Ex-Youtube and Twitter executives vow to bring back hands-on approach in startups with new venture capital firm
Hunter Walk and Satya Patel's new venture capital firm could be just one of the many investors can have a pick at, but the duo who create Homebrew vows to be different by returning to the very roots of venture capital. In an article published on Seattle Post Intelligencer,
Patel commented about the current approach of venture capital firms. Patel told SeattlePI, "We found that there are lots of sources of capital in the market, but fewer sources that are willing to roll up their sleeves and be accountable at the early stage," he said. "We try to operate in a way that makes us feel like part of the team, because that's how we think of ourselves."
Satel, a former vice president at Twitter, and Walk, a former Youtube product executive, formed Homebrew in July this year. The duo raised an impressive USD35 million fund to invest in early-stage companies or startups.
The name of the venture capital firm, said the report, was derived from Homebrew Computer Club in Menlo Park, California. The report said the hobbyist group was famous for planting the seeds of the industry of personal computer. Moreover, the name also emphasized the venture capital firm's motto, which was to produce or invest in companies with artisan care, the report added.
Also, Homebrew's focus is on startups that create technologies that could empower creators, entrepreneurs or small businesses to challenge big companies.
Walk said, "Technology is becoming more accessible, more flexible and easier to use. Teams that are 5, 50 or 500 people can get as much or more done, and compete effectively with teams that used to be 5,000, 50,000 or 500,000... Our true north is this idea of trying to create the type of fund that we would have wanted to take money from," Walk said.
Homebrew had revealed its investments in four companies, which are Shyp, theSkimm, Plaid.io and UpCounsel.