Weekend Fund Sets Up $10 Million Second Early-Stage Fund

By Amit Chowdhry ● November 26, 2019
  • Weekend Fund, the venture firm launched by Product Hunt founder Ryan Hoover, announced it raised $10 million for a second early-stage fund

Weekend Fund — the venture firm founded by Product Hunt founder Ryan Hoover — has closed $10 million to invest in early-stage startups. This is more than three times the size of Weekend Fund’s $3 million debut fund that closed in 2017.

Through the debut fund, Weekend Fund invested in 40 startups.

“This includes Sophia Amoruso (Girlboss) who’s building a vibrant community for ambitious women, Justin Dangel (Ready Responders) who’s quietly saving lives, Paul Budnitz (Superplastic) who’s creating something remarkably weird, Sarah Paiji (Blueland) who’s reducing the world’s plastic footprint with an innovative model, Braden Ream (Voiceflow) who’s supporting a new generation of voice apps, and Alex Ma (TTYL) who’s bold enough to build a new kind of social network,” wrote Hoover in a blog post.

ADVERTISEMENT

The limited partners in this fund include Marc Andreessen, Chris Dixon, Jana Messerschmidt, Ben Rubin, Chris Sacca, Crystal Sacca, Hunter Walk, Kevin Rose, Garry Tan, Suzy Ryoo, Steven Sinofsky, Corley Hughes, Scott Belksy, Varsha Rao, Eric Ries, and Troy Carter, according to TechCrunch.

Rumors about the Weekend Fund raising $10 million surfaced in September, which is when the firm filed paperwork with the SEC revealing that it raised $8.676 million (from 98 investors) out of a targeted $10 million.

When Hoover launched Weekend Fund, he pointed out that the “next big thing” is being built on nights and weekends. “Some of the most transformational companies started as a side project driven by curiosity and an eagerness to build something new,” wrote Hoover in a blog post back in 2017.

Weekend Fund’s second fund is going to write checks in the $100,000 to $200,000 range for about 40-50 companies.

Earlier this year, Vedika Jain joined Weekend Fund as the full-time chief of staff.