One year into First Round's Dorm Room Fund: 8 schools, 24 investors, 24 deals
First Round Capital began offering capital to teams of college students around the country through its Dorm Room Fund one year ago. Since then, it's accumulated 24 student investors who have done 24 deals across eight universities. Now active in Philadelphia, New York and San Francisco, the firm plans to launch its next program in Boston and has already begun gathering applications.
Perhaps more notable than First Round Capital's dive into university-level investing (and its "stay in school" message that runs counter to conventional Valley wisdom) is the number of similar programs that other venture firms have built similar programs. In Boston, General Catalyst runs Rough Draft Ventures. And The Experiment Fund, backed by Accel Partners, NEA and Polaris Venture Partners, focuses on the projects of college students.
First Round today released an infographic explaining its progress in the first year. Check it out: