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New pre-seed fund powered by First Round Capital will target recent graduates

In 2012, early Uber investor First Round Capital decided it needed an avenue to access the best companies brewing inside dormitories across the U.S. So the seed-stage venture capital firm launched Dorm Room Fund, a pool of capital managed by students for students. The project has brought 250 startups, including Harper Wilde and Brooklinen, and more than 400 entrepreneurs into the First Round network to date.
But theres an even bigger community of founders just on the other side of that graduation threshold; and if students can make great founders, then recent graduates make great founders as well, wrote Bruno Faviero, a former managing partner of Dorm Room Fund and current co-founder and chief executive officer of Synapse Technology, in a recent blog post. Yet the level of resources and support drops off when youre no longer in school.
Faviero, in partnership with Segment.com product manager Lauren Reeder, Totemic co-founder Neal Khosla andformer Google project manager Parthi Loganathan, has formedGraduate Fund, a pre-seed fund targeting recent graduates of undergraduate or masters programs. Just like Dorm Room Fund, Graduate Fund is supported by First Round Capital, leveraging the firms financial and managerial expertise but operating independently.
The Graduate Fund will write angel-sized investments or roughly $100,000 checks larger than Dorm Room Funds$20,000 investments to startups that lack a network of angel investors and that are not ready for big-name investor support. The idea is to not only fill First Rounds pipeline of viable investments but to protect projects from turning to startup accelerators that ask for a large stake in return for a small investment.
The Graduate Fund has backed five companies so far: And Comfort, a direct-to-consumer plus-sized clothing brand; Floating Point Group, a cryptocurrency trading platform; Ally Shoes, which makes high-performancehigh-heeled shoes for women; Spellbrush, an AI assistant for artists; and probiotics maker Zbiotics.

The state of seed
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