Got an idea? Need cash? Get funded upto $250K
http://www.crv.com
Posted by Startups.in 1367 days ago ¦ Videos on Startups.in/Exchange ¦ Have your say about the new look
Posted by Startups.in 1367 days ago ¦ Videos on Startups.in/Exchange ¦ Have your say about the new look
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Do you have a great idea at work but struggling for funds? Then this could be the perfect opportunity to get up to $250,000 in investment with very few strings attached. To qualify, all it takes is just two of CRV's five general partners to believe in you idea and give a go ahead.
Charles River Ventures (CRV), one of the most respected and successful early-stage venture capital firms in US with approximately $1.8 billion under management has just launched QuickStart Seed Funding Program. This program makes it very easy for startups to seek up to $250K in working capital to finance the work necessary to build out their ideas and better explore market potential in preparation for raising a first formal Series A equity round.
"Getting a big idea off the ground takes a lot more than innovative thinking. It takes time, resources and capital," said George Zachary, general partner at CRV. "All too often, raising seed capital consumes precious time that can be better spent applied to the actual implementation of an idea. In addition, when entrepreneurs do find capital, it often comes at a high price in the form of painful dilution that translates into the entrepreneurs getting less than their fair share. CRV QuickStart will accelerate and simplify the process for launching new ideas to allow early evaluation of their potential. As a result, entrepreneurs gain a time-to-market advantage that will help true innovators rise to the top quickly."
More details can be found @ "QuickStart Seed Funding Program".
We wish you good luck and hey if you heard about it from this site and cut a deal, then we hope you'd keep us on mind. ;-)
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Man crv guys are moving fast. It was just yesterday or maybe the day before i guess sramana mitra wrote about crv's angel plans. BTW what does "Few Strings Attached" mean. At what "valuation" of the company are these guys planning to enter. $250k for an early stage venture could well mean a Looooot of the preferred stock. Hmmmm.
Suman, I meant under the new program, CRV would not be insisting on being involved in day-to-day operations, be engaged in every decision you have to make etc. IMO, they stand some where in between traditional VCs and angel investors. Also, if I interpreted it correctly, this is more like a debt that would be converted to equity if and when your startup closes series A. Valuation doesn't even come into picture until then.
Makes good business sense for them i guess. A 1.8 billion fund micro managing 250k infusions into companies won't work out anyway. And debt equity(i guess VCS are preferred here)? When you are saying they are falling in between a traditional VC and an angel, what i can gather is that they will play a mentorish role together with capital infusion into the company. Yet one cannot leverage their influence as much as one could do with VCs. So its strictly cash for growth. Am i right?
"So its strictly cash for growth." - yup..right on. Also, don't think they would make more than 20-25 deals/year. so @ 250K/deal; the upper bound would be 6.25 mil/yr. why do you say it won't work out?? They can easily work their way to profits even with 10% success rate.
Hey,
I think you misunderstood me
>A 1.8 billion fund micro managing 250k infusions into >companies won't work out anyway.
I meant they can't micromanage or give each venture much attention the way VCs do. I meant that micromanaging and dedicated face time is not possible when as you said they fund 20 to 25 companies per year.