FinTech news in hustle fund category

The firm uses its existing management fees to fund salaries and general fund operations, but then uses the supplemental revenue to scale. Hustle Fund, an early-stage-focused venture firm built by former 500 Startups partners Elizabeth Yin and Eric Bahn, is growing into its name. The fund is Hustle Fund biggest standalone investment vehicle to date, and propels the firm’s total AUM to more than $125 million. Not all of it has worked as hoped: Bahn admits that Hustle Fund used to run a revenue-based financing fund called Flywheel, but shut it down due to economics being too small.

Then we have GPs of global VC funds like Ribbit Capital’s Micky Malka, Hustle Fund’s Elizabeth Yin, Sebastes Capital’s Jason Fish, a16z’s David Haber, Y Combinator’s Michael Seibel, 776’s Alexis Ohanian, Bonow Ventures’ Tilo Bonow, Precursor Ventures’ Charles Hudson, Better Tomorrow Ventures’ Sheel Mohnot, Broadhaven Ventures’ Michael Sidgmore, etc.; Web 2.0 and web3 operators; local and international HNIs; sport and entertainment icons; and PAVE Investments (the anchor LP in Microtraction Fund I), which has committed $1.5 million into the community fund. Microtraction, an early-stage venture capital firm that invests in African startups at the pre-seed stage, is announcing that it has reached the first close of its second fund, Microtraction Community Limited. The LPs in this community fund include 30+ venture-backed founders of African companies like Helicarrier’s Ire Aderinokun, Paystack’s Shola Akinlade, Cowrywise’s Razaq Ahmed, 54gene’s Francis Osifo, Paga’s Jay Alabraba, Spleet’s Tola Adesanmi, Float’s Jesse Ghansah. Microtraction is also venturing into the web3 space by setting up a community vehicle (akin to a DAO) where social tokens will be used to incentivize and gamify the experience of members who provide value-add and support to the fund and founders.

Vinik’s experience in the hedge fund world has informed Equi’s data-driven approach to investment management and risk assessment; the portfolio team leverages Equi’s in-house technology to help them identify and structure deals with fund managers, Reiss said.