Jamie Goldstein, who spent the past 18 years as a managing director with North Bridge Venture Partners, launched Pillar Companies this week to disrupt the traditional venture capital (VC) structure. The new venture aims to make the relationship between founders and investors more equitable and transparent. Goldstein, along with 16 Boston-area entrepreneurs – including the CEOs of companies such as Actifio, DraftKings, ClearSky Data and Wayfair – will primarily invest in startups in exchange for common stock. This is different than the preferred shares that early-stage VCs typically receive, which usually puts them in line to be repaid before company management or employees. DraftKings co-founder and CEO Jason Robins told Fortune:
“Pillar is taking a unique approach that I believe will resonate well with the thriving community of young startups in Boston, and I am looking forward to helping our city cultivate the next great set of companies.”
Below is a recap of this week’s other trending conversations and news from Boston’s startup ecosystem.
Michael Troiano, chief marketing officer of Boston-based Actifio, provides his take on the secret of Andreessen Horowitz’s success, and notes that it goes beyond the impeccable reputation of the firm’s founding partners and extended team.
Sheryl Marshall has more than 30 years of experience managing money for big banks, and now she is dedicated to helping such funds get into the hands of young women entrepreneurs. On May 6, Marshall is hosting the second annual Capital W, The Boston Women’s Venture Summit, an event for women from all over the country to pitch and network with VC partners.
MIT will host the finale to its annual MIT $100K competition, an event where students pitch their business plans and compete for the crown of “best idea.” From batteries to conscious consumerism goods to a robot-based restaurant, this competition has something for everyone.
Somerville-based Formlabs, a 3-D printing startup, made it first-ever acquisition with Pinshape. The company allows designers and brands to share, market and sell 3-D designs, and it will continue to operate as a standalone business within Formlabs.
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