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This is an educational program for the kids through the school. Lightspeed is definitely not struggling to fill out a $500k allocation... a general partner of t
by frisco 10y ago
This is an educational program for the kids through the school. Lightspeed is definitely not struggling to fill out a $500k allocation... a general partner of the fund just happened to be a school parent and got the school club into the deal. A very Silicon Valley and unusual thing for a school club for sure, but nothing sketchy at all.
- exclusiv 10y agoDefinitely not sketchy as you mentioned, but according to the article the parent is right about the allocation: > It turns out that Eggers actually persuaded his partners to cough up only $485,000 of the $500,000 investment. On his invitation, Natalie and Andrew’s school, St. Francis High School in Mountain View, Calif., chipped in the remaining $15,000. I read on another article that he's on the board of the school's investment fund which backs startups. So it's a strategic initiative and definitely not sketchy as it's a private school.
- frisco 10y ago> It turns out that Eggers actually persuaded his partners to cough up only $485,000 of the $500,000 investment. This almost certainly means convincing his partners to let someone else come in instead if LVP taking the whole $500k. Lightspeed has over $3B in assets under management and $500k is already at the low end of check sizes they'd generally write. On the other hand, squeezing a friend into an interesting deal is a big favor.
- exclusiv 10y agoOh yeah that's my mistake. That makes perfect sense now given your comment and re-reading that line.