Venture Capital: Entrepreneur First Raises $158M From Crème de la Crème Of Tech, Including Stripe Founders
The Collison brothers, who co-founded Stripe, join Entrepreneur First as investors.
Entrepreneur First, the UK-based VC firm run like a startup, has raised a $158 million Series C round at a valuation of $560 million. Known for its unorthodox (but highly successful) approach to selecting founders to back, Entrepreneur First’s portfolio covering over 500 companies has already generated over $10 billion in value.
Entrepreneur First encourages innovation and ideas, and it’s possible it may back a founder without even a startup in place. It matches together founders, or would-be founders, with other like-minded visionaries, with potential access to a global network of founders, advisors, and investors. Typically, an EF cohort runs for six months of which three months are for ideating and finding a co-founder; the other three months are to set up a pitch for external investors.
And the results from this seemingly hodgepodge method have been outstanding, as stated above.
Good enough to attract backing in Round C from an alliance of technology leaders, including Patrick Collison and John Collison (co-founders of Stripe); Tom Blomfield (Monzo and GoCardless); Reid Hoffman (LinkedIn and PayPal); Matt Mullenweg (WordPress); and Nat Friedman (GitHub).
According to Tech Crunch, about $100 million from the current raise would go to continuing investments in startups and entrepreneurs.
EF will take its successful recipe to Web3 in Autumn of 2022 when it will launch the first cohort of its new platform, Entrepreneur First Web3, in partnership with the Tezos Foundation.
It is also developing a tool, Form – a software for founders.
Latest Alternative Investment News
Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…
Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…
Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…
US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…