With nearly 40,000 students and eight startup accelerators, UC Berkeley suffers no shortage of ambitious entrepreneurs who want to make a meaningful difference. And now, a recent alum has opened a new investment fund solely dedicated to supporting startups being developed by Berkeley students, faculty and alumni.
The House Fund, a $6 million pre-seed and seed-stage venture fund, was started by 24-year-old Jeremy Fiance, who as a new student on campus five years ago, saw a need for a more cohesive community for Berkeley startup founders.
“I realized that building The House Fund, the one and only fund built by and for Berkeley startups, was not only necessary, it was inevitable given the number and quality of startups being built here,” Fiance wrote in the fund’s announcement. “At The House Fund, we believe entrepreneurs in Berkeley are in one of the best places to build a startup.”
The fund — the first committed to Berkeley startups — aims to not only provide investment support, but also mentorship opportunities so entrepreneurs can thrive in growing their businesses.
“When you start a company, you want to be around people who can guide you in the process,” said Pieter Abbeel, professor of computer science and co-founder of Gradescope, an online grading app supported by fund. “The House Fund has a whole line of experienced mentors who are willing to spend time with Berkeley students excited to do that.”
Read more about The House Fund at Upstart business journal.