Launch House, an entrepreneur membership community, completes $12 million in Series A financing, led by a16z

Golden Finance reported that Launch House, an entrepreneur membership community, announced the completion of a $12 million Series A financing, led by a16z. Other investors in this round of financing include Creative Arts Agency co-founder Michael Ovitz, 6th Man Ventures investor and founder of The Block Mike Dudas, Ryan Sean Adams, co-host of the crypto podcast Bankless, and more. Launch House is an improved version of the hacker house, a community of entrepreneurs in Silicon Valley, where aspiring entrepreneurs apply for one of the month-long “residency programs” on topics such as “Web 3,” “Metaverse,” or “Female Founders.” After passing, entrepreneurs are invited to live in trendy homes in New York City or Los Angeles, and Launch House also supports interaction through virtual groups in the virtual space Gather. Andrew Chen, general partner at a16z, cited remote work, the rise of Gen Z, and new trends in startup fundraising as factors driving Launch House into “the third space of the new distributed Silicon Valley.” (coindesk)