Pre-seed and seed companies have a new bucket of capital to go after today. Twelve Below (@twelve_below), a New York-based venture capital firm, closed on $108 million in capital commitments. Taylor Greene and Byron Ling started Twelve Below in 2021 after previous careers at Collaborative Fund and Lerer Hippeau for Greene, and Canaan and Primary Venture Partners for Ling. However, the pair have known each other and worked on deals together for a decade, including investments into Mirror, Papa and K Health. Greene and Ling told TechCrunch their philosophy is reminiscent of the "old ways of venture capital." They say it's about trust — keep your fund size small, high conviction, high ownership and make a low number of investments. "Our mentors told us that this kind of old-school approach will drive great returns," Greene said. "We started with a blank piece of paper, designing the firm around that mentality based on relationships and trust with entrepreneurs." Twelve Below aims to lead or co-lead pre-seed and seed financings with the goal of earning a 10% to 15% ownership stake in the core investments from the fund. The firm invests in New York City-based startups in the areas of fintech, healthcare, energy, SMB and consumer sectors. Its first fund was $50 million, and the portfolio includes Accrue Savings, Odyssey Energy, Croissant, Campus and Truehold. Greene and Ling tout that more than 60% of their portfolio has already gone on to raise follow-on capital. Greene and Ling say their big differentiator is their focus on trust. They also don't have a platform team, so the founders work directly with them. Read the full article on techcrunch.com Subscribe to our newsletter to stay updated with future events and get involved with the community (link in bio)! Image Source: Twelve Below

I feel fortunate to be managing two businesses simultaneously, both within the same industry: Dedicated and welovefounders.   We launched Dedicated in 2019, co-founded by my beloved brother and partner, Martin, among others. Dedicated is a club deal venture capital fund that invests in both primary and secondary shares of companies globally, from series A to pre-IPO. This journey has been exhilarating, and we are proud of our achievements: a great team, exceptional private investors, and approximately €40M invested in numerous successful ventures. We are thrilled to have supported remarkable entrepreneurs on their funding journeys, highlighting the disadvantage of having hundreds of small investors on your cap table from management and governance perspectives. Instead, consolidating them into SPVs has proved to be a more valuable approach.   My experiences at Dedicated have made me aware of some pitfalls that entrepreneurs often encounter. To address these challenges, we launched WeLoveFounders last summer with Olivier Mertens, Antoine Duchateau, and Thomas Goubau. WeLoveFounders is a fund created by entrepreneurs for entrepreneurs who have launched several companies. For instance, Antoine expanded his fintech business to €70M in ARR, and Thomas grew LetsBuild to 6M ARR.   What is our mission? We aim to fund 15 to 20 companies developing B2B tech solutions by leading their first funding rounds, with investments ranging from €500K to €1M. How do we stand out from the VC crowd? While I won't divulge too much, our distinct approach is encapsulated in our name: we love founders. We prioritize their needs, pay attention to their dilution, ensure they avoid the pitfalls we encountered in our own ventures, provide them with playbooks crafted by our operating partner, Thomas, and, most importantly, offer great human support. Of course, our goal is to fund centaurs, unicorns or whatever they call it nowadays. But we also know that not all of you will become these massive successes. And we have a plan for you as well, almost as exciting as the fast-track plan 😈   If you're considering starting a project, or if you've already launched and are seeking a growth partner, visit our website, connect with us on LinkedIn, or even send a homing pigeon to our offices in Brussels or Paris. Whatever your method, we're here to listen.   In the upcoming weeks, I plan to kick off a series of blog posts covering topics such as venture capital funds (including fundraising and operations), startup metrics, funding rounds, the legal nuances of fundraising, etc. If there are other subjects you're interested in or if you have suggestions for additional posts, let me know 💪🏼 #seedfunding #boldfounders #venturecapital

