$100MM Seed Fund For Chicago


This post is by Jeff Carter from Points and Figures


Last night I dropped into a Clubhouse discussion about Chicago tech.  It was led by Jackson Jhin from Cameo.  Ezra Galston threw out the idea of having a $100MM seed fund that would write checks to people under 30 with ideas to seed the Chicago ecosystem.   The big idea being some of those crazy ideas would grow up to be platform companies.  I have never met Jackson and I am acquainted with Ezra.  There were quite a few people in the room listening, which is a good thing.

I have blogged about all these things from time to time here in the past and it was interesting to hear this group of people bat around various ideas.

It’s not as if this idea hasn’t been tried in a few permutations in the past.  I didn’t participate in the conversation and listened.  I wasn’t there for the beginning and had to hop off before it ended because I had some important business in Minnesota to take care of today that I will blog about soon.  I agreed with some things and disagreed with others.  That’s not important.  I appreciate the groups enthusiasm and hope they can make things happen. But they should know some history so they don’t repeat mistakes and understand what they are up against.

I have heard echoes of similar sentiments from people that were not in the conversation last night.  So, it’s not a minority.

I do think the group doesn’t fully appreciate or understand the (Read more...)