MicroVentures, an Austin, TX-based online crowdfunding investment service, has raised $150k.
The round was raised by using the service itself, with contributions coming from several of the investors currently in the network, with an average commitment of just over $10k per participant.
The funding will be used to grow the platform and the investor base.
Led by CEO and founder Bill Clark, MicroVentures allows investors to fund start-up opportunities not typically available outside a traditional venture capital structure. It uses its online crowdfunding service to create opportunities for investors looking to make smaller commitments by pooling and connecting them with entrepreneurs, start-ups and small businesses looking to raise money.
In late October, the company raised $300k for a fund created to buy private shares in Facebook on a secondary market (read here).