Dear friends of Streamlined Ventures, we hope you and your families are well and in good health. We are delighted to share with you that we have closed our fourth seed fund at approximately $55M. We are very thankful to our Limited Partners who have supported us over the past nine years and especially during these uncertain times. Closing this fund during a global pandemic caused us to pause and reflect back to when we started investing from our first fund in 2011. We have since raised four seed-stage funds in addition to an opportunity fund and expect to raise our next opportunity fund in the next six to nine months. Across these funds, we have invested in 151 companies to date. We have been fortunate to partner with extraordinary entrepreneurs who have built some of the world's leading startups, including DoorDash, AppLovin, Rappi, EasyPost, Bolt, Addepar, OpenGov, and TubiTV (acquired by Fox in Q2 2020 for ~$500M). We have been hard at work to ensure our portfolio companies are well-positioned despite COVID-19 headwinds. We are fortunate that most of them are in sectors that received tailwinds from the pandemic. A handful of entrepreneurs in sectors disadvantaged by COVID-19 had to make some hard decisions in order to find a way through the difficulty of the last six months. We are pleased to report that as of now, almost all of those companies are beginning to thrive again. We recently updated our website. When you have a moment, check it out! -The Streamlined Ventures Team Focus Areas for our Fourth Streamlined Ventures Seed FundWe lead or co-lead investments in seed-stage companies across most vertical markets. We invest in business or consumer software companies that use the following technologies to transform the dynamics of their markets: data science, component AI technologies, APIs, and software-enabled automation. New InvestmentsWe continue to make new investments and have been investing a bit faster than our regular cadence of about one new investment per month. We have made a total of nine new investments since our last newsletter in May. We believe this is an extraordinary time to invest in founders who are thinking creatively about disrupting various markets. We expect some very significant companies to emerge from this time period. Listed below are some of the companies with whom we have recently partnered. A few of our new investments are still in stealth and will be disclosed in our next newsletter. FlipFit is creating a social commerce experience that connects the digital and physical worlds. Findigs sells software to landlords that makes the cumbersome leasing application process instant, and enables digital payments for renters to pay online. Minded offers a better way to renew and refill mental health prescriptions. ZeroApp automates time-consuming tasks for lawyers, paralegals, and their teams. Range is a coordination software that helps teams stay in sync. Carupi is a managed marketplace based in Brazil for used cars and will be expanding soon to other LatAm countries such as Mexico and Colombia. Lendtable provides income-constrained individuals with wealth-building cash advances. What’s new with our portfolioA number of our companies have secured follow-on financings recently. Below are the financings that have been publicly announced. Doordash raised $400M bringing its valuation to $16B DoorDash is a technology company that connects customers with their favorite local and national businesses. Rappi has almost closed on a new $350M round Rappi is an on-demand delivery mobile app that allows users in Latin America to shop for groceries and other goods and send items through Rappi’s own delivery service. Bolt is building a better than Amazon checkout experience for the rest of the web, with zero fraud and payments built-in. Bunch is a lot like Discord, but with social networking for mobile games. Users who download the game can connect with friends and join an audio or video chat with them. Streamlined in the NewsOur General Partner, Ullas Naik was featured in an interview series, Startup Superhero, where he weighed in on best practices and most common mistakes of startup founders. This interview series was hosted by Tony Clemendor and included a variety of experts, including Tim Draper, Jerry Colonna, and Brad Feld. Watch Here Ullas spoke on a panel at the Startup & Investment Community Capital Expo discussing how COVID-19 is impacting venture funding. Watch Here The Angel Investor School interviewed Ullas on how to move from angel investor to institutional investor discussing the main differences. Watch Here |