Today our long time friend and adviser Jeff Clavier announced his big news that he has opened a $12 million early stage venture fund, SoftTech VC II. Jeff, along with Ron Conway,Josh Kopleman, Fred Wilson and Brad Feld are going to go down as the first investors ready to meet the demand of the entrepreneurs of the 00’s. Hype-speakers would say “the people that fueled Web2.0.”

Historically early stage investors were friends, family, visa cards, and Angel Investors. All great things to have, but few of which can give the guidance and contacts institutional investors can offer. Jeff will be known as one of the first to fill the gap of providing not just money, but the ever elusive smart money, which has been so hard for rational entrepreneurs to partner up with.

He intends to invest in 30 to 40 companies over the next three years. A decade ago $12M would hardly be enough to invest in three companies, and even today, aside from the names mentioned above, it’s a heck of a lot easier to raise $3M from smart money than it is $500k, even though very few early stage these companies need even $1M.

So congrats to Jeff, keep up the good work.

Photo by Scott Beale