IDEO today announced the IDEO Founder Collective, where founders of the design firm’s portfolio companies can invest in each others’ startups.
All 20+ members —including IDEO CoLab Ventures, the firm’s venture arm— are contributing an equal amount of equity or tokens in return for shared ownership in the collective. Besides participation in the group’s companies, members will also be able to leverage each other’s expertise and networks. Future IDEO portfolio founders will also be able to join the collective.
The group is using Syndicate to coordinate its capital and network. Syndicate, announced in March, was co-founded by Will Papper, and by Ian Lee, IDEO CoLab Ventures fellow and co-founder, respectively. Syndicate aims to decentralize investing and assets management.
“We’ve wanted to do this for years, but it seemed too difficult to implement. However, with the launch of Syndicate, we can now easily form and run on-chain collectives,” IDEO said in the April 29 announcement. “This is an exciting step to strengthen the bonds in our community and establish a new, crypto-native model for IDEO and its founders to invest in and support one another.”