The Syndicate Fund (TSF) is a new technology investment fund based in Minneapolis with a thesis of investing between $50k-$100k into emerging technology companies, aka ‘seed stage.’
“We are officially open for business…” Managing Director Brett Brohl says of TSF ramping up.
“We have capital on hand, are already hearing startup pitches and we’re welcoming new members. It’s all happening right now.”
TSF focus revolves around the technology side of verticals such as retail, marketing, food, & agriculture. Aiming to back 8-12 companies from across the US, fund I is currently on track for ~$1m close on June 29th. From the website:
1. The Syndicate Fund (TSF) management team sources, vets, and makes investment decisions from their traditional early stage venture fund in pre-seed and seed stage startups with high growth potential.
2. Once TSF has formally committed the startup has the opportunity to provide diligence information (supplemented by an investment overview provided by the TSF team) and reach out to our Syndicate members to pitch for additional capital.
3. Syndicate members have two weeks to make additional commitments to our entrepreneurs.
4. TSF collects all additional commitments and closes on behalf of both the fund and the Syndicate, maintaining a clean cap table for our entrepreneurs.
5. TSF’s team and our Syndicate members remain engaged as active mentors, as needed, for our portfolio.
Syndicate members must be invested into the fund at a minimum of $25k, says Brohl. “Our members are those who both want to get involved with local startups and are willing to put their own money down, that’s the qualification.”
Brohl is a member of the Techstars Retail Accelerator and a Director of Techstars Startup Next Food & Ag. He’s been on both sides of the table before, entrepreneurially with Scrubadoo, Easy Info and BoomBoom Prints. He has also made personal angel investments into Branch Messenger, Nexosis and AddStructure — all three tied closely to Target’s TechStars Accelerator and Matchstick Ventures.
“It’s hard to break into investing, I know that having gone through it myself,” he reflects. “We’ve designed The Syndicate Fund to address the challenges that first time investors face so as to increase the number of new investors in this community.”
The Syndicate Fund is hosting it’s first open + free investor education event happening on June 14th around the virtuous cycle of supporting startups and making money in the process.