Seedfunders Opportunity Fund

Black Entrepreneurs Matter

Mission

The Seedfunders Opportunity Fund seeks to help empower the African-American community in Florida by investing in and supporting early-stage technology businesses founded by African American entrepreneurs across the state.

Research shows that entrepreneurs of color often have uniquely positioned ideas for technology-driven businesses but cannot raise the capital to get started in what is typically referred to as the “Friends and Family” round. The mission of the Fund is to supply that capital.

Business Eligibility Criteria

African-American majority owned

Headquartered in the State of Florida

Product or service based on scalable technology concept

Investment Evaluation Criteria:

Solid founding team

Lean startup approach to developing MVP

Focus on pre-launch, pre-revenue business incubation

Tech solution for a problem with a minimum $100MM addressable market

Clear path to $1MM in annual repeatable revenue (ARR) over 3-5 years

Target Investment

Target Investment Terms

Convertible note with 8% annual interest, capitalized on conversion; converts to equity upon first eligible priced equity fundraising round at a 20% discount with a $1MM valuation cap

Fund Management Structure

Capital committed to Fund Special Purpose Vehicle will be allocated to multiple investments according to evaluation criteria and at the sole discretion of the investment managers. Portfolio size will depend on total capital available to the Fund, consistent with target investment size. Board of five investment managers will source deals, make investment decisions and provide mentoring and advice to portfolio companies.

Irv Cohen

Bridgette Heller

Geoff Keith

George Lange

Ruth Ross

Dr. Tonjua Williams

Minimum Fund Investment

 $5,000, accredited investors only. Fund will accept commitments of capital until announced cutoff date, roughly in line with initial company investment out of the Fund

Fund Management Fee

None

Fund Carried Interest

20%, though the Fund intends to donate any realized carried interest payments to charity.