So, that just happened. Former Formation8 founder, Joe Lonsdale, has added Hollywood actor Tobey Maguire to his new $50m seed fund - Eight Partners Fund 1, . Even the entertainment world has decided to tap into the fintech space, with investors such as Jared Letto putting his bet on savings app Robinhood. As the fund is intended to invest in government, health care, real estate and finance, it's unclear how Maguire's advisory would be an advantage, perhaps it's more about bringing interesting money to the table and not just "smart money".
In its theatrical pitch to investors, Eight Partners Fund 1 signals that its Tinseltown connections may end up playing a bit role in an epic cast of entrepreneurs, execs and investors across multiple industries. “There is a fundamental misconception that seed investing is about finding needles in haystacks,” according to the presentation. “The best early-stage opportunities are controlled by an exclusive network of angels and entrepreneurs, a network where [Eight Partners] is uniquely positioned.”