"That's what I can do with founders, coach them. She never rode professionally herself, but she coaches some of the best in the world," Boyce says. "My mom is a horseback riding instructor. "This is what I was put here to do, meeting smart people and finding ways to help them," he tells us. And Grove, hardware for growing veggies in your home designed by MIT students that raised over $300,000 on Kickstarter in a couple of days.īoyce says he can't think of a more rewarding career than helping young entrepreneurs with their dreams. Then there's WorkFlow, the super popular iOS app. Some of the most successful ones include Beepi, an online marketplace for used cars. The firm operates as an investment arm of General. So far, Rough Draft has "backed over 50 teams, who have gone on to over $130 million of follow-on capital," Boyce says. Rough Draft Ventures Rough Draft Ventures is a venture capital firm based in Cambridge, Massachusetts. Rough Draft originally focused just on colleges in Boston, but Boyce has recently expanded to New York and now spends his time flying between the two cities, hearing pitches. Often students use it to help them get their idea far enough along to get into an accelerator like Y Combinator, Boyce says.
Rough draft ventures full#
"It's not a crazy priced round and it's not a commitment to drop out of school," he says, referring to the pressure student founders often feel to work full time on the company once a VC funds them. Powered by General Catalyst, Rough Draft Ventures supports student-led teams with up to 150K in funding, and provides access to a community of peers. What it isn't? A financing round that will get a young founder all stressed out. Those terms get worked out at a later round of funding. One of Boston's two student-run seed investing collectives, Rough Draft Ventures, is announcing the group of students who will make investment decisions this year. This is most lightweight way to do it," Boyce says, referring to a type of investment that doesn't stipulate ownership of a percentage of the company at a particular valuation.
"We do uncapped convertible notes, up to $25,000. Rough Draft Ventures is a student team investing in university entrepreneurs at the earliest stage.RDV provides investments up to 25K for student teams to. The idea is to help college kids "go from idea to products to seed and series A that are real ventures." "Not everyone has a rich uncle," Boyce jokes.įor instance, students might use it to buy a new computer, to hire a contract designer, to cover business travel expenses.
They dish out small sums, up to $25,000, to help cover costs a poor student or their families can't.
Rough draft ventures software#
A meeting of the original Rough Draft Ventures crew. Currently Software Engineer Drift and Partnerships TechTogether.
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