Solari Capital Research
Investment Thesis
Solari Capital is a New York-based investment firm founded in 2024 by AJ Scaramucci (son of SkyBridge Capital founder Anthony Scaramucci) around the idea of "programmable reality": the argument that compounding computing power is making biology, intelligence, physical matter, and money engineerable the way software became engineerable over the last two decades. The firm organizes its portfolio into four themes on its own site: Programmable Intelligence (frontier AI), Programmable Matter (space and energy), Programmable Bio (synthetic biology and therapeutics), and Programmable Finance (crypto, derivatives, and market infrastructure). Solari emerged from stealth on September 24-25, 2026 after operating quietly for roughly three years, revealing that it had deployed approximately $350 million since founding. Backers in the firm itself include SV Angel founder Ron Conway, Breyer Capital's Jim Breyer, Bain Capital co-chairman Stephen Pagliuca, former Alphabet CEO Eric Schmidt, and Peter Diamandis.
Stage Focus
Solari spans early-stage venture investing, late-stage growth checks, and company creation: it builds and incubates companies in-house (Radial Health, Fission, Treasure Trove, and Genius Terminal are flagged as incubations on its own portfolio page) rather than investing exclusively as a passive early-stage fund. Publicly known deals range from early conviction bets (Suno, Varda Space, Northwood Space) to large late-stage/growth checks (a $220M round in American Bitcoin) and pre-IPO-adjacent positions (Radial Health trades on the Nasdaq Private Market).
Check Size
No standard check size has been publicly disclosed. The $350M deployed since founding spans everything from early venture rounds to a single $100M+ contribution to a $220M growth financing, so the firm's check size varies enormously by stage and conviction rather than following a fixed band.
Lead Tendency
Solari has led or co-led significant rounds, including the $220M American Bitcoin financing (contributing over $100M) alongside the Scaramucci family, and originates its own incubated companies rather than only participating in syndicates.
Recent Activity
- September 2026: Emerged from stealth, disclosing ~$350M deployed since founding.
- November 2025 (round closed mid-2025, publicly reported November 2025): Led/co-led a $220M financing in American Bitcoin, the Trump-family-linked Bitcoin mining company, contributing over $100M.
- December 2025: Participated in Radial Health's $50M Series A alongside General Catalyst, to expand access to interventional psychiatric treatments.
Fund status: actively deploying.
Portfolio Highlights
Solari's public portfolio (32 companies across its four themes) includes marquee names such as xAI, Suno, Solana, and Varda Space, alongside a cluster of space companies (Apex Space, Northwood Space), energy companies (Base Power, Giga Energy), synthetic-biology and therapeutics companies (Tessera Therapeutics, Mammoth Bio, Cambrian Biopharma, Nucleus Genomics, Gameto), and crypto/fintech infrastructure plays (Solana, Avantis, Concrete Protocol, American Bitcoin, Architect Financial, M Zero). Its flagship in-house incubation, Radial Health, has reached the Nasdaq Private Market as a pre-IPO name.
Team
- AJ Scaramucci, Founder and Managing Partner — Son of Anthony Scaramucci; Stanford GSB; founded Solari in 2024 around the "programmable reality" thesis.
- Rayhan Arif, Partner — Harvard; previously with Sir Richard Branson's family office managing the Virgin businesses and investment portfolio.
- Rahul Rana, Investor — Joined as employee #1 roughly three years before the September 2026 stealth emergence; author.
Decision Process
Small-partnership model: Managing Partner plus a small team of partners/investors rather than a solo-GP or large investment committee structure.
Founder Preferences
Solari's own framing favors "courageous, mission-driven entrepreneurs" building at the edge of what is currently possible in AI, space, energy, biology, and financial infrastructure — founders comfortable with frontier, capital-intensive, longer-horizon bets rather than incremental SaaS.
Geographic Focus
Headquartered in New York; portfolio is concentrated in the US with global-relevance names (xAI, Solana) but no explicit stated international focus.
Notable Context
Part of Scaramucci's public pitch is a critique of how long companies now stay private (12-15 years to IPO versus ~4 in the 1990s), which motivates Solari's interest in liquidity-generating structures like tokenized private shares (Fission) and pre-IPO trading venues (Radial Health on Nasdaq Private Market).