Wednesday, April 14, 2021








Next Wave Impact Announces Semi-Finalists for 2021 Founders of Color Showcase

GLENWOOD SPRINGS, Colo., April 13, 2021 /PRNewswire/ -- The field of innovative startup companies has narrowed from dozens of nominees to 12 remaining semi-finalists hoping to pitch their companies in Next Wave Impact's second annual Founders of Color Showcase on May 3, 2021. By hosting this virtual event, Next Wave Impact, a global impact investor syndicate with more than 200 women investors, offers startup leaders a platform to exhibit products and services to a broad audience of investors, funds and angel groups. Continue Reading Marcus Bullock, founder of Flikshop, a 2020 Founders of Color portfolio company. "Fueled by a commitment to reverse the limited opportunity for talented female, black and Latino CEOs who want to scale their businesses, the Founders of Color Showcase provides the kind of exposure needed for that boost," said Alicia Robb, founder of Next Wave Impact. "This year's applicants are disrupting their industries and we're grateful to have the opportunity to amplify their voices." Next Wave Impact will highlight all 12 semi-finalists in the Founders of Color Showcase program on May 3, 2021 at noon PT/3 p.m. ET. The top 5 to 7 finalists, announced on April 20, 2021, will present their companies at the event, with the potential for growing their network and creating new syndication partnerships. The 2021 semi-finalists are: Janna Westbrook of Provider Pool Kwaku Owusu and Melanie Igwe of DrugViu Debbie Chen of Hydrostasis Clarence Tan and Edna Martinson of Boddle Learning Vanessa Castañeda Gill of Social Cipher Ruben Arias and Luis Gringras of Beereaders Diana Yousef of change:WATER Labs, Inc. Troy Clarke and Calvin Mackie of Golden Leaf Energy SaLisa Berrien of COI Energy R. Jerry Nemorin of LendStreet Sonja Ebron and Debra Slone of Courtroom5 Kim Roxie of LAMIK Beauty At the inaugural showcase in 2020, the 10 finalists – all founders of color – gained exposure to more than 200 investors from the early-stage investing ecosystem. They went on to raise millions of dollars last year. Next Wave Impact partnered with Loon Creek Capital to set up Special Purpose Vehicles (SPVs), which brought nearly $1,000,000 in investments to five of the finalists. View the full program from the May 11, 2020 Showcase here and the recording from the event here."Next Wave Impact's Founders of Color Showcase allowed us to be who we are - a social impact solution for our farmers in the USA and across the world," says Martha Montoya, founder of AgTools, a 2020 Founders of Color portfolio company. "Selected through Microsoft to work with UN and women farmers across the world this summer is only one of the highlights Next Wave Impact brought to us. Gracias!!! You are all a blessing!""We had an incredible time pitching and learning from other founders during the Founders of Color Showcase," shares Marcus Bullock, founder of Flikshop, also a 2020 Founders of Color portfolio company. "It was awesome listening to the thoughtful questions that would eventually land us investment from more than check-writers. We gained partners."Currently, only a tiny fraction of angel and venture capital investments go to women and people of color. By tapping into Next Wave Impact's syndicate of investors, more underserved entrepreneurs gain access to capital for the purpose of scaling their businesses.  Co-hosts of the second annual Founders of Color Showcase include Kachuwa Impact Fund, Beta Boom, Fundr, Stella Angels, Founders First, Women 2.0 and the Angel Capital Association. Company Champions include Chloe Capital, Avestria Ventures, Ad Astra Ventures, Pax Angels, Groundswell Ventures, Atento Capital, Sputnik ATX, New Orleans Startup Fund, Precursor Ventures, SheEO, AT&T Aspire Accelerator and the International Accelerator. Showcase sponsors include Aspiration, Anchor Point Foundation, Kauffman Foundation, Stella Labs, Signature Windows, Clean Energy Credit Union, Eleanor Friedman Fund, Ascent CFO Solutions and Loon Creek Capital.The virtual Founders of Color Showcase on May 3, 2021 is free to attend. To register, please visit Next Wave ImpactBased in Colorado, Next Wave Impact is a movement driving impact, diversity and inclusion in early-stage investing and the entrepreneurial ecosystem through its innovative learning-by-doing progressive fund model and other activities that drive capital to typically underserved entrepreneurs. Learn more at Enriquez805-816-4833 – cell[email protected]SOURCE Next Wave Impact



