Seed funds, accelerators, incubators, micro-funds – these financing structures are so 2011.
Do you really need $20,000 to launch a company today? No way. $20,000 leads to a bloated company that spends too much money and time on Twitter and in demo days.
Today, I am pleased to announce the new generation of startup funding vehicles: The Nano-Fund. It is like an accelerator, yet faster; it is like an incubator, yet leaner. It is 1,000 times smaller than a micro-fund, and our term sheets are only 25 words long!
The deal: Each startup we invest in gets $500, which they must spend wisely over the course of three months. The fund takes 6% in equity, plus it gets the $500 back should the startup get acquired before the three months are over.
What we are mostly proud of is our list of mentors – killer entrepreneurs and thought leaders that are not mentors in ten other accelerators. You may recognize some of the names: Albert Einstein (for geo-spacial apps), John Lennon (for music apps), Steve Jobs (for early-access to iTunes updates), Bill Clinton (‘dating’), Whitney Houston (lifestyle), Lindsay Lohan (porn; Android-only) and many others.
You work out of your own home, yet you get 10-15 minutes of advice over the phone per-month. At the end of the 3-months period there will be a demo day via webex.
Apply now! These four bills can be yours! (we charge $100 management fee).
Update: Applying is easy: simply tweet this blog post or share on Facebook. Our CFO will reach out to you directly. (you can also leave your full credit card details in the comments section of the blog, including the 3 digits behind your card, and we’ll make sure you get credited)