Fast company

• New 500-backed VC First Move is aiming to move quickly, aiming for 15-20 consumer-focused startups with a max ticket of USD$100K in pre-seed funding.
• They’re halfway there, having already announced investments in Giggly Coco, Scentses & Co, Collektr, Evolut Commerce, Tjufoo, and Decube as well as an unnamed Malaysian coffee company.
• “We move rather fast with the investments and deploying of funds to founders, as we want to ensure founders focus on operating business, rather than spending months fundraising. Signing off of terms and capital deployment is done within days,” said Co-founder Audra Pakalnyte to TechNode Global.
• Being founder-focused, their primary consideration is the founder’s own passion, character and experience in solving the problem the business addresses.
• “While growth was king as recently as a few years ago, profitability has taken the throne now. Investors are actively encouraging their portfolio companies to pursue profitability and self-sufficiency. Slowly, we will continue to see investors go beyond cash injection,” she said.
• Read the full interview here.