- The company is rolling out the product at the time when 500 startups and incubators are going back to their drawing rooms.
- NextView may not take charge of the next round of financing.
A Boston-based venture capital firm Nextview Ventures has rolled out its new remote accelerator program. Sensing the potential damage done by COVID-19 pandemic, the company is eyeing to infuse money and leave no stone unturned to keep the viability of the business intact.
Sources indicate that NextView will inject around $200,000, amounting to 8% stake in less than 10 pre-seed and seed startups. The program is said to be completely virtual and will support founders who vie to support mankind.
The company is alleged to have loathed the traditional acceleration programs, including large batch sizes. It is worth noting that NextView accelerator is rolling out the product at the time when 500 startups and incubators such as Y Combinator are going back to their drawing rooms. Y Combinator is said to be contemplating to make its next lot completely remote.
NextView is also believed to be approaching conservative post-accelerator financing. The company is said to be adopting the policy of post-accelerator financing. Apparently, in the next round the company is set to connect its small cohort with investors; however, the company may not lead the charge of the next round of financing.
NextView is poised to partake in a pro-rata basis to underpin the cohort in further round of financing. People aware of the situation state that the company perceives its accelerator as a disparate function from its investment company. Meanwhile, speculations are doing rounds pertaining to the company’s apprehension regarding capital infusions at the time of the pandemic.
With the case of one step forward and two steps backward being prevalent among several companies, NextView has come through the ranks and is launching an accelerator and infusing funds in startups.