paid about €125 million for Magic Pony in 2016, earning Entrepreneur First around €5.4 million from a €13,380 investment. Magic Pony, a London-based artificial intelligence startup, is arguably Entrepreneur First’s most significant success story. company, accepted candidates receive a monthly stipend, followed by a small seed investment in return for an 8% stake. Hoffman is also on the board of room-rental startup Airbnb Inc.įounded in 2011 by Alice Bentinck and Matt Clifford, Entrepreneur First follows a similar model to YCombinator, the California-based financier that has backed Airbnb, Dropbox Inc. Hoffman is a partner at Greylock Partners, and in March joined the board of Microsoft Corp., three months after the world’s largest software maker acquired LinkedIn.
In early 2017, Hoffman joined forces with political strategist Dmitri Mehlhorn, among. The backing of Hoffman is a significant boost to Entrepreneur First, which finds technical and business talent - from computer scientists to banking analysts - and then brings them together in order to create startup companies. Billionaire Reid Hoffman’s venture capitalfueled crusade to save democracy had a bit of a bumpy start. Hoffman will also join the board of Entrepreneur First.
Hoffman’s involvement was first reported by Bloomberg. Greylock Partners led the €10.4 million funding, which also included Lakestar Capital, and Demis Hassabis and Mustafa Suleyman, the founders of DeepMind, according to a statement from Entrepreneur First. co-founder Reid Hoffman has invested in Entrepreneur First, a London-based hub for startups, alongside Mosaic Ventures and Founders Fund. (Bloomberg) The venture capital firm led by LinkedIn Corp.
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