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22 September 2017

Contrary Capital boots up fund

The fund, which has already made its first investments, will offer between $50,000 and $200,000 to both spinouts and student startups.

Author: Callum Cyrus, reporter

US-based investment fund Contrary Capital launched earlier this week with networks in 55 US faculties in a bid to back spinouts and startups launched by students and alumni.

Contrary will provide $50,000 to $200,000 in capital to portfolio companies.

The fund has already invested in Additive Rocket Corporation, which is researching novel approaches to propulsion technology for space exploration and Cortex Healthcare, a medical follow-up management platform.

Contrary’s investment strategy uses entrepreneurial students within each targeted faculty to connect the most talented researchers and ideas with the fund.

It started fundraising in 2016, enticing limited partners such as electric vehicle manufacturer Tesla co-founder Martin Eberhard and games streaming platform Twitch co-founder Emmett Shear.

Eric Tarczynski, founder of Contrary Capital, said: “This decentralised model is a student-driven model. We have brought on hundreds of students that we think are the most connected and driven in each of these school’s entrepreneurial ecosystems.

“Their role as investors is to basically be a boots-on-the-ground VC: going around and grabbing coffee with entrepreneurial peers or professors; attending or hosting events; going to hackathons; speaking at clubs or on panels.”

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