WebStart Bristol, an internet incubator, has secured over £50,000 during its third equity crowdfunding campaign on Seedrs. The company opened nearly three years ago after its first funding initiative in 2013.
As previously reported, WebStart Bristol stated after its first two successful Seedrs initiatives, the first cohort of ten companies completed their program March 2014 and second in July 2014. The campaigns were structured as “funds,” which offered individuals to participate in a portfolio of small companies which are carefully selected by the incubator creating a diversified approach with a single investment. The third Seedrs campaign went directly to WebStart, and the funds were invested in five new startups over the past year in exchange for 10% equity stakes.
Founder and chief executive of WebStart Bristol, Mike Jackson recently stated that since January 2014 the company has provided 24 app and web service companies with workspace tech support. Only nine have failed, six have yet to raise, and another nine have raised further investment and increased valuations. He also explained three startups, Duel, Wriggle, and Zenstores, have raised the most money with WebStart Bristol. The companies have a combined post-money valuation of £6 million.
Jackson, an entrepreneur himself, previously sold his company and moved to Bristol in 2005. While reading an article about famed Silicon Valley incubator Y-Combinator, Jackson decided to create a similar type structure to help build tomorrow’s next big tech success in the UK.
Just before WebStart Bristol secured its funding, the company announced one of the latest portfolio of Webstart companies has recently closed a £140,000 Angel investment round and will be looking forward to rapidly expanding their innovative social network in the UK and US. Although it not reveal which company.
The campaign is set to close shortly.
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