Rough Draft Ventures

Overview

Rough Draft Ventures is a student-run pre-seed venture capital fund that invests $25,000 in startups founded by university students or recent graduates, primarily in technology sectors across North America.³⁴ Backed by General Catalyst, it operates through student investors from over 35 campuses who source deals, conduct diligence, and provide portfolio support, having backed over 275 companies that raised more than $4 billion in follow-on funding.³ It holds a unique position as an accessible entry point to institutional VC for student founders, with a track record including unicorns and acquisitions.⁴

History

Rough Draft Ventures was founded in 2012 or 2013 as a student-led fund powered by General Catalyst to support university entrepreneurs.³⁴ It has invested in over 275 companies, including Notion, WHOOP, and Fireflies.ai, with portfolio firms raising over $4 billion and creating thousands of jobs.³ In January 2024, it rebranded to GC Venture Fellowship to integrate more closely with General Catalyst and expand its mission, including a new grant program.⁴

Notable Products

• Investments in Notion - Early backing of the productivity software unicorn.
• Investments in WHOOP - Support for the wearable fitness technology company.
• Investments in Fireflies.ai - Pre-seed investment in AI meeting assistant.
• Investments in Bowery Farming - Funding for vertical farming technology.
• Investments in Snackpass - Investment in campus food ordering platform.

Reputation

Perceived as a valuable first-money-in fund for student founders due to its campus networks, low-friction SAFE investments, and access to General Catalyst resources.⁴ Professionals note its proven track record with 3 unicorns, 26 acquisitions, and strong follow-on funding outcomes.⁴ It is praised for empowering student investors with real decision-making authority.¹³