📈The Rise of Angel Investing (& Syndicates) Over the past decade or so, the landscape of venture capital has witnessed a significant transformation with the rise of syndicates and angel investing. Originally, VC's were the primary vehicles through which investors deployed capital & resources to support startups. The rise of angles and syndicates marks a departure from conventional models, opening new avenues for both seasoned and novice investors to engage in the exciting and high-risk world of early-stage investments. This week Last Money In (link to full post in comments) discusses some of the key factors that led to this shift, including: -The Rise of Angel Investing -The Regulatory Advancements -The Emergence of Angel/Investment Platforms For this post, we'll discuss some of the reasons angel investing has gained popularity in recent years: 1) Increased Access to Startups The internet & platforms have democratized access to information allowing angels to learn more about startups, research their business, customers, team, and funding etc. 2) Being an Entrepreneur has become way cooler In today's business landscape, founders like Mark Zuckerberg & Elon Musk are treated like celebrities across media and culture. This superstar status add to the "cool factor" surrounding both entrepreneurship and VC. This is partially responsible for the massive shift of an increasing # of ambitious & talented individuals, who previously may have pursued careers in finance or consulting, now aspiring to become entrepreneurs and start companies. 3) Angel Networks Over the past decade many different angel networks have evolved. They act as a way for groups of angels to combine deal flow, access, and expertise and work together to explore investing in companies and both a group and individuals. This has certainly attracted more angel investors into the ecosystem. 4) Wealth Creation in the Tech Sector Many successful founders/early-stage employees had major life events upon an IPO or acquisition that created wealth. They now have capital to invest back into the startup ecosystem & industry knowledge to include. These have become highly sought after people for early-stage founders to bring onto their cap table. i.e. Martin Tobias → made a bunch of $$ at Microsoft in the 90’s which led him to angel investing, and then syndicates. 5) Trends in Venture Capital Venture capital has built a glamor & appeal among both investors and participants across startup ecosystems recently. The rapid growth of high-profile unicorns, cases of extraordinary returns earned by VC's, have attracted growing interest in private companies. This movement has opened up a funding gap at the earliest stages of the startup journey. Angel investors have invested more personal capital to fill this void by writing smaller checks than traditional VC counterparts. Angels are providing founders with the first outside financing often necessary to get off the ground.

Front Porch Partners Successfully Raises Fund II🌟 💰Front Porch Venture Partners, a prominent Triangle-based venture capital firm, has made significant waves with the successful closure of its second fund, amassing an impressive $20 million. Founded in 2019, Front Porch is now poised to inject fresh capital into burgeoning startups across the Southeastern states, signaling a promising boon for regional innovation and entrepreneurship. 🌱💼 💡"This substantial fund, quadrupling the size of its inaugural pilot fund, marks a pivotal moment for the Triangle's startup ecosystem," says Nikin Shah, General Partner at Front Porch. "In a landscape where local investment faced challenges, Front Porch's bolstered financial firepower injects vitality into the region's entrepreneurial spirit." 💥📈 🔎Front Porch's investment strategy encompasses a dual focus: allocating funds to other venture capital firms (like Durham-based IDEA Fund Partners and Hatteras Venture Partners) as well as individual startups. "Our goal is to nurture around 25 promising companies and empower emerging ventures to thrive," adds Shah. 💡💰 📝Notable beneficiaries of Front Porch's initial fund include innovative ventures like CureMint, Inc.®, VitalFlo, and Klearly, underscoring the firm's commitment to fostering diverse, high-potential enterprises within its ecosystem. 