Formation 8 was an American venture capital firm founded in 2011 by Joe Lonsdale, Jim Kim, and Brian Koo.

[4] It recorded a net internal rate of return (IRR) of 95%, easily making it one of the best performing funds in the industry.

Its notable hits included Oculus, acquired by Facebook for $2 billion, and RelateIQ, the startup bought by Salesforce.com for $390 million.

[6] In November 2015, the company disbanded, and the founders went their separate ways, reportedly because the founding partners had different investment strategies and interests.

[7] Axios reported closure was due to a string of bad investments and Koo leveraging a fund without limited partner approval via a loan.