Global Accelerator Network (GAN), a US-headquartered association of accelerators located around the world, is planning to raise a $10m venture capital fund, a securities filing has revealed.
Founded in 2010, GAN operates a network of more than 70 accelerators across 106 cities on six continents, providing $25,000 in seed funding in return for a 10% stake. To date, more than 3,300 startups have graduated from a program offered by GAN’s members and have collectively raised a total of more than $4bn.
In April 2016, GAN helped set up Partner Network, a group made up of 15 corporates that meets twice a year to discuss best practices to support the startup ecosystem.
The network includes IBM, Comcast, Mastercard,Amazon’s cloud computing subsidiary Amazon Web Services, General Assembly, Cisco, Microsoft, Keen.io, Neustar, Hubspot, Sendgrid, Shopify, Zayo, Solidworks and WeWork.