US Venture Mega-Deals Spike in Q1 Fueled by Record Nontraditional Investor...

To download the full report and data packs, please click here. PitchBook and NVCA will also be hosting a webinar in partnership with Silicon Valley Bank and Secfi on May 5, 2021 from 10:00 – 11:00 am PDT. Please click here to register. "On the heels of an unpredictable yet record-setting 2020, the US venture ecosystem is off to a strong start in the first quarter of 2021. Elevated VC activity across investments, fundraising and exits are already on track to set new records by the end of the year," said John Gabbert, founder and CEO of PitchBook. "With record levels of VC fundraising in 2020 and dry powder still sitting at all-time highs, investors continue to write ever-larger checks at both the early and late stage, which has only been fueled further by nontraditional investors looking to capitalize on the VC investment universe and valuation growth before liquidity." "The US venture industry started off 2021 with a record quarter, possibly heralding a strong year for startups across the country. As the nation recovers from the COVID-19 pandemic, high-growth startups are well-positioned to help the economy recover and grow," said Bobby Franklin, President and CEO of NVCA. "A key opportunity for US VC and startups will be if the new Biden Administration and Congress enact key policies crucial to the startup ecosystem as they pursue the president's Build Back Better agenda. Investments into infrastructure, climate, and research and development have the potential to help spur new company formation, if implemented correctly. NVCA will continue to work hard to engage Capitol Hill on key areas of upcoming policy proposals that could benefit the venture industry."Investment Activity VC deal activity saw $69.0 billion invested across an estimated 3,987 deals in the first quarter of 2021. Following an uptick during the second half of 2020, angel and seed deal financing momentum continued in Q1, tracking the highest quarterly total of deals and topping $2.5 billion in deal value for the fourth consecutive quarter. Early-stage VC deal activity has continued to operate from a position of strength in Q1, quickly rebounding from the struggles of the pandemic and tracking to exceed the record levels seen over the last few years. Late-stage investment saw more than $51.9 billion deployed across an estimated 1,291 deals, the largest quarterly total for last-stage capital investment ever recorded. Mega-deals closed at an extraordinarily rapid pace in the first quarter with 167 completed deals representing $41.7 billion in capital investment. 2021 is on track to easily set a new annual record for mega-deals on both a count and value basis. The first quarter of this year also recorded a handful of billion-dollar deals that contributed to the new record including the $3.4 billion fundraise by Robinhood and $2.7 billion Series F raised by electric automaker Rivian Automotive. As for nontraditional investment activity, Q1 is projected to be the most active quarter on record following record participation in venture in 2020 for both deal count and deal value. The activity of these investors has helped drive the trend of companies staying private longer to raise more capital and continue to grow. Fundraising ActivityUS venture firms raised $32.7 billion across 141 vehicles in the first quarter of 2021. At this pace, bolstered by the increase in mega-funds ($500 million+), fundraising in 2021 is on track to exceed $100 billion for the first time ever. 13 mega-funds were raised in 2021 thus far, with billion-dollar funds accounting for 44.8% of all capital raised in Q1. When combined with a significant contraction in small micro-funds (under $50 million), mega-funds have pushed the median and average fund size to $80.0 and $235.2 million, respectively. Notable VC mega-funds that closed in Q1 include TCV's Fund XI of $4.0 billion (the largest VC fund raised since Sequoia Capital's Growth Fund III of $8.0 billion in 2018), Bessemer Venture Partners' Fund XI of $2.5 billion, Bond Capital's Fund II of $2.0 billion and ARCH Venture Partners' Fund XI of $1.9 billion. Continuing a trend brought on by the pandemic in 2020, first-time fundraising continued to struggle in Q1 2021 as general partners (GPs) raising first-time funds experienced notable difficulty with LPs tending to favor and commit capital to those with strong previous relationships and solid past fund performance. In Q1, only $1.4 billion was raised by first-time VC managers across 25 funds, while seven VC firms raised individual funds in Q1 that each exceeded the aggregate $1.4 billion raised by first-time funds, further cementing the success that established managers have found during the pandemic.  