Capital Factory, Silverton Partners and Floodgate announced Monday morning they are teaming up to provide matching investments for all Capital Factory incubator companies.
Josh Baer, co-founder of Capital Factory, made the announcement via a blog post and on Twitter. TechCrunch also posted this story on it.
In total, each startup will get up to $150,000 in venture financing through the program.
Here’s how it works: “a startup founder who can find two Capital Factory mentors that invest $25,000 each into the company automatically triggers a matching venture capital investment of $50,000 from Capital Factory’s in-house fund and $25,000 each from Silverton and Floodgate,” according to a news release.
Reaction from Twitter:
Announcing @silvertonvc & FLOODGATE will match investments made by CF Partners in our Incubator startups. @kipmcc @m2jr @mflager @JoshuaBaer
— Capital Factory (@CapitalFactory) February 3, 2014
been a mentor at @CapitalFactory since Day 1 & have since funded @Sparefoot @Famigo @RecycleMatch @NuveTeam from @SilvertonVP. Who's next?!
— Kip McClanahan (@kipmcc) February 3, 2014
A Thunderlizard comes out of Austin every year. I want to find it, fund it and encourage more! via @CapitalFactory http://t.co/9y07GtKUKP
— Mike Maples (@m2jr) February 3, 2014
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