Gatsby Management

Gatsby Management is a private technology investment firm led by Duncan Penn, specializing in investments in category-defining global technology companies.

Since 2019, Gatsby and its investment partners have collectively deployed more than $700 million in capital and generated over $4.2 billion in returns and a combined AUM of over $5 billion. Their portfolio includes direct investments in SpaceX, xAI, Neuralink, X.com, The Boring Company, Saronic, and other leading technology companies.

At SpaceX's 2026 IPO, Gatsby and its fund partners ranked as the 17th-largest institutional shareholder in managed and co-managed positions. In 2025, Gatsby was named by SpaceX as its “#1 Value-Add Investor.” In one year the group helped generate over 45 major enterprise opportunities for Starlink across 17 countries, contributing to a nine-figure annualized revenue run rate.

Beyond capital deployment, Gatsby leverages its extensive network of government leaders, defense officials, and international institutions to support portfolio companies in global expansion, regulatory navigation, strategic partnerships, and commercial growth.