Marketing and sales software company Hubspot announced Tuesday the launch of a $30 million investment fund created to help early-stage startups focused on growth. The fund will support series A or series B rounds for companies with a notable lead investor.
Hubspot Ventures plans to invest in companies building SaaS-based products focused on long-term customer relationships instead of optimizing for quarterly numbers or other short-term goals.
“We’re not looking for quick wins with this fund,” said Hubspot’s VP of corporate and business development Andrew Lindsay in a statement. “We’re investing in companies that we believe will lead to a positive return on investment, but more than just that, we’re investing in companies that are committed to our philosophy of growing better.”
Lindsay will manage investments from HubSpot’s San Francisco office, according to the Boston Business Journal. Startups can be based anywhere.
HubSpot Ventures will also act as a mentor to portfolio companies after the initial investment with personalized assessments and coaching from HubSpot experts.
“With HubSpot Ventures, we’re seeking out startups that are aligned with our mission to help millions of organizations grow better and add value to the ecosystem of companies benefiting from the HubSpot platform,” said Dharmesh Shah, co-founder, and CTO of HubSpot, in a press release.