In brief: Entrepreneur First nets $115m for its new fund

Entrepreneur First announced today the first close of its US$115 million new global fund, which the company claims is “one of the largest pre-seed funds ever raised.” Institutional investors across the US, Europe, and Asia participated in the round.

Source: Entrepreneur First

With the new global fund, Entrepreneur First plans to invest in more than 2,200 program participants and create over 300 venture-backed companies over the next three years. “This is three times the number of VC-backed companies that [Entrepreneur First] has created to date,” the company said.

Entrepreneurs like TransferWise founder Taavet Hinrikus, Zoopla founder Alex Chesterman, and Magic Pony Technology co-founder Rob Bishop have joined Entrepreneur First as investors.