We think of tens or hundreds of millions, even billions of dollars of venture capital, so it is refreshing to find an Evening Fund, a new $ 2 million micro fund at a small investment of between $ 50,000 and $ 100,000. Focuses because it wants to help young beginners. One may have to struggle to find wealth elsewhere.
The new fund was launched by Kat Orekova and Rafa Danilo. Orekova, who began her career as a math professor, is a former data scientist at Facebook, now investing and working with angel startups to invest in young startups. They call it Evening Fund because they work as founders by day and investors by night.
She says she wanted to formalize something more to help land early stage startups and is seeking help from limited partners, including Sarah Smith at Bain Capital, general partner at Quiet Capital and tech industry veterans Long list included.
Orekova says that he and his partners invest small sums in B2B SaaS companies, which are pre-seeded, seeded and sometimes round one. They will invest in the consumer here and there. She says that one of their key value propositions is that they can help more than just money. “One way in which I think I and Radha and I can really help our founders is that we offer very specific, practical advice, and not just a high level.”
This could be something like how to hire your first designer where the founder would not even know what a designer does. “You understand how I hire my first designer, and what the designer does because most founders have never hired a designer before. So we give them very practical hands-on stuff, like here What are the qualifications or what is the difference between a graphic designer, a visual designer, a UX designer and a researcher, “she said. They go so far as to give them a list of candidates to help them go.
She says she realized that when she was on Facebook that she eventually wanted to start a company, she volunteered her time to work with companies undergoing Y Combinator. “I think a lot of people don’t know where to start, but in my case I looked at the YC list, found a company that I thought I could be helpful. I cooled down and said ‘Hey, I Don’t want money. I don’t want equity. I just want to try to be helpful to you and see where it goes.
Leading some large venture capital firms to scouting for startups and eventually dabbling in financing some of these startups that he was helping. Today’s announcement marks the culmination of these years of work and the ground work she does to make herself familiar with how the startup ecosystem works.
The new firm already has its first investment under its belt, an AI-powered internal search tool to help connect users with workplace knowledge that is often locked into applications such as Google Suite, Slack and Notion.
Although Evening is not enough to keep him and Danilo busy, they are also working on a startup that he says is very related to the fund. But she was not ready to share much on that as yet the company remains in stealth.