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Dave McClure, whose hyperactive superangel fund 500 Startups is certainly living up to its name, is planning a new fund called The Designer Fund, VentureBeat reports.McClure noted that plenty of great startups from Flickr to YouTube were started by designers and that design is crucial to a consumer startup’s success, but that designers also face specific challenges to getting started.
The interesting thing about the fund, which will be led by 500 Startups designer Enrique Allen, is that it won’t just invest in designers, but be funded by designers. The fund is looking for designers, presumably with startup success under their belt, to put in at least $50,000 each into the fund. Allen wants to recruit 50 investors into the fund, which will then invest in 50 startups.
On top of his main 500 Startups fund which invests at a frantic pace McClure already oversees a few other microfunds, like 500 Startups’ Y Combinator-like accelerator program and funds dedicated to platforms like Twilio and CrowdFlower.