Angela Tran’s Post

I love working with Version One Ventures and love this investment thesis. When I talk about Kobalt.io, I often talk about the fact that we're trying, effectively, to "create a new category" in security. That is, delivering proven, repeatable security programs to small and mid-sized organizations. Many of the elements look the same - advisory support, compliance with standards like SOC2 leveraging tools like Vanta, conducting pentests, etc. But predictable, positive security outcomes, at scale, for smaller businesses requires solving all sorts of other problems and working on things that many others don't care about when they're selling software or dealing with a point problem. I love the idea of category creation - it's sort of a "the world was different before X existed, and now it's forever changed for the better".

Fascinating and I daresay, a must read piece from the guys who coined the term "unicorn" to describe one of the results of their research. Aside: I wonder what African firms are doing similar levels of research. Might take a stab at it myself 🤔 From the article... �� Unicorns ballooned 14x in the past decade, from 39 to 532! They now serve a wider array of sectors (we’re tracking 19) from climate and crypto to vertical SaaS. • The pendulum swung hard to enterprise (78%), the inverse of 2013. • It’s a bloated herd that will thin in coming years (likely to about 350) because… • A whopping 93% are ‘Papercorns’ - privately valued companies. • 60% are ‘ZIRPicorns’ - their last valuation is from ‘20-22, when interest rates were near zero. • Many are running out of runway. Many are on the cusp: 21% are valued just at $1B (sorry?!) • ~40% are trading below $1B in secondary markets. • BUT. There is lots of substance in this herd. • And we see evidence of a Software Unicorn Power Law - the US will be home to more than 1,000 unicorns by 2033. •There’ve been very few exits - only 7% (35 companies) vs. 66% a decade ago. Capital efficiency declined significantly. This will be bad for exits, venture returns, founders and employees. Also a notable quote: "We don’t analyze fallen unicorns here. But anecdotally, we see being crowned a unicorn too quickly could be a curse. Fallen unicorns like Hopin and Bird were crowned within one year of founding; car leaser Fair in two years; Convoy and Knotel just three years after founding."👀💀 Beautiful long weekend read from Aileen Lee and Allegra Simon https://lnkd.in/dWrp4AAq

Exciting things are happening in the financial startup scene here in Vancouver. We've witnessed game-changing innovations and groundbreaking ventures that deserve a spotlight. Our recent article dives deep into the thriving landscape of Vancouver's flourishing financial startups. 🔗 https://lnkd.in/dZ6NT458 Featuring: Pocketed Grant Platform Founded by Aria Hahn & Brianna Blaney Traders Central NFTX Founded by Alex Gausman Red Thread Ventures Founded by James Mark Mitchell & Sean Hodgins RiskMetrics Group Holdings LLC Synergist Wealth Empress Royalty Corp. Decentral Park Capital Founded by Eric Kasanowski RAYL Innovations Inc. Canada Finances Restack Founded by Anthony Paes-Braga & Paul Kevener These companies, among others, are the lifeblood driving Vancouver's explosive financial startup sector. Their undying spirit to innovate and revolutionize the financial industry is nothing short of inspiring. 𝗖𝗼𝗻𝗻𝗲𝗰𝘁, 𝗲𝗻𝗴𝗮𝗴𝗲, 𝗮𝗻𝗱 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲𝗶𝗿 𝗶𝗻𝘁𝗿𝗶𝗴𝘂𝗶𝗻𝗴 𝘀𝘁𝗼𝗿𝗶𝗲𝘀 𝗶𝗻 𝗼𝘂𝗿 𝗮𝗿𝘁𝗶𝗰𝗹𝗲. #VancouverStartups #FinancialInnovation #Fintech #Startups #CanadianInnovation

Scalable Capital Raises €60 Million to extend his Series E. Munich-based #fintech startup, Scalable Capital, is making waves with its latest funding round, securing a substantial €60 million ($65 million) in equity. Led by Balderton Capital and supported by HV Capital and other undisclosed existing backers, this injection of capital propels Scalable Capital's valuation to a flat $1.4 billion. From its origins as a digital wealth management platform, Scalable Capital has evolved into a full-service brokerage, offering a diverse range of financial products. With 1.2 million customers and nearly €17 billion under management, the platform provides access to investments in stocks, ETFs, funds, bonds, cryptocurrencies, derivatives, and loans. The startup has become a go-to destination for users looking to invest in 8,000 stocks, 2,500 ETFs, and 3,500 funds, emphasizing the popularity of ETFs among its user base. The new funds will fuel Scalable Capital's expansion across six European countries where it's already active: Germany, Austria, Italy, France, Spain, and the Netherlands. Despite the financial challenges faced by startups in the current market environment, Scalable Capital's co-CEO, Erik Podzuweit, is confident that this round will enable the company to be more aggressive in its approach, including marketing efforts and top talent acquisition. Scalable Capital's latest funding round comes at a time of heightened competition in the neobroker space. Recent entries like Robinhood expanding into Europe and Trade Republic securing a full banking license highlight the dynamic landscape. While acknowledging the competitive market, Scalable Capital is holding steady and focusing on building products and exploring new markets, without an immediate pursuit of a banking license. Balderton general partner Rana Yared joins Scalable Capital's board with this round, expressing confidence in the startup's vision. Scalable Capital's commitment to providing top-class financial products in a digital-first approach makes it unparalleled in the market, according to Yared. This is a wonderful news for the European fintech market, once believed to be saturated. I strongly believe that good product will always find their place in this industry. The news on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/bI4JY  - Substack: https://lnkd.in/dzfGJzmW

