As large VC firms cut back, a hungry bunch of seed-stage investors are helping entrepreneurs get their ideas off the ground. Earlier this year, as the stock market plunged, most bankers and other financiers hoarded capital and throttled back on new deals. But not Josh Kopelman. Even in the bleakest months, the co-founder of the venture capital firm First Round Capital hustled after startups to write them checks.
Besides First Round, these ‘super angels,’ as they’re called in the industry, include Baseline Ventures, Maples Investments, and Felicis Ventures. They’re pushing ahead and financing startups even as big-name venture firms cut back and conserve capital until the economy improves.