Who Is Dave McClure?

David McClure is an angel investor, entrepreneur, and another member of the PayPal mafia. Born in Morgantown, West Virginia, McClure graduated from Johns Hopkins University with a Bachelor of Science in Mathematical Engineering in 1988. While the exact circumstances are unclear, McClure found his way to PayPal in 2001 and served as its director of marketing until 2004. McClure popularized the AARRR Funnel and Pirate Metrics.

Category	Details
Full Name	David Lawrence McClure
Date of Birth	January 1, 1966
Place of Birth	West Virginia, USA
Nationality	American
Education	Bachelor of Science in Engineering from Johns Hopkins University
Early Career	Software developer and technology consultant, Worked at companies like PayPal, Intel, and Microsoft
Major Companies Founded	500 Startups
Positions	Founding Partner at 500 Startups
Major Projects	Launched 500 Startups, a global venture capital seed fund and startup accelerator
Notable Achievements	Invested in hundreds of early-stage startups globally, Significant influence in the startup ecosystem
Net Worth	Not publicly disclosed, Estimated to be substantial due to successful ventures
Personal Life	Known for his outspoken and candid personality, Advocate for diversity and inclusion in the tech industry
Controversies	Resigned from 500 Startups in 2017 following allegations of inappropriate behavior, Public apologies and acknowledgment of misconduct
Philanthropy	Supports various initiatives to promote diversity in tech, Mentor to many young entrepreneurs
Vision for Future	Focus on empowering underrepresented entrepreneurs, Advocates for more inclusive startup and investment environments
Awards and Honors	Recognized in the startup community for contributions to entrepreneurial education and support, Featured in various business and technology publications

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Table of Contents

Early career

Post-university, McClure worked as a software developer for Microsoft and Intel where, among other things, he created client-service applications and database systems.

He then founded tech consultancy firm Aslan Computing in 1994, sold it four years later to Servinet (now Panurgy), and worked briefly for that company until stepping down in the second half of 1999.

Venture capital endeavors

After a brief stint at the LinkedIn-esque platform known as Simply Hired, McClure decided to move on. He wanted to break into the VC industry, but because of the dire economic climate in the early to mid-2000s, he found securing employment difficult.

In 2008, he was offered a position at Founders Fund by Napster founder Sean Parker. McClure initially turned the offer down, but later changed his mind.

McClure was keen to strike out on his own, however, and left Founders Fund in 2010 to found the VC firm 500 Startups with Christine Tsai. There, he oversaw the investment of around $500 million across more than 2,500 start-ups.

After voluntarily stepping down from 500 Startups in 2017, McClure then founded Practical Venture Capital. On the firm’s website, it promotes the “Skip the J-Curve” strategy which promotes buying venture portfolios and companies between 5 and 10 years old.

Key highlights about David McClure:

Early Career: McClure started as a software developer for Microsoft and Intel, gaining experience in creating client-service applications and database systems. He later founded tech consultancy firm Aslan Computing, which he sold to Servinet (now Panurgy) four years later.
Venture Capital Journey: McClure ventured into the VC industry after working briefly for a LinkedIn-esque platform. He initially struggled due to economic challenges but eventually joined Founders Fund in 2008, later co-founding 500 Startups with Christine Tsai in 2010. At 500 Startups, he oversaw investments of over $500 million across 2,500 startups.
Founding Practical Venture Capital: After leaving 500 Startups in 2017, McClure founded Practical Venture Capital. The firm promotes the “Skip the J-Curve” strategy, advocating for buying venture portfolios and companies between 5 and 10 years old.
Contribution to Startup Ecosystem: McClure popularized the AARRR Funnel and Pirate Metrics, which have become foundational concepts in startup growth and metrics tracking.
Background and Education: McClure was born in Morgantown, West Virginia, and graduated from Johns Hopkins University with a Bachelor of Science in Mathematical Engineering in 1988.
Member of the PayPal Mafia: McClure is part of the PayPal Mafia, a group of former PayPal employees and founders who went on to become successful entrepreneurs, investors, and executives in the tech industry.
Continued Impact: Despite his departure from 500 Startups, McClure continues to contribute to the startup ecosystem through Practical Venture Capital and other endeavors, showcasing his ongoing dedication to supporting and investing in innovative ventures.