More funding for Philly college startups: Meet Contrary Capital - Technical.ly Philly

Growth

Sep. 19, 2017 9:34 am

More funding for Philly college startups: Meet Contrary Capital

The firm, launched by Princeton-based Eric Tarczinsky, is looking to drop investments in the $50,000 to $200,000 range.
The young fund has boots on the ground in 55 institutions across the country.

The young fund has boots on the ground in 55 institutions across the country.

(Courtesy image)

Though startups from the Penn ecosystem already have a healthy supply of capital to go around, here’s a new national fund that looks to fund startups out of the Ivy League institution: newly-launched Contrary Capital.

The fund has student investors perched at 55 colleges across the country. In Philly, it’s starting out with two investors at Penn: Julia Taitz and Sanjula Weerawardhena. They’ll be responsible for the Philly area, which means they’ll also be on the lookout for startups from TempleDrexel and beyond.

Princeton, N.J.-based founder Eric Tarczinsky told Technical.ly that while the fund is still being locked down, Contrary Capital is expected to deploy 30 to 35 investments in the $50,000 to $200,000 range over the next two years.

Tarczinsky, who prides himself on being frugal, told Forbes the fund came together after a country-wide road trip that took him to dozens of college campuses.

“We’re investing in deals that your typical venture fund isn’t doing,” Tarczinsky, 25, claims. “They’re almost viewed as a seed investment.”

Contrary Capital, the founder says, is aiming for a gap left behind by other venture firms in the academic space, and hopes to give not just students, but faculty and recent grads, a shot at the funding through its decentralized model.

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