Zach Ware co-founded and led the Downtown Project in Las Vegas, deploying $350-500M into over 40 acres to make downtown "the most community-focused city in the world," blending tech, small business, and urban revitalization. He takes an unusually hands-on approach with founders, including taking them camping in Montana for distraction-free conversations, and maintains his own portfolio of operating roles in real estate and hospitality while investing, positioning himself as a "builder" first and investor second.
What they've been talking about across their social media accounts

- Analyzes product strategy through the lens of incentives and shipping velocity. He frequently deconstructs how major platforms operate, such as observing that Instagram's primary skill is rapidly copying features from competitors like TikTok or Snapchat to retain users, rather than creating original innovations.
- Values operational efficiency and execution in physical infrastructure. He contrasts the successful, cost-effective development of the private Brightline train system against stalled public projects like California's high-speed rail, suggesting a preference for builders who can actually navigate regulation to get things done.
- Critical of user experience failures in widely used tech products. He points out the irony of massive tech companies failing at basic utility, such as Google Maps having terrible restaurant menu formatting despite their computing power, or Instagram having intentionally broken search functionality to keep users scrolling.
- Tests AI tools with a skeptical, practical eye regarding their limitations. He shares specific instances of models failing, such as Grok completely fabricating testimonials about moving a sauna or listening to background TV ads and repeating them.
- Appreciation for thoughtful design in physical environments and hospitality. He pays attention to tangible details, like the importance of a hotel lobby not smelling like chlorine or the functional necessity of a coffee cup lid that actually seals, valuing these practical elements over aesthetic signaling.
- Respects the grind and resilience required for entrepreneurship. He frames the daily life of a founder not as a series of crises but as a standard routine of solving problems, noting that what looks like a catastrophe to an outsider is just breakfast for an operator.
About their Fund
Sectors
Ecommerce, CPG / D2C, SaaS, Deeptech / Hardware, Enterprise
Rounds
Pre-Seed - Seed
Avg Check Size
$200K - $1M
Notable Investments
VTF Capital originated as the venture arm of Tony Hsieh's Downtown Project, deploying $50M to simultaneously seed startups and catalyze urban redevelopment in downtown Las Vegas by backing founders who were committed to living in and helping grow the local community. The fund has evolved from geographically concentrated to thesis-concentrated on "future of commerce," investing in companies with unique technical advantages beyond their product and complete ownership of commerce problems rather than just brand or storefront differentiation.
Other partners at the fund
Notable Fund
Investments
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