Jake Colognesi

Wonderful article about Emily Knight and the whole The Engine Accelerator team on the amazing work their doing changing the world with #ToughTech!

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I'm excited to share my thoughts about closing our latest fund at Companyon Ventures. Raising a VC fund as an emerging manager is tough enough without the added challenge of rising interest rates and inflation, punctuated by the 2023 banking crisis unfolding during our fundraising cycle. After countless meetings and hearing "no" more times than we'd like to remember, we're grateful for the support and introductions from our LPs and fellow VCs like Bob Mason. We surpassed our minimum target, raising $41M with an additional ~$20M from our LPs available for SPVs in our companies, bringing our AUM close to $100M. While small in today's VC world, we're very proud of how we've deployed that capital. My partners Firas Raouf, David McFarlane, and Ronny Chatterjee did much of the heavy lifting with the fundraising, but our entire team significantly contributed to the effort. Here are a few highlights and thank-yous we’re excited to share: 🙏 First, a huge thanks to the founders who accepted our investment during our fundraising process. Your powerful visions and amazing execution proved to our existing and prospective LPs that we can identify and attract some of the best founders in the industry. Thanks Stephen Gendron, Doug Neumann, Hersh Tapadia, Avante Price, Eli Taylor-Lemire, Zaid Rahman, Daniel Pelaez, and Ali Ansari! 🌟 With a larger fund than our 2020 fund, our focus and thesis have not changed. We believe we are the top firm to lead late seed, post-seed, and early Series A rounds when companies are navigating the tricky transition from a founder-led startup to the first stages of a scalable enterprise. 💰 We launched a new Capital Markets function in this fund built by my colleague Ronny Chatterjee. This has been massively impactful for our portfolio CEOs. Ronny has showcased our portfolio to more than 200 Series A, B, Growth, and PE funds, and dozens of debt providers with great success. His job is to find the right follow-on capital for our portfolio companies while saving our CEOs countless hours of blindly prospecting for dollars. 🛠 We still average ~4 new investments each year from the thousands of companies we encounter. It’s tough to pass on many of them, but our approach of offering deeply embedded GTM talent and playbooks requires a concentrated portfolio approach so we can provide the attention and bandwidth that our founders expect. 📈 We’re proud that about half of our existing portfolio from this fund and our prior fund (2020) have either already crossed the critical $10M ARR threshold or will likely do so within the next year. We're confident that many more will follow shortly after. Most were at or below $2M ARR when we invested. 99% of that operational success can be attributed to those founders, but we like to think that our 1% was well-timed and impactful. Thank you to everyone in our community who has supported us in so many different ways! https://lnkd.in/eFauhT4Q #venturecapital

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If you enjoyed our first blog on the metrics that matter for Verticalized SaaS then don't miss on the Part II of the series where my colleagues Devraj Hom Roy and Matt Schaar discuss the strategic and operational choices to improve these operational indicators. https://lnkd.in/g5QkCrcH

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Last week, we shared the first part (1/2) of our perspectives on vertical SaaS (vSaaS), more specifically on which metrics define the performance of vSaaS businesses and outlining the benchmarks for each of these metrics. If you have not yet read the piece, give it a read here - https://lnkd.in/d94n2bgN This week we published the second part (2/2) where we call out certain strategies deployed by successful vSaaS companies like Procore Technologies Toast ServiceNow Zenoti and others that can be used to improve the metrics that matter. Read on to layer the numbers with the strats- https://lnkd.in/dPkmWFax Do reach out if you are building in the space or want to exchange notes / feedback on the perspectives. #fintech #verticaSaaS #embeddedfinance #investments

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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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🌱 For founders taking on venture debt, covenants are the fine print you cannot afford to ignore. 📃 They set the boundaries for how you can operate and manage your company’s finances. If you don’t play by these rules, the consequences can be pretty dire. It’s all about negotiating terms that align with your startup’s financial health. Be sure to read the original post by Kruze Consulting to get the full breakdown. Link in the 1st comment. 👇 #StartupFinance

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Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

