Early stage startups in the PNW now have another potential source for funding — and expert guidance. Bend-based FoundersPad
announced the closing of a new fund, which will complement its revamped mentorship program.
The early-stage fund expects to invest between $25,000 and $75,000 per startups, funding between four and six startups each year. The FoundersPad team isn’t taking applications, but plans to find startups that have already gained some early customer traction, have a balanced founders team, haven’t taken on other professional capital and are primed for growth.
“Launching this new fund to complement our deep mentorship approach lets FoundersPad help our portfolio companies in a much more effective way,” says Jason Moyer, the FoundersPad fund manager, in a news release. “Most early stage companies need expertise and capital, typically in that order, and FoundersPad is strongly positioned to provide both.”
More from the release:
FoundersPad’s unique model delivers extensive hands-on support to each portfolio company with a carefully curated team of relevant mentors who are committed to de-risk and grow their business.
“Being a Founder is often a long, brutal and lonely journey. It’s survival of the fittest at its very best, where mistakes can be deadly,” said FoundersPad Principal, Chris Capdevila. “Unlike many venture funds that promise support for their portfolio companies and repeatedly fail to deliver, we provide founders an unfair advantage on their journey with intense mentoring from successful founders who have walked in their shoes and the right amount of capital at the right time.”
Bend startups Amplion, CrowdStreet and Droplr are all products of FoundersPad. The early-stage fund’s principals also include Dino Vendetti and Matt Abrams, general partner and investment partner as Seven Peaks Ventures, respectively.
FounderPad’s goal is to help startups mature to the point where they’re eligible for further funding, from VCs such as Seven Peaks and beyond. Congrats FP team. Looking forward to a new year of new startups and new investments.