University of North Carolina at Chapel Hill’s endowment surges over 30% after early SpaceX investment

A modest venture capital bet placed over 15 years ago has turned the University of North Carolina at Chapel Hill into one of the best-performing endowments in America. The school’s fund posted returns exceeding 30% for the fiscal year ending June 2026, driven overwhelmingly by an early investment in SpaceX routed through Peter Thiel’s Founders Fund. To put that in perspective, the broader universe of US university endowments posted median returns between 12.7% and 18.9% over the same period. From a few million to billions The UNC Management Company, which oversees investment strategy for the entire UNC system, initially placed just a few million dollars into the Founders Fund allocation that included SpaceX exposure. That was more than a decade and a half ago, when Elon Musk’s rocket company was still a speculative bet on reusable space travel. At its peak, SpaceX grew to represent roughly 10% of the entire UNC system’s assets. UNCMC managed nearly $15 billion in total assets as of March 31, 2026. Chapel Hill’s endowment accounts for almost half of that figure. Ahead of SpaceX’s IPO on June 12, 2026, the fund sold approximately $1 billion worth of its holdings, locking in gains bef...