Minting new accelerators
The team behind Better Tomorrow Ventures saw some of its biggest wins before the firm even existed — back when the founding duo was backing pre-seed companies at 500. Now, founding partners Sheel Mohnot and Jake Gibson are launching an accelerator of their own.
Here’s what to know: The Mint will be a three-month accelerator, based out of San Francisco, that cuts $500,000 checks in exchange for 10% equity in between six to 10 startups. The initial cohort, which starts this upcoming August, already accepted one company, and sent a second acceptance letter out today.
Better Tomorrow seems to be stepping in where it believes Y Combinator is lacking. “YC is built for scale. The advice is a lot like one-size-fits-all,” Mohnot said. “We felt like with fintech, there are so many things that are unique about building that it makes sense to have something distinct.”