Kima Ventures, the seed-stage investment firm founded by Jeremie Berrebi and Xavier Niel in 2010, has just launched a new early stage vc fund which follows a “$150k in 15 days” approach.
Kima15 will invest US$150k in startup worldwide (in the internet industry at large, mobile, video games, software and telecom applications) to help them launch the first version of their product and to test initial hypothesis about the market before (potentially) raising more funding to grow the business.
Kima intends to make the effort to provide the funds within 15 days of startups (already incorporated with a standard structure) contacting them. It will invest in preferred shares of a company at a post-money valuation of US$1m, using a term sheet based on the standard Seedsummit documents, and will own 15% of the shares after the investment is completed.
They plans to make at least 50 new investments in the next 12 months.
Interested startups can apply via AngelList at https://angel.co/kima-ventures-kima15/apply