Starting a company is hard work no matter who the founder is, but some factors make that work even harder. Like, being a student. That’s where these student-run venture firms looking to help out their fellow classmates step in.
Dorm Room Fund, powered by First Round, was built by students and backs startups where at least one member of the founding team is a student. The investment team has students on it, including mentors who’ve founded companies like Buzzfeed, Venmo, YouTube, and Quora. Dorm Room Fund invests $20,000 in selected startups through a SAFE (Simple Agreement for Future Equity) and has invested in 200 companies that are made up by 300 founders from 40 different universities.
Rough Draft Ventures has a funding roster of over 250 founders from over 20 different universities. Their team is separated by jurisdiction: they have the Boston Student Team, the NYC Student Team and a collective of alumni and mentors. RDV also runs a summer accelerator program every year for 12 weeks for student-founded startups, at the end founders are given a chance to pitch for $25k in backing from RDV and $25k in backing from HubSpot.