Welcome back, friends! Given there has been nothing interesting happening in the upcoming elections and anything regarding politics, we aim to jump right into the latest and greatest from C2V :)
We wanted to start by thanking you for taking the time to read our newsletter and for sharing your comments. We hope to continue to offer valuable insights and learnings from the early-stage venture space.
By now you know C2 Ventures closed our first fund in late August and will continue investing through early 2021, bringing our total portfolio to roughly 17 companies. We continue to see our sector heat up both from the quality of deal flow and capital being deployed.
Matt and Chris believe that when we look back at this time, it will mark the most transformational and innovative period in our lives as far as the advancement of technology and software that will guide us forward in a post COVID environment. Nothing spurs innovation like a period of macro upheaval.
We believe that our success thus far is firmly rooted in our commitment to staying focused on our investing thesis, while carefully avoiding the traditional VC herd mentality that our friend Fred Wilson warns of in a recent blog post.
6 years into startup investing and 2 years into our first fund, C2V Capital Partners I, we often find some of the startups we love most are the ones others passed on, and we will continue to follow our convictions, not the crowd.
A couple of editions ago we (not so boldly) predicted that robots were the future and we are backing that up again with our 11th investment in Civ Robotics. Founded by two civil engineers, Civ Robotics has developed unmanned drones and rovers to address one of the biggest pain points the founders experienced in their work on large infrastructure projects (and confirmed through extensive on-the-ground research at 120 different construction projects) by automating the surveying process.
The company’s proprietary software integrates with customers’ project management systems to receive surveying instructions and provide real-time feedback, coupled with survey-grade navigation technology to guide its drones and rovers in performing critical staking and ground marking tasks. Civ also offers smart stakes embedded with chips that link to worker’s mobile apps to provide specific instructions for each marked location.
In addition to providing an alternative to skilled labor that is consistently in short supply, and at an average cost savings of 50%, Civ’s robots provide up to a 40% improvement in completion times and reduce reworks by up to 60%, saving millions of dollars in delay penalties.
We are excited to welcome Civ Robotics to the C2V team.
There are days that make you feel validated and then there are days when Fred Wilson provides that validation (there are also months where you cite the same person twice in one newsletter, but hey, that person happens to be a legend so we’re running with it).
One of last week's daily missives from the estimable founder of Union Square Ventures talked about the economic justifications for going green and we wholeheartedly agree. As a mainly enterprise-focused firm, we invest in consumer companies in only a very narrow set of verticals, and one of those is eco-friendly products, as we believe this sector will significantly outpace the broader economy over the next several decades.
Our portfolio companies StepOne Tech, makers of a simple device that allows you to convert just about any gasoline-powered car to a full flex-fuel vehicle for less than $1,000; Rens, a fashion sneaker brand that makes shoes out of spent coffee grounds and recycled water bottles; and a soon-to-be-announced new electric vehicle company, are all proving that eco-friendly products are no longer an ideal, but a burgeoning economic powerhouse.
As a venture organization committed to providing more than just capital, we love using our platforms to share insights into getting a leg up and staying ahead of the game. Through all of our social channels, we post a variety of content, including many posts that are directed towards founders and those looking for start-up advice.
This month, we shared with founders the importance of staying consistent with updates. Just like working out, consistency leads to results. Fluid communication creates transparency which investors always appreciate. We also relaunched our #InTheTrenches video series, in which we share the C2V perspective on classic early-stage issues. Check out the latest installments on our Instagram.
For some of the best insights, head over to C2V Studios, our original content studio which produces dozens of videos featuring the best founders and startups in the game. From one-on-one interviews to portfolio focused content, we’ve got in the trenches conversations that can help you, the founder. We provide advice on early-stage ventures and show viewers exactly how we do it. Subscribe to C2V Studios on YouTube and make sure to follow our C2V Instagram and Twitter to keep up to date in between newsletters.
It seems like every month of 2020 is filled with more news than the month before. This month, we’ve got plenty of exciting updates from our portfolio companies to share.
Just last week, Beam announced they’ve found their latest brand ambassador in the quarterback of the 4-2 Cleveland Browns, Baker Mayfield (4-2! The Cleveland Browns!). This pairing is perfect and we’re sure he’s going to be a great addition.
We’re also excited to see Chris’s angel investments Petal and Bloom raise big rounds to scale their business in Fintech.
Lastly, Boostr made big news when they announced their partnership with AdLarge Media. This new deal is going to be a game-changer for the future of customized CRM software. As always, we’re excited to see the continued validation of Boostr’s technology from the biggest players in digital media.
As our incredible portfolio companies grow, they’re looking for dedicated team members to grow with them. If you or anyone you know is interested in working with our portfolio companies, check below for some of their open positions.
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