Document: Techstars raising a $400M startup fund
November 28, 2017 | Startland News Staff
Accelerator and investment firm Techstars is working to raise a massive new fund to boost portfolio startups around the world.
Techstars — which operates an accelerator program in Kansas City — is now raising a $400 million fund, according to a filing with the Securities and Exchange Commission. The fund more than doubles Techstars Ventures’ $150 million fund from 2015. Techstars CEO David Cohen and Techstars partners Mark Solon and Jason Seats are all listed as fund directors, according to the filing.
The $400 million pooled investment fund should allow the venture group to make larger investments in more established ventures. Techstars has helped spark more than 1,100 companies with a collective valuation of more than $10 billion, according to the company’s data.
Based in Boulder, Colorado, Techstars operates 34 accelerators across the globe that help launch more than 300 startups each year. In exchange for 6 percent equity, Techstars startups receive $120,000, participation in the three-month accelerator program, as well as access to a global network of mentors.
In Kansas City, the firm has helped launch 40 ventures through the 2014 – 2016 Sprint Accelerator powered by Techstars and the 2017 Techstars Kansas City classes. Check out Techstars’ latest Kansas City class here.
2017 Startups to Watch
stats here
Related Posts on Startland News
Emerging at Pure Pitch Rally: These 8 young startups hope to close a critical funding gap
Eight emerging tech startups are rallying for the Pure Pitch stage as one of Kansas City’s premiere pitch competitions approaches a decade of impact and innovation. “This is the ultimate affinity and legacy club that grows businesses in Kansas City,” said Karen Fenaroli, presenting sponsor and founder of the Pure Pitch Rally, which returns Monday…
BarGlance acquires Updown Nightlife App; founder says deal will scale AI-infused tech even faster than he imagined
In a strategic move to elevate the Midwest’s nightlife scene on a national level, founder Joshua Lewis said, the Updown Nightlife app has been acquired by BarGlance, an AI-powered nightlife tech company. The deal — valued at $5 million, Lewis said — celebrates Updown’s 10-year anniversary, marking a significant milestone for the app that put…
Kansas City-built Boddle earns $500K Yass Prize Finalist Award, hits 2M monthly users
MIAMI — Winning a coveted award from Stop for Education is expected to empower Boddle Learning to reach a broader audience than ever before, as well as significantly expanding its curriculum and advancing its cutting-edge AI-powered education tools. Boddle, which launched and grew in Kansas City before relocating to Tulsa, Oklahoma, was announced as a…
Chan Zuckerberg funds KC nonprofit to help AI tech empower educators, innovators
A nearly $1 million grant from the Chan Zuckerberg Initiative is expected to help a Kansas City-based nonprofit expand and strengthen the infrastructure of its national education research and development coalition, its founder said. The funding specifically supports Leanlab Education’s American Group of Innovative Learning Environments (AGILE) Network, a national education R&D network and collective…