Daley Ervin

✨ Breaking: Halogen Ventures Announces New Fund.- Halogen Ventures Halogen Ventures focuses on early-stage consumer technology startups with at least one woman on the founding team. The fund announced a $10 million investment to support female founders in Alabama. https://halogenvc.com/ Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups #Venturecapital

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I recently saw this metric from Carta’s 1Q24 VC Fund Report, which is very concerning. DPI... is nowhere to be found in earlier vintages that probably should start showing DPI. Funding early-stage projects is great, but ultimately, these venture dollars need to exit their investments and pay back their limited partners. That’s where the metric Distributed to Paid-In Capital (DPI) comes in. While managing a fund, we get interim measures during the life of the fund (e.g. IRR, MOIC), but ultimately, “you can’t eat IRR.” If you want to build a lasting venture capital organization, you need to start showing DPI for your fund. Keep in mind that this is traditional VC data from Carta, and is not strictly crypto venture. Crypto venture tends to get liquidity earlier (tokens) and things tend to go parabolic sooner (faster, more unicorns) - but I’d wager that the data here is somewhat similar for Crypto VCs… Not as much DPI as there should be from these earlier vintages. Read the full article, as well as a recap of all the crypto fundraising rounds for August, here: https://lnkd.in/g3eVJ-iF

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This week Mikal Ventures brings you a 4-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending April 15, just over 900 new companies were added, with 94,109 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. AI Tech again saw the greatest percentage of growth in new companies and transactions, weighing in at over double the vertical averages for the period. The US Fin Tech vertical again led the way in SEC Filings and news articles. Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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This week Mikal Ventures brings you a 4-week breakdown of the non-US capital market with an emphasis on the Mikal verticals. The 4-week period ending November 25 saw just over 1,300 new companies added, bringing the total to 112,141 companies included in the non-US Health Tech, Med Tech, AI Tech Fin Tech and Ed Tech verticals. Non-US AI Tech again saw the greatest percentage growth in new companies at 16%, vs. the vertical average of 12% for the period. Non-US HeathTech led the group in transactions. Non-US Med Tech led in SEC Filings and news articles.   Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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When we asked CPG founders who they wanted at Founderland... Their answer was clear: People who can help them grow their business & achieve their goals. Specifically: - The top retailers - The most founder-friendly investors, and - Other founders they can learn from and share with This conversation that I'm hosting at Founderland is a perfect representation of this group, plus one BIG bonus. We're also including Joel Toledano and ChargeUp.ai which is one of my favorite tech companies that is supporting consumer brands today. They automate the retail deduction and chargeback process for brands, saving them an insane amount of time and money. Such a cool co. Excited to teach, share and connect...and get some deals done, while of course having lots of fun. Joel Toledano Jen Zeszut Kim Coffin Deb Conklin

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Great time on the Embracing Erosion podcast w/Devon O'Rourke! We talked about: 🚀 How to scale a company from concept to 9-figure exit 🔄 How to break away from the traditional consulting model and apply product approaches ⏩ Why it’s important to iterate quickly and often with messaging 💸📈What signals are important to pay attention to when investing in startups and much more!

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I enjoyed going on Nick Telson-Sillett’s podcast, Pitch Deck by Forward Pursuit. Nick is a serial founder and investor (founded and exited DesignMyNight) so knows both sides of the table which always makes for an enriching chat. Some things we discussed: - The perceived power dynamic between VCs and founders can hinder productive conversations. - A compelling product demo can significantly influence investor interest. - Founders must focus on solving real customer problems to succeed. - Hiring standards are crucial for building a successful startup team. - Behavioural roadblocks can prevent the adoption of new solutions. - Validation from potential customers is key for pre-revenue startups. - The early-stage funding landscape has become more efficient and selective. - Pace of execution is a critical factor in attracting investment.