🚀🌟 🌪Against the backdrop of a venture capital industry navigating unprecedented challenges, Shah reflects on the tumultuous year of 2023 as a "hard reset," echoing sentiments shared across the entrepreneurial landscape. Despite the setbacks, Shah remains cautiously optimistic, pointing to signs of recovery as leading firms conclude fundraising efforts and a resurgence of capital inflows. 📉📈 🕯As Front Porch Venture Partners embarks on this transformative journey with its expanded fund, the firm's proactive approach and strategic investments promise to invigorate the Southeast's startup ecosystem. With a keen eye on emerging opportunities and a steadfast commitment to driving innovation, Front Porch is poised to play a pivotal role in shaping the future of regional entrepreneurship. 🔍🚀 Congratulations to the Front Porch Venture Partners' new fund!👏👏👏 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE   #FrontPorchVenture #StartupInvestment #VentureCapital #Entrepreneurship #SoutheastStartups #RegionalInnovation #InvestmentStrategy #EconomicRevival #TechEcosystem #FinancialGrowth

A wrap on the first year of Fireroad Ventures perspective: "We end 2023 with spirits of gratitude and humility. To be trusted by each other, LPs, partners, and founders is no small thing. To be in the first days of building Fireroad Ventures, alongside founders who are in *their* earliest days is no small thing. Endeavoring to raise our first fund in an environment unfriendly to emerging VC managers is no insignificant thing. But, the same thing that is true for entrepreneurs is true for us today: who we are becoming matters alongside that which we are building. We have grown in patience, perseverance, and trust. We have stopped to celebrate with one another and our community. We have challenged each other to be clear, courageous, and disciplined. Heading into 2024, we’re grateful for the partnership and community that has helped bring Fireroad to life over the past year and those who have been part of the prequel seasons. We wouldn’t be here without each step along the way." Tim Metzner and Ry Walker, Jonathan R., Jared Warner and Brad Felix, CFA ... let's keep going ... And of course, if you’d like to be part of the work of Fireroad Ventures, we are working with accredited individual, institutional, and impact investors to raise Fund I, an inception-stage venture fund. We make investments into technology companies that are led by purposeful founders, and are committed to their flourishing as leaders. We invest to bring the economic and innovation benefits of venture capital to our region for generations to come."

Excited to announce Hem Suri, Founder & Managing Partner of Spark Growth Ventures, as our next speaker for TechCon SoCal 2024! Join us as Hem delves into the world of investment, sharing his expertise in democratizing access to venture capital and fostering community-driven growth. Hem currently serves as the Founder & Managing Partner of Spark Growth Ventures – a San Diego-based sector agnostic global tech VC firm focusing on series A-D startups. Through SGV, Hem is democratizing access to the asset class for all accredited investors using a community-oriented model. In less than four years, just through word-of-mouth and performance-led growth, SGV has grown to ~1,400 community members across six continents, 25 portfolio companies across three continents and an equivalent of a ~$50M evergreen fund with ~$45M in deployed AUM. Hem's work has earned him several recent recognitions, including as the Top 25 Founder’s Choice VC in 2023, an Emerging 50 VC in 2022 and as San Diego’s 500 Most Influential People in 2021. Outside of SGV, Hem also serves as a Venture Partner with NextGen Venture Partners, and was previously the Co-Founder and Managing Partner of ClearVision Equity Partners, a 2x Interim CEO of emerging companies, an executive of a KKR Private Equity portfolio company, an investment banker on Wall Street as well as a functional leader in multiple Fortune 500 companies in the US. Hem has served on 20+ startup and social enterprise boards and is heavily involved with several prominent incubators and accelerators in Southern California. He has executed ~75 VC, PE and M&A transactions with over $2B in total capital spanning 15 years across various platforms. Hem has an M.B.A. from Harvard Business School, an M.S. in Industrial Engineering from University of Illinois and a B.Tech. in Mechanical Engineering from Indian Institute of Technology, Delhi. He is passionate about the environment and education for underprivileged children, and loves reading, traveling and active pursuits. Get ready to glean insights from his diverse and rich experience at TechCon SoCal 2024! 