Streamlined Ventures Newsletter
Dear Friends, greeting from Streamlined Ventures! We are happy to share some significant updates from our firm since our last Newsletter in October 2021.
The beginning of the year started off with some exciting news as two of our portfolio companies successfully completed public listings. Forge Global (FRGE) listed at a share price of $10/share and is currently trading well above that share price. Rigetti Computing (RGTI) completed a SPAC listing and is now one of the few companies in the quantum computing space to be publicly traded. This brings us to a total of four public listings in our seed portfolio in the last eighteen months (including the IPOs of DoorDash and AppLovin).
In addition to these liquidity events, we have made a number of new investments from our fifth Seed Fund which we closed earlier this year at $100M. We also completed the first close on our new Opportunity Fund.
To learn more about our investment focus, philosophy, and portfolio of investments, please visit our website.
We thank you for your continued support and friendship and look forward to seeing you in person soon.
- The Streamlined Ventures Team
Liquidity Events in our Portfolio
Forge Global
We are excited to announce that Forge Global (FRGE) made its public debut on Monday, March 21, valuing the company at $2.5B. As of yesterday, it is trading at a valuation of $4.7B. We made our initial seed investment in 2015 and are fortunate to have been able to continue our partnership with the team through their Series B round from our Opportunity Funds. A big congratulations to the founders Sohail Prasad and Samvit Ramadurgam and CEO Kelly Rodriques on this huge accomplishment during a very difficult time in the public markets.
Rigetti
On March 2, Rigetti Computing (RGTI) completed its SPAC merger and is now one of the few quantum computing companies to be trading publicly. We are thankful to have been able to partner with Chad Rigetti and his team in 2014 during their seed round and continue the partnership through their Series C from our Opportunity Funds.
New Opportunity Fund
With many great follow-on investment opportunities coming out of our Seed Funds, we have completed all of our initial investments from our second Opportunity Fund. Accordingly, we have recently done a first close on our third Opportunity Fund and we have already begun to invest out of this new fund.
Our Opportunity Funds allow us to continue to partner in the mid-stage financings of companies whose seed rounds we have led from our main Seed Funds.
New Seed Investments
We welcome many new founders to the Streamlined Community as we continue to lead or co-lead seed investments from our fifth seed stage fund. Listed below are some of the companies that we have recently partnered with. Others are still in stealth and will be included in subsequent newsletters.
Provides continuous security intelligence as-a-service.
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.
Helps direct-to-consumer brands drive growth and profitably with their AI-powered shipping & delivery solutions.
An operating system for Health Coaching, providing the infrastructure and provider network that digital health companies can offer their customers as a service.
A no-code workflow tool that helps companies solve complex customer service issues faster.
A tax filing and accounting platform for small businesses in Mexico.
A marketplace for online Experiences in gaming and Web3.
An online and in-app construction labor marketplace and management system created to support the global construction workforce with a wide range of services.
A platform for discovering dining and nightlife through video.
An on-demand vital health data service that offers various laboratory home services and tests.
An artificial intelligence platform used to predict customer lifetime value for e-commerce businesses.
An AI-driven platform for real estate investing at scale for institutional investors.
A gamer’s crypto wallet with the intention to make it the best way to spend money on gaming, with unique rewards & points.
A personalized mobile health company that enables users to monitor key vital signs anywhere, anytime.
What’s New with our Portfolio
A number of our portfolio companies have secured meaningful follow-on financings recently. Below are the more notable financings that have been publicly announced.
Forge Global Stock (FRGE) soars in Public Market Deput
Rigetti Computing (RGTI) begins trading on the Nasdaq Capital Markets
Fresh round of $355M puts checkout company Bolt into decacorn territory
Medable reaches a $2.1B valuation
Stilt secures $114M to help fintech and neobanks launch credit offerings
99minutos raises $82M for logistics infrastructure in Latin America
Lively announced an $80M Series C
Pager raises $70M to scale its turnkey care coordination platform
Calii bags $22.5M to build Latin America’s grocery shopping future
Riogrande captures $12M and wants to create new brands in Mexico
Zero Systems gets $12M Series A to bring automation to professional services
Haystacks.AI announces upsized seed round as a total of $8M
Boom & Bucket raises $5.5M to put pre-owned machinery sales back on track
