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Such a kind MeVC.com
from the it-might-be-interesting dept
Draper, Fisher and Jurvetson, has announced the creation of a $500million dollar close end mutal fund to allow individual investors to get a piece of the VC pie (MeVC.com). The one thing that I found, well to be quite honest strange was that this VC (Draper), was doing this to help the public (with no real financial incentive!). I don't know how much to believe but I think there's probably a little more at play than just kindness but maybe its enough of a reward just being first.
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Not an altruistic idea
Since I happen to know (and he has been known to read Techdirt as well) one of the first employees of MeVC.com, I can say with pretty clear certainty that it's not an altruistic venture. In some sense I think it's really just a gimmick. It's a way to get a lot more attention paid to a single firm (in this case DFJ) at a point when public relations has become a very important part of the VC world. I think for that purpose, it's a good idea. Where it runs into trouble is if the economy goes sour. There are reasons that most folks only accept funds from accredited investors.
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