I had a chat with Buckley, Curtis and Cantor about the new fund and company and the way that they hoped to differentiate Hyper in a world of aggressively service-oriented venture firms. Product Hunt, however, is the first of what the team says will be many companies it will own, create and operate in order to provide ‘direct value’ to its portfolio companies. The fund will exist as a ‘sister company’ to Product Hunt. The fund is taking applicants worldwide though notes that some countries present legal complexities for investment. The team will be writing $300k checks for 5% of very early companies in any arena that seems promising to the partnership in a fixed deal structure that mirrors Y-Combinator.
The fund is launching as a straight up venture effort, with a bit of gas added by the Product Hunt association. The second cohort will open in November 2021. The applications are planned to open for roughly 4 weeks every quarter and the deadline for this tranche is August 10th, 2021 at midnight PT. The announcement today is the Hyper the fund, and the fact that they’re opening applications to a small cohort of 25 companies. The fund launches today and is self-described as ‘inspired by the Product Hunt community’. Malika Cantor as Partner and GM and Ashton Brown as Head of Program. Two ex-Sequoia operators are part of the team at launch as well. Hyper is a $60M early-stage fund co-founded by Josh Buckley, Product Hunt’s current CEO along with writer, founder and designer Dustin Curtis.
0 kommentar(er)
