Called Humbition, the new fund – which is also the brainchild of Zocdoc founder Cyrus Massoumi – is aimed at early stage, founder-led companies in New York. Crowdfunding platform Indiegogo Founder’s Slava Rubin told Techcrunch:
The fund is also seeking out mission-driven businesses because the companies that are socially responsible will be the most successful in the coming decades.
With regard to New York he added:
New York City is home to a tremendous number of mission-driven startups that are simply not receiving the same level of support as their peers in the Bay Area. This void presents a unique opportunity for Humbition to reach the incredible local talent who need the funding and guidance to build and grow their businesses in New York City.
Find out more here.