By Steve O’Hear
Just a few months after closing a new $185 million fund to continue backing early-stage European startups, Blossom Capital, the VC firm founded by Ophelia Brown, is announcing a new angel investment program seeking to back European unicorn alumnus.
Dubbed “Cultivate,” the new program looks to create a 30-strong angel network made up of founders or operators from European unicorns or those with a European HQ, who will be tasked with backing alumni starting up.
This idea is to act as a catalyst for a more robust angel ecosystem in Europe, and in turn trigger a virtuous cycle as employees inevitably leave successful companies to hopefully build the next generation of European unicorns, backed by experienced operators.
At launch, the Cultivate angel network includes Des Traynor, co-founder and Chief Strategy Officer at Intercom, Guillaume Pousaz, CEO and founder of Checkout.com, Nilan Peiris VP Growth at Transferwise, and Shakil Khan, an early investor in Spotify. Additional angels are expected to join in the coming months.
“In the first year of the program, we’ve just made it available to people spinning out of unicorns,” Ophelia Brown tells me. “And so if you know you’re the CEO of Intercom or the CEO of Checkout, you’re …read more
Source: Tech Crunch