Product Hunt founder Ryan Hoover has raised one other $10 million to put money into nascent upstarts through Weekend Fund. The information represents the agency’s second fundraise after a $three million debut angel fund that closed in 2017.
Hoover, an investor in Girlboss, audio social media platform TTYL and cellular utility efficiency software program firm Headspin, based Product Hunt in 2013 earlier than promoting the product discovery platform, the place he nonetheless serves as chief government officer, to AngelList for $20 million in 2016.
Limited companions in Hoover’s newest fund embody enterprise capitalists Marc Andreessen, Chris Dixon, Jana Messerschmidt, Ben Rubin, Chris and Crystal Sacca, Hunter Walk, Kevin Rose and Garry Tan, in addition to Q&A co-founder Suzy Ryoo, former Microsoft president Steven Sinofsky, &Then co-founder Corley Hughes, Adobe’s chief product officer Scott Belksy, Nurx CEO Varsha Rao, Long Term Stock Exchange CEO Eric Ries and Atom Factory CEO Troy Carter.
Weekend Fund, which additionally operates an experiment to encourage workers to construct aspect tasks into firms known as Weekend Build, invests throughout geographies and industries with a selected curiosity in audio and voice merchandise, instruments for distributed groups and distant staff, and low-code/no-code tasks.
Weekend Fund joins a protracted line-up of early-stage micro-funds (or nano-funds, if you happen to favor) setting apart capital to compete with the likes of GGV Capital, Sequoia Capital and different monster funds that deploy capital on the seed stage, too. Weekend Fund, for its half, doesn’t lead investments, quite, it writes small checks as a participant in early financings.
According to Crunchbase, U.S. traders raised extra sub-$100 million VC funds final yr (148 in whole)—greater than another yr in historical past.