Exit Activity VC exits remained strong similar to the rest of the ecosystem with $118.1 billion becoming liquid in the first quarter of the year across an estimated 447 exit events. Outlier transactions are crucial in retaining the recent levels in exit value, with 2021 already seeing a few headline-grabbing exits. The largest exit of the quarter was Roblox's direct listing, valued at $41.9 billion. The broader public listing market also remained robust in the first quarter and dominated total exit value at 90.1% of quarterly exit value. There were several notable traditional IPOs during the quarter including point-of-sale lender Affirm, health insurance startup Oscar and platform-as-a-service provider Tuya Smart, which were valued at $10.6 billion, $6.5 billion and $10.8 billion, respectively. While these IPOs were the most valuable, biotech & pharma startups sustained exit momentum from 2020 with 24 exits (representing 48% of the total public listings in the first quarter) to the public markets via either traditional IPOs or SPAC combinations. Over a year into the recent explosion of SPAC IPOs, the acquisition activity by these blank check vehicles has finally started to trickle in. Notable deals that closed include Clover Health, Chargepoint, Metromile and AppHarvest. With dozens of other deals announced, SPAC acquisition activity should continue gaining momentum and have a material effect on exit valuations and late-stage VC valuations. The full report will include the following components: Executive summary NVCA policy highlights Overview Angel, seed & first financings Early-stage VC Late-stage VC Regional spotlight Deals by sector SVB: Attracting and retaining pre-partner talent Female founders Nontraditional investors Venture debt Secfi: Why startup equity is the next untapped market Exits Fundraising Methodology To download the full report, click here.  About PitchBook PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company's data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York and London and serves more than 50,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.About National Venture Capital Association The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the US venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit SheetShai Goldman, Managing Director of Venture Capital Relationship Management, Silicon Valley Bank"General partners are opening the aperture when it comes to the experience they look for in pre-partners. De-emphasizing the importance of a rarified set of credentials means venture capital firms can access a much more diverse array of pre-partner talent — people with varying perspectives, backgrounds and experiences who can add substantial value."Frederik Mijnhardt, Chief Executive Officer, Secfi  "2020 was the most active year for IPOs ever in the US and Q1 of 2021 is proving the gold rush will continue. But many startup employees — the builders of these companies — are left empty-handed simply because they can't afford the upfront cost to exercise their stock options. Last year alone they left $5 billion on the table. With new tools to understand their options, and how to exercise them, they have the chance to be a part of the success continuing to unfold in 2021."Patricia Nakache, General Partner, Trinity Ventures"2021 is off to a promising start for the industry. With vaccinations well underway in the US, investors are now open to doing post-COVID deals, considering which changes made during the pandemic are permanent and which will prove to have been temporary. Robust equity markets also hint that this will be another strong year for exits, which bodes well for both IPOs and SPACs."Dana Settle, Co-Founder & Partner, Greycroft "We continue to see record levels of deal activity going into 2021, which is exciting for entrepreneurs building the next generation of businesses. The pandemic has fueled innovation and brought new ideas and new ways of operating to the forefront, and this is being supported by robust investment activity. However, we must not lose sight of the need to bring more female founders into the mix."SOURCE PitchBook Related Links


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