MSU closed its first seed stage fund a little over a year ago so I thought I’d do a quick wrap up of how our first year went. 

1. The initial fund was $3M and we said we wanted between $5-$10M. As we raised another $2M this fall, I’m calling this one despite being on the low end of our target.
2. We said we were going to co-invest alongside Angels. We’ve got Angels involved in about half our deals, so I’m calling this one as well even though we need to improve upon it.
3. We were aiming to do at least eight deals in 2008. Well, we did eight and another two are due to close shortly, so we’re good here as well. By the way, not all the investments have been announced yet, but some of you may have heard about the latest one.

So we’re three for three in 2008! Of course, investing the money is the easy part, now we need to help those companies grow and raise their next round of funding. While we still have money to invest, the bulk of our time in the next six months will be spent on our existing portfolio companies rather than looking for new investments. 2009 is shaping up to be a lot of fun!