The Anti-VC
We're the Anti-VC. We're not unicorn hunters and don't believe in high burn, uneconomic models that reach for market share. We look for solid businesses built by founders who are cash efficient, scrappy, and pragmatic. We focus on companies with $2mm+ of run-rate revenue and year over year growth of 50%+. We'll invest anywhere in the US or Canada, especially in markets most venture capital firms overlook. We prefer leading $1mm to $10mm Series A or B rounds, but can also follow. We like plain-vanilla preferred stock in traditional growth rounds, inside rounds, recaps, secondaries, and restructurings.
Who We AreThe Numbers
19
Companies Funded
13
Invested
1
Check Size
3-4
Decision Process
Our
Portfolio
Our portfolio is diverse and includes HR software, app tech, parking, sales and marketing software, apps, greeting cards, dating, e-commerce, and healthcare software. We love tech, but will invest in low or no tech opportunities that scale.
See Our Full Portfolio
Avoiding lawsuits
As the list of sureties go, add ‘getting sued’ alongside death and taxes. Unfortunately you can and will be sued for anything at any time. It’s not a matter of if, it’s a matter of when. Below are the times I’ve seen companies most vulnerable to a suit: You just raised a big round. …
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SaaS valuations made a comeback
SaaS multiples look great and made a nice comeback from Q4 2018: of the 72 SaaS companies we follow, the average public SaaS business is trading at 10.51x revenue while the median is 8.94x. Interestingly, the gap between the average and median has never been larger for the time period shown, meaning more attractive SaaS…
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Tell your investors everything
If you’re not communicating with your investors regularly (at least monthly), you should be. Here’s why: The more info you share, the fewer questions you’ll answer. I can attest to this personally. At BSV we have a lot of investors and one thing I feared was getting weekly sets of random questions from all…
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A great VC story
eBoys by Randall Stross is a classic. It chronicles the early days of one of the finest venture funds ever: Benchmark. Below are some of the excerpts I found most valuable. “When Benchmark invested $6.7mm in eBay in 1997, the auction company’s valuation was put at $20 million. By the next spring, the…
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