Chris Sacca

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Sacca used his student loans to start a company during law school, and when the venture proved unsuccessful he used the remaining funds to start trading on the stock market. By leveraging trades for significant amounts (discovering a flaw in the software of online trading brokers in 1998) he managed to turn $10–20 thousand into $12 million by 2000. Eventually, when the market crashed, Sacca found himself in debt with a four million dollar negative balance. He negotiated to have it reduced to $2.125 million and had repaid it by February 2005.

In 2000 Sacca began his career as an associate at Fenwick & West in Silicon Valley where he handled venture capital, mergers, acquisitions, and licensing transactions for technology clients including Macromedia, VeriSign, and Kleiner Perkins. Laid off in September 2001, after approximately 13 months, he spent the next several months attending networking events and ‘surviving’ in Silicon Valley by drafting contracts and doing voice over work as a freelancer. Creating the consulting firm The Salinger Group for networking purposes, he landed at Speedera Networks in May 2002.

In November 2003 Sacca was hired at Google as Corporate Counsel, where he reported to General Counsel David Drummond. As part of the legal and business development team, his first mandate was to find large amounts of data space, by negotiating and signing agreements around the world. Sacca served as Head of Special Initiatives at Google Inc. leading the alternative access and wireless divisions. Among his projects were the 700 MHz and TV white spaces spectrum initiatives, Google's data center in Oregon, and the free citywide WiFi network in Mountain View, California. Sacca also led many of Google's business development and mergers and acquisitions transactions and was on the founding team of the company's New Business Development organization. He was among the first Google employees given the Founders’ Award, the company's highest honor.

While at Google, Sacca began investing in companies as an angel investor. He served as a professional advisor to companies for a variety of matters, including strategy, optimizing user experience, raising money, and selling a company. His first angel investment was in Photobucket, which was then sold to News Corp in 2007. His second investment was in Twitter. Entrepreneur Evan Williams had started a microblogging service called Twttr in 2006, and asked Sacca if he wanted to invest. Sacca invested $25,000 and began using the service, registering in July 2006 as the 102nd user on the site. He related to Forbes that "I wasted months trying to get others to believe it could be a real business, not just a toy," before deciding "to just buy it all myself." Sacca took part in a $5 million financing round for Twitter in late 2007 and ultimately created four separate funds to surreptitiously buy as many Twitter shares as possible. Sacca left Google in December 2007 after he had fully vested and sought additional opportunities to work with early-stage companies.

Sacca has stated that a turning point in his angel investing was in 2007, when he moved to the town of Truckee in the mountains close to Lake Tahoe. Entrepreneurs including Travis Kalanick and Sacca would spend hours discussing ideas at the residence, and Sacca eventually bought the house next door to host various visiting entrepreneurs. When money began to run low Sacca raised a new fund with investors such as Brad Feld, Marissa Mayer, Eric Schmidt, and JPMorgan Chase's Digital Growth Fund.

Sacca founded Lowercase Capital LLC in Truckee California, in 2010 when he closed his Lowercase Ventures Fund I, an $8.4 million seed fund, in 2010, with investments in Uber, Docker, Optimizely, StyleSeat, Instagram, and Twitter. Lowercase also has some non-tech-related companies in its portfolio, including Blue Bottle Coffee Company and a high-end restaurant in Truckee. Without the corporate backup funding available to many venture capitalists, Sacca became very involved in his portfolio companies on a personal level. He attended meetings at Twitter and Uber, and he negotiated the rights for Uber.com from Universal Music Group when the company changed its name from Uber Taxi. Although not on Twitter's payroll, he "served as a crucial adviser during its formative years and worked closely with its early employees."

Through 2009 he invested in companies such as Kickstarter, Twilio and Lookout. Sacca opened a new $1 billion investment fund in the summer of 2010, and later that year the fund began to buy large blocks of shares from Twitter stockholders, deepening Sacca's position in the company. By February 2011 Sacca's funds had purchased about $400 million worth of Twitter shares, giving it "a stake of roughly 9 percent." When Twitter went public in late 2013, Sacca's affiliated funds owned almost 18% of the company, raising the value of Sacca's investment in the company to around $1 billion.

Sacca brought in Matt Mazzeo to Lowercase Capital as a partner in 2013, with Mazzeo heading a new early-stage fund, Lowercase Stampede, out of Los Angeles. Mazzeo had worked at Creative Artists Agency (CAA), an entertainment and sports agency. Sacca had a 4% stake in Uber by March 2015, and Lowercase was "sitting on" investments in Stripe, Lookout and WordPress parent Automattic. Forbes estimated that Sacca was personally worth $1.2 billion. By that time the value of his first Twitter fund, Lowercase Industry, had reached 1,500% of its original value, and his Twitter deals overall had "returned $5 billion to investors." Also in 2015, Forbes said that Sacca had built "the best seed portfolio in history" with funds such as his Lowercase Ventures Fund I, which had investments in companies such as Twitter, Instagram, and Uber. Fortune had also labeled Lowercase as one of the most successful venture capital funds in history.

Lowercase Capital had an investment portfolio of around 80 startups and a variety of more mature companies by 2017, including Medium and Uber. Sacca was fully divested from Twitter by 2017. That April, Sacca announced that he was retiring from venture investing and along with it his role on Shark Tank, saying he was "two years late" on his plan to retire at 40 years old. He said his firm would continue to support its portfolio companies, but would not take on any new investments or raise more money from investors.

Sacca launched a climate change-related fund in 2020 called Lowercarbon Capital which was initially funded by Sacca and his wife. The firm announced its first outside funding round of $800 million in August 2021. The firm had invested in ~50 companies as of August 2021, many of which were startups focused on removing carbon dioxide from the air.

Sacca regularly speaks about venture capital and investing in media. He has been characterized as an expert by Business Week, Fortune magazine, CNBC, the BBC, CNN, Fox and NPR. Also, Sacca's interview during the initial Startup podcast inspired the pilot episode of the ABC television version of Start Up starring Zach Braff with Sacca to play himself. He played himself in the "Overton Window" episode of Billions.

He has also appeared on other television shows. In 2015 he first appeared as a "Guest Shark" in episode 4 of season 7 of the ABC reality television show Shark Tank, which dramatizes seed-stage investment negotiations. Subsequently, appearing in three other season 7 episodes, Sacca invested in HatchBaby, Bee Free Honee, Rent Like a Champion, and Brightwheel. Sacca continued to appear as a guest shark in five episodes of season 8. Among others, he invested in a business that opens lemonade stands, and on February 17, 2017 in episode 168, Sacca along with guest Lori Greiner invested $600,000 for 5% of ToyMail, a plush toy which connects to a messaging app. Sacca has a role in the ABC sitcom Alex, Inc., where he plays himself and reenacts his interactions with Alex Blumberg.

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