Over oysters and craft beer at the new Row 34 restaurant in Fort Point this Thursday, the high-tech investment team from Cambridge-based Atlas Venture will make an unusual proposition to 16 entrepreneurs: Invest our money as you see fit, no questions asked.
Those who accept the offer will join an exclusive club called Boston Syndicates, whose members are given unchecked power to spend the firm’s money on promising Massachusetts startups, $250,000 at a time.
The only catch is that members must invest some of their own money, too.
The group, which was formed late last year and has 14 members so far, is composed of what folks in the startup world call angel investors — individuals who bet their own money on early-stage companies they believe in, as opposed to investing in venture funds controlled by others. Angels are often entrepreneurs who achieved success with their own startups and think they have an eye for young businesses capable of doing the same.
Atlas believes some have eyes so keen that the firm is willing to put its money wherever they do. The idea is that angels who are part of the local tech business community might be able to spot the next hot company before venture capitalists do.
You have reached the limit of 5 free articles in a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than 25¢ a week