Harry Stebbings, the founder of 20VC, has launched his third and final offshoot fund, named 20PRODUCT, with an initial capital of $5 million.
Fund Overview
Similar to his previous funds, 20SALES and 20GROWTH, 20PRODUCT aims to assemble a group of seasoned experts who will invest in early-stage founders seeking to establish, grow, and scale their ventures. The fund’s unique proposition lies in providing founders access to a diverse panel of experienced operators, effectively enhancing their cap table with valuable expertise.
Investment Strategy
20PRODUCT plans to provide financial backing of $100,000 or more to pre-seed, seed, and Series A companies, focusing solely on initial investments without engaging in follow-on rounds.
Rationale Behind Specialized Funds
Harry Stebbings developed these specialized funds in response to the perceived limitations of traditional venture capital support for founders. He believes that operators, rather than traditional investors, are best positioned to offer meaningful assistance to founders. By structuring dedicated funds, Stebbings aims to create a mechanism that optimizes the investor-founder relationship, facilitating superior support for entrepreneurs.
Expert Panel
The 20PRODUCT fund comprises eight distinguished individuals with backgrounds spanning companies such as Shopify, Nubank, Spotify, Snap, LinkedIn, Ramp, Match, and Xiaomi. The founding partners include Hugo Barra, Jack Brody, Geoff Charles, Glen Coates, Tomer Cohen, Jag Duggal, Gustav Söderström, and Will Wu.
Part-Time Engagement
Despite their involvement in the fund, all founding partners will maintain their current professional roles, contributing to 20PRODUCT on a part-time basis. Additionally, Harry Stebbings will serve as a limited partner and advisor to the fund, leveraging his expertise to further its objectives.
In summary, the launch of 20PRODUCT represents a significant step in reshaping the venture capital landscape by prioritizing operational expertise and direct founder support. With a diverse panel of seasoned operators and a focused investment strategy, the fund aims to empower early-stage founders on their journey to success.
