Dave McClure: A Journey Through Tech and Venture Capital
Biography of Dave McClure:
Early Life and Education
Dave McClure was born in 1966 in Morgantown, West Virginia,
and grew up in Columbia, Maryland. He earned a Bachelor of Science in
Mathematical Engineering from Johns Hopkins University in 1988. His academic
background laid a strong foundation for his future endeavors in technology and
entrepreneurship.
Entrepreneurial Beginnings
In 1994, McClure founded Aslan Computing, a technology
consultancy. The company achieved $2 million in revenue before being acquired
by Servinet/Panurgy in 1998. Following the acquisition, McClure worked as a
technology consultant for Microsoft and Intel, further honing his expertise in
the tech industry.
Transition to Marketing and Leadership Roles
McClure's career took a pivotal turn when he joined PayPal
in 2001 as Director of Marketing. After his tenure at PayPal, he led marketing
efforts at Simply Hired in 2005 and 2006. These roles allowed him to develop
innovative programs and strategies in the tech space.
Investment Career and Founders Fund
From 2008 to 2010, McClure worked at Founders Fund, focusing
on seed-stage investments in 42 companies. His strategic investments resulted
in four unicorns and three IPOs, including Twilio, Lyft, and Credit Karma.
Notably, McClure led the seed round for Credit Karma in 2009, which later
yielded an exceptional return of over 400 times the initial investment upon its
acquisition by INTU.
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Founding 500 Startups
In 2010, McClure co-founded 500 Startups with Christine
Tsai. The firm has invested in over 2,500 companies across 75 countries, with
investments in 40+ unicorns and 10+ IPOs. The firm's portfolio includes success
stories like Credit Karma, Canva, and Intercom, solidifying its position as a
global powerhouse in venture capital.
Controversy and Resignation
In 2017, McClure faced allegations of sexual harassment,
leading to his resignation from 500 Startups. He issued a public apology and
later retracted it, denying the allegations. Despite the controversy, McClure
chose to sever all ties with 500 Startups, resigning as a general partner in
the wake of the allegations.
Founding Practical Venture Capital
In 2019, McClure founded Practical Venture Capital, a VC
secondary firm specializing in providing liquidity solutions for LPs and GPs in
early-stage VC funds. The firm focuses on buying LP & GP fund interests in
microVC funds and direct secondary investments in breakout companies within
those portfolios. McClure has assembled a prestigious group of investors,
including senior executives from Facebook, Credit Karma, and Lyft, as well as
seasoned PE investors.
42 Geeks: Connecting Global Tech Communities
In 2022, McClure co-founded 42 Geeks with Chok Ooi. The
organization aims to connect people interested in startups, technology, and
investing. They organize events in Silicon Valley and New York, bringing
together entrepreneurs and investors from around the world. In September 2025,
42 Geeks embarked on a Southeast Asia tour, visiting Hanoi and Bangkok, to
foster global connections and knowledge sharing.
Investment Portfolio Highlights
Among McClure's notable investments are:
- Credit
Karma: Valued at over $3 billion in 2015.
- Twilio:
Raised over $100 million by 2013.
- SendGrid:
Raised over $45 million by 2014.
- MakerBot:
Acquired by Stratasys for $400 million.
- Wildfire
Interactive: Acquired by Google for $350 million.
- Viki:
Acquired by Rakuten for $200 million.
- Mashery:
Acquired by Intel for approximately $200 million.
- Mint.com:
Acquired by Intuit for $170 million.
- SlideShare:
Acquired by LinkedIn for $119 million.
Recent Developments
In March 2025, Practical Venture Capital announced the
launch of PVC-3, "The Halftime Fund," its third venture capital
secondary fund. The firm focuses on providing liquidity solutions for
early-stage VC funds and breakout companies within their portfolios.
Additionally, McClure continues to engage with global tech communities through
42 Geeks, fostering connections and knowledge sharing among entrepreneurs and
investors worldwide.
Conclusion
Dave McClure's journey from a software developer to a prominent figure in venture capital showcases his adaptability and commitment to fostering innovation. Through his ventures, he has significantly impacted the startup ecosystem, supporting numerous companies globally. His continued efforts through Practical Venture Capital and 42 Geeks reflect his dedication to shaping the future of technology and entrepreneurship.
