U.S. · San Francisco · Fortune Technology
Forget the gala, these Silicon Valley schools run their own venture capital funds
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Most American private schools still raise money the old-fashioned way—silent auctions, annual giving, and a yearly gala with mixed drinks and canapés.
Key facts
- The approach was originated by Saint Francis High School in Mountain View, where a $15,000 pre-IPO investment in Snap returned $34 million when Snap went public in 2017
- The MVCE totals less than $1 million—a fraction of Menlo’s $122.6 million endowment—invested through established managers and the school’s 23-member investment oversight board
- The fund invests in roughly 10 companies annually at $25,000 to $50,000 apiece
- By June 2025, it carried approximately $1.75 million in private equity investments out of a total $61.1 million that includes investments in mutual funds, treasury bills, and equities
Summary
Crystal Springs Uplands School, a 569-student private day school located on the peninsula between San Francisco and Silicon Valley, still plans to throw a gala this year, but it isn’t the main draw for raising money. Crystal Springs is one of a small but growing number of Silicon Valley private schools that have built what amount to miniature venture capital funds. The approach was originated by Saint Francis High School in Mountain View, where a $15,000 pre-IPO investment in Snap returned $34 million when Snap went public in 2017. SpaceX’s June debut on the Nasdaq—the largest IPO in history at a valuation north of $2 trillion—signaled that the era of massive tech companies staying private indefinitely may be ending.