– Joanna Glasner is a contributor for PE Hub, a Thomson Reuters publication. This article originally appeared here. –

Menlo Ventures’ newest managing director, Shervin Pishevar, is getting off to a fast start.

The serial entrepreneur turned Internet VC announced that his firm has formed a new early stage investment vehicle, the Menlo Talent Fund, which will fund rounds up to $250,000 in promising startups. As part of the effort, Pishevar told attendees at San Francisco’s TechCrunch Disrupt conference this week, the firm will be forming a “Jedi Council of incredible entrepreneurs,” known as the Menlo Founders Council, to work with startups.

The $20 million fund is all about quick action. Menlo said it will make investment decisions on startups within 72 hours. However, Menlo partners will not take board seats on any companies funded by Menlo Talent Fund.

The fund was financed last October with the closing of Menlo Ventures XI. It has already invested in eight companies, including: The Backplane, CakeHealth, Comprehend, LeanLaunchLab, Parse and Tracksby. Two companies are yet to be announced.