Seed-stage investing is where it’s at these days. If you’re starting an Internet company with the slightest bit of potential, funders are probably already knocking on your door. Now comes word that three East Coast venture capitalists focused on the web are teaming up to form another early-stage fund.
Former Spark Capital senior associate Rob Go, former Point Judith Capital principal Lee Hower and Venrock VP David Beisel have started a new VC firm, according to Galen Moore at Mass High Tech Business News. Go and Hower both recently left their former jobs to work on projects they didn’t specify. As for track records, Hower has backed Swipely and Oneforty, Go is an investor in Shareaholic, and Beisel has invested in AppNexus and BlogHer.
Moore got ahold of an email from Hower describing the firm as a “seed stage investing initiative” that’s “in the very earliest phases of getting…off the ground.”
I’d be interested to know what effect the surplus of early-stage funders is having on traditional venture capital. If you have any thoughts on that, drop me a line.