Baltimore-Md.-based Inner Loop Capital is giving D.C.-area startups a financial boost with this new fund.

The early-stage venture capital firm announced a $2.6 million Syndicate Fund on June 14, aimed at supporting startups in the D.C. region who are in the early stage of fundraising. The fund was founded by Justin Label, an angel investor and former partner at Bessemer Venture Partners. The Syndicate Fund plans to make approximately eight investments over 18 months, with initial investments ranging from $300,000 to $400,000 each.

“The challenges of raising early capital in the D.C. region are frustrating to local founders and inhibit the growth of our venture and tech ecosystem,” Label said in a press release. “We want this Syndicate Fund, raised from investors who see this opportunity, to be a step toward addressing that gap.”

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