Entrepreneur Media, publisher of Entrepreneur magazine and Entrepreneur.com, launched a new venture capital fund called Entrepreneur Ventures.
The fund, headquartered in Los Angeles and led by General Partners Danny Beckett, Jr. and Jonathan Hung, plans to invest up to $10m in 150 to 200 pre-seed stage startups, primarily operating in the CPG, consumer, and B2B frontier and enterprise tech sectors.
Entrepreneur Ventures plans to invest in early-stage entrepreneurs across various industries. Its operating partners will help support startups with all aspects of building a company, including finance, operations, strategy, growth, talent, engineering, and more. The fund’s affiliation with Entrepreneur Media and its family of print and digital publications and productions provides access to a diverse community of founders and entrepreneurs, with 20 million unique website visitors, 3.2 million readers, and 15.8 million social followers to support traction and growth.
Beckett has over 20 years of experience in launching, scaling, and exiting startups, as well as investing in real estate and family and founder-owned businesses. He started his professional career as a professional athlete and brand ambassador before jumping to founder and VC.
Hung has over 15 years of experience as a venture capitalist and entrepreneur, having invested in more than 90 pre-seed and pre-IPO investments, and is an active angel investor on the West Coast.
The co-founders will be joined by a team of six additional investors and advisors, including Entrepreneur CEO Ryan Shea, President Bill Shaw, and Editor in Chief Jason Feifer.
Concurrently with the fund, Entrepreneur Media is also establishing Entrepreneur Venture Partners, an accredited angel investor network. The investors in this network will be able to co-invest in portfolio companies alongside Entrepreneur Ventures, as well as provide personalized mentorship, industry insights and practical guidance to the portfolio founders. The fund expects to add 100 angel partners by the end of 2024.
Entrepreneur Ventures also has additional offices and partners in New York, San Francisco, Toronto, and Grand Rapids.