YouTube Founder Spending His Money on Startups

The third and oft-forgotten YouTube co-founder, Jawed Karim, is launching an investment fund along with Eventbrite’s Kevin Hartz and Slide’s Keith Rabois, peHUB reports. The three, all members of the PayPal mafia (that is, people who used to be involved in PayPal and now cross-pollinate each other’s Internet startups), are calling themselves Youniversity Ventures. I notice now that this had actually been included in a broader Fortune story last year, but it doesn’t seem like many people picked up on it.

Youniversity Ventures says it provides “mentorship, expertise, contacts, and access to capital,” but peHUB notes it has not formerly registered itself as an investment group. The team says they will focus on current students at Stanford (where Karim still attends graduate school) and University of Illinois at Urbana-Champaign. They have been holding open office hours at Stanford.

Karim, despite leaving YouTube early on, made some $65 million on the company’s sale to Google. His partners are no slouches, with exits enough to fund limited partnerships at Sequoia Capital. Rabois’s bio brags he “is the only person who owns equity in every VC-financed consumer Internet company founded by former PayPal employees.” The three have already invested in prediction marketplace BluBet together.