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In addition to building our own VC practice at AAF Management Ltd., we’ve invested in 37 VCs since 2017. Here is what, I believe, it takes to build a multi-vintage, early-stage, venture franchise: 𝟭- 𝗦𝗵𝗼𝘄 𝗙𝗼𝗰𝘂𝘀: hyper-focused GPs build longevity and consistency in their businesses. If you pitch LPs saying you will invest in early stage consumer but end up doing late stage consumer that’s a massive red flag. Stay germane to your mandate and strategy. 𝟮- 𝗔𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝘁𝗲 𝗮 𝗨𝗻𝗶𝗾𝘂𝗲 𝗩𝗮𝗹𝘂𝗲 𝗣𝗿𝗼𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻: the market is crowded with venture firms, articulate your differentiated value proposition to LPs and founders. Don’t try to be everything to everyone. Focus on 1-2 value propositions to your stakeholders and execute them with excellence and defensibility. 𝟯- 𝗚𝗲𝘁 𝗕𝗲𝘁𝘁𝗲𝗿 𝗮𝘁 𝗦𝘁𝗼𝗿𝘆-𝗧𝗲𝗹𝗹𝗶𝗻𝗴: we tell stories everyday. Raising capital for a fund and building your venture firm requires that same story-telling skillset. Tell consistent narratives to the market to help build your own brand as well as your firm’s brand. 𝟰- 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝘆𝗼𝘂𝗿 𝗦𝘂𝗯𝗷𝗲𝗰𝘁-𝗠𝗮𝘁𝘁𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲: if you possess subject-matter expertise in a certain vertical, domain or industry, you already own a defensible moat. Accentuate that to your advantage when building your firm, raising capital from LPs and winning deals from founders. 𝟱- 𝗠𝗮𝗶𝗻𝘁𝗮𝗶𝗻 𝗮 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝘃𝗲 𝗡𝗮𝘁𝘂𝗿𝗲: early stage venture is a highly collaborate asset class. Keep your ego at the door, you will never be able to do everything it takes to build a firm alone. Leverage LPs, partners and founders for deal flow sourcing, diligence and overall industry best practices. 𝟲- 𝗙𝗶𝗻𝗱 𝘆𝗼𝘂𝗿 𝗣𝗿𝗼𝗱𝘂𝗰𝘁-𝗠𝗮𝗿𝗸𝗲𝘁-𝗙𝗶𝘁: in quintessential startup vernacular, ideally find your product-market-fit by the time you launch your second fund. You need product-market-fit before you scale your AUM, grow your team and carry more fiduciary responsibility. 𝟳- 𝗞𝗲𝗲𝗽 𝘆𝗼𝘂𝗿 𝗣𝗮𝘁𝗶𝗲𝗻𝗰𝗲: early stage VC investing is a marathon. Patience will reward you personally, professionally and financially. Build mental, physical and psychological stamina to endure the inherent ebbs and flows of your entrepreneurial journey. 𝟴- 𝗧𝗵𝗶𝗻𝗸 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺: early stage VC investing is the archetypal long-term financial asset. Think in 10 year increments for your firm’s grand vision, think in 4 years for a given fund’s investment period and think in quarters when reporting material updates on your portfolio to your LPs. 𝟵- 𝗛𝗮𝘃𝗲 𝗙𝘂𝗻: if instant gratification, short feedback loops and a constant need for reaffirmation is what you are looking for in a career then early stage VC investing will not fulfill you. Have fun building, and as Naval Ravikant once said: "𝙗𝙚 𝙖𝙣 𝙤𝙥𝙩𝙢𝙞𝙨𝙩𝙞𝙘 𝙘𝙤𝙣𝙩𝙧𝙖𝙧𝙞𝙖𝙣." Finally, and most importantly, be authentic and true to yourself. #firmbuilding #entrepreneurs #VC

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This week Mikal Ventures brings you a 4-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending June 10, just over 590 new companies were added, resulting in 95,661 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. AI Tech maintained its most active status, seeing the greatest percentage of growth in both new companies and transactions. The US Fin Tech vertical led the way in SEC Filings and news articles. Mikal Ventures publishes these stats to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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One of my proudest moments as an investor occurred today as Alaffia Health announced its series A because it shows how the Aperture® Venture Capital vision of multi-level, multi-generational #impactinvesting is succeeding in the marketplace. Here’s the model in its most basic form : ✅As diverse fund managers with meaningful capital to allocate, we are changing the VC landscape every day just by doing our day jobs. ✅As Black/Brown investors with ~40 years experience collectively, Aperture GPs have access to talent /excellence that others do not, so our portfolio *organically* is more inclusive by race, gender and geography even while optimizing for financial outcomes (all about the alpha). ✅Our most successful portco’s are using financial #innovation to solve market problems that impact underrepresented demographics and underserved communities. Alaffia Health is a shining example of the impact portion of our overall fund thesis, and we couldn’t be prouder of TJ Ademiluyi and Adun Akanni, MPH, PMP - the dynamic brother-sister founder duo whose vision we have steadfastly supported on their journey. Congratulations to TJ and Adun from William Crowder and myself, as well as the whole Aperture team- Marjorie King Philip McKenzie Yves Louis-Jacques Tanvi Lal Michelle Dhansinghani Lisha Bell Katie Kelly Amy Chung Cindy Chong, CFA Brian Fernandes-Halloran Monroe France Jayden Pantel Darren Herman Evan Wladis Neal Triplett Thomas Scriven Peter Ammon Irina Bit-Babik Tim Milanich Rob Rahbari

