We are going to raise a fund!!!

We are going to raise a fund!!!

money

As in the normal way we do things yesterday morning over breakfast we decided to do it…..gut feel said it was about time. Several reasons:

  1. We have a unique position as I have built numerous internet companies and still own them…. 50-100 staff, 2-3 million people per day land on web sites we own and run, so we see the internet differently to other investors.
  2. We have unbelievable dealflow of super smart people that nobody wants to back doing stuff that is mad:)
  3. My personal returns ( based on last raises ) on my personal investments is exceptionally good.
  4. We do not agree with the current ways very early stage VC’s work ( love lots of them to bits as mates, but the numbers do not stack up for investors )
  5. We think it could be fun and make a difference.
  6. AngelList works and we will continue to run it but it does not allow us to easily do the amount of deals we want to do ( 1 per week ).
  7. I have some smart, lovely staff who want to do it.
  8. People with money are asking us why we don’t have a fund that they can invest in?
  9. We think we can help make a startups life easier and better, we think we can make a return for investors, we think we can make some cash if it works….but ONLY if it works for everyone…..then we expect to make a load of cash.

This is all stupidly early as the only money in the pot at the minute is mine:)  We now need to sort legals, etc etc etc etc

Cheers

 

Doug