Long Journey: Coming of Age
We have doubled our AUM at Long Journey by closing Long Journey IV, a $181,818,181.8 million fund. This business has always been personal, and today I would like to explain why it matters to me.
What's up with all the 18s? In Jewish numerology, 18 represents "chai" or "life." Growing up, I was often given gifts in increments of 18; it was a blessing for life.
The horrific attacks in Israel on October 7th awakened something dormant at my core—a deep inner knowing of my purpose and what I'm willing to fight for. This fund, with its repetition of 18s, embodies my commitment to supporting life and creation.
This personal commitment to life and creation mirrors what Long Journey has always been about at its core: recognizing and amplifying belief. The world changes through chains of belief—one person believes enough to create, another believes enough to support that creation.
Second Believers in the Magically Weird
So what is our mission at Long Journey?
"We are second believers in the magically weird. We fan entrepreneurs' flames so they create the world they imagine."
The magically weird are founders with independently derived insights, the courage to pursue ideas no one else has considered, the will to tackle problems others won't touch. They're the ones who arrive at unique conclusions through their own path, not by following the crowd.
These founders often stand alone at first. I think of Chase from Crusoe ("You're going to mine Bitcoin in the middle of an oil field?"), Augustus from Rainmaker ("You're going to make it rain?"), or Palmer from Anduril ("You're a VR guy and you're going to make complex weapon systems and take on the Primes?"). In those early days, their visions seem so absurd that most people can't see the possibilities they see.
This is where we come in. The first believer is always the founder — they take that initial leap of faith when their vision exists only in their mind. Our role at Long Journey is simple: to recognize the fire in these founders and fan their flames. Great founders will inevitably create the world they imagine; we get the privilege of partnering with and supporting them earlier in their journey, when others might still see their ideas as outlandish. In those moments when you hear a seemingly preposterous idea, you feel the founder's conviction in your gut and know you want to be part of what they're building.
Investing Like It's 1999
As part of Fund IV, we're thrilled to announce that Scott Banister is a venture partner at Long Journey; joining as Arielle would say our already "cracked" team.
Scott harkens back to the very early days of angel investing—he was the first investor in PayPal in 1999 when very few people were doing what he was doing. It was magically weird. He's investing today like he did back then, with the same courage that led him to invest in Affirm, DeepMind, Postmates, and many others.
The Long Journey Ahead
Fund IV represents the next chapter in this journey. As we celebrate, we also recognize the profound gift our investors have entrusted to us. Every dollar of this capital represents not just resources, but life — chai — the opportunity to breathe life into new possibilities. We shepherd these resources with care, passing them to founders who in turn share their gifts with the world.
We all have different beliefs and missions, but what matters most is that you have one. As Cyan recently texted to me out of the blue, "A traveler, lost in a land of endless mirrors, only begins the true long journey when she sees not her reflection, but the strings that move her limbs."
Thank you to our entire team for their commitment to our mission and for being on this journey together.
Lee Jacobs Founder & Managing Partner, Long Journey