Pioneering Firm Announces Launch with $1M Idea Stage Fund
San Francisco – In an effort to shake up Silicon Valley’s staid venture capital funding model, Sky 21 is announcing the launch of a first-of-its-kind idea stage fund. The studio will be helmed by 32 year-old Rohan Mathur with $1M in initial assets from US based investors.
While venture capital partners typically enter the picture at the seed money stage when a proven Minimum Viable Product (MVP) has been established, Sky 21 aims to Fund, Build and Launch the Proof of Concept (POC) for startups, single entrepreneurs and even working professionals who wish to startup without quitting their existing jobs.
Idea stage concepts typically emerge prior to the establishment of business plans, 3 year financial projections, defined product teams and other demands that venture capital funds typically require. Due to the gap, numerous ideas with significant market potential are abandoned due to necessary funding and strategic guidance. Sky 21 launched Startup Studio with the goal of addressing this gap and to take advantage of the significant opportunity in this stage.
The studio aims to launch many ideas simultaneously and work quickly to vet out the most promising concepts through iterative adaptation. POCs that establish traction will then be pitched to venture capital firms for seed funding.
“The world is changing quickly and so are the methods of doing business. With the rapid growth of technology and globalization, it has become extremely easy these days to get a product developed, marketed, tested and even discarded within a few weeks. The faster we try out new ideas, the sooner we are going to discover the unicorns. We believe that every business idea deserves to see the light of day, even if it is not yet backed by a sound team, financial projections & marketing strategy.” says Rohan Mathur (CEO - Sky 21 Venture Partners Inc.).
Sky 21 is a micro venture capital firm with startup studio model that invests in startups at idea stage. It is headquartered in San Francisco, with chapters in Bengaluru, London, Tel Aviv, Stockholm, Helsinki, Berlin and Paris.
For more information, please visit www.sky21.xyz