💡 Register at https://lnkd.in/geymv2j Pankaj Kedia Serhat Pala Neal Bloom David Saxton Cheryl K Goodman Ellen M. Chang Niraj Desai Akash Pai Sufyan Subzwari Sufyan Subzwari Jonah Peake 🐺 Ella Napata Stephen Silver Fred Grier Scott #TechconSoCal2024 #IndustryExperts #TechConference #InnovationSummit #TechTalks #startupsteroid #innovations #technologynews #networking #artificialintelligence #digitalhealth #robotics #startups #AngelInvestors #vc #SandDiegoStartup #founders #consumertech OPEN Silicon Valley TIE San Diego Interlock Capital Orange County OC Startup Council The Brink SBDC EvoNexus UC San Diego SDSU College of Sciences Pismo Ventures Cross Ocean Ventures Startup Steroid - Deal Flow & Investor Engagement Platform Alliance for Southern California Innovation Spark Growth Ventures SoCal Startup Day Reflect Ventures Wharton Alumni Angels NuFund Venture Group

🚀 Exciting News from Rosberg Ventures! Nico Rosberg, former Formula 1 World Champion and sustainability entrepreneur, has launched a groundbreaking new €70 million+ Fund of Funds with his firm, Rosberg Ventures. This strategic initiative is designed to bolster German and European participation in top-tier global venture capital efforts, bridging the significant investment gap with the United States. 🌍 Global Impact Investment Focus: Investing in Tier 1 VC funds globally Target: Ultra-High-Net-Worth families in Germany and Europe Goal: Foster symbiotic relationships between innovative startups and large corporates 💡 Why It Matters Despite Europe's substantial wealth, its stake in global venture capital is notably low, with investments trailing far behind those in the U.S. (€188 billion to €77 billion). Rosberg Ventures aims to transform this landscape by facilitating easier access to premier VC funds, enhancing global startup innovation and strategic capital investment. 📈 Strategic Growth "Our mission has always been to empower global startup innovation and create value through strategic capital investment. With this new $75 million fund, we are creating a platform for growth and transformation for both startups and established corporates," says Nico Rosberg. Rosberg Ventures has quickly moved to establish its second fund after launching its inaugural fund a year ago, achieving a first close at €30 million. The new fund is uniquely positioned to indirectly invest in over 2000 transformative startups across AI, Health Tech, Blockchain, Robotics, Fintech, and Consumer technology sectors. 📊 Join the Movement Stay tuned as we continue to drive innovation and transformation in the venture capital space. For more info, visit : https://shorturl.at/lFOZ0 #RosbergVentures #VentureCapital #Innovation #StartupGrowth #SustainabilityInvesting

The new "breed" of venture capitalists are here - micro VCs. Some quick stats before we dive in: 🔶 the number of micro VCs has risen by 120% 🔶 around 58% of micro VCs are located in the US 🔶 in 2022, 70% of investments by micro VCs went into backing seed and early-stage startups ⚫ Unicorns funded by micro VCs: → Lyft - K9 Ventures → Robinhood - Elefund  → Coinbase - Initialized Capital (which was investing out of a $7 million fund at the time) → Flexport - Anorak Ventures ⚫ Why are micro VCs on the rise? ♦ the rise of entrepreneurship and the growing number of startups have increased the demand for early-stage funding ♦ technology is advancing at a rapid pace, which has lowered the barrier to entry for building a tech company ♦ a better regulatory environment ♦ with a lower capital threshold, more people can jump into the venture capital game through micro VCs ♦ higher risk tolerance ♦ while big VC firms might be tied up in red tape, micro VCs can pivot quickly 🟠 Why are founders choosing micro VC firms? 