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Project 11 was a venture capital fund founded in 2014 and based in Cambridge, Massachusetts. The firm specialized in investing in early-stage technology and software companies, primarily at the pre-seed stage. Co-founded by Bob Mason, Katie Rae, and Reed Sturtevant, Project 11 aimed to work closely with founders to navigate the complexities of building startups. The fund has since ceased making new investments, marking a significant shift in its operational status.
Despite its inactivity, Project 11 has built a notable portfolio of 14 companies, showcasing its commitment to supporting a diverse range of startups. The firm was recognized for its founder-first approach, providing not only capital but also strategic guidance and mentorship. This approach has left a lasting impact on the founders and companies it supported during its operational years.
Project 11 primarily focused on early-stage investments, particularly at the pre-seed stage, which is earlier than most seed funds. The fund's investment strategy emphasized a hands-on partnership with founders, providing them with both financial support and strategic guidance. This model allowed Project 11 to follow on in later funding rounds, ensuring continued support for its portfolio companies as they grew.
While specific details regarding the sectors or geographical focus are not provided, the firm was known for its commitment to technology and software startups. The founder-first approach was central to Project 11's investment philosophy, aiming to empower founders through mentorship and operational support. This strategy not only facilitated the growth of individual startups but also contributed to a broader network of innovation within the technology sector.
Project 11's portfolio includes a diverse range of 14 notable companies, showcasing its focus on early-stage technology and software ventures. The following companies are part of its investment history:
Bob Mason - Co-founder and Managing Partner at Project 11. He has extensive experience in venture capital and has been involved in various successful investments.
Katie Rae - Co-founder, CEO, and Managing Partner. She is also known for her role at The Engine, MIT's tough-tech venture fund, and has a strong background in supporting technology startups.
Reed Sturtevant - Co-founder and General Partner at Project 11. He has a background in venture capital and has contributed to the growth of several early-stage companies.
As of now, Project 11 has ceased making new investments, indicating a significant operational shift. There have been no recent public announcements or activities related to new investments or fund raises. The co-founders have moved on to other roles, with Katie Rae taking a prominent position at The Engine, MIT's tough-tech venture fund.
Project 11's established network of founders and notable portfolio companies continues to provide valuable insights, even as the firm remains inactive in terms of new investments.
What are Project 11's investment criteria?
Project 11 primarily invests in early-stage technology and software companies, focusing on the pre-seed stage. The firm looks for founders who demonstrate a strong vision and the ability to navigate the challenges of building a startup.
How can I apply or pitch to Project 11?
Project 11 has ceased making new investments, and therefore, does not currently accept applications or pitches. Previously, the firm engaged directly with founders to discuss potential opportunities.
What makes Project 11 different from other venture funds?
Project 11 is known for its founder-first approach, providing not just capital but also strategic guidance and mentorship to its portfolio companies. This hands-on partnership model distinguishes it from many other venture capital firms.
What is the geographical scope of Project 11's investments?
While specific geographical focus details are not provided, Project 11 was based in Cambridge, Massachusetts, and primarily invested in companies within the technology sector.
What is the fund size or check size for investments?
Project 11 focused on pre-seed investments, but specific fund size or check size details are not disclosed. The firm typically aimed to follow on in later funding rounds.
What kind of post-investment involvement does Project 11 have?
Project 11 emphasized a hands-on partnership with founders, providing ongoing strategic guidance and mentorship to help startups grow and succeed in their respective markets.
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