Add the name Screendoor to your list of venture firms wanting to make a difference for underrepresented Founders, but also in a somewhat different way.
Through an open and rolling application process that was announced last week, Screendoor will invest capital in select U.S.-based solo General Partners or venture funds that have at least one underrepresented General Partner. Initially, Screendoor will target about 15 commitments ranging from $500,000 to $5 million per fund, leaving enough room for the participation of other investors but being able to help anchor a firm and catalyze its first close when necessary.
The Founders also say that “every Screendoor commitment goes beyond capital to provide selected investors with direct, on-going mentorship from tenured seed stage investors, and LPs, with experience launching and managing their own firms. Our goal isn’t just to raise funds, but to help build lasting firms.”
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