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Precursor Ventures raises $15.3 million for seed investing, with a twist

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Michael Nicewander
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Charles Hudson has lived in the Bay Area for the last 20 years, working as product manager, as an entrepreneur, and an investor.

As such, he s had a front row seat to a number of changes in the way startups are funding, including the evolution of numerous angel investors into so-called micro VCs into fund managers who are now responsible for hundreds of millions of dollars.

Take investor Jeff Clavier, who began sprinkling tiny amounts of money across what appeared to be a new crop of capital-efficient startups back in 2004 and soon after launched a firm, SoftTechVC, where Hudson would become a partner in 2013.

The goal for Precursor is to write checks in the range of $150,000 to $250,000 to teams that have maybe two founders and a prototype and probably not much in the way of a launched product or traction, with about 20 percent of the capital set aside to participate in slightly more mature companies that are maybe raising $2 million on a $6 million pre-money valuation.

CH: The idea is to write 18 to 20 checks per year, so I ve made 50 investments over the last two years, including as I was raising this fund .

Why not go in the exact opposite direction and make lesser, more concentrated bets?

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Michael Nicewander
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