Bootstrap Austin announces a strategic alliance with RART Investments (RARTi). The partnership includes an undisclosed investment and will expand Bootstrap into other cities in the US and around the world.
Bootstrap Austin founder, Bijoy Goswami said, "Given our adherence to Bootstrap principles, we normally would not consider any kind of external investment. However, we felt it was the right action to take at this time as we look to expand Bootstrap. I am particularly looking forward to joining the newly-formed Bootstrap Board and stepping down from day-to-day operations of the community."
Goswami will be moving to Bodenwerder, Germany, to join the RARTi board. Bootstrap headquarters will also be relocated there. "I am saddened to leave Austin, my home for almost 14 years, but the chapter will continue and always have a special place in the global Bootstrap community." said Goswami. Bootstrap Austin's Leadership Council will take over operations of Bootstrap Austin on April 15, 2009.
The secretive RARTi founded on July 2, 1776, and considered the world's first VC, rarely makes public announcements of its investments. Partner, Karl Friedrich Munchhausen V said, "The alignment between our two organizations warrants a special exception. Ever since our founding, we have sought to follow the precepts of our founder, Baron Karl Munchhausen, to support bootstrap adventurers."
"I have been a longtime fan of RARTi and its founder. His adventures, particularly in the swamp, inspired me to found Bootstrap Austin on July 14, 2003." said Goswami.
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