Announcing Campus Founders Fund
We’re pleased to announce the launch of Campus Founders Fund, a $500,000 venture fund to be managed by a team of 8–10 exceptional students with diverse disciplines, primarily from BYU and the University of Utah. The student Investment Team, with ongoing training by Utah’s most experienced seed investors, will identify and select the best entrepreneurs on Utah’s campuses and provide $10,000-$20,000 to help these Campus Founders test an idea and develop an initial product. The investments will be structured as founder-friendly convertible notes without caps or discounts. In addition to capital, Campus Founders will receive targeted mentoring by leading tech CEOs as they prepare to unleash the next wave of explosive startups in Utah’s booming ecosystem.
We know there are deep wells of talent across campuses in Utah and are searching for the most visionary, innovative and determined students wherever they are. Regardless of school affiliation, standout students from any campus in Utah are welcome to apply for funding or membership on the Investment Team.
Applications are currently being accepted for the Campus Founders Fund inaugural Investment Team and admission will be offered during the first term of the Fall 2014 semester. Information sessions and interviews will be conducted on campus during the first weeks of class.
Interested students can sign up to receive more information at www.campusfounders.com.
Here’s some answers to common questions but feel free to reach out with further questions!
Why is Kickstart doing this? What’s in it for us?
Since our inception in 2008 as the first and most active seed fund in Utah, we have always taken the long-view and bet big on Utah’s ecosystem. As products of Utah’s educational system, we have personally benefited from the institutions, networks and opportunities that allowed us to develop our passion and abilities for entrepreneurship, innovation and seed funding. We want young talent in Utah to have the resources and relationships to dream big and attack global opportunities, and believe Campus Founders Fund can be a vehicle that develops the next generation of game-changing entrepreneurs and smart venture capitalists.
Having said that, you should never trust a venture capitalist that insists it isn’t about the money. It’s not ALL about the money, but the money matters for it to be sustainable. In truth, we expect a few of the Campus Founders to go on to achieve unprecedented success in our ecosystem and generate jaw-dropping returns for their early investors. If we earn their trust now by supporting them through the riskiest stages, we have a better chance of being the investors they turn to when they’re ready for the next injection of rocket fuel. Also, we expect some of the enormously talented students on the Investment Team to go on to become our associates and partners in future funds or join high growth startups in our portfolio. Building trusted relationships with the smartest people in the ecosystem is critical to our future success.
Beyond providing the capital, how will Kickstart be involved in the fund?
We want to be clear that Campus Founders Fund is run by students and Kickstart will not be involved in the day-to-day operations or investment decisions of the fund. Our team will provide ongoing training and coaching to the Investment Team, but the goal is to help the students get comfortable sourcing deals, making their own decisions and trusting their analysis. Kickstart Partner Dalton Wright will oversee the initial launch, with Kickstart Associate Morgan Davis taking the ongoing active role as the Program Director and liaison with the Investment Team.
Has something like this ever been attempted before?
Yes, a handful of times by leading funds like First Round Capital (Dorm Room Fund), NEA (The Experiment Fund) and General Catalyst (Roughdraft.vc). These student funds focus on top schools in the Bay Area, Boston, New York and Philadelphia. As entrepreneurial investors, we will improve upon these prior models and optimize Campus Founders Fund for students in Utah with the help and leadership of the student Investment Team.
If the company fails, do Founders have to repay the money?
No. We fully understand the risk we are taking by investing in unproven ideas at the earliest stage. In the worst-case scenario, we hope Campus Founders push their limits, challenge conventional wisdom, test compelling ideas and then share their learning with others, knowing that success is one step closer than before.
What is expected of members of the Investment Team?
We’re looking for students who are a little obsessed with tech startups and venture capital and are hungry to get up the learning curve and identify the next big thing. A general expectation would be 10–15 hours per week of largely unstructured activity (networking, open office hours, sourcing, deal screening, due diligence, adding value to companies) with a weekly team meeting to hear new pitches and make investment recommendations. Once a month the Investment Team members from across campuses will get together to vote on new investments and receive training from successful founders and VCs in the ecosystem. We ask for a two-year minimum commitment, or until you graduate.
Contact:
For all press inquiries and interest from community partners, please reach out to info@campusfounders.com
