First Round Capital expands Dorm Room Fund to NYC
First Round Capital’s Dorm Room Fund concept which debuted at the University of Pennsylvania last year has expanded to New York City, covering Columbia, NYU, Princeton, and the Cornell Tech Campus. In each case, a team of students receives $500,000 and is asked to invest $10,000 to $20,000 in 10 student-run companies per year, based on the notion that students know who on campus is the smartest and is working on the best ideas. The firm expects to launch similar programs in other cities in the future. [Source: AllThingsD]
