Ex-500 Startups partners launch Hustle Fund to level the playing field for founders

Ex-500 Startups partners Elizabeth Yin and Eric Bahn want to focus on potential impact, not on whether or not founders have a degree from Stanford or some Ivy League school. Their goal with Hustle Fund, according to sources, is to level the playing the field for entrepreneurs in an industry where pedigree is not a good proxy for success. Hustle Fund ultimately wants to create a true meritocracy in the venture capital world.

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The fund is seeking to raise $50 million, according to an SEC filing. The intention of the fund, according to sources, is to invest in between 150 to 200 pre-seed companies with small checks of about $25,000 each. Next Thursday, the fund will officially launch and start making investments.