by Bill Flook | shared from Washington Business Journal |
The Crystal Tech Fund, which is tied to Disruption Corp., will put as much as $1 million in funding into revenue-generating startups “that have achieved a level of product-market fit.” A Securities and Exchange Commission filing suggests Singh and his team are seeking to raise $50 million for the Ashburn, Virginia-based fund.
“So while we’re probably not the best place to raise $50K for your latest idea or $5M for you to enter a new market, we are squarely aiming at the funding gap that exists for great companies and will begin making investments in the next 30 days,” Singh wrote in a blog post.
Singh told Tech Cocktail the Crystal Tech Fund was “the next logical step” in the funding market, seeking to fill the gap between seed and Series A rounds that so many startups encounter.
* * *
Bill Flook covers technology, biotech and venture capital for the Washington Business Journal.