🔶 they make decisions quickly and they have lower overhead costs compared to traditional VCs 🔶 tend to be highly involved with portfolio companies 🔶 majority of active micro-VCs are founded by experienced founders from startups as well as former VC experts. This means they can provide assistance, guidance, and networking. ⚫ 3 key market trends for micro VCs: 1. An increasing emphasis on diversity and conclusion 2. Impact investing 3. The rise of remote investing 🟠 What factors do micro VC funds consider before investing? → Funding stage → Conditional funding → Sector → Number of deals → Deal size ⚫ Key players in the global micro VC market: Data sourced via Eqvista. ♦ Fund Size – $0-25M ♦ 212 Capital Partners LP | Florida | Multi Sector +55 Ventures | SF/NY | Multi-sector 645 Ventures | NY | Multi-sector Arnold Capital | SF | Multi-sector Array Ventures | SF | Enterprise Base Ventures | SF | Multi-sector Bassin Ventures | SF | Mobile Dundee Venture Capital | Ne | Multi-sector Female Founders Fund | NY | Multi-sector Indicator Ventures | Boston | Multi-sector Notation Capital | NY | Multi-sector TenOneTen Ventures | LA | Multi-sector Tomorrow Ventures | SF | Multi-sector ♦ Fund size: $25M-$50M ♦ Amplify Partners | SF | Enterprise Aperture Ventures LLC | NY | Healthcare Deep Fork Capital | SF/NY | Multi-sector Draper Associates | SF | Multi-sector Frost Venture | LA | Multi-sector High Line Venture Partners GP LLC | NY | Multi-sector Hoxton Ventures | UK | Multi-sector Initialized Capital | NY | Multi-sector See the full list in my article on the rise of micro VCs. ➡ https://bitly.ws/3azRY Hope you enjoyed this breakdown! ⚜⚜ ⚜ ⚜ ⚜ PS: If you're new here, I'm Ivelina aka "startup girl", content lead at doola and VC writer at GoingVC. Follow me for weekly startup highlights and some marketing hacks. #startups #venturecapital #funding

The landscape for minority-led VC funds is evolving! However, the numbers tell a different story... A meager 1% of VC-backed entrepreneurs are African American, and the representation within the VC industry isn't much brighter. According to a recent NVCA study, only 3% of the venture workforce is Black, in contrast to the dominant majority of white males. Yet, hope is on the horizon. A burgeoning group of venture trailblazers recognizes the immense value and untapped potential of minority founders. Here are 10 standout Black VCs leading the charge, each at the helm of funds exceeding $100M: - Adeyemi Ajao - with a track record as a successful serial VC-backed entrepreneur, Ade co-founded Base10 in 2018 with TJ Nahigan. The fund is the first Black-led VC firm to manage over $1 billion in assets. - Marlon C. Nichols - a seasoned venture capitalist. Founder of Cross Culture Ventures and previously Investment Director at Intel Capital he has turned his expert hand to MaC Venture Capital. - Ollen Douglass - a Managing Partner at Motley Fool Ventures. Launched in 2018, Motley Fool Ventures invests in early-stage companies with an average check size of between $500,000 and $2M. - Brian Dixon - Brian Dixon started out as an intern at Kapor Capital and is a now Managing Partner at the Oakland-based venture capital firm. The firm raised $126m in September to invest in pre-seed, seed-stage, and Series A startups. - Aaron Holiday - Co-Founder and Managing Partner of 645 Ventures. Holiday, a Morehouse Computer Science grad, co-founded 645 Ventures 9 years ago with Nnamdi Okike. - Kanyi Maqubela - Maqubela co-founded Kindred Ventures in 2014 with Steve Jang. The fund is notable for its refusal to zero in on any one sector of tech entrepreneurship. - Paul Judge - Managing partner at Panoramic Ventures. Serial founder Dr. Paul Judge has over 60 investments to his name, making him one of Atlanta’s most successful serial tech entrepreneurs. - Henri Pierre-Jacques - Harlem Capital’s Co-Founder and Managing Partner Henri Pierre-Jacques holds an MBA from Harvard Business School. With 24 investment leads to his name and experience on 7 boards, he co-founded Harlem Capital with the ambitious aim of changing the face of entrepreneurship. - Charles Hudson - has nearly two decades of business management experience in the tech and virtual sphere. In 2015 he founded Precursor Ventures on the simple premise: that all entrepreneurs, regardless of background, benefit from having an institutional investor to help them scale. - Don Thompson - Former McDonald’s Corporation CEO and President Don Thompson founded venture capital fund Cleveland Avenue in 2015. An electrical engineer by trade, Thompson has one of the most impressive career trajectories in corporate America. Check out the full report by UrbanGeekz below: https://lnkd.in/gMyfb59i #startups #ventureCapital #innovation