🚀 Here's the regular weekly on the most interesting early stage activity across 🇪🇺 and 🇪🇺 VCs 👇 (& much more detailed write-up linked in the comments section 👀): 1️⃣ Qomodo 🇮🇹 (fintech)'s goal is to disrupt the payments sector by building out a host of solutions for offline merchants including b2b BNLP. 💰 Raises 34.5 mil. EUR pre-seed from Fasanara Capital, Octopus Ventures, Notion Capital, Plug and Play Tech Center Primo Ventures Lumen Ventures, Proximity Capital. 2️⃣ Langfuse (YC W23) 🇩🇪 (dev tools) is a Y-combinator startup based in Berlin that “equips dev teams with open-source observability and analytics tools to seamlessly bring LLMs into production”. 💰 Raises 4 mil. USD seed from La Famiglia, Lightspeed and Y Combinator 3️⃣ Daytona 🇭🇷 (dev tools) is an “enterprise-grade, secure, scalable, and standardized Development Environment Management platform”.  💰 Raises 2 mil. USD pre-seed from 500 Emerging Europe, Tiny Supercomputer Investment Company, Silicon Gardens & Firestreak Ventures 4️⃣ Prosper 🇬🇧 (fintech) launched by fintech veterans Ricky Knox; Prosper aims to disrupt the traditional wealth management propositions. 💰 Raises 3.2 mil. GBP pre-seed from a host of fintech 😇 angels including Tom Blomfield and Charles ▫️ Delingpole. 5️⃣ Integration.app (dev tools) is an "AI-powered Integration Stack for Your App". 💰 Raises 3.5 mil. USD seed co-led by Crew Capital and Cortical Ventures with participation from Seedcamp, Accel Starters 6️⃣ Due 🇬🇧 (fintech) is a global business payments platform using stablecoins and blockchain technology to bank businesses worldwide. 💰 Raises 2.7 mil. GBP seed from Semantic Ventures, Fabric Ventures, Speedinvest, Polymorphic Capital and BlockTower Capital.

In an age where decentralized networks redefine our world, the way we evaluate startups is undergoing a radical shift. 🌐💡 Traditional startup valuation metrics become irrelevant. In the #Web3 universe, it's all about deep-rooted understanding, beyond surface-level numbers. How do you assess the worth of a protocol that's decentralizing finance or a game-changing the very way we view entertainment? The answer is here 🔗 https://bit.ly/44cGBjE InnMind

Navigating through the storm. How to build a startup when VCs are on hold Read full article here: https://lnkd.in/d7B6DJxS The road to securing venture capital (VC) funding can feel like navigating through a tempestuous storm now. However, this does not mean you should postpone your dreams and ideas. Quite the contrary, it's an opportune moment to rally your community, convert its members into contributors, and secure your initial funding while maintaining control over your project's destiny. 🤝 Building a Community: The Key to Success Your community is a group of like-minded individuals who share values and interests in your project. By nurturing this community, you can turn members into contributors. 🔄 Conversion through Retention Retention is the name of the game. It's about forging lasting relationships with community members, encouraging them to actively participate, and even fund your project. ⚡ Embracing the Power of Starting Small Forget the one big funding round. With a Decentralized Autonomous Organization (DAO), you can establish a continuous funding mechanism, aligning with the principles of blockchain and decentralization. 🔐 Fostering Trust Amidst Uncertainty In a volatile market, trust is invaluable. A DAO showcases your commitment to transparency and inclusivity, building trust within your community and among potential investors. 📈 Credibility through Onchain Operations History Just like a good credit score, your onchain operations history becomes a testament to your project's credibility and progress. It boosts confidence among investors and contributors. 💼 Harnessing Transparency for Confidence and Fundraising A well-documented history of operations demonstrates your project's real progress. It's your proof of pudding, increasing confidence and attracting more support. 💡 Minimizing Costs and Expanding Horizons DAOs streamline operations, reducing costs compared to traditional legal entities. These savings can be reinvested in your project's growth or shared with the community. 🔄 Breaking Free from the Big Round Paradigm Traditional startup wisdom often revolves around a big funding round. A DAO allows for a continuous funding mechanism, decentralizing ownership and responsibility. 🌐 Setting a New Course with DAOs As traditional funding sources remain uncertain, DAOs offer a compelling alternative. Now is the time to explore the future of organizations with Aspis Protocol! Ready to launch your project DAO? 🚀 Fill out the form here:https://lnkd.in/drVUbduM and embark on a new journey!

