SAN FRANCISCO - January 22, 2020 - (Newswire.com)
In an effort to shake up Silicon Valley’s staid venture capital funding model, Sky 21 is announcing the launch of a first-of-its-kind idea stage fund with a startup studio model. The fund will be helmed by 32-year-old Rohan Mathur with $1 million in initial assets from U.S.-based investors.
While venture capital partners typically enter the picture at the seed money stage when a proven Minimum Viable Product (MVP) has been established by a full-time team, Sky 21 aims to establish the Proof of Concept (PoC) for startups, single entrepreneurs and even working professionals who wish to start up without quitting their existing jobs.
Idea stage concepts typically emerge prior to the establishment of business plans, three-year financial projections, dedicated teams and other demands that angel and venture capital funds typically have. Due to the gap, numerous ideas with significant market potential are abandoned even before building their MVPs. Sky 21 Venture Partners has the goal of addressing this gap and to take advantage of the significant opportunity in this stage.
Sky 21 aims to launch many ideas simultaneously and work quickly to vet out the most promising concepts through iterative adaptation. PoCs that establish decent traction will then be pitched to early-stage venture capital firms with a dedicated team of CxOs, business plan and a regular startup strategy.
“The world is changing quickly and so are the methods of doing business. With the rapid growth of technology and globalization, it has become extremely easy these days to get a product developed, marketed, tested and even discarded within a few weeks. The faster we try out new ideas, the sooner we are going to discover the unicorns. We believe that every business idea deserves to see the light of day, even if it is not yet backed by a sound team, financial projections and marketing strategy,” says Mathur, CEO, Sky 21 Venture Partners Inc.
Sky 21 is a micro venture capital firm with startup studio model that will take startups from idea stage to seed stage. It is headquartered in San Francisco, with chapters in Bengaluru, India; London; Tel Aviv, Israel; Stockholm; Helsinki; Berlin and Paris.
For more information, contact startup@sky21.xyz or visit www.sky21.xyz.
Press Release Service by Newswire.com
Original Source: Sky 21 Venture Partners Announces $1M Idea Stage Fund, Will Take Startups From Idea to Seed Stage
