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
18
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
How to build pipeline – part 2
I read Trish Bertuzzi’s book ‘The Sales Development Playbook’ and it was by far one of the best sales books I’ve read in a while. The book focuses heavily on building pipeline with SDR teams. This is the second post of a few I’m going to share about this book: there was so much good…
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The Series A Valuation Report
What valuations are founders asking for when they raise their Series A round? Since May 2018, we’ve had conversations with 179 companies about leading or following their Series A rounds. Below is aggregate data on these 179 raises with names redacted to preserve confidentiality. Figures like revenue, valuation, and round size are medians from conversations…
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Consumer tech valuations are down
We follow 60 publicly traded consumer tech companies in industries like social media, marketplaces, content distribution, gaming, ecommerce, payments, and new hardware. Consumers and tech are a critical in the business model. Given the diversity of industries, the multiples vary. Below is the data along with a few observations. Social media has been…
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SaaS valuations are unshakable
Even as stocks sell off, SaaS valuation remain unshakeable.: of the 76 SaaS companies we follow, the average public SaaS business is trading at 8.91x revenue while the median is 8.29x. The medians and averages are nearly unchanged from July when we last presented the data, which is pretty incredible given the recent stock market…
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