Attention, UC Berkeley startups: Arrow Capital, a new venture capitalist firm, is looking to bolster Berkeley-based startups.
Funded by Bow Capital — the only venture capitalist firm funded by and partnered with the UC endowment — Arrow Capital aims to promote entrepreneurship and expand the number of startups that come out of UC Berkeley. According to Niles Chang, an investment partner at Arrow, the initiative makes investments ranging from $15,000 to $50,000 in Berkeley-affiliated startups.
“It’s kind of crazy that Stanford has five times fewer students than us, yet they produce more startups that go on to do some big things,” Chang said. “We want to provide capital to allow students to build out their ideas.”
Interested startups can submit an application on Arrow Capital’s website on a rolling basis. There are no specific requirements for applying — the only eligibility requirement is that the company is connected to a current Berkeley student or a Berkeley alumnus.
In addition to providing funding, Arrow Capital makes an effort to connect those startups to industry mentors and experts, working as a funnel to larger funding rounds with larger venture capital firms.
“The goal is to create a virtuous cycle where the endowment helps promote, support, and empower entrepreneurs across the UCs,” Chang said. “But as of now, we are building out the Berkeley branch, since Cal is so rich in the startup field.”
Also published on Medium.