Streamlined Ventures Newsletter
Dear Friends, Greetings from Streamlined Ventures! We are delighted to share a few significant updates since our last newsletter in May 2022.
We recently closed our third Opportunity Fund at approximately $40M on the heels of our new $102M Seed Fund (our fifth). This brings our total AUM to ~$330M across all funds. Thank you to our investors who have consistently supported us and to the founders who have allowed us to partner with them in their companies.
While many members of the Venture Capital industry dramatically slowed down their investment activity in 2022, we continued to invest, albeit in a more cautious manner. We expect the activity in the VC industry to pick up in 2023 relative to 2022. We will maintain our current investment pace for the foreseeable future depending on market conditions. In the next 12 months, we are expecting a robust time for software company M&A and are also hopeful that the IPO market will begin to show signs of life in the second half of 2023.
We are fortunate to have six portfolio companies that have reached sufficient critical mass to be able to access the public markets once they open up for IPOs. We are hopeful they will complete their IPOs in late 2023 and 2024 following the public listings of our portfolio companies, DoorDash, Applovin, Forge Global and Rigetti Computing in the last 24 months. Despite the bearish environment this year, we remain optimistic about the potential for significant value creation in the start-up ecosystem over the next decade.
We
thank you all for your continued support and friendship and look forward to seeing you in person soon.
- The Streamlined Ventures Team
New Opportunity Fund
We recently closed on our third Opportunity Fund at approximately $40M. Our Opportunity Funds allow us to continue to partner in the mid-stage financings of companies whose seed rounds we have led or co-led from our Seed Funds. From this fund, we have already made five investments in companies from our seed portfolio - Flip, RioGrande, Zero, Censia, and Fun.xyz.
New Seed Investments
We have been busy on the new investment front and have led or co-led 10 new initial seed investments from our fifth Seed Fund. Listed below are the companies with which we have recently partnered.
A financing platform and marketplace that provides non-dilutive financing for recurring revenue companies, starting with B2B SaaS.
A brokerage and crypto API solution for fintech platforms.
Provides a decentralized structure and scalable platform to deliver curated, consistent, and relevant AI data sets.
A platform that uses state-of-the-art AI models (such as GPT-3) to aggregate, analyze, and summarize customer feedback for product managers and sales professionals.
A next-generation crypto wallet.
A LatAm company that acts as a digital brokerage for commercial real estate spaces.
A customizable chat platform for web3 communities.
An operator of an online platform designed for selling, speculating and redeeming hotel stays as a new asset class.
A synthetic video solution that provides a video outreach tool for sales professionals.
A LatAm company that has built an eCommerce enablement platform for micro-size SMB businesses.
What’s new with our portfolio
A number of our portfolio companies have secured meaningful follow-on financing rounds recently. Below are some of the financings that have been publicly announced. Additionally, a handful of founders were prominently featured in top media lists.
Ratio bags $411M in equity, credit for flexible subscription payment model
Flip Closes $60 Million Series B Round at a $500M valuation
Viable raises $5M in funding round
Spot2 Raises $4.2M To Speed Up Commercial Real Estate Leasing In Mexico
PayStand was named in Inc.’s 5000 Fastest-growing companies for the third year in a row
Addepar was listed in the Forbes Fintech 50 List 2022
Analisa Goodin, founder of Catch&Release, was listed as one of the top 40 inspiring leaders
Catherine Dennig and Keji Xu, Fursure co-founders, were listed in the 2022 Forbes 30 under 30
Amanda Greenberg, founder of Balloon, is one of Inc.’s 2022 Female Founders 100 list
Streamlined in the News
TechCrunch interviewed Ullas Naik, Founder and General Partner of Streamlined Ventures regarding the close of our two recent funds.
Solo GP secures $140M for fifth seed fund and third opportunity fund
Streamlined Ventures Raises $140M, Eyes Web3 Opportunities in Gaming and DeFi
Wave Of Layoffs At Startups Foretell A Slow Summer For Venture Investing
