Hackers/Founders Announces $20M Venture Fund To Invest In Startups, At White House Demo Day
- Aug. 4, 2015Sudarshana Banerjee
Hackers/Founders, the world’s largest network of entrepreneurs, and parent organization behind the H/F Co-op startup accelerator, is launching a $20 million venture fund to invest in startups; partnering with Women 2.0 to encourage participation from women entrepreneurs.
WASHINGTON, D.C., 4th. August 2015: Hackers/Founders (H/F), the world’s largest network of entrepreneurs, and a startup accelerator with $400 million in portfolio companies, is happy to announce a $20 million venture fund - the H/F Fairchild Fund - to invest in early-stage technology startups.
The announcement was made as part of the White House Demo Day celebrations. H/F is happy and proud to be invited to be part of the Demo Day, and would like to thank President Barack Obama, and the White House officials, for working tirelessly to promote technology innovation, and for fostering an ecosystem that nurtures startups.
H/F will be partnering with Women 2.0, the world’s largest community dedicated to fostering inclusion in the technology industry, to actively encourage participation in the H/F Fairchild fund and the Co-op acceleration program, from women entrepreneurs.
Speaking on the occasion, Jonathan Nelson, founder and chief executive officer of Hackers/Founders, said, “One of our portfolio companies, Tripping, just raised $16 million in funding. Tripping is lead by Jen O’Neal, a remarkable woman, and we could not be prouder of her.”
Mr. Nelson adds, “Diversity isn’t just the right thing to do, it’s great business. Women control 60 percent of household spending, and heavily influence 95 percent of household spending. Why are only 4 percent of startups funded by venture capital in Silicon Valley, led by women? What can we do to help address gender bias, in the innovation capital of the world?”
According to Shaherose Charania, CEO at Women 2.0, and a firm champion of the inclusion of women in technology, “Access to funds is the essential fuel that lets startups move forward. The Hackers/Founders fund is committed to evaluating new startup ideas purely on their potential in the market, by removing qualitative biases in the selection process.”
Ms. Charania adds, “As a partner, I’m excited to share this opportunity to further support our community of early-stage founders in technology, and look forward to a future where diversified startups teams are the norm.”
The H/F Co-op is one of the most diverse startup acceleration programs in the world, with representation from minority communities, typically under-represented in venture capital. Not only that, the acceleration program has supported entrepreneurs from Australia, India, Mexico, Argentina, and Rwanda.
The H/F Fairchild Fund, in keeping with the investment philosophy and culture of H/F Co-op, is also encouraging entrepreneurs from diverse backgrounds to apply for funding. More information on the application process can be found here.
Hackers/Founders started out as a meetup of five people, and over the last seven years have grown to be one of the largest network of entrepreneurs in the world, with over 106 chapters, and 200,000 people worldwide. The Silicon Valley arm of H/F has over 12,000 members, and the numbers keep growing.
Hackers/Founders also has an acceleration program, the the H/F Co-op, for startups available to entrepreneurs worldwide. The Co-op is based in Mountain View, California; as well as in Guadalajara, Mexico, where the acceleration program is a joint venture between H/F and the Government of Mexico. H/F Co-op portfolio companies have a net worth of over $400 million and have raised over $55 million.
About Women 2.0
Women 2.0 is the world’s largest community-driven media brand, designed for the next generation of technology leaders. Women 2.0 creates content, community and events for aspiring and current innovators in technology. It’s mission is to strengthen technology businesses by connecting, inspiring and educating the next generation of technology leaders.
For additional information, or to schedule interviews, please contact --
Hackers/Founders, H/F Co-op
Cell phone: +1 408 373 1226 Email: [email protected]
H/F Co-op Mexico
Cell phone: +569 660 89413 Email: [email protected]
H/F Fairchild Fund
Cell phone: +1 415 336 1808 Email: [email protected]
Cell phone: +1 415 299 7166 Email: [email protected]