In good company
Our portfolio with 44% IRR
Stage: Seed Thesis: Out-of-stocks and planogram compliance is a huge problem in brick-and-mortar retail, to which I have direct experience. Current solutions require awkward hardware like robots or countless shelf cameras, or leverage large scale manual labor with mobile phones. Neither has taken hold. Augmodo provides an elegant computer vision solution that is technically complex and automatically scans the store via associates with zero effort. They have active trials with the top 5 grocers. Founders have had direct tech experience with successful 9-digit exit to Niantic.
Stage: Series A Thesis: Underserved retail logistics for high-end auctions and collectibles, with low margin sensitivity and need for global delivery footprint. Strong founding team and initial customer base had huge room for expansion. Reasonable valuation with high upside. Status: 270% YoY rev growth.
Stage: Series A Thesis: Carro has an ambitious mission to be the universal product catalog for any eCommerce site, making any product from any site available for you to sell on yours - and checkout as if it were your own. Founders have a history of large, successful exits, and they showed 3x growth with the support of TikTok shops.
Stage: Seed Thesis: Software is eating the world and software productivity tools until recently have been mostly semantic verification, lacking context. Huge productivity increase are possible with greater contextual understanding of code base and structural best practices to auto-complete lines of code and reduce errors. Innovative approach. Strong technical founder. Status: Has raised follow on Series A from eVentures and Khosla and a Series B from Qualcomm Ventures, OurCrowd and Samsung NEXT Ventures at >10x value.
Stage: Seed Thesis: Health monitoring is laborious and manual. Huge market ripe for disruption. AI and computer vision detection algorithms require deep technology expertise in both hardware and software. Knew founder and his unique capabilities in solving the problem. Status: In FDA approval. Several strong pilots with very positive results.
Stage: Initial Seed Investment Thesis: Clear product value with easily proven ROI, very large procurement space, strong initial traction, enthusiastic founders. Active advisory allowed me to get closer to internals of business. Status: $65m raised from Stage 2, Rally and 534 Ventures at >16x value of investment.
Thesis: Strong founder with deep technical expertise, transformational approach, large target market, easy to understand value proposition (cost, productivity, quality). Status: $135m raised from Canaan Partners, Tiger at >30x value
Stage: Seed Thesis: I generally avoid ad tech, but this was compelling in their 400% YoY revenue growth, strong technical team, and an identified need of providing real scoring to viewability and audience attention of ads. It had strong traction for a Series A with high confidence at a premium to this seed bridge deal. Status: Raised follow on Series A within 3 months at a 72% premium
Stage: Seed Thesis: Packsmith is the AirBNB type of crazy idea that might turn out to be something big. They leverage gig workers to create a hyper-distributed network for eCommerce delivery for SMB and MidMarket brands, allowing them to compete with 2-day delivery with surprisingly good economics. Brands that use them have shifted entire logistics to them and I invested along A-list investors like Bessemer, Interplay and M13. They have doubled revenues QoQ since investment.
Stage: Seed Thesis: Reduced friction in fin service connectivity and Tik Tok as a customer acquisition vehicle have created a window to build a brand for younger consumers to invest responsibly. Grifin is capturing younger, female investors, an untapped market. Seeing exceptional CPAs and was close to a following funding. Status: Follow on funding from TTV Capital.
Stage: Pre-Seed Thesis: Founder with deep experience in PR industry whom I’ve had a strong working relationship and ability to add value on advisory board. PR is a sizable industry with minimal tooling and data. Had personal insights into technology transforming the space and large funding in motion like Muckrack. Status: Has raised follow on money at >2x valuation
Stage: Pre-Seed, First Check Thesis: Although D2C is not my usual investment sector, this was the best founder intro meeting I’ve had as a lead mentor at ERA, with excellent industry experience, market research, proven CaC dynamics, and a large market. Status: Raised $7m Seed within 12 months at >5x valuation from Obvious Ventures, Carmelo Anthony and Serena Williams.
Stage: Seed Thesis: Networked GPS systems have inherent energy flaws. Low power peer-to-peer networks of location open up new applications. Underlying IP is valuable across a broad range of industrial applications Status: Raised $6m Series A from ffVentures, Chetrit, Sony Innovation Fund
Stage: Seed Thesis: Regulated three-tiered alcohol industry has prevented beverage brands from establishing direct relationships with customers. Requires disruptive distribution and technology. Other competitors working on marketplaces that don’t give brands first-party data. Value to network building and data targeting. Status: Raised $7m Series A from Queens Court Capital within 6 months at >30% premium.
Stage: Seed Thesis: IoT intelligence will be widely deployed to increase the efficiency of logistics and supply chain, but brands don’t have access to data without their own devices in specific convenience categories (beverage, etc.). Technical founders with deep team and good initial traction. Status: Raised follow on capital and 6x the seed round.
Stage: Seed Thesis: Strong technical founder inheriting IP assets for more performant storage systems for large data applicaitons, which are increasing rapidly. Status: Running profitably.
Stage: Pre-Seed Thesis: I was part of the founding team, large market in SaaS / Martech, clear understanding of the market and oppotunity. Status: Successful exit to Blackstone at >10x return
Stage: Seed Thesis: Joined the team so confident as CEO, large market, SaaS / MarTech, strong customer base Status: Acquired by Raydiant
Stage: Initial Seed Investment Thesis: Strong founder with successful exit, voice space exploding, easily understood problem space and solution. Status: Acquired by Adobe in 12 months for a considerable 2.5x return.
Stage: Pre-seed Thesis: 89% of B2B companies are unhappy with their competitive intelligence. Incubating a new GenAI and NLP-based approach to monitoring B2B competitive intelligence that can be delivered for less than $200/mo, opening up approval-free purchase for most of the 100,000s of product and marketing managers.