Enter Details

Comment on stories, receive email newsletters & alerts.

This is your permanent identity for Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters


Email newsletters but will contain a brief summary of our top stories and news alerts.

Forgotten Password

Enter Details

Back to log in

Early Facebook Execs raise $65 million for Slow Ventures to invest in lots of startups

Sam LessinBusiness Insider

In 2011, Facebook’s first sales executive Kevin Colleran, co-creator of Facebook’s Platform Dave Morin, and Facebook’s former Director of Product Management Sam Lessin decided to start a seed investing fund, Slow Ventures.

Colleran likes to joke that Morin came up with the most anti-intuitive logo for it, a rocketship.

The three considered it an “investment club,” a fun hobby, but not full-time work. Still, they found success quickly as early stage investors, writing checks for 180 startups like Yik Yak, Meerkat, ClassPass, Hinge, Product Hunt and Slack.

Now they have raised a proper $US65 million early stage fund. Morin, who founded social networking application Path, will continue running his company and investing through Slow on the side. Colleran, who joined General Catalyst as a partner a few years ago, will now only invest through Slow. And while Lessin may launch a new startup (he formerly founded Facebook-acquired, he will focus on Slow’s investments in the meantime.

The trio isn’t interested in taking board seats or even leading early stage rounds. Instead it’s just looking to partner with other lead investors, lend advice to entrepreneurs, and get a little piece of the action.

“We champion the premise that truly great ideas require long-term thinking and time, despite the seeming evidence to the contrary all around us (thus the name of the firm),” the three wrote in a blog post Wednesday morning. Other early Facebookers and founders are invested in Slow’s new fund. “We believe that the future is very bright, and very different than the present.”

NOW WATCH: 5 hard-to-find iPhone tricks only power users know about

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at