The second Trump era has officially begun.
Rather than slinging a take or wrangling a metaphor, I’ve decided to do something different today. With minimal fuss, I want to quickly spell out the key tech people in the Trump administration. A dramatis personae, if you will.
There’s no way to start other than with “first buddy” Elon Musk, co-leader of the new and mysterious Department of Government Efficiency, often abbreviated to DOGE. The CEO of Tesla and the man behind SpaceX, Musk has become undeniable. The owner of X (formerly Twitter), he’s become a power player far beyond tech, though the contours and nature of that power aren’t always clear.
To that end, I don’t yet totally get DOGE on a pragmatic level. It seems to be fundamentally advisory in nature, sure. I asked Grok, the generative AI chatbot tied to X and here’s what it said: “DOGE aims to leverage the virality of memes and cryptocurrency culture to make government transparency more accessible and engaging.”
Musk was previously co-leading DOGE with Vivek Ramaswamy, former Republican presidential candidate, investor, and founder of pharmaceutical company Roivant Sciences. Just yesterday, in the hours following the inauguration, the news came down that Ramaswamy is leaving DOGE to launch a gubernatorial campaign in Ohio.
And then there are quite a few VCs. David Sacks, Craft Ventures cofounder and cohost of the All-In podcast, will be the White House AI and crypto czar. Sacks—a member of the PayPal mafia—has invested in and cofounded a range of companies, from Yammer to (more recently) workplace chat platform Glue.
Sacks aside, I do think this is the Andreessen Horowitz White House in some ways. Two former a16z partners were appointed to key positions in quick succession. Sriram Krishnan, former a16z general partner whose investments include Figma, will be senior policy advisor for AI to the Office of Science and Technology Policy. (Krishnan is also a Musk confidant.) Likewise, Scott Kupor—former a16z managing partner and an investor in Formation Bio and Foursquare—will be director of the Office of Personnel Management. Kupor is also the author of a book I’ve been meaning to read, Secrets of Sand Hill Road: Venture Capital and How to Get It.
Marc Andreessen has reportedly been helping Trump staff up behind the scenes. But perhaps no one’s influence is more clear than Peter Thiel’s. Once Thiel’s chief of staff, Michael J.K. Kratsios has previously served in government, and will now be director of the White House Office of Science and Technology Policy.
And then, of course, there’s Vice President J.D. Vance, who worked at both Steve Case’s Revolution and Thiel’s Mithril Capital. In the first paragraphs of Hillbilly Elegy—published in 2016, the same year Trump’s first term began—Vance writes that he’s “not a senator, a governor, or a former cabinet secretary.” That, as it turns out, remains true. Vance is now more than that.
When Vance’s nomination was announced, I wrote that the venture business could very well have a man in the White House. I never thought VC would have its men in the White House (and so far, they are predominantly—though not entirely—men). This really all feels very Mr. Tech Goes to Washington. When brought together, it feels like there’s both a new Silicon Valley and a new Washington. The paradigm shift in tech’s relationship to government feels new, and like it’s just getting started.
One word, perhaps of caution: This is the cast of characters today. Because it’s worth remembering, long before Trump waxed poetic on his love for “tariff,” “the most beautiful word in the dictionary,” he became famous for a very different phrase: “You’re fired.”
So, I wouldn’t assume that any of this is remotely set in stone. And I personally find it likely that most of these folks will last substantially longer than one Scaramucci (or ten days). But who knows.
The clock starts now.
See you tomorrow,
Allie Garfinkle
Twitter: @agarfinks
Email: alexandra.garfinkle@fortune.com
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VENTURE DEALS
- Fundment, a London-based investment management platform for financial advisers, raised £45 million ($55.5 million) in Series C funding. Highland Europe led the round and was joined by ETFS Capital.
- Sereact, a Stuttgart, Germany-based robotics embodied AI developer, raised €25 million ($26 million) in Series A funding. Creandum led the round and was joined by existing investors Point Nine and Air Street Capital and angel investors.
- 1Money, a New York City-based stablecoins payments network, raised $20 million in seed funding from F-Prime Capital, Galaxy Ventures, Hack VC, and others.
- LeapXpert, a New York City-based communications platform for employees and clients, raised $20 million in Series B funding. Portage led the round and was joined by existing investors Rockefeller Asset Management, Uncorrelated Ventures, and the Partnership Fund for New York City.
- ecoplanet, a Munich-based energy management software provider, raised €16 million ($16.7 million) in Series A funding. EQT Ventures led the round and was joined by existing investor HV Capital and others.
- Men in Blazers Media Network, a New York City-based soccer media company, raised $15 million in Series A funding. Avenue Sports Fund led the round and was joined by Bolt Ventures, RR McReynolds, The Chernin Group, and others.
- Renown, a remote onchain user experience tools provider formerly known as WalletConnect, raised $13 million in Series B funding. USV and 1kx led the round and were joined by Shopify Ventures, Kraken Ventures, Crypto.com Capital, and others.
- MoneyHash, a New York City-based payment orchestration platform in the Middle East and Africa, raised $5.2 million in pre-Series A funding. Flourish Ventures led the round and was joined by Vision Ventures, Arab Bank's Xelerate, Emurgo Kepple Ventures, Jason Gardner, and existing investors COTU, RZM Investment, and Tom Preston-Werner.
PRIVATE EQUITY
- iCapital, backed by Apollo Global Management, Blue Owl Capital, and others, acquired Parallel Markets, a New York City-based financial digital identity provider. Financial terms were not disclosed.
- Texas Republic Signs, backed by Osceola Capital, acquired Bakers’ Signs & Manufacturing, a Conroe, Texas-based sign manufacturer and installation services provider. Financial terms were not disclosed.
OTHER
- Rokt acquired mParticle, a New York City-based customer data platform for multi-channel consumer brands, for $300 million, which includes the purchase price and future investment in the business.
PEOPLE
- Blockchain Founders Capital, a Neustadt, Germany-based venture capital firm, added Yat Siu as a limited partner. He is cofounder and executive chairman of Animoca Brands.
