Shawn Xu, former senior associate at venture capital firm Floodgate, has joined US-based talent network On Deck as a founding partner at ODX, its new $150m venture capital fund and accelerator.
On Deck Fund (ODF) is a pre-accelerator focused on startup ideation to help entrepreneurs decide what to build. It has produced 800-plus companies in the past 24 months collectively valued at more than $7bn.
ODX invests $125,000 in companies in return for a 7% stake. It has so far evaluated more than 7,000 companies and signed term sheets with at least 110 companies from its inaugural ODX1 batch.
Xu said: “As a partner, I am super excited to make a public commitment here to invest globally, especially in emerging markets. The ability to build a startup breakthrough is not constrained by geography, particularly now that we live in a remote-first world.
“For me, this is a full circle return to what I consider my life’s work, after studying international affairs at the University of Pennsylvania – The Lauder Institute and spearheading international expansion at (financial technology producer) Square.”
After working at Square, Xu interned at VC firm Bessemer Venture Partners before becoming managing partner at Dorm Room Fund targeting university spinouts, and then joining Floodgate in mid-2019.
Photo of Shawn Xu courtesy of LinkedIn.
