This is a guest post by Brinc founder and CEO Manav Gupta. We don’t usually re-post articles but this one sums it up what Brinc is doing pretty clearly – so, take it away Manav:
We are excited to announce Brinc has secured funding in collaboration with Artesian Venture Partners. Announced on our 3 year anniversary event on December 1st, Brinc Capital will provide seed funding for Brinc startups and potential follow on funding from angel rounds to exit through the Artesian China VC Fund.
Artesian Capital is an alternative investment manager with offices in Sydney, Melbourne, New York, London, Singapore and Shanghai and focuses on fixed income and venture capital funds. Artesian manages over US$250M in Australian and China based early-stage companies, partnering with accelerators, incubators, university programs and angel groups. In Australia their partners include Sydney Angels, BlueChilli, University of Wollongong’s iAccelerate, Slingshot, SproutX and Energylab. Artesian also owns and operates VentureCrowd, Australia’s leading equity, property and credit crowdfunding platform.
Holding a sub 5% acceptance rate, Brinc has reviewed over 2,500 companies and has invested in 29 companies through our accelerator programs over the last few years. Brinc portfolio teams have raised over USD$20M follow-on funding with teams raising an average of USD$1.74M in follow-on post programs. Across our divisions, Brinc’s total portfolio holdings stand at 31 invested companies. The Artesian partnership will have us doubling this portfolio in Hong Kong alone with a minimum of 28 additional investments to be made in 2018.
We will begin by investing across these categories through two of our programs:
- Connected Hardware: Four-month program and US$100,000USD per team across two cohorts for 8–13% equity. Our goal is to bring onboard a minimum of 8 teams per cohort and invest in at least 16 teams next year through this program.
- Robotics: Four-month program and US$70,000USD per team across two cohorts for 8–13% equity. Our goal is to bring onboard a minimum of 6 teams per cohort and invest in at least 12 teams next year through this program.
In addition to seed round investments, Artesian will take pro-rata rights to invest additional capital at later funding rounds for teams showing material traction and external validation. This dedicated funding will allow us to further expand our support for global founders.
