AngelList’s former head of marketing Niv Dror has launched his own $3 million venture capital fund called Shrug Capital, stylized as ¯_(ツ)_/¯ Capital.
The fund has received investment from influential Silicon Valley VCs like Founders Fund’s Cyan Banister and Andreessen-Horowitz partners Marc Andreessen and Chris Dixon.
Dror told Business Insider that the shrug emoticon, which he had tattooed on his left wrist two years ago, is among his favorite keyboard shortcut responses.
In October 2016, Niv Dror — then an editor for product editorial site Product Hunt — tattooed the shrug emoticon onto his left wrist. Less than two years later, Dror has left his position as head of marketing at AngelList to start his own venture capital fund. Like Dror’s tattoo, the fund’s name draws inspiration from the shrugging emoticon’s conjectural figure.
Dror’s $3 million fund, called Shrug Capital — also stylized as ¯_(ツ)_/¯ Capital — has attracted interest from several influential Silicon Valley VCs, including Cyan Banister of Founders Fund and Andreessen-Horowitz partners Marc Andreessen and Chris Dixon.
In an interview with Business Insider, Dror said that ¯_(ツ)_/¯ Capital all started from a tweet he posted last November. “If I ever raise a venture fund I’m calling it: ¯_(ツ)_/¯,” Dror wrote at the time.
If I ever raise a venture fund I’m calling it: ¯_(ツ)_/¯
— Niv Dror (@Nivo0o0) December 1, 2017
Managing director of Brainard Capital, Owen Brainard, tweeted back: “First step to raising a venture fund is saying ‘If I ever raise a venture fund…'”
First step to raising a venture fund is saying “if I ever raise a venture fund…” pic.twitter.com/t7h3oD3zFH
— Owen Brainard (@owenbrainard) December 1, 2017
Dror said that Brainard’s response planted the first inkling of possibility in his mind that he could raise his own fund. “I’ve always wanted to be a venture capitalist,” said Dror. “But I never considered that I could raise my own fund.”
Two months after first tweeting about the idea, Dror said he gave Brainard a call to ask if he’d like to invest in Shrug Capital. Brainard agreed, becoming the fund’s very first investor.
Dror said the plan is to create a portfolio of consumer-based companies that he’s excited to “talk about for more than an hour with a non-tech audience.” Dror said that his experience working with tech products at companies like Product Hunt and Meerkat provides him with insight into consumer-focused startups.
Dror’s …read more
Source:: Business Insider