8 years ago

Entrepreneur First raises $12.4M led by Greylock, Reid Hoffman joins board

  • Entrepreneur First (EF), a London-based company builder that invests in individuals “pre-team, pre-idea” to help create new technology startups, has raised $12.4 million in new funding led by Greylock Partners

  • The investment also sees Greylock partner and co-founder of LinkedIn Reid Hoffman join the board

  • Other investors joining the round include Mosaic Ventures, Founders Fund, Lakestar Capital and Deep Mind founders Demis Hassabis and Mustafa Suleyman

  • Notable is that a number of EF alumni are also investing

  • They are Rob Bishop and Zehan Wang of Magic Pony Technology, which was sold to Twitter for a reported $150 million, and Bryan Baum, who co-founded Represent, which was sold for a reported $100 million

  • The new funding round is for operational costs and to further scale the EF program

  • It is entirely separate from the company builder’s investment fund from which it directly invests in the founders and startups it helps create

  • EF has helped more than 500 individuals on its program, who have built more than 100 companies with a total (mostly on paper) valuation exceeding $1 billion.

      • ProblemTechnology

      "Finding and building great tech companies is difficult, especially outside Silicon Valley. Many talented individuals with the potential to be great entrepreneurs lack the opportunity, guidance, and resources to create their own companies."

      Solution

      "Entrepreneur First (EF) provides a six-month program for aspiring entrepreneurs. It helps them find co-founders, develop ideas, and build tech startups. EF offers financial support, office space, mentorship, and a pre-seed funding pool."

      Covered on