Company builder Entrepreneur First raises $12.4M led by Greylock, Reid Hoffman joins board

Sep 12, 2017 · techcrunch.com

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Well, this is quite a coup. Entrepreneur First (EF), the London-headquartered company builder that invests in individuals "pre-team, pre-idea" to help create new technology startups, has raised $12.4 million in new funding led by Silicon Valley’s Greylock Partners.

The investment also sees Greylock partner and co-founder of LinkedIn Reid Hoffman join the board. In a call, Hoffman described EF as an incubation model that "contradicts common wisdom," and exactly the sort of idea he seeks to back.

Other investors joining the round include Mosaic Ventures (I understand Mosaic’s Toby Coppel first introduced Hoffman to EF), Founders Fund, Lakestar Capital and Deep Mind founders Demis Hassabis and Mustafa Suleyman.

Notable is that a number of EF alumni are also investing. They are Rob Bishop and Zehan Wang of Magic Pony Technology — the AI startup sold to Twitter for a reported $150 million and the company builder’s only financially significant exit to date — and Bryan Baum, who co-founded Represent, which was sold for a reported $100 million but went through the program before EF insisted on taking a stake in the companies it helps create.

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