Ex-500 Startups partners Elizabeth Yin and Eric Bahn need to center of attention on possible affect, no longer on whether or not or no longer founders have some extent from Stanford or some Ivy League faculty. Their function with Hustle Fund, in accordance to assets, is to level the playing the field for marketers in an trade the place pedigree isn’t a just right proxy for good fortune. Hustle Fund in the long run needs to create a real meritocracy in the challenge capital global.
The fund is looking for to carry $50 million, in accordance to an SEC submitting. The goal of the fund, in accordance to assets, is to put money into between 150 to 200 pre-seed corporations with small exams of about $25,000 every. Next Thursday, the fund will formally launch and get started making investments.
The web page is beautiful bare-bones presently, however by way of subsequent week, there might be some founder-oriented fabrics on the web page explaining why founders must need to paintings with Hustle Fund. In addition to investment, assets say Yin and Bahn will assist founders with buyer building, gross sales funnel building, metrics, size and lead technology thru one-on-one training for two to six weeks.
Hustle Fund plans to make investments temporarily and in change, they’ll be expecting the founders to paintings rapid and hustle. If they hustle to Yin and Bahn’s liking, the fund might make investments further cash. How a lot fairness Hustle Fund takes will range from corporate to corporate.
Though Yin and Bahn’s departures from 500 Startups got here in the midst of the drama surrounding 500 Startups founder Dave McClure’s alleged sexual misconduct, the pair was once already making plans on leaving the the accelerator to get started their very own fund. Before Yin and Bahn joined 500 Startups, they’d their very own respective careers as founders. Now, they’re combining their reports as founders and buyers to assist small, scrappy startups.
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