This investment fund is looking to back startups in DC - Technical.ly DC

Business

Sep. 12, 2017 12:58 pm

This investment fund is looking to back startups in DC

Team members from Betaspring's RevUp Fund will be in the District meeting with companies this week.

RevUp's logo will start appearing more around town.

(Courtesy photo)

Team members from a fund looking to back early-stage companies are in D.C. this week amid an expansion move into the area.

The team from Betaspring will be holding meetings as they seek new companies to back through the firm’s RevUp Fund.

The RevUp firm currently backs companies in New York, Pittsburgh and Boston. In both D.C. and Baltimore, Managing Director Melissa Withers said via email that the firm’s team believes it can “add value while finding great investments.”

“I’ve been really impressed at how much progress the D.C. startup community has made in the last few years,” she said.

Launched in 2014, the RevUp fund focuses on B2B and B2C companies that are generating revenue in the $300K-$1.5M range. It also focuses on team and market opportunity. The firm has an in-house growth team that works with companies to identify avenues toward more revenue, and its management team also provides support. The non-dilutive investments are typically about $100,000, according to info from the firm.

“Our┬ámodel is complementary to the other sources of capital that already are on the ground and there’s a great sense of momentum that growth companies will continue to be an important priority,” Withers said.

The team will be at Alley coworking space on Sept. 13 and 14. Info on requesting a screening meeting is on the firm’s website.

-30-
Stephen Babcock

Stephen Babcock is Market Editor for Technical.ly Baltimore and Technical.ly DC. A graduate of Northeastern University, he moved to Baltimore following stints in New Orleans and Rio Arriba County, New Mexico. His work has appeared in The New York Times, Baltimore Fishbowl, NOLA Defender, NOLA.com/The Times-Picayune and the Rio Grande Sun.

Advertisement

Sign-up for regular updates from Technical.ly

Do NOT follow this link or you will be banned from the site!