Two former 500 Startups partners, Elizabeth Yin and Eric Bahn, are raising up to $50 million for a new venture capital effort called Hustle Fund, according to an SEC filing. A source tells Axios that the fund will back pre-seed startups.
Backstory: Yin and Bahn left 500 Startups earlier this summer after several women accused founder Dave McClure of sexual harassment (he also resigned from the organization). Prior to 500 Startups, both founded startups and worked at Google and Facebook, respectively. Hustle Fund declined to comment.