Los Angeles-based Collaborative Fund, the socially-minded seed stage fund, has been ramping up in New York for about a year. Skillshare’s Mike Karnjanaprakorn is an advisor, while analyst Sebastien Park is CEO Craig Shapiro’s right-hand man. Now the fund is announcing three new investors, including Meetup’s CEO Scott Heiferman and RecycleBank cofounder Ron Gonen in New York as well as OpenTable cofounder Chuck Templeton in San Francisco.
“Right now we have no institutional capital invested in the fund, only exceptional individuals,” Mr. Shapiro said in an email. “I believe this allows us to be more agile and aggressive in pursuing our mission.
“This fund is, in a sense, a lean startup; we’re entering into a new market and validating the idea with founders. I want to first prove that we have a brand and investment strategy that is correct and show that we can return significant capital before evaluating the idea of increasing the amount of capital we are investing.” Read More