20PRODUCT grabs $5M to put the best product experts in your cap table
Reading Time: < 1 minutes20VC founder Harry Stebbings unveiled his third, and final, offshoot fund called 20PRODUCT that kicks off with $5 million in capital commitments.
The fund will write checks of $100,000 and more for pre-seed, seed and Series A companies and won’t do follow-on investments.
These three special funds came about from Stebbings’ efforts to tap into experts from various companies to talk to his portfolio founders.
‘The way venture capitalists help founders is essentially broken, and the people best suited to help founders are operators,’ Stebbings said. ‘For me, it’s a case of how do I structure a mechanism and a product to allow founders to get the best service from their investors that they can.’
20PRODUCT includes a group of eight people who come from companies like Shopify, Nubank, Spotify, Snap, LinkedIn, Ramp, Match and Xiaomi.
The founding partners include Hugo Barra, Jack Brody, Geoff Charles, Glen Coates, Tomer Cohen, Jag Duggal, Gustav Söderström and Will Wu.
All will be staying at their current jobs and participating in the fund on a part-time basis. Stebbings is a limited partner and advisor to this fund as well.
Reference: https://techcrunch.com/2024/02/09/20product-5m-20vc-product-experts-venture-capital/
Ref: techcrunch
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