Kent Goldman, formerly a partner at First Round Capital, has launched Upside Partnership and closed its maiden seed-stage investment firm.
With an amount of $30m, Upside I features a new type of partnership in which every backed founder will become a partner in the fund and will be granted a portion of the fund’s carry and share in the performance of the broader portfolio.
The firm aims to back founders at the very early stage before they build their first product.
At First Round Capital, Goldman led investments such as Airware, Artillery, Cabana (acquired by Twitter), Cluster, Hotel Tonight, HotPotato (acquired by Facebook), Liftopia, MemSQL, MessageMe, Path, Storenvy and Threadflip and served on the board of Mashery (acquired by Intel).
04/02/2014: Fortune: Kent Goldman leaving First Round Capital