Dorm Room Fund returns to campus with new $ 10.4 million fund - TechCrunch

Dorm Room Fund returns to campus with new 104

Dorm Room Fund, a venture capital activity launched to invest in student-led startups, has raised a new $ 10.4 million fund, each SEC file. The filing marks Dorm Room Fund 's largest fund to date, and the first of which is likely to involve investors outside First Round Capital, the company that launched a student-focused activity in 2012. SEC filings show the cashback is still ongoing. Both companies declined to comment.

The original vision of the Dorm Room Fund was linked to First Round Capital's promise that early investment could be student - led, for students. In 2012, First Round Capital thus brought a portion of its assets under management - a $ 3 million capital pool - to be managed by a student body. Today, the Dorm Room Fund continues to invest in companies where at least one member of the founding team is a recent student or graduate.

The Dorm Room Fund has invested 326 investments to date, in start - ups such as Brooklinen and Snackpass - as well as venture capital firm Harlem Capital Partners. On its website, the activity states that they are writing SAFE $ 40,000 notes into the startup companies it is bringing back - and that it has teams in New York City, San Francisco , Boston and Philadelphia.

While the focus of the work is largely in the United States, there are some indications that the check - writing focus may be expanding: Dorm Room Fund's latest investment, according to Crunchbase, was in pre-seed tour for Alima, a Mexico City-based company that wants that. making product purchasing easier for businesses.

For Dorm Room Fund, which has been much quieter than investment activity over the past few years, new capital could boost their student - centered activity. As the larger investment world becomes more competitive, investors are encouraged to find talent faster and faster - either through in - house accelerations, unstable programming or, in the case of this, microfund carved especially for entrepreneurs.

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The strategy may feel particularly relevant today, but there is a precedent. Similar to Dorm Room Fund, General Catalyst launched Rough Draft Ventures as a playthrough to increase access to student networks. Contrary Capital, another student - focused venture capital firm, recently announced a $ 20 million fund - their second investment tool to date. In 2022, First Round made another move for early talent: it supported the Graduate Fund, a pre-seed fund that targets recent graduates in undergraduate or masters programs but works independently .

The Dorm Room Fund seems to be preparing for a sort of upgrade. In 2022, the CRM team launched for founders to build a seed cycle, but a year later company CEO Rei Wang resigned to launch The Grand, a learning and development platform to helping people lead change. That same year, the team hired Molly Fowler, who previously worked in politics and urban planning, as the new leader. He also named Chauncey Hamilton as their inaugural COO, former head of staff at First Round partner Rob Hayes, who then left to join XYZ Venture Capital after a little over a year. However, with some new leadership, the Dorm Room Fund seems to be convincing a group of LPs that their long - term focus deserves new capital.

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