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 FundWe 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 InvestmentsWe 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 PortfolioA 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 InvestmentsDuring 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. Welcoming a New Team MemberLukas 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. |