New “Rolling” Investment Fund Led by Seattle Tech Veterans Targets Startups Capitalizing on 5G

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Jim Brisimitzis and Kevin Ober.

Seattle area technology veterans Jim Brisimitzis Other Kevin Ober are leading a new investment fund aimed at startups crossing the 5G Open Innovation Lab, a Bellevue-based launcher, Wash.

The 5G Open Innovation Lab rolling fund uses an investment model introduced of AngelList last year which allows fund managers to accept new capital from accredited investors in quarterly commitments.

The 5G Open Innovation Lab was launched last year and runs a 12-week program for startups building 5G-related technology. It is supported by T-Mobile, Microsoft, Intel and others.

Brisimitzis, a former Microsoft leader who helped launch Microsoft for Startups, is the lab’s founder and CEO.

Ober is well known in venture capital circles. He co-founded Seattle-based venture capital firm Divergent Ventures, and before that he spent seven years with Vulcan Ventures, the venture capital firm of late Microsoft co-founder Paul Allen.

The pair previously created Cloud City Venture Capital last year. The movable floor is an evolution of that idea.

The new fund will primarily support companies leaving the lab program. It will make 8 to 10 early-stage investments between $ 50,000 and $ 500,000 in companies based primarily in North America.

Investors in the rolling fund must subscribe for a minimum of four quarters, investing at least $ 12,500 each quarter. They can continue to subscribe for additional quarters afterwards.

The business partners of the laboratory are not involved in the revolving fund.

Ober said the lab provides a high quality business flow and this sparked the idea of ​​opening a rolling fund.

“We have a really powerful engine for making investments: great flow, excellent due diligence, and a better understanding than most people on this particular area of ​​technology,” noted Ober.

5G is the next generation of wireless services that should pave the way for smarter cities, faster downloads, self-driving cars, and countless other hard-to-predict software and hardware innovations, just as tech advocates like Uber and Snapchat might do. ‘don’t be anticipated until 4G and LTE make their business models possible.

The laboratory recently unveiled his fourth cohort. Since the lab’s first batch of startups in May 2020, 59 teams have participated in the program, raising over $ 500 million in pre-program funding.

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