First Round Capital’s Dorm Room Fund expands to Boston, with initial investments this fall
Boston.com - 09/10/2013
For entrepreneurial students, there’s a new source of capital on campus this fall: theDorm Room Fund is coming to Boston. The fund, backed by Philadelphia-basedFirst Round Capital, will have $500,000 to invest in student startups over the next two years. And a student investment team will be giving deals the green light.
“Students will have a unique perspective on these ideas and markets, as well as the teams building the companies,” says Phin Barnes, the First Round partner who oversees the Dorm Room Fund. “We want to give them as much latitude as we can.” Supervising the operation of the Dorm Room Fund, which already operates in New York, Philadelphia, and Silicon Valley, is CeCe Cheng, right. Cheng says the core of the Boston investment panel members will come from Harvard and MIT, “but we will also have an open application for students at other schools who want to be on the team.” The panel meets weekly during the school year, and once a month over the summer. They are paid a two percent management fee to cover their operating costs, such as events and marketing.
Matt Bilotti, Northeastern
Matt Bilotti is a Junior at Northeastern University studying Entrepreneurship and Computer Science. After serving as President of the NU Entrepreneurs Club and Product Manager at influencers@, Matt is now a Product Management Intern at HubSpot. A lover of tech products, healthy foods, and his moped, Matt is incredibly eager to help the student entrepreneurship community in Boston reach new heights.
Casey Hogan, Northeastern
Casey Hogan is a Junior at Northeastern University studying Entrepreneurship and Computer Science. She most recently worked at the New England Venture Capital Association as their Marketing and Member Services Associate, and is now the President of the NU Entrepreneurs Club. She’s very excited to use her experiences working in startups and in the Boston startup community to help students find the resources they need to build and grow their ideas into successful ventures.