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We're absolutely thrilled to announce a monumental milestone for Flo Health Inc.! After years of dedication to women's health, Flo, a long-standing member of the Target Global family, has secured over $200 million in Series C funding led by General Atlantic.This incredible investment propels Flo's valuation beyond $1 billion, officially making it a unicorn – a rare and remarkable feat in the femtech space. This accomplishment isn't just about numbers. It's a testament to the power of prioritizing women's health. Flo has seen phenomenal growth over eight years, becoming the #1 downloaded app in the Health & Fitness category. Today, Flo empowers nearly 70 million monthly active users (MAUs) and boasts close to 5 million paid subscribers. Notably, 1 in 4 US women trust Flo, solidifying its position as a leader in the global movement for women's health. But this is just the beginning! This investment fuels Flo's mission to revolutionize female healthcare experiences worldwide. By directing resources towards areas of critical yet unmet needs (which, let's be honest, encompasses a vast majority of women's health!), Flo will continue to be a driving force for positive change. Congratulations Dmitry Gurski,Yuri Gurski, and the entire Flo Health Inc. team! More in the Financial Times here ---->https://lnkd.in/dJZdajM4

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Q3 is out and Q4 is in!  This is a great read about Base10's strategic switch showcasing how Carta is simplifying fund administration for emerging managers, which is especially important now rolling into the year-end busy season. 

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What's the fast river in alts? Listen to the latest Alt Goes Mainstream podcast with Mercer's Gregg Sommer & CAIS' Neil Blundell to hear how they are helping advisors approach private markets. Gregg, Neil, and I had a fascinating discussion about how the wealth channel can approach alternatives and how they can think about both diligence and customization. We covered: * The case for alternatives. * How advisors currently approach alternatives and how they can think about it differently going forward. * How to think about portfolio construction that includes alternatives. * How alts can help advisors differentiate their practice and attract clients. * Following the fast river in a career and why alternatives are “the fast river.” * The meaning of “structure over strategy.” * The rise in popularity of evergreen funds. Thanks Gregg and Neil for sharing your thoughts and expertise on private markets. Thanks to our sponsor, Ultimus Fund Solutions, for making this episode possible. https://lnkd.in/eBtyw6Fm

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Fin Capital’s Fintech CEO Pulse Report is out! We surveyed over 50 CEOs and C-suite leaders of private companies from our portfolio and the broader fintech industry during June and July 2024 to get a quick pulse on what’s top of mind for fintech’s leaders. Here are some key takeaways: Optimism in the Air: More than 60% of CEOs reported being bullish or highly bullish on the fintech industry for the second half of 2024. Regulatory Changes on the Horizon: CEOs identified Cryptocurrency, Open Banking, and Buy Now Pay Later as the top three sectors likely to see increased regulation by the end of 2024. CEOs Want Business Development Support: Beyond capital and fundraising, business development support emerged as the top area where CEOs seek investor assistance.For more insights, including comments from my colleagues Ren Riley, Logan Allin, Matthew D. Mann, CFA, and Stephanie Perez, check out the full report here: https://lnkd.in/euHK8-9B

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Don't call it a comeback - growth equity deals on the rise again per PitchBook. From the attached article: "According to PitchBook’s latest US PE Breakdown, PE growth investments were on the rise in the first half of 2024, accounting for about 23% of all PE deals and surpassing leveraged buyouts, which made up 19%. That reverses a long-time trend. Growth investments in the first half of 2024 are already exceeding those from the whole of 2023, when they accounted for 20% of all PE deals." The heightened cost of capital is obviously driving a lot of this dynamic. However... it is interesting to note that PE funds are seemingly more willing to take minority stakes - a dynamic that is historically more from the VC playbook. The hard truth is that, even in a challenging funding and valuation environment, growth stage companies - both PE-backed and VC-backed - still offer large institutional investors a compelling return profile. A growth-potential profile not often available in the public markets. This dynamic alone will push PE and VC private market investment through and beyond the current challenges... Endeavor Colorado Zeb King Tegan Stanbach Kathryn Dickson #privateequity #venturecapital #entrepreneurship #innovation #founders #startups #investing https://lnkd.in/gKZKwXct

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May is when many private companies finalize mid-year comp plans 💵 Need a reliable 409A valuation? Or has it been over a year since your last? We've got you covered! Scalar's 409A valuations keep you compliant, protect employees from tax penalties, and come with a team that supports you all the way through an audit. https://lnkd.in/gs_CtPNS

