2012 Recap and Final Close at $19M

By boris, February 21, 2013

While crunching the data and reflecting on the past year, it’s clear that 2012 was busy. Version One Ventures made eleven investments, including three angel investments that rolled over into the fund.

Here are some of the more interesting details to share about our activity in 2012:

  • Version One invested more than $2.5M in 2012
  • Our focus centered around three investment areas: e-commerce (Frank & OakJulepInstacanvas), SaaS (JobberTop Hat Monocle), and marketplaces/platforms (tindieGroupTalentClarity) – with a relatively equal split across all three areas
  • Investments were roughly 50% B2C, 50% B2B – this was the highest share for B2B investments since I started (angel) investing 6 years ago
  • 2/3 of 2012 investments were seed deals and 1/3 were Series A
  • Version One companies were a 50/50 split between the U.S. and Canada… with startups in the Bay area, Edmonton, Los Angeles, Montreal, New York, Portland, Seattle, Toronto, and Vancouver.

 

Announcing Version One’s final close

In addition to wrapping up 2012, I’m happy to announce the final close of the Version One Ventures fund with $19 million in committed capital. Our original target was $10M, so I’m extremely grateful at the confidence our investors placed in the fund. In addition, I’m particularly excited that this final close includes an institutional investor, the Business Development Bank of Canada (BDC) – their announcement can be found here.

Moving forward, we’re continuing our focus on e-commerce, SaaS, and marketplace opportunities in the Seed or Series A stages. It is still early times for the web and we’re excited to work with great entrepreneurs looking to change their industry or the world.

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  • http://startupcfo.ca/ Mark MacLeod

    Solid first year Boris. Congrats!

  • http://twitter.com/bwertz Boris Wertz

    Thanks, Mark!

  • http://whoyoucallingajesse.com/ Jesse Rodgers

    Exciting stuff Boris. Congrats

  • http://twitter.com/bwertz Boris Wertz

    Thanks, Jesse – now we have to find a deal to invest together in…

  • http://twitter.com/pdlocke Peter Locke

    Good to catch up yesterday Boris. Great demo day and congrats on all the progress.

  • http://twitter.com/bwertz Boris Wertz

    Thanks, Pete!

  • Pingback: B.C. super angel Boris Wertz keeps on trucking, raises another $4M for Version One | 5 For Business()

  • http://twitter.com/lloyedlobo Lloyed Lobo

    Congrats all the great work and results!

  • http://twitter.com/victorialevine Vicki

    Congrats Boris! We still need to do coffee soon – let me know when you’re in NY

  • http://twitter.com/bwertz Boris Wertz

    Thanks, Vicki – probably out in NYC mid-April, look forward to catching up!

  • http://whoyoucallingajesse.com/ Jesse Rodgers

    That would be good. Hope we can connect next time you are in Toronto. Sorry I missed you last time.

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  • http://twitter.com/donnelly_b Brandon G. Donnelly

    Congrats! Go Canada.