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14: First checks for dropouts, students, and deep tech sci-fi founders - Danielle Strachman, 1517 Fund
One day soon when you see a robot squirrel on a 10-foot unicycle, think of Danielle Strachman. These are the types of ideas Danielle Strachman sees and backs on a regular basis at her VC fund, 1517.
The fund, which proudly backs “dropouts, students, and sci-fi,” has had several fund multipliers in their portfolio, including Loom (Acquired by Atlassian) and Luminar Technologies (IPO 2020). Plus, her star-studded community includes Vitalik Buterin of Ethereum, Laura Deming of The Longevity Fund, and Dylan Field of Figma – all of whom she first met when they were teenagers.
Danielle’s commitment to bringing freedom and autonomy to young people is much of the reason behind 1517’s work with upcoming founders — which includes children as young as 10 years old!
We talk to Danielle about why her firm hands out cash grants to kids, where she sees the future of deep tech headed and how she’s helping it get there, the right characteristics (and anti-characteristics) to look for in founders.
Danielle invests $100k angel checks and $500k pre-seed checks out 1517 Fund focusing on dropouts and sci-fi / deep tech founders.
Highlights:
- 1517 exists to address the lack of capital for young people and for the deep-tech sci-fi space. Danielle is particularly drawn to “dropouts” who skipped the higher education path to focus on their work and start their companies.
- Danielle likes to think of her fund as Grand Central Station, a place that helps people get to where they want to go next. She uses her relationship building skills to stay in touch with founders and connect them with new opportunities.
- Danielle loves meeting “crazy scientists” and people who are working on solving the future’s problems. 1517 is unique because it makes two investments in these types of companies: a $100k angel check for R&D and a $500k pre-seed follow-on check.
- Danielle understands the power or relationships and mentorship in a space that can often feel impersonal and transactional. She’s kept in touch with many founders over the years, including the founders of Loom and Luminar Technologies – whom she met back when they were teenagers!
- (00:00) - FIFU 15 - Danielle Strachman
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By Shaherose Charania and Aamir Virani
5
1212 ratings
One day soon when you see a robot squirrel on a 10-foot unicycle, think of Danielle Strachman. These are the types of ideas Danielle Strachman sees and backs on a regular basis at her VC fund, 1517.
The fund, which proudly backs “dropouts, students, and sci-fi,” has had several fund multipliers in their portfolio, including Loom (Acquired by Atlassian) and Luminar Technologies (IPO 2020). Plus, her star-studded community includes Vitalik Buterin of Ethereum, Laura Deming of The Longevity Fund, and Dylan Field of Figma – all of whom she first met when they were teenagers.
Danielle’s commitment to bringing freedom and autonomy to young people is much of the reason behind 1517’s work with upcoming founders — which includes children as young as 10 years old!
We talk to Danielle about why her firm hands out cash grants to kids, where she sees the future of deep tech headed and how she’s helping it get there, the right characteristics (and anti-characteristics) to look for in founders.
Danielle invests $100k angel checks and $500k pre-seed checks out 1517 Fund focusing on dropouts and sci-fi / deep tech founders.
Highlights:
- 1517 exists to address the lack of capital for young people and for the deep-tech sci-fi space. Danielle is particularly drawn to “dropouts” who skipped the higher education path to focus on their work and start their companies.
- Danielle likes to think of her fund as Grand Central Station, a place that helps people get to where they want to go next. She uses her relationship building skills to stay in touch with founders and connect them with new opportunities.
- Danielle loves meeting “crazy scientists” and people who are working on solving the future’s problems. 1517 is unique because it makes two investments in these types of companies: a $100k angel check for R&D and a $500k pre-seed follow-on check.
- Danielle understands the power or relationships and mentorship in a space that can often feel impersonal and transactional. She’s kept in touch with many founders over the years, including the founders of Loom and Luminar Technologies – whom she met back when they were teenagers!
- (00:00) - FIFU 15 - Danielle Strachman