The young Bay Area accelerator NFX Guild hosted its third “demo day” yesterday at the Computer History Museum in Mountain View, and the attendees were a veritable who’s who of venture and angel investing.
It wasn’t necessarily a surprise that roughly 200 top investors were sitting elbow to elbow to see the presenting companies. NFX Guild prides itself on being different that most accelerators in numerous ways, including that there’s no publicly available application process; startups are instead referred to NFX “scouts,” who happen to mostly be VCs. The last class, which passed through the program earlier this year, saw referrals from 42 people; this class involved 68 scouts.
NFX was also founded by a trio of highly regarded entrepreneur-operators — James Currier, Stan Chudnovsky and Gigi Levy Weiss — who provide NFX companies with $120,000, along with 30 hours of programming, mentoring and investor introductions. NFX in turn gets 7 percent of their company. (If the company has already raised more than $750,000, NFX asks for 5 percent.)