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Strategic and corporate venture funds are increasingly playing a bigger in role earlier stage startups, particularly for #deeptech companies needing design partners to build and test their beta products. Looking forward to discussing some lessons learned for earlier stage companies seeking strategic investment with my fellow panelists Michael (Mick) Gilbert, Kenzie Weston Mucci, Katerina Fialkovskaya, Adarsh Sowcar, Jianyu (Jerrold) Wang, MBA, Maria G. Manrique and moderator Stephen Brook. Thanks to Peter Walker and the team for organizing the annual New England Venture Summit. Definitely recommend the youngStartup Ventures conferences. #vc #cvc #startups #investment

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A Trade You Don't Make Inspired by the NBA Finals and from a WSJ story... There is an interesting lesson for companies to have a long-term view with some of your key people (while also having a discerning eye for talent). Summary: - There was a lot of pressure a few years ago to trade away Boston Celtics players Jayson Tatum and Jaylen Brown - critics called them overrated due to playoff failures - Turns out, the decision *not* to trade them has proven pivotal - they are central to the Boston Celtics' success in the NBA Finals - The retention of Tatum & Brown underscores the value of stability and growth within a team, countering pressures and criticisms with patience and long-term commitment to process and progress - Their performance in the Finals highlights the advantages of maintaining core players and evolve them, overcoming past past failures and solidifying their roles as integral components of a championship-contending team --- Source: WSJ - https://lnkd.in/eMUk4WQE --- #business #ceo #cro #pe #privateequity #talent #teams

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The Information broke news that Insight Partners has just secured $10B in funding for their latest flagship fund. This is perfectly timed given their multiple $1B+ companies sold over the past week. This is a clear sight that #limitedpartners still have in their #privateallocations even during the current slow markets for #IPOs and #M&A. This would also appear to be good news for #AIfinancing and #SaaSFinancing. What do you think? #Management #VentureCapital #PrivateEquity #CapitalMarkets https://lnkd.in/gXu_s8Qj

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My colleagues at BIP Capital work hard to meet the private market investing needs of HNWIs and the RIAs who serve them. The potential for compounding returns is a critical consideration, so we've put together a short, straightforward explanation of what they are and how they work. We also want to help our clients understand how evergreen funds like the BIP Ventures Evergreen BDC encourage compounding returns. Because they offer patient capital and reinvestment opportunities, evergreen funds can move high-performing portfolio startups to optimal outcomes. That's good for investors who are willing to take a longer view. If you want to get the inside knowledge on this important topic, check out our "Expert Guide to Compounding Returns with Evergreen Funds." https://lnkd.in/efXAbibV BONUS: If you're an RIA, join us for a brief informational session tomorrow (June 11th) at 2:00 pm EST. You'll get useful information from some of the most seasoned, intelligent authorities in private market investing. Mark Flickinger Phil Davidson #CompoundingReturns #EvergreenFunds #WealthManagement #LongTermInvestment #PrivateEquity #HNWIs #FamilyOffices #RIAs #BIPCapital #BIPVentures 📣 BTW, webinar seats close EOD today, so grab yours now. (Shhhhh.... if you miss it, DM me and I'll be glad to help you out.) https://hubs.ly/Q02B7zL40

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In PE, when you buy a company you're in business with the founders & the management team even though the PE firm owns the company. Success is a function of collaborative partnership & teamwork. PE firms that have this partnership philosophy are well positioned on the path to achieve top decile IRR. #pe #privateequity

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All VCs are founder friendly – we all collectively understand that without founders, we don’t have a reason to exist. However, being founder friendly means a lot of different things. We at Touring Capital take pride in being the first call when founders need a second pair of eyes as they view us as non-judgmental board members who can problem solve together. We also look out for founders by preserving founder dilution and raising the right amount of capital needed for the business. We don’t force founders to take a specific amount of capital because of our fund size. In fact, capital efficient founders self-select us as we work with them to minimize dilution and preserve optionality. If they want to go all the way and build a massive business with a view to a public market exit, then more power to them. We have backed founders like Eric S. Yuan at Zoom and Johan Brand, FRSA at Kahoot! which were able to go public with significant founder ownership. However, if our founders decide to team up with a larger company earlier in their journey, they still own a large chunk of the company and are rewarded with a lifechanging financial outcome. Founders like Ankur Singla and Tasso Roumeliotis decided to partner with larger companies in their first forays and are now back in the game with their next acts, Exaforce and Numa respectively (and we are lucky to back them the second time around). It’s all about providing optionality for founders, not about our check size. Here's to a true partnership with the next generation of visionary founders at Touring Capital. Samir Kumar Priya Saiprasad Evan Wijaya

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