We've dedicated $10-$15M of our fund, to make seed investments.
Our target investment size was $500K at the outset. However it has turned out that the average is closer to $250K.
We aim to fund out-of-the-box but capital-efficient ideas that the rigor and pace of our Series A process might not.
We rely on the technical background of our partners, our own networks in the engineering and entrepreneur communities, and our relationships with angels and angel networks.
We expect failures in our seed basket earlier, and in larger numbers, but with lower cost to us in absolute dollars, and less entrepreneur-career-time wasted on ideas that don't work.
We expect the basket as a whole to perform at least as well as a traditional investment, but with increased likelihood of working with entrepreneurs and ideas that we wouldn't have otherwise.
There are already several larger investments in our non-seed portfolio that began as seeds, that we would not be involved with, if it weren't for the seed program.
Why Most Traditional Venture Firms Don't Make Seed Investments
What We've Learned