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
You wont be a success from day 1
You probably won’t be a success from day 1. You’re going to struggle and may even come close to failure (more than once). The good news: there are plenty of examples of companies that had setbacks and bumps along the way, but were still a great success. Docusign is one such success story. Docusign…
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Net dollar retention of 107% will take you public
One SaaS metric we monitor closely is net dollar retention. It measures what percent of revenue you retained from the prior year after accounting for upgrades, downgrades, and churn. Formulaically it’s beginning of period revenue + upgrades – downgrades – churn all divided by beginning of period revenue. If that formula yields a number greater…
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Startups arent just for the young
Are startups a young man’s/woman’s game? No. We have 19 portfolio companies today of which 4 of them have CEO’s who are over 45 and has a family. To me, that’s enough proof to indicate you don’t have to be fresh out of college to launch a startup. That said, being young is definitely an…
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Sales & Marketing spend doesnt scale in SaaS
Do big companies benefit from economies of scale? While the default answer may seem like ‘yes’, we wanted to see if that was really true. We looked at the sales and marketing spend of SaaS companies at the time they went public and compared that figure to revenue growth. Formulaicly, it’s revenue growth / sales…
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