Flybridge Capital is at it again.
After a successful launch of its first graduate syndicate fund, Boston-based venture capital firm Flybridge Capital is now on repeat mode. The company told BostInno exclusively that it closed its second edition of the graduate syndicate fund worth $4 million, which invests solely in startups founded by Harvard University graduates.
Flybridge Capital general partner Jeff Bussgang, who is both an alumnus and a part-time lecturer at Harvard Business School, noted that the fund will invest in pre-seed and seed rounds in startups founded by Harvard graduates. Without revealing details, Bussgang said the fund has already made two investments.
"We will formally welcome the companies into the Flybridge family, list them as portfolio companies and they will have access to our community of advisors," Bussgang told BostInno.
Bussgang managed the first fund worth $2.5 million, which closed in October 2016 and went on to invest in 24 Harvard University spinoffs including Zoba Analytics, ClimaCell, AlphaVantage, Getaway and Lovepop Cards. The advisors of this fund include Harvard alumni and noted names in the startup world including Jenny Fleiss, co-founder of Rent the Runway, Pat Pettit and Rob Biederman, co-founders of Catalant, Scott Crouch, co-founder of Mark43 and Amy Jain and Daniella Yacobovsky, co-founders of BaubleBar.
How are companies in this cohort different?
"I’ve been impressed with the greater degree of technical content coming out of Harvard," Bussgang noted. "I’m seeing more real software companies and deep tech startups in the enterprise space."
In Crunchbase's 2017 report on top schools with well-funded startups, Harvard Business School holds the top spot among business schools with the most funded alum-backed startups. The school also ranked high in alum-founders who raise the most capital.
Other than funds like this one by Flybridge Capital, Harvard entrepreneurs also have access to other exclusive funds like Yard Ventures, which is part of the Alumni Ventures Group.
