Niv Dror, the former head of marketing at AngelList, has launched a $3 million venture capital fund named ¯_(ツ)_/¯ Capital, also known as Shrug Capital. The fund has already captured the interest of Andreessen-Horowitz partners Marc Andreessen and Chris Dixon, Founders Fund’s Cyan Banister and Owen Brainard of Brainard Capital, Business Insider reports.
Dror had the shrug emoticon tattooed on his left wrist two years ago when he was an editor at Product Hunt, a website that curates the latest mobile and tech products. He says that his experience working at the company prepared him for creating his portfolio of consumer-based companies.
The idea all started with a tweet:
If I ever raise a venture fund I’m calling it: ¯_(ツ)_/¯
— Niv Dror (@Nivo0o0) December 1, 2017
Shrug Capital’s portfolio already boasts 9 startups, including the popular trivia app HQ, a promising sign for the fund. Dror explains, “I knew that if I could get into HQ, it would help me raise the fund and get access to competitive deals.”
Other companies include Superhuman, a platform reinventing the email experience; Molly, an automated knowledge base built from your online presence; Relationship Hero, a 24-7 digital dating coach; and Nuzzel, a news intelligence platform.
So far, both investors and founders seem to love the outside-of-the-box name. Dror tells Business Insider, “I got an email from a founder a few days ago who said, ‘I can’t wait to have a shrug emoticon on the cap table.'”