About the Lang Entrepreneurial Initiative Fund
Established in 1996 with a $1 million gift from Eugene M. Lang, MS '40, the Eugene M. Lang Entrepreneurial Initiative Fund ("The Lang Fund") fosters an entrepreneurial environment at Columbia Business School by providing early-stage investing opportunities to qualifying student and alumni ventures. It also allows the School to share in the success of funded ventures through negotiated equity or other participation.
Learn about our past Lang Fund recipients.
Spring Cycle: For Graduating Students
Eligibility & Requirements
The Lang Fund is looking for CBS student-founded ventures that fit the following criteria:
- Traction: Applications are accepted from ventures of all stages, though preference may be given to companies that have shown initial traction and/or other types of market validation.
- Team: At least one member of the founding team must be a second-year Columbia Business School student who has graduated or will be graduating in the current academic year. Founding team members must intend to work on their ventures full-time after graduation.
- Other: Founders must complete the application highlighting their venture’s accomplishments and their intent to work on the venture full-time. The application must include a pitch deck with a minimum of five slides of content. We are geographically- and sector- agnostic.
Applications open in mid-January.
Fall Cycle: For All Columbia Business School Alumni
Applications for the Eugene M. Lang Entrepreneurial Initiative Fund ("The Lang Fund") are now open for early-stage, CBS alumni-founded startups. Winning companies typically receive $50k-$100k investments.
Please note that the main applicant and primary contact must be a founder/co-founder, and a Columbia Business School degree holding alum.
Eligibility & Requirements
The Lang Fund is looking for ventures that fit the following criteria:
- Traction: Ideally post-revenue companies with at least 6 months of customer data (exceptions can be made)
- Team: At least one member of the founding team must be a degree holding CBS alum (MBA, EMBA, and MS graduates from CBS are eligible. Sorry, Executive Education participants and certificate holders are not eligible). The founding team must be working full-time on their venture or be actively working toward a full-time commitment
- Stage: We look for early-stage companies raising or looking to raise capital within the next 12 months. Typically, we invest in companies raising between $500k and $3M, though ventures in all stages are welcome to apply during this cycle.
- Other: We are geographically- and sector- agnostic.
Applications open in mid-August.
Conditions of Investment
Lang Fund winners are typically awarded a $50k-$100k commitment to invest, to be executed within one year as part of an existing capital fundraise. The format of the investment is to be on the exact same terms as existing investors in the same round, commonly taking the form a SAFE, convertible note, or preferred stock investment, subject to an additional side-letter addressing Columbia-specific program requirements. The full investment criteria is outlined below:
- Funds must be raised within one year of being awarded Lang Fund investment as part of a capital raise from institutional and/or accredited angel investors
- The term sheet agreed to by the lead investor(s) must be priced or have a valuation cap set - we do not invest on uncapped notes
- The company must be raising at least $500k, with at least half of the round hard circled
The Lang Fund Board retains sole discretion for deciding which businesses it will fund each year and may decide in a given year to forgo the funding of any projects if none of the ventures presented meet its investment criteria.
Questions? Contact [email protected].