Flashstarts has big plans for its Cleveland200 fund; the business startup accelerator wants to invest $5 million in “at least 100 startup companies,” Crain’s Cleveland reports. The fund “is designed to serve as an on ramp that will help startups access all that new capital,” according to the article. Flashstarts CEO Charles Stack called it “a once-in-a-generation opportunity.” The Cleveland200 fund “will invest between $20,000 and $50,000 in each company, in exchange for a 4% to 8% equity stake”; Flashstarts will focus on Northeast Ohio companies, as well as those throughout the state or interested in moving to Ohio. Shannon Lyons, chief operating officer at Flashstarts, said while the fund will invest in startups in “a variety of industries,” the organization is “looking for dynamic teams with really big ideas.” For more, read the full article.
The Cleveland200 fund goal: finance 100 startup companies
