Yesterday, the man filed for the fund with the SEC, providing us with more details (hat tip to FormDs.com). The name will be 500 Startups – McClure has long called himself the master of 500 hats – and the initial fund will amount to max. $30 million according to the filing.
Here’s part of the brief for the logo design:
500 Startups is a new, edgy, risk taking seed fund which invests in early stage consumer internet companies.
Incubator/seed investment funds are popping up left and right and we’re looking to differentiate ourself through edgier design. Our founder likes to swear. In public. A lot. Think Ari Gold, but for tech companies and without a suit.
We are not — *not* — your typical fund composed of a bunch of stiff white guys sitting around a board table. We’re young. We’re diverse (Women! People of color!). Our investments are blustering balls of sleepless eagerness, And the markets we’re looking to dominate are murky and emergent.
- “Fun at All Costs”… authentic, down-to-earth, *real*
- Creative, Smart, Innovative Environment
- Learn & Educate at Same Time
- Move Quickly, Take Risks, Make [Manageable] Mistakes
Sounds like McClure, alright.
For your reference: McClure has been investing in early stage startups for years.
He is a direct angel investor in a half dozen or more startups, including Mint, Simply Hired, Mashery, bit.ly, UserVoice, SlideShare, TeachStreet and others. And he has invested in dozens more through fbFund, a $10 million Facebook investment fund backed by Founders Fund and Accel, and FF Angel, a Founders Fund early stage fund.