17 May 2026

Most of the world's best towns and neighborhoods don't exist yet. We want to fund the people building them — anywhere in the world.

The best new towns and neighborhoods are opinionated — building a way of life, not just real estate.

Three we like:

Esmeralda is building a walkable new town for 1,500 residents in Northern California. Its vision is to emulate the experience of living on a vibrant college campus, for families.

Culdesac is a new car-free neighborhood in Tempe, Arizona. Onsite coworking means residents commute less; when they do, a light rail station is at their doorstep. There are 350 residents; there will be around 1,500 at completion.

Network School is a live-and-work campus in Forest City, Malaysia. It bundles accommodation, community events, office space, gym access and healthy meals into a single subscription.

Once upon a time, nobody commuted. Home, work, school, shops, church, family, friends — all in the same place, all bundled together.

Then we pulled it apart. Cars and zoning moved jobs and shops away. The internet moved your friends and colleagues online. Where you live is just a place to sleep.

The places we like reverse this. New place products bundle what used to be separate — housing, work, community, health. Bundling removes friction: Network School makes it easy to exercise, Culdesac makes it easy to meet neighbors.

New places can incubate their own culture — culture in the same sense as 'company culture' — the unwritten rules, the defaults, the things that are normal here and weird somewhere else. What if your kids could safely run around unsupervised by age 6? What if every adult had a mentee? The best founders of new places obsess about culture as much as the best tech founders do.

Today, every founder of a new place spends years doing work nobody will fund.

Permits in California. Landowner meetings in Dakar. Master plans, soil tests, the first conversations with people who'll live and work there.

Banks want collateral. VCs want scale. Real estate funds want shovel-ready projects.

That gap is our opportunity.

There are thousands of smart people who could start places and don't. A small push at the right place can bring many more opinionated towns and neighborhoods into the world.

Successful traditional developers build … more projects. Successful opinionated places become global brands — worth billions.

The closest example today is Discovery Land Company — operator of 35 second-home golf communities across four continents, with $3.1 billion in 2025 revenue and over $35 billion in cumulative sales.

Are you building an opinionated town or neighborhood? We want to fund you.

Patri, Jon, James, and Tomáš

Patri Friedman is the founder of Pronomos Capital, where he invests in charter cities.

Jon Hillis cofounded Cabin, a networked city of modern villages.

James of Ârc is the founder of Ârc, a charter city.

Tomáš Ruta cofounded Fora, a pop-up city to city platform.

Between us, we have backed a number of startups at the intersection of IRL and community, including Próspera, Itana, Small Farm Cities, Alpha Cities, and MEplace.

Reach us at hi@placeholder.com.