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Pioneer Fund launches first fund with an initial $10 million (USD) closing

· Press Release

San Francisco, March 01, 2018 – Today Pioneer Fund announced the launch of its first fund and initial closing of $10 million (USD), including investments from well-known Silicon Valley venture and angel investors, several large family offices, and seasoned entrepreneurs with $1B+ exits. Pioneer Fund is a new early-stage venture fund that pools capital and expertise from Y Combinator alumni. The fund includes over 115 YC alumni investors as Venture Partners.

Over the past eight months, Jason Gray and Jared Heyman have created this independent venture fund to leverage the expertise and network of YC's growing alumni base. As former YC founders, Jason and Jared are creating a fund with a founders-first philosophy, a commitment to portfolio diversity, and an investment model that leverages the expertise of the fund's Venture Partners.

Pioneer Fund has an entrepreneurial team of experienced operators with a strong angel investment record, a solid network in Silicon Valley and globally, and deep hands-on industry expertise in the verticals they invest.

The fund plans to deploy its capital in over 80 startups over the next three years, focusing on the pre-seed and seed stages.

Quotes:

“We are putting together an early-stage venture fund based on a large portfolio diversification. Pioneer Fund is here to support our companies by leveraging our large network of YC alumni, their expertise, and their connections within the startup community.” Jason Gray, Managing Partner

“We’re focused on supporting the YC community by providing further expertise and capital. We’re investing in the top companies in each batch in areas ranging from fintech, health care, marketplace and blockchain technologies.” Jared Heyman, Managing Partner

About Pioneer Fund

Pioneer Fund pools capital and expertise from 115+ Y Combinator alumni to invest in top YC startups, leveraging the unique domain knowledge and networks of the YC alumni community. In addition to YC alumni, the fund's investor base includes well-known Silicon Valley venture and angel investors, several large family offices, and seasoned entrepreneurs with $1B+ exits. Pioneer Fund has an entrepreneurial team of experienced operators with a strong angel investment record, a solid network in Silicon Valley and globally, and deep hands-on industry expertise in the verticals in which they invest.

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