{"id":43453,"date":"2023-10-20T15:28:41","date_gmt":"2023-10-20T15:28:41","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sydney-seed-fund-to-sink-up-to-100k-into-20-start-ups-startupsmart\/"},"modified":"2023-10-20T15:28:41","modified_gmt":"2023-10-20T15:28:41","slug":"sydney-seed-fund-to-sink-up-to-100k-into-20-start-ups-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sydney-seed-fund-to-sink-up-to-100k-into-20-start-ups-startupsmart\/","title":{"rendered":"Sydney Seed Fund to sink up to $100k into 20 start-ups – StartupSmart"},"content":{"rendered":"
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The co-director of the Founder Institute in Sydney<\/a> has partnered with two other serial entrepreneurs to launch the Sydney Seed Fund, offering tech start-ups up to $100,000 each.<\/p>\n

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Benjamin Chong, who heads up the Sydney branch of the Founder Institute, is also a partner at investment firm Right Click Capital and a director at global online travel agency Jetabroad.<\/p>\n

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He has partnered with Ari Klinger and Garry Visontay to launch the Sydney Seed Fund, an early stage investment fund aimed at \u201cSydney\u2019s most passionate tech founders\u201d.<\/p>\n

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The fund aims to invest between $50,000 and $100,000 in 20 start-ups. In addition to funding, start-ups will receive access to next-round funders in Australia and overseas.<\/p>\n

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They will also receive access to customers, service partners, strategic advisers and experienced mentors.<\/p>\n

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To be eligible, start-ups should be pre-revenue and no older than 18 months, be internet-based or internet-related, demonstrate the potential for global scalability and have a clear exit strategy.<\/p>\n

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\u201cThey don\u2019t need to have launched or tested the market but they do need to have some sort of prototype,\u201d Chong told StartupSmart<\/i>.<\/p>\n

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\u201cWhat we will be doing is subscribing for shares in the business \u2013 we\u2019ll be an investor and equity holder in the business.<\/p>\n

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\u201cWe want to link the founder with our partners, our advisors, our investors, etc, and also link them with other sources of investment \u2013 the angels, angel groups, [etc].\u201d<\/p>\n

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Chong says the Sydney Seed Fund will only make early stage investments.<\/p>\n

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\u201cReally how this came about is in my day job I\u2019m a partner at Right Click Capital, and Right Click Capital tends to do later stage investments \u2013 Series A-type stuff,\u201d he says.<\/p>\n

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\u201cAs someone who is really passionate about the whole start-up scene, having been involved in the Founder Institute, [I saw an opportunity].<\/p>\n

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\u201cI got to know Gary through Sydney Angels. What we\u2019ve seen is an opportunity to provide start-up [funding] or seed capital, if you like, to early stage businesses.<\/p>\n

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\u201cWe make decisions in weeks, not months, so we can really help supercharge the progress, if you like, of these start-ups.\u201d<\/p>\n

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According to Chong, the fund will aim to form close relationships with its portfolio companies.<\/p>\n

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\u201cCompanies we invest in will become part of our ecosystem and we want to leverage the relationships that the partners have,\u201d he says.<\/p>\n

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\u201cWe\u2019re trying to encourage and promote this sharing of [ideas].<\/p>\n

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\u201cAs part of that, we will be holding, for instance, a monthly dinner where we get founders together\u2026 so we break bread, share stories but so we can also encourage each other to make things happen to get to the next stage.<\/p>\n

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\u201cAs part of these dinners \u2013 not every dinner \u2013 we will be inviting some of our investors or advisors we have, or prominent people from overseas.\u201d<\/p>\n

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Chong says the fund will focus on start-ups located on the eastern seaboard.<\/p>\n

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\u201cThe reason is if we want to have dinners and times where we gather people together, if you\u2019re from Perth it\u2019s going to be much harder,\u201d he says.<\/p>\n","protected":false},"excerpt":{"rendered":"

The co-director of the Founder Institute in Sydney has partnered with two other serial entrepreneurs to launch the Sydney Seed<\/p>\n","protected":false},"author":1,"featured_media":59791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43453"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=43453"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59791"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=43453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=43453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=43453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}