Chris DeVore
Pack Ventures partners with University of Washington, raises $30M fund to back UW founders
Pack Ventures, an independent VC fund, has formalized a partnership with the University of Washington and CoMotion to support UW-affiliated startups, launch its second fund, and is raising $30 million with over 50 investors so far. Founder Ken Horenstein says the fund will lower investment barriers for alumni, attract faculty and students, boost philanthropy, and he has pledged up to 2% of his personal proceeds to the UW.
BONUS: Seattle after Techstars, with guest Chris DeVore
Entrepreneur and investor Chris DeVore had an inside view of Techstars Seattle as one of the original leaders of the local startup accelerator in 2010, serving as its managing director from 2014 to 2019. His Feb. 21 post "What went wrong at Techstars," looked closely at the organization's evolution — including its increased focus on corporate sponsorships and shift to centralized fundraising — as the backdrop for the news last week that Techstars is closing its Seattle accelerator as part of a broader reset. So where should Seattle's tech community go from here? And what role do startup accelerators serve…
Pack Ventures launches Seattle syndicate to back UW-linked startups, pledges 10% of future profits to University of Washington
Pack Ventures, a new early-stage Seattle VC, will invest $100K–$200K checks in startups tied to the University of Washington and has already backed five companies including Jeeva Wireless, Talus.bio and Monod Bio; the firm will return 10% of individual future profits to UW. The syndicate includes more than 35 founding investors from the Seattle VC and entrepreneur community and will target AI, robotics, computational biology, enterprise software and other high-growth areas.
By Chris
See all 9Founders’ Co-op announces $50M Fund VI to continue first-check investments in regional technical founders
Founders’ Co-op announced a new $50 million venture fund, Founders’ Co-op VI, managed by the same two partners, focused on early first-check investments in ambitious technical founders within their regional talent network rather than positioning as an AI-specific or larger fund.
Fed’s 2022 Tightening Ends Venture Excess, Clearing Path for Real Innovation After Years of Easy Money
After years of easy money and inflated venture activity that rewarded hype over substance, the Fed’s tightening since early 2022 ended the era of abundant capital and speculative startup excess, paving the way for more disciplined, real innovation. The author argues the prior cycle largely wasted opportunity on trivial fads and poor capital allocation, and that stricter conditions will restore healthier risk awareness for founders and investors.
Author outlines how successful accelerators prioritize finding and supporting exceptional founders over ideas
The author responds to reactions to their Techstars obituary by outlining what makes an effective startup accelerator, arguing that accelerators must focus on identifying and supporting exceptional founders rather than ideas or technology. They begin a step-by-step framework emphasizing clear goals and prioritizing founder quality as the most important factor for early-stage investor success.
