Niv Dror has raised $three million for his debut enterprise capital fund, known as Shrug Capital.
Why it issues: Dror has spent the previous two years as head of promoting for AngelList (through its 2016 buy of Product Hunt), and AngelList has turn out to be a burgeoning launchpad for small enterprise funds.
Dror, who’s leaving AngelList to focus full-time on Shrug, says that he’s investing in founders engaged on “issues that I’m excited to speak about for greater than an hour to a non-tech viewers. “To this point, that’s been largely shopper startups, resembling HQ Trivia, Superhuman, Atoms, Molly, and Breaker.
- “At these early phases it’s all about founders… and Niv has a fairly good eye,” Founders Fund associate Cyan Banister, who personally invested in Dror’s fund.
Dror is following within the footsteps of Product Hunt founder Ryan Hoover who additionally raised his personal small fund final 12 months.
- Each are utilizing AngelList’s VC fund administration service. Within the case of small funds led by angel buyers, there are not any administration charges, although AL takes a portion of the carry for caring for issues on the backend. It is also began managing skilled VC funds, which have conventional payment and carry constructions.
A-list buyers: Dror has been in a position to entice the who’s who of Silicon Valley as buyers into his fund, together with Banister, Chris and Crystal Sacca, Marc Andreessen, Chris Dixon, Amity Ventures, Social Capital, David Sacks, Keith Rabois, and Kevin Rose.
1 enjoyable factor: Dror named his agency Shrug Capital after the ¯_(ツ)_/¯ emoticon, which is tattooed on his wrist.