Microsoft Launches Its Own Angel Fund
With its Bing Fund, Microsoft appears set to invest in its own backyard
Microsoft has launched Bing Fund, an angel fund with an incubator program that will make Microsoft resources available to startups and potentially provide it with acquisition targets in the future, Microsoft said. Bing Fund is an angel fund for startups "building online or mobile experiences." Eligible startups must be mature enough to have a business plan and a working prototype of their product, according to Microsoft. They must also have momentum.
"We believe that combining the creativity and fresh insights of startups with Microsoft's expertise and tremendous reach creates a unique formula for driving the industry forward," Microsoft said. The company said the fund was an opportunity for it to develop relationships with "new companies that we could potentially partner with and/or acquire." The Bing Fund incubator program will host a "small number" of companies at once, each for at least a four-month period, Microsoft said. The company said it would work with accelerator programs to find candidates for Bing Fund.
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