BoxGroup's $750K Cursor bet yields $1 billion in SpaceX acquisition
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BoxGroup's early investment in AI coding startup Cursor returned about $1 billion after SpaceX acquired Cursor for $60 billion this month. The deal is the largest VC-backed acquisition of all time. BoxGroup first wrote a $750,000 check to Cursor CEO Michael Truell in 2022, plus two follow-on checks.
Key Facts
- SpaceX acquired Cursor for $60 billion this month, the largest VC-backed acquisition of all time.
- BoxGroup's total investment in Cursor, including a $750,000 initial check and two follow-on checks, returned about $1 billion.
- Cursor was sourced by then-principal Claire Smilow, now a partner at BoxGroup.
- David Tisch, 45, founded BoxGroup and is a scion of the Tisch business family.
- BoxGroup does not take board seats and has no interest in raising a multi-billion fund.
The Cursor Investment
BoxGroup first wrote a $750,000 check to Cursor CEO Michael Truell in 2022. The firm made two follow-on checks, bringing the total return to about $1 billion after the SpaceX acquisition. Cursor was sourced by Claire Smilow, then a principal and now a partner at BoxGroup. Tisch said the decision to invest was based on the people, not the original idea of AI for computer-aided design.
BoxGroup's Contrarian Model
BoxGroup avoids board seats, media appearances, and large funds, focusing instead on early-stage people-first investing. Tisch stopped tweeting in 2015 and has no interest in raising a multi-billion fund. Benchmark partner Jack Altman called David and BoxGroup 'the last stalwarts of highly collaborative investing.' The Cursor acquisition affirms Tisch's strategy that the person being backed matters most.
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BoxGroup's $750K Cursor bet yields $1 billion in SpaceX acquisition
