Tim Draper’s Draper Startup House Ventures is launching a micro fund targeting early-stage startups globally, according to a statement.
Tim Draper, a US venture capitalist best known for his early bets in Baidu, Tesla, SpaceX, AngelList, Twitter, Coinbase and Robinhood, is the lead investor of the fund. The size of the vehicle was not disclosed.
Anchored in the US, the fund will have dual headquarters in San Mateo, California and Singapore. The firm said the Asia Pacific (APAC) region will have “predominance” in the fund as Draper Startup House International is headquartered in Singapore.
The fund has made its first investment in Ferne Health, a startup addressing sexual health. Vikram Bharati, founder of Draper Startup House International, and Giulianna Crivello, who previously served as Draper Startup House’s venture head, will oversee the new fund as general partners.
“Since inception in 2020, Draper Startup House Ventures has made 215 investor introductions to startups. With the launch of this fund, Draper Startup House itself expands beyond our 16 physical locations of entrepreneurial hospitality and tourism, to better connect, inspire, and empower a global community through direct venture capital backing,” said Bharati.
“Thanks to the internet and things like Bitcoin, entrepreneurs can build startups and create stored value from anywhere. Whether they are in Myanmar, Estonia, or Indonesia, Draper Startup House Ventures brings them the opportunity to get funding without having to find their way to Silicon Valley,” added Draper in the statement.
Draper Startup House was founded in Singapore in 2018 as Tribe Theory. Today, it is a global business ecosystem comprising over 1,000 members across 60 countries to tap into various resources in community, education, technology and investment.
Tim Draper has several eponymous funds globally, including Draper Fisher Jurvetson (DFJ), Draper University, and Draper Associates, in addition to Draper Startup House Ventures. Draper’s network companies currently manage over $2 billion across 24 global funds.