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Happy New Year! This week Mikal Ventures brings you a 4-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending January 6, just under 490 new companies were added, resulting in 101,793 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. The slowdown in overall activity in all verticals continues, furthered in part by the end-of-year holiday period. US AI Tech again saw the greatest percentage growth in new companies at 9%, vs. the vertical average of 5% for the period. AI Tech also led the group in transactions. US Fin Tech led in SEC Filings, while US Heath Tech led in news articles. Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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Kettleborough VC has been active for ~6 years, invested in ~30 companies, gone through ~80 funding rounds, witnessed ~12 exits including ~4 instances of partial principal erosion, seen ~4 seed to $100M journeys, tracking ~29% XIRR across the portfolio. A couple of IPOs from the portfolio surely seem very much in line ahead.

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The healthcare landscape is rapidly evolving, driven by advancements in technology and a deeper understanding of patient care. I had the pleasure of speaking with Ambar Bhattacharyya, Co-Managing Partner at Maverick Ventures, on the latest episode of The Full Ratchet. Ambar has partnered with numerous billion-dollar companies like hims & hers, Cityblock Health, Devoted Health, and ConcertAI. His unique journey from rural America to becoming a prominent figure in venture capital offers invaluable insights into the future of healthcare and technology. We discuss his investment strategy at Maverick Ventures, the megatrends shaping healthcare, the impact of AI on the industry, and the importance of integrated care. Ambar also shares his thoughts on the challenges and opportunities in healthcare investment, offering a comprehensive view of what lies ahead. Check out TFR Episode 438 to catch our conversation. You'll be glad you listened. Link to the full episode is in the comment section below.

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Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

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💰 Founders, are you wasting time and resources pitching to the wrong investors? 💰 In this podcast excerpt, David Forsberg, CFA from Ascent Energy Ventures shares a crucial piece of advice: Make sure your startup is truly venture-backable before you start seeking funding. 🎯 I've advised hundreds of startups that have raised billions in VC and venture debt funding, and I've seen firsthand the pressures founders face when growing their companies. 🌱 Listen to the full podcast for more game-changing insights. Link in the original Kruze Consulting post. 🎧 #startups #venturecapital #funding #entrepreneurship

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To all #founders and #entrepreneurs out there, our intro meetings are conversational and easy going. Feel free to message me to setup a call. Learn what Pioneera Ventures can do for you!

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This week Mikal Ventures brings you a 4-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending November 11, just under 725 new companies were added, resulting in 100,716 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. Although we are seeing a slowdown in overall activity, US AI Tech again saw the greatest percentage growth in new companies at 16%, vs. the vertical average of 7% for the period. AI Tech also led the group in news articles. US Fin Tech led in transactions, while US Med Tech led in SEC Filings. Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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💰🎓VALUATION CAP💰🎓 Setting a valuation cap in fundraising is crucial as it limits the maximum valuation at which a SAFE (Simple Agreement for Future Equity) converts to equity. This helps founders manage equity dilution and provides investors with a clear understanding of their potential ownership percentage, ensuring informed decision-making during fundraising rounds. Source: Peter Walker Great post! #valuationcap #investors #founders #raisingcapital #safes #fundraising #womenshealth #femhealth #medtech

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In Q2 2024, the time between funding rounds for Series D+ companies increased to 2.1 years from 1.2 years in 2021, according to PitchBook. In my view, founders building enduring high-growth companies with products that their customers love can still attract capital, but the questions are: at what price and in what form does it make the most sense? More time typically allows growing startups to raise the capital they need at a higher valuation, resulting in less dilution for management, employees, and inside investors. This dynamic is especially important for those who raised capital at peak prices in 2021 and may now see lower valuation multiples, which in some cases means raising today could be at a flat or lower valuation. As a result, I'm talking about alternative financing options with many founder and investor friends. These include venture debt, SAFEs, convertible notes, and other solutions, which can be used individually or most often together to extend runway without repricing equity or sacrificing growth before a formal priced round. I'm excited to see the startup and venture community appearing to be more agile than I've ever seen it. Ideally, we'll harness our collective energy and creativity to support risk-taking builders with solutions as they navigate the market. See you out there! Note: These thoughts are solely mine and do not reflect the opinions of any company I am associated with.

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