Dear friends, greetings from Streamlined Ventures! We are delighted to share a few significant updates from our firm since our last newsletter in April 2021.
We have seen significant liquidity across our funds over the last eighteen months. We are excited to announce that as we head towards the end of 2021 we have two new potential liquidity events on the horizon - Forge Global’s $2B SPAC and Rigetti Holding’s $1.5B SPAC.
Once these happen, it will bring us to a total of seven liquidity events from our seed-stage portfolios in the last eighteen months - DoorDash (IPO), AppLovin (IPO), Voyager Digital (public listing through a reverse merger), Forge (SPAC), and Rigetti (SPAC), Clever ($500M acquisition) and TubiTV ($500M acquisition).
In addition to the liquidity events, we have been busy making new seed investments in a number of promising companies, some of which were from our newly raised seed fund. Earlier this year, we had also raised our new Opportunity Fund and have already invested in five of our portfolio companies’ Series B and C rounds from that fund. We expect to raise our next Opportunity Fund in 2022.
We have added to our team recently. Lukas Linemayr joined us as an Analyst on our investment team. We are excited to welcome him to the Streamlined family and community.
We thank you for your continued support and friendship and look forward to seeing you in person soon.
- The Streamlined Ventures Team
Our Fifth Seed Fund
We recently raised our fifth seed fund and have already begun to make investments from it. We will continue to lead or co-lead investments in seed-stage companies across most vertical markets. We invest in business or consumer-oriented software companies that use the following technologies to transform the dynamics of their markets: Data science, AI technologies, APIs, Software enabled automation and Web3/Blockchain.
We thank you for all the introductions you have made over the years to amazing founders. Please keep introducing us to talented and driven entrepreneurs working on world-changing ideas and we promise we will work incredibly hard to help them turn their dreams into reality.
Opportunity Fund Investments
We raised our recent Opportunity Fund in Q2 of this year. Our Opportunity Funds allow us to continue to partner in the mid-stage financings of companies in whose seed rounds we had invested from our Seed Funds. Recently we were fortunate to be able to invest in the Series B or C rounds of incredible companies from our seed portfolios such as Medable, FLYR Labs, PayStand, Flip and Zero Systems.
We expect to deploy the balance of our Opportunity Fund in the next 6 months and then raise our next Opportunity Fund in early 2022.
What’s New with our Portfolio
A number of our companies have recently announced meaningful liquidity events and follow-on financings. Below are the more notable ones that have been publicly announced.
Pre-IPO marketplace Forge Global to go public in $2B SPAC deal
Rigetti Computing goes public via a $1.5B SPAC merger
Fintech startup Bolt sees valuation surge to $6 Billion
Colombian on-demand delivery startup Rappi raises over $500M at a $5.25B valuation
Medable raised a $304M Series D at a $2.1B valuation
Addepar valued at $2.17B as investors bet on wealth-management tech
FLYR Labs closes $150M Series C
Destiny has raised $100M for its first ETF - Destiny Tech100
Lively announced an $80 million Series C
Pager raises $70M to scale its turnkey care coordination platform
PayStand banks $50M to make B2B payments cashless and with no fees
Flip bags $28M to turn beauty, wellness social commerce on its head
Laika gets US $ 12M to expand the offer of its platform for pets
New Seed Investments
During the last six months, we have been very active in leading or co-leading new seed investments. Below we have listed some of the companies with whom we have partnered recently. Some other companies are still in stealth mode and we will include them in subsequent newsletters.
Subskribe is building subscription billing management software for the modern enterprise.
CloudBrink provides converged edge infrastructure to seamlessly distribute cloud applications and enhance application performance for the modern enterprise.
Configure is working to become the future of software development by addressing manual inefficiencies in the current process.
Precog sells No Code AI for Data Engineering. Their intelligent solution lets any user connect to any data source, and automatically creates the exact tables they need for analytics.
Pave is building cashflow APIs that allow fintech developers and data scientists to connect their data and retrieve clean financial insights.
FenixCommerce is a SaaS platform that helps manage end-to-end customer experience, order fulfillment, and delivery options.
Boom & Bucket is building the modern market for everything that is related to heavy equipment.
Pillar is an operating system for Health Coaching, providing the infrastructure and provider network to integrate health coaching to make patient care more affordable and efficient.
Laika is a Latin America-focused digital platform that provides a full scope of pet products & services such as veterinary visits, trainers, video consultations, and more.
Buho Contabile is building the TurboTax of Latin America.
Umba is an African digital bank, offering free bank accounts and financial services to its customers.
Welcoming a New Team Member
Lukas Linemayr joined the Streamlined Ventures team as an Analyst in June 2021.
Prior to joining Streamlined Ventures, Lukas worked at the global consulting firm A.T. Kearney, working extensively in the TMT & Private Equity practices and engaging with clients in North America, LATAM, and Europe. He also performed pro-bono consulting work for early-stage founders in his personal time.
