London-based venture capital firm InReach Ventures has just launched to invest in European startups in a new optimized way.
Co-founded by Roberto Bonanzinga, Former Balderton Capital partner, John Mesrie, former General Counsel at Balderton, and Ben Smith, former UK Director of Engineering at Yammer/Microsoft, the firm will be fully focused on the early stage European sector. In a blog post, Bonanzinga said that InReach Ventures will develop proprietary software to improve deal flow and portfolio management and leverage a different organizational structure that aligns investors and entrepreneurs.
In a clear effort to optimize what does not work in the current venture capital industry, the firm will provide a “ZERO management fee” proposition to its investors with investments ranging between €150K to €700K.
In most cases, it will not require to have a board seat in the backed company.