2024 Venture International Market Outlook, Major Key. Navigating the Future: A Strategic Outlook for Startups As we enter 2024, the economic landscape presents a unique mix of challenges and opportunities. At Major Key, we've been actively guiding our portfolio companies to navigate through these turbulent times. Our focus? Identifying the resilient and robust players who can thrive in adversity. Key Strategic Focuses for 2024: 1. Enhanced Sales Pipeline Visibility: Anticipate longer deal closures, both in corporate and government sectors. A robust pipeline can mitigate the risks associated with delayed or withdrawn agreements. 2. Critical Cash Flow Management:Precision in cash forecasting is now a make-or-break skill for startups. It's vital to have adept financial teams and strict control mechanisms. Startups need to brace for the impact of increased burn rates if revenue targets aren't met. 3. Evolving Fundraising Landscape:*The pace of venture capital fundraising has shifted. Although the rhythm of investment may have slowed, exceptional teams will always find funding. Adaptation to this new reality is essential for founders hitting the fundraising trail in 2024. 4. Cost Management as a Priority:Lean operations continue to be crucial. We advise companies to remain vigilant in cost management, even if it means additional cutbacks. In the current climate, maintaining a healthy cash reserve is more critical than ever. Market Dynamics and Predictions: - Generative AI: The Gen AI chip market is poised to hit over $50 billion. We anticipate widespread integration of Gen AI across enterprise software, potentially boosting revenues significantly. - EU Regulations on AI: The impending AI regulations from the European Union will be a balancing act between compliance and innovation. Smart policy-making could foster a supportive investment climate. Blockchain and Crypto Market Insights: 1. Crypto Market Prospects: The year 2024 holds promise for the crypto market, with potential growth and new opportunities. 2. Bitcoin's Anticipated Surge: The upcoming Bitcoin halving event is expected to act as a bullish catalyst, historically leading to significant price increases. 3. Ethereum’s Potential: Ethereum’s strong price outlook and successful shift to a proof-of-stake model positions it as an attractive investment. 4. Diverse Altcoins: The altcoin sector, featuring XRP, Solana, and innovative newcomers like Pi Coin, contributes to the market’s diversity and inventiveness. 5. Growing Crypto Adoption: Despite regulatory hurdles, the continued rise in crypto adoption sets the stage for an exciting potential bull run. Reflecting on Experience: Drawing from my insights shared at the Invest Man event in Kiev, November 2023, it's clear that adaptability, strategic foresight, and a deep understanding of evolving market dynamics are key to thriving in 2024's venture landscape.

Introducing Launchpad XYZ: the ultimate platform for discovering new startups and their groundbreaking ideas, your gateway to enter the realm of innovation and join the journey of tomorrow's success stories. Hurry up and join the revolution! #LaunchpadXYZ #Startups #Innovation  

"A new fund, Destiny Tech100, is offering a publicly traded fund that contains shares of 23 private tech companies including Stripe, SpaceX, OpenAI, Discord and Epic Games. The fund, which began trading on the New York Stock Exchange last week, plans to expand its holdings to include stock in 100 start-ups. Sohail Prasad, the chief executive of Destiny XYZ, the parent company of the fund, said his goal was to let anyone own part of the tech industry’s top private companies. “We have tens of thousands of individual investors that are now shareholders in these companies,” he said. The fund has also bought shares in Stripe and Plaid, a financial technology provider, through “forward contracts.” In these agreements, start-up employees can get cash by agreeing to transfer their company shares to an investor when the company goes public or sells. Mr. Prasad was a founder of Forge, one of the marketplaces for private tech stocks, in 2014. He said he started Destiny in 2020 to give people like his father, a management consultant in Texas, access to high-growth start-ups. Mr. Prasad raised $100 million in funding from investors including a variety of start-up founders like Fred Ehrsam, a founder of Coinbase, a large cryptocurrency exchange; Charlie Cheever, a founder of the question-and-answer site Quora; and Heather Hasson, a founder of FIGS, a medical apparel provider. Destiny Tech100 has a market valuation of about $365 million. After the companies it has invested in sell or go public, the returns from those investments can be distributed to shareholders as a dividend or reinvested in the fund. Mr. Prasad said the fund planned to hold the stocks for a time after a company goes public. The fund charges an annual fee of 2.5 percent." ----------------------------------------------- Matt Levine at Bloomberg's 4/9 take -- Okay. But here is what is wild about it: The portfolio is worth $52.6 million, give or take, or about $4.84 per share. That value is uncertain (it is based on subjective valuations, as the portfolio companies by definition do not trade publicly) and a bit stale (as of December), but it’s probably close enough. The stock opened, in the direct listing, at $8.25 per share. It closed yesterday at $99.79 per share, for a market capitalization of almost $1.1 billion. (It’s down today.) That is a 1,961% premium to net asset value. That just seems very high? It is nice, in theory, to say that this fund gives ordinary investors access to startups before they go public and “their growth has often slowed and their valuations are high.” But with that premium, this fund gives ordinary investors access to startups at 20 times their current valuation.