500 Startups launches $10m marketing-focused fund aimed at easing Series A crunch

Apr13

by Sindy Cator on April 13, 2015 at 4:00 pm

Posted In: Around the Web, Insider, Product Launches

500 Startups, a global tech startup accelerator and investment program, has launched a new $10 million fund today. It’s aimed at businesses that need to ramp up their marketing activity after gaining early traction. Rather than costing startups a specific amount of equity, the funding will be provided in exchange for market convertible notes, depending on the company and size of the deal, Mat Johnson, ‘distribution hacker’ at 500 Startups told TNW. The DistroFund will initially invest somewhere between $100,000 and $250,000 in post-seed companies over the next 18 months. Half of the fund will be reserved for investments in companies…