Former TechCrunch Editor Alexia Bonatsos Launches Venture Fund
Alexia Bonatsos, the former editor of TechCrunch, has unveiled her new venture fund, Dream Machine. The new firm is described as an “opportunistic seed fund, interested in AI, voice, AR, VR, IoT, and blockchain.”
Dream Machine is currently raising a $25 million fund and has already made 7 investments, 3 of which were referenced in the TechCrunch article announcing the new fund. The first major investment was in TruStory, which was founded by Preethi Kasireddy, a former member of both Coinbase and Andreessen Horowitz.
TruStory is building a platform that allows users “to discover and validate claims that people make online, whether in a blog post, whitepaper, website, or social media post,” an idea similar to the ‘Yelp for Journalists’ concept Elon Musk pitched on Twitter last week that was met with mixed opinions and significant criticism in the media.
Going to create a site where the public can rate the core truth of any article & track the credibility score over time of each journalist, editor & publication. Thinking of calling it Pravda …
— Elon Musk (@elonmusk) May 23, 2018
The fund’s other investments include Omni, a rental and storage platform that allows users to earn extra money by lending out unused household or garage items, and Fable Studios, a studio for augmented and virtual reality content.
Based on the investments that have been revealed, it looks like Dream Machine will have a strong focus on technology startups working in the content and publishing space. Bonatsos shared that she plans to inject around $300,000 per investment, and is willing to invest in both first-time and serial founders.
Bonatsos served as the top editor for TechCrunch for five years before stepping down in 2015 to enter into an accelerated MBA program at Stanford University’s business school. Dream Machine joins a number of newly launched seed-stage investment funds, including Shrug Capital, which was founded by Niv Dror, AngelList’s former head of marketing, in April.