A Boston-based venture capital fund Atlas Venture is planning to stoke the laggard New England technology startup scene.
The firm recently formalized a group called Boston Syndicates, known as BOSS, after starting it earlier this year. BOSS is made up of 23 New England-based entrepreneurs and investors, who can band together to raise money for local technology companies. Once they invest in a Boston-area startup, Atlas will put an additional $250,000 into the company.
“We wanted to give easier access to capital to the tech industry in the Boston-area, which has been lagging behind Silicon Valley,” Jeff Fagnan, a partner at Atlas, said in an interview.
Atlas is pushing the program after New England, which had a plethora of technology startups more than a decade ago, has fallen behind other regions in entrepreneurship. The San Francisco Bay area is the top hub for technology investments and startups formation, while New York City surpassed Boston to take the second spot in 2010, said Anand Sanwal, chief executive officer of CB Insights, a New York-based venture capital research firm.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Boston, Boston Venture Capital, Atlas Venture, New England Technology Startup, Technology Startup, Boston Startup, Startup, Boston Syndicates, BOSS, Silicon Valley Jeff Fagnan, San Francisco, New York City, Anand Sanwal, CB Insights, New York, New York Venture Capital.