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Our Culture

What you believe and what you value as an organization matters. Discover the DNA of our firm.

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Our People

Get to know our teams and the stories of select staff members who share why they choose to work at Sands Capital.

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News & Events

Read about some of the latest events, partnerships, and business highlights from Sands Capital.

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Careers

At Sands Capital, we strive to hire exceptional talent who will live our values and support our efforts to deliver on our mission.
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Decoding Software's Future

The combination of software and the move to cloud computing remains one of the largest secular growth trends we see, which is driving increased demand for scalable, cloud-based solutions across every sector of the economy.

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Episode 10: Flutter

In this episode of What Matters Most, we delve deep into the world of online sports betting, focusing on the global leader, Flutter. Research Analyst Katherine Bates joins us to discuss Flutter’s journey, its innovative strategies, and how it’s transforming the gambling landscape.

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Instilling a Long-term Focus

At Sands Capital we encourage our investment team to think in decades not quarters. Director of Research Michael Raab, CFA discusses how culture can support the visionary research needed to find businesses creating the future.

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Nubank Transforming the Industry, One Market at a Time

Nu Holdings’ Nubank focuses on driving financial inclusion among underbanked populations who lack sufficient access to mainstream financial services and products, including access to common banking services, such as credit cards or loans.

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Philosophy & Approach

Our philosophy is rooted in the belief that, over time, stock prices will reflect the earnings power and growth of the underlying businesses.

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Stewardship

Our latest annual report offers a comprehensive view of how we add value through active stewardship.

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Public Equity

Our newest strategy takes an unconstrained approach to seeking the best growth businesses outside of the U.S.

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Venture & Growth Equity

Sands Capital invests in innovative businesses across all stages of the growth spectrum

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red-haired man in a checkered shirt in a jacket smiles at the camera

Stephen Zachary, PhD

Managing Partner

Joined Sands Capital

2016

Work Experience

Sands Capital Ventures (2021 – 2022)
Arlington, VA | Partner

Sands Capital Ventures (2018 – 2021)
Arlington, VA | Principal

Sands Capital Ventures (2018)
Arlington, VA | Sr. Associate

Sands Capital Ventures (2016 - 2017)
Arlington, VA | Venture Associate

T. Rowe Price (2016)
Baltimore, MD | Equity Research Extern

Johns Hopkins University (2008 - 2010)
Baltimore, MD | Laboratory Technician

Dickstein Shapiro LLP (2005 - 2007)
Washington, DC | Paralegal

Education

Johns Hopkins University
PhD | School of Medicine

Washington & Lee University
BA | Philosophy

Stephen is a managing partner on the Life Sciences Pulse strategy, which he founded in 2019. Stephen joined Sands Capital in 2016. He has served on the boards of several therapeutics, diagnostics, and life sciences tools portfolio companies. Stephen received a PhD in neuroscience from the Johns Hopkins School of Medicine. He attended Columbia University for postbaccalaureate studies and received a BA in philosophy from Washington and Lee University. Stephen is a member of the Kauffman Fellows.

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Arlington, VA 22209, USA
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Disclosures and Definitions

Notice for non-US Investors

Sands Capital is an active, long-term investor in leading innovative growth businesses, globally. Our approach combines analytical rigor and creative thinking to identify high-quality growth businesses that are creating the future. Through an integrated investment platform spanning venture capital, growth equity and public equity, we provide growth capital solutions to institutions and fund sponsors in more than 40 countries.

An independent, staff-owned firm founded in 1992 and headquartered in the Washington, D.C. area with offices in London and Singapore, Sands Capital managed more than $53.9B in client assets as of September 30, 2024.

For institutional and professional investors only. Investment advisory fees are described in Part II of the adviser’s Form ADV.
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