Entrepreneur Jason Calacanis announced today in his blog the closing of his first formal angel investing fund, called The LAUNCH Fund I, named after his conferences and events. The fund, which has already made investments, raised $250,000 each from David Sacks (founder and CEO of Yammer and with PayPal before that) and Calacanis to back winners of the LAUNCH Festival. Calacanis said in a blog post that the fund grew, thanks to investments from “a list of my good friends.” He added, “We are leaving it up to the LPs to disclose that they’re in the fund, if they want to.” Pehub previously reported that the size of the fund is $10 million.
Calacanis also said he started one of the first AngelList syndicates.
Read Calacanis’ blog post here.