February 10, 2025

HX Venture Fund VC: Craft Co-Founder David Sacks' ‘AI Czar’ Role

Craft Ventures co-founder and “PayPal Mafia” member David Sacks was tapped by the Trump transition team Thursday to be the “White House AI & Crypto Czar,” the administration’s latest move to bring tech allies into the fold.

A spokesperson for Craft Ventures told Bloomberg that Sacks will not be leaving the firm. The key-person clause in his LP agreement prevents him from taking on a full-time position in the White House.

Still, Sacks’ new role would grant him wide leverage to direct the executive branch’s approach to crypto and AI regulation—areas that could carry sweeping consequences for the startup world, including companies in Craft Ventures’ portfolio.

Read the full article in Pitchbook.