The Fund, an early-stage financial investment firm with a memorably simple name, is looking beyond New York City as it begins investing its

2nd fund. Creators Jenny Fielding (who’s likewise managing director at Techstars New York )and Scott Hartley (also co-founder and partner at Two Culture Capital) told me that in the past two years, they’ve currently backed 52 New york city City start-ups.

“The seed funds in New york city have actually all gone upstream,” Fielding argued, making it harder for founders to get the smaller sized checks they require when they’re getting going. So The Fund is intending to take part in those “first check” rounds of between $500,000 and $1.2 million.

To discover those investments, Fielding and Hartley said rely on a “crowdsourced” method, taking suggestions from the start-up founders that they’ve recruited as minimal partners in The Fund– a group that includes names like General Assembly creator Matthew Brimer, One Medical founder Tom Lee, Handy co-founder Oisin Hanrahan, SoundCloud founder Alex Ljung and ClassPass co-founder Sanjiv Sanghavi.

At the same time, rather than relying on a “ballot and agreement” procedure, the decisions are ultimately made by the investment committee, a smaller sized group that at first consisted of Brimer, Fielding, Hartley and Katie Hunt.

The company is targeting $9 million for the second fund, with one-third deployed in New York, another third in Los Angeles and the final 3rd in London.

Hartley said The Fund is taking a “modular technique” to this growth, with an independent financial investment committee in each city: In New york city, it will be Josh Hix, Katie Shea and Becky Yang, along with Fielding and Hartley; in Los Angeles, the committee includes Raina Kumra, Josh Jones, Anna Barber and Austin Murray; and in London, it’s Carmen Alfonso Rico, Eamonn Carey and Marina Gorey.

“The big vision is, we have actually composed the playbook,” Fielding stated. “Fund one was an experiment, and now fund 2 is an experiment: Does this scale? After we have about a year’s worth of information about deals under our belt, we wish to take it to the next level. Why shouldn’t The Funds be turning up in every city?”

And despite the fact that COVID-19 has brought a halt to large sectors of the worldwide and domestic economy, Hartley said the company has continued to compose checks at the exact same speed.

“We had such conviction in the [founding] groups that it hasn’t actually decreased the cadence of our investing,” he said. “We take a long-term approach with pre-seed investing. We see this as a multi-year journey.”

Fielding added that it’s been “inspiring” and “sensational” to see how their existing portfolio companies have adjusted to this brand-new truth. As an example, she indicated how rowing class start-up CityRow has shifted to virtual classes.

And if you’re wondering about that name, Fielding stated they were completely conscious that calling themselves The Fund could trigger some “Who’s on very first?”-design confusion. “We wanted to make fun of ourselves a bit,” she said. And besides, the majority of the great tree names were taken.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.