Posts from crowdfunding

Funding Friday: Kickstarter Gold

Our portfolio company Kickstarter launched something cool a couple weeks ago. It is called Kickstarter Gold:

From June 20 through July 31, we’re spotlighting new projects by exciting artists and makers who use Kickstarter to sustain their creative independence.

Why? Because repeat creators are an integral part of the Kickstarter ecosystem. In fact, a third of all pledges to successful projects —over $1 billion since 2009 — go toward projects by creators who have run two, three, four, or even 100+ projects.

We selected Kickstarter Gold creators for their creativity, ingenuity, and success using the platform. They’ll be making new works inspired by their past projects, so backers can discover extra-amazing ideas, plus special rewards that aren’t available anywhere else.

Here are the projects. I just backed a bunch of them. It’s Funding Friday so maybe you might want to do the same.

Monthly Match Wrap-Up

I woke up Sunday morning in Europe to the news that our monthly match campaign for The Human Utility had crossed the $20k mark and thus our $20k match was fully funded. That was great news but then I saw this tweet from Tiffani, the founder of The Human Utility:

So that means that Jessica Livingston matched our campaign again. Which is incredibly generous but not the least bit surprising if you know Jessica.

So we raised over $60k from 171 different people to help people get the water turned back on in their homes this weekend. It feels great. I appreciate all of the donations from the AVC community that helped us make this happen.

Funding Friday: The Human Utility Monthly Match

And we are back with this month’s matching campaign to support a good cause.

We are moving away from the big well known causes to some lesser known but important efforts to help people who need our help.

We are going to start with helping people in need pay their water bills and keep clean water flowing to their homes.

The Human Utility helps almost 1000 families in Detroit and Baltimore pay their water bills and avoid a water shutoff.

We are going to match the first $20k of donations that anyone makes to The Human Utility between now and Sunday night (midnight PST). If we fully utilize this match, we will raise $40k which might get another 100 families their water back. That would be awesome.

To donate and have your contribution matched, go here and hit the big blue Donate button and make sure to tweet out your donation so we can match it.

Let’s get some water flowing again.

Funding Friday: Coinlist

Some interesting developments that we have been working on came public yesterday.

  1. Protocol Labs, a company that builds blockchain-based protocols laid out its ambitious roadmap and finally got around to announcing the seed investment USV and others made in it last year. My partner Brad Burnham wrote a blog post on USV.com explaining why we are so excited about Protocol Labs.
  2. Protocol Labs will be launching a token offering soon for Filecoin which powers a blockchain based storage network on top of its IPFS protocol.
  3. The Filecoin offering will be managed on a new platform called Coinlist which was built by Protocol Labs and AngelList.
  4. Coinlist will utilize a new kind of security called a SAFT (Simple Agreement for Future Tokens) that has been constructed to comply with existing securities regulations.

While all of these are interesting developments, particularly the architecture and roadmap that Protocol Labs laid out, I thought I would talk a bit about Coinlist given that it is “Funding Friday.”

Token Offerings have been going on for quite a while now. There are over 800 tokens listed on Coin Market Cap.

But US domiciled companies have not had a good way to raise money in token pre-sales and comply with existing securities laws. This forced a number of promising blockchain projects to domicile outside of the US, often in Switzerland, and organize as Foundations for tax reasons. A US domiciled company can wait until the token is live and functioning and sell it then, because at that point it is not a security, it is a token. But if you want to raise funds in a pre-sale for a US domiciled company, there has not been a good way to do that.

Enter Juan Benet, founder of Protocol Labs, and Naval Ravikant, founder of AngelList. They collaborated on CoinList and, with the help of a number of venture law firms and their investors, including USV, came up with the SAFT structure.

Naval put it like this in a Forbes piece yesterday on all of this:

ICOs are obviously a new and interesting form of funding for blockchain-based protocols. But it’s not clear that all of them comply with U.S. securities laws or that all of them are companies that have good native use cases for new coins. So, we wanted to use a high-quality coin and team to trailblaze a legal and compliant ICO.

If you are an accredited investor and want to participate in token pre-sales, check out Coinlist.

Big Bad Wolves

Some good friends of ours are making a film called Big Bad Wolves.

It is about a group of girls who turn into a vigilante gang because of a sexual assault on one of them.

So it is a serious topic, but it also a fun film about young people growing up in NYC.

The team is starting with a short film that kicks off the story and will use that short film to introduce the four young women who are at the heart of this story and to build support and audience for the larger feature they plan to make over the next year or two.

When our friends approached us about helping them make this short film, we both said “Do A Kickstarter!” and so that is what they did.

Here’s the Kickstarter “trailer” for it:

If you would like to join us in supporting this film, you can back it on Kickstarter.

Kickstarter’s Request For Projects

Our portfolio company Kickstarter published a blog post yesterday requesting certain kinds of projects in the Design and Technology category:

as part of our endless quest for projects, we’ve decided to try something new. Inspired in part by Y Combinator’s requests for startups, we’re going public with a list of the things we’d love to see more of on Kickstarter. We hope this inspires creators who are working in these areas to get in touch. If your project fits the bill, we can help make it shine and spotlight it for our community of 13 million backers.

The three areas they are most interested in are:

  1. Tools For Creating Things
  2. Boundary Pushers
  3. Delightful Design

If you are a creator who works in the Design and Technology category, please read this post and if you have a project in these areas, please consider doing a Kickstarter for it.