Minneapolis seed stage investor The Syndicate Fund (TSF) has announced the first three deals from their inaugural $1.2m fund.
Upsie – Minneapolis – $100k – Clarence Bethea – is a mobile app that’s disrupting the traditional warranty industry by reinventing and demystifying the warranty experience for customers.
Structural – St. Paul – $50k – Scott Burns – an employee success management platform to unleash the potential of people and teams.
X Mode – Virginia – $100k – Josh Anton – X-Mode helps solve for “x” by using real-time location solutions to power our partners in advertising, trading, market research, college safety, and nightlife.
The thesis involves investing $50k – $100k in pre-seed/seed stage tech companies located anywhere in the US, focused around applications in food, agrictulure, marketing, and retail. Brohl says startups “don’t have to revenue but need MVP in the market with some user validation,” and TSF is comfortable with terms such as SAFE, equity, and convertible notes.
As a fund, they are targeting roughly investments overall with a plan to have allocated their entire $1.2m into 10-15 more companies by this time next year.