That was the start of meVC, which in June launched its $330 million meVC Draper Fisher Jurvetson Fund 1, taking stakes in such start-ups as Internet telephony player Pagoo and e-commerce firm Auctionwatch. Much like shares in a regular, closed-end mutual fund, meVC shares trade on the New York Stock Exchange (symbol: MVC). Unfortunately, because of this year's groggy market, meVC shares closed at $12.88 last week, down 36% from their initial price of $20. Since VC bets are notoriously risky, many critics think small-time investors shouldn't be fooling around with this business. Freudenthal counters that as long as you're betting only a small portion of your portfolio, 2% to 4%, "a professionally managed, diversified venture-capital fund is less risky than any single nasdaq stock." And now, for the first time, it's a risk anyone can take.

1 | 2
Name: Peter Freudenthal
Age: 37
Why critics are taking note: Freudenthal aimed to democratize venture capital — and now anyone can take the risk
meVC

THIS MONTH'S INNOVATORS







Will the 21st century produce more important innovations than the last? Who will be the top inventors? Tell us if you agree with TIME's choices.


Which of the following breakthroughs do you think will come first?

The ability to clone humans
A cure for cancer
Extending the average life past 100
Other
Do you know the next Einstein? Is your neighbor working on the next great health breakthrough? If so, e-mail us the name of your nominee, explaining in 50 words or less why we should choose him or her.

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About the Series

PHOTOS: Amy Domini by STEVE LISS FOR TIME,
Peter Freudenthal Photo Courtesy of meVC,
Jean-Pierre Gloton by SERGE PICARD/VU,
Richmond McCoy by JONATHAN SAUNDERS FOR TIME,
David Pullman by MICHAEL GRECCO FOR TIME,
Gerald Putnam photo illustration by AARON GOODMAN FOR TIME
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