Speek (TechBUZZ ’12 Spring) among first Crystal Tech Fund deals
The Crystal Tech Fund, a “post-seed” fund launched by former 500 Startups partner Paul Singh, on Thursday named its inaugural half-dozen deals.
They are: conference call-startup Speek, table-ready meal distributor Power Supply, professional services search startup Seva Call, building-supply marketplace SupplyHog, risk-management startup Riskpulse and event software company Nvite. All are taking space at the fund’s 27,000-square-foot headquarters in Crystal City, which also houses Singh’s own company, Disruption Corp.
Four of the six companies were already based in the D.C. area. Riskpulse is moving here from Austin, Texas. SupplyHog hailed from Chattanooga, Tenn.
Each received an investment of between $250,000 to $1 million from the Crystal Tech Fund. This isn’t an accelerator; moving into the space is optional, Singh said, although all of companies so far have opted to do so. They pay $500 per head, per month. “We’re just really trying to give them an environment, if they want to take it,” Singh said.