3/19/2023 0 Comments Paypal mafia![]() ![]() The group significantly increased investment activity in the mid-2000s, when it collectively made 10-40 investments per year, and then again in 2010, when it collectively made about 100 investments. In the figure below, we show the number of investments the Mafia made over time. During the 2009-2014 period, 13 percent of startups the Mafia invested in had one such founder. To compare these numbers to the industry as a whole, a study using Crunchbase data found that, from 2009 to 2014, 15.5 percent of startups had at least one female founder. We were able to identify founders for 642 of these 646 companies, finding 89 (14 percent) with at least one female founder one startup had a founder who identifies as gender nonbinary. Overall, we found 1,005 investments by Mafia members and affiliated VC firms into 646 companies over the period from 1995 to June 2018. A more detailed explanation of our methodology can be found here. For example, Reid Hoffman was probably responsible for more investments at Greylock Partners than just the ones in which he is named as a partner on Crunchbase. We believe this methodology is conservative, and that several Mafia members are probably responsible for more investments than we’ve captured here. ![]() Additionally, we count investments if they are made by Mafia-affiliated VC firms into companies founded by Mafia members. We include personal investments made by 20 Mafia members* as well as investments made by Mafia-affiliated venture capital firms** if they are listed as “partner investments” with a Mafia member in Crunchbase. The Mafia is all-male and has been accused of contributing to the lack of women in the technology industry, so we hand-coded a variable for whether a company had at least one female founder to gauge the percentage of investments Mafia members made in such companies. Our dataset includes the investor, the company being invested in, and the date of investment we’ve added indicator variables to show if a company receives investments from multiple Mafia members and show the investors in common. Using data available from Crunchbase, Dow, and media reports of investments, we have compiled what we believe to be a quite comprehensive database of Mafia investment activity. The Mafia has inspired substantial media coverage over the years, but there has not been a thorough catalog of its investments. ![]()
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