Today we announced that Entrepreneur First has raised a $12m funding round. We are lucky to welcome some of the world’s best investors — Greylock Partners, Mosaic Ventures, Founders Fund, Lakestar — and entrepreneurs — Reid Hoffman (LinkedIn), Demis Hassabis and Mustafa Suleyman (DeepMind) to the EF family. I’m also particularly excited to have EF alumni Rob Bishop & Zehan Wang (Magic Pony Techonlogy) and Bryan Baum (Represent) taking part in the round.
My co-founder Matt and I felt this was a good opportunity to reflect on the company we are building and what we have learnt developing a new model for startup creation.
Unlike any other investor, we invest in individuals before they have a team, or an idea. EF shifts your odds of building a globally important company, by helping you find an exceptional cofounder, develop a high value, high growth idea and access some of the world’s best investors.
When we started in 2011, our model had never been seen before. There was a lot of scepticism about whether it could work. We knew there should be an alternative path to help the world’s most ambitious individuals become entrepreneurs.
Six years later, we’ve built 100+ startups, had two >$100m exits and have seen 60% of our seed funded companies reach Series A. It works. And this is what we have learnt.