regional focus surfaces deals before they hit the traditional Sand Hill Road circuit. Etched's location in the Southwest gives Selby a natural information advantage, reducing the risk that he's chasing hot deals everyone else has already