Capital Factory, Silverton Partners and Floodgate announced Monday morning they are teaming up to provide matching investments for all Capital Factory incubator companies.
Josh Baer, co-founder of Capital Factory, made the announcement via a blog post and on Twitter. TechCrunch also posted this story on it.
In total, each startup will get up to $150,000 in venture financing through the program.
Here’s how it works: “a startup founder who can find two Capital Factory mentors that invest $25,000 each into the company automatically triggers a matching venture capital investment of $50,000 from Capital Factory’s in-house fund and $25,000 each from Silverton and Floodgate,” according to a news release.
Reaction from Twitter:
— Capital Factory (@CapitalFactory) February 3, 2014
— Kip McClanahan (@kipmcc) February 3, 2014
— Mike Maples (@m2jr) February 3, 2014