Is there hope? A new FAQ exists at GC Ventures:I don't think this page existed until recently. I sure haven't seen it before.
https://www.glassventures.vc/faq
It gives me hope even though this whole Glass Slippsers Venture Fund is over my head. Somehow, Bundeep has a 50% stake in it and we have a 25% stake if I understand correctly . We are always playing second fiddle to Bundeep, but I hope it trickles down to us in a beneficial way. Bundeep earns interest on our money. He pays his loans off that he makes to the company with our money and charges us interest. I think that is shady, but I hope we see returns too. It would be nice if shareholders get to eat one day.
Some interesting excepts:
1. The "first round" is expected to close at the end of September.
2. After only a few weeks of formal fundraising, we have a soft committed cornerstone investor from London ($15,000,000), which should be closing on by the end of August the latest.
3. The founding GPs are the two individual co-founders and Fineqia. Collectively, they are contributing in kind to the GP with $5+ million worth of equity stakes – that keeps on growing, not to mention the increase of the value of the portfolio, even while fundraising
4. The target fund size for this venture is $100M. with a first close of $30+M.
5. There are several references to an investor deck somewhere, which I can't find. I would like to see this investor deck.