by Bill Flook | shared from Washington Business Journal |
Paul Singh, the former 500 Startups partner who last year founded analytics startup Disruption Corp. (maker of Dashboard.io), announced plans on Thursday to return to the role of funder.
The Crystal Tech Fund, which is tied to Disruption Corp., will put as much as $1 million in funding into revenue-generating startups “that have achieved a level of product-market fit.” A Securities and Exchange Commission filing suggests Singh and his team are seeking to raise $50 million for the Ashburn, Virginia-based fund.
“So while we’re probably not the best place to raise $50K for your latest idea or $5M for you to enter a new market, we are squarely aiming at the funding gap that exists for great companies and will begin making investments in the next 30 days,” Singh wrote in a blog post.
Singh told Tech Cocktail the Crystal Tech Fund was “the next logical step” in the funding market, seeking to fill the gap between seed and Series A rounds that so many startups encounter.
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Bill Flook covers technology, biotech and venture capital for the Washington Business Journal.
