US-based Hustle Fund has closed its first fund of $11.5 million, anchored by China’s online gaming giant Shanda, Japan’s Line and Naver, South Korea’s largest search engine. Other investors include tech operators, founders and executives of Zappos, Optimizely and NerdWallet.
I met Shiyan Koh at the Women in Tech Singapore 2018. Koh was the VP of business operations and corporate development at personal finance company NerdWallet. She formerly worked as an investment professional at Bridgewater Associates and Institutional Venture Partners. She is now at Hustle Fund; a pre-seed firm founded by former 500 Startups partners Elizabeth Yin and Eric Bahn. It has closed their first fund, coming in at the tune of $11.5 million.
Koh Shiyan has become the managing partner of “pre-seed” investment firm Hustle Fund, which has closed its first fund of US$11.5 million from the likes of Chinese gaming pioneer Shanda, Japan’s Line, and Naver, South Korea’s largest search engine.
Like everything else, investing takes practice — lots of it. But, you don’t need as much money as you might think. If you’re going to start angel investing, here are some quick tips.
Elizabeth Yin, general partner and co-founder of Hustle Fund, took to the stage at Startupfest on Wednesday to explain how accelerators can differentiate themselves by specializing in a specific sector and stage, and marketing themselves online and through partnerships with coworking spaces.
Elizabeth set out to solve was on this idea of meritocracy and funding the best entrepreneurs no matter their background or pedigree. She shared, “There are a lot of VCs that would invest in pedigree to de-risk but that doesn’t always lower the risk. I think the best quality of a lot of entrepreneurs is speed of execution. I’ve seen so many pedigree teams that can’t execute quickly for a variety of reasons and on the flipside, there are teams with no pedigrees who can.”
WHY VCS FUNDAMENTALLY ASSESS FOUNDERS THE WRONG WAY, WHY VC NEEDS TO INNOVATE ON THE SCOUTING MODEL & WHY SAFE’S AND CONVERTIBLE NOTES ARE THE FUTURE OF INVESTING WITH ELIZABETH YIN, FOUNDER & GENERAL PARTNER @ HUSTLE FUND
Ex-500 Startups partners Elizabeth Yin and Eric Bahn want to focus on potential impact, not on whether or not founders have a degree from Stanford or some Ivy League school. Their goal with Hustle Fund, according to sources, is to level the playing the field for entrepreneurs in an industry where pedigree is not a good proxy for success. Hustle Fund ultimately wants to create a true meritocracy in the venture capital world.