FireStarter Fund

FireStarter Fund is an angel group operating like a traditional venture fund, with $5.7 million in committed capital from its 42 members. Each member committed either $100,000 or $200,000. Unlike a traditional venture fund, FireStarter Fund is a self-managed fund, so there are no carried interests or fees paid to anyone. The fund can invest in companies anywhere in the United States. Given that all of the fund's members are based in Chicago, it is likely that most of the investments the fund makes will be in the greater Chicago area, Illinois and the upper Midwest. The fund can make investments as small as $25,000 to as large as $500,000 in any one company. FireStarter expects its typical cumulative investment in a portfolio company to be between $150,000 and $350,000 over the life of the fund. In addition to the fund's investment, each member is free to invest individually in any portfolio company. FireStarter Fund will invest in digital media & marketing, software as a service, & e-commerce (with a focus on web social, mobile and big data). The fund is free to invest in any stage of development. When the fund makes its initial investment, FireStarter expects most portfolio companies to be at or near revenue generation, with the business strategy in place and technology very well along in its development. FireStarter Fund expects most of its investments to be in the series A and B rounds. FireStarter Fund was formed in January 2012 by Matt Moog with Brian Hand, Troy Henikoff, Sam Yagan and 40 other digital entrepreneurs. Since launch, FireStarter Fund has made nine investments including Retrofit, Give Forward, Kapow, Shiftgig, Cartavi, DIYSEO, Hireology, Tap.me and Pangea.