May 12, 2013
A young man, Mike Brown from Bowery Capital, traveled for the last year all over the country and rural towns. Still, this was neither a vacation nor a fun activity. This is how a less than 30 year old man thinks of launching his own venture capital company.
Although it was a very demanding period, this past year paid off, he met with many potential limited partners which he pitched about his idea for Bowery Capital. The company would be an early stage company based in New York and the limited partners eventually enabled him to raise 33 million USD, by offering each 1 million USD. Mike Brown will be a sole partner with two employees that also worked with him at Nic Poulos, AOL Ventures and Keegan Forte.
Brown invested himself through AOL Ventures in a few start-ups himself, such as TechCrunch, Qwiki and Dirsupt winner, but also in Solve Media (a content syndication platform), CAPTCHA, an advertising company or Sailthru. Mike Brown will invest in around 25 start-ups and will invest from 250 000 USD and up to 3 million USD per each start-up.
Among the youngsters who also funded a venture capital fund was also Joshua Kushner, at the age of 27 he raised money also for his New York start-up fund and invested tin famous companies ever since.