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Overview

Dorm Room Fund is a student-led venture fund that empowers students to become venture capitalists while supporting student-founded companies. Created in 2012 by First Round Capital, it has evolved into an independent fund that invests in student-led startups. Participants gain hands-on experience in sourcing, evaluating, and investing in startups, while building a professional network and investment expertise.

Investment focus

Dorm Room Fund focuses on investing in student-founded companies, allowing student investors to take active roles in venture capital. The program aims to create a community of student investors who leverage their academic and entrepreneurial networks.

Program details

Designed for Students, Investors, Scouts. The program is hybrid. Participation is generally part time.

Who it is for

Participants must be currently enrolled students or on a planned-return gap from a full-time university program. International students are eligible if they attend a U.S. or Canadian college.

Check if you are eligible

Admissions and application

The program has an application-only process with rolling admissions. Applicants must submit a written statement and may go through an interview process.

Benefits

Participants gain real venture capital experience, investment decision-making authority, and opportunities for professional development and networking with founders and accomplished investors.

Timeline

Undergraduate students can participate for up to 4 years, MBA students for up to 2 years, and PhD candidates have extended participation periods until graduation.

What came of it

Alumni of Dorm Room Fund have gone on to work at over 50 venture funds, including leading firms like Bessemer Venture Partners and Andreessen Horowitz. Portfolio companies have collectively raised over $6 billion in follow-on funding.

How to go about it

  1. Read what it asks for

    Who can apply, how people get in and whether it is open right now.

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  3. Apply the way the program asks

    The program has not published how to apply. Terms and dates change. Check the official page before you act.

What it pays

Participants do not receive monetary compensation but gain valuable experience and networking opportunities.

Questions about this program

Why apply to Dorm Room Fund?

You’ll get capital, mentorship, and a lifelong network that has helped 300+ student-led companies raise $6B in follow-on funding.

Do I need an MVP?

No; DRF backs founders as early as strong user research or demo.

How quickly will I hear back?

Expect a final decision within 48 hours of the investment committee pitch.

Can I re‑apply if previously declined?

Yes. Teams such as Snackpass were funded on a second attempt.

Are international companies eligible?

Startups must be US-incorporated, though operations can be global.

What ownership does DRF target?

Roughly 1.3 percent post-SAFE, aligning with an early key hire.

Who makes the investment decision?

Regional teams of trained student partners vote; majority approval required.

Is there sector focus?

No – DRF is thesis-agnostic and has funded everything from AI to consumer brands.

Do non‑US students qualify?

Yes, provided the company is incorporated in the US and at least one founder is still a student or recent grad.

What if my team just graduated?

At least one founder must be within one year of graduation at the time of application.

Can I re-apply if previously declined?

Yes. Teams such as Snackpass were funded on a second attempt.

Do non-US students qualify?

Yes, provided the company is incorporated in the US and at least one founder is still a student or recent grad.

About First Round Capital

First Round Capital

Venture Capital

Investing in early-stage technology companies.

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