David Spencer is a huge advocate for San Antonio's technology community. He was a founding board member and co-chair of the San Antonio Technology Accelerator Initiative, known as SATAI. He also served a two year term as chairman of the Texas Emerging Technology Fund, which invested in early stage technology companies in Texas. Aside from his public advocacy for the technology industry, Spencer is an entrepreneur. He founded OnBoard Software with a friend in 1996 when his employer, Kelly Air Force Base shut down. The software development company grew to $17 million in annual revenue providing engineering, software and other services to the Department of Defense and other military contractors. In 2005, Spencer sold OnBoard Software for $34 million to MTC Technologies. Spencer then launched Mandelbrot Ventures to provide pre-seed and seed-stage investments in Texas-based technology companies. He also launched Texas Intrepid Ventures, aimed at fostering medical startups. In addition to tech startups, Spencer also co-founded The Bank of San Antonio in 2007 and he remains on its board. Spencer's philanthropic efforts are focused on community, and board involvement is focused on wounded warriors, trauma, technology commercialization, K-12 public education, information assurance and security and the College of Engineering at the University of Texas at San Antonio. Spencer and his wife, Jennifer, have four sons and live in San Antonio.