As the year comes to an end, it’s a natural time to pause and reflect on what we’ve done and where we’re headed.
2013 was busy for Version One. We made 3 new investments: Figure 1, a photo-sharing network for medical professionals; Upverter, a cloud-based hardware engineering platform; and one unannounced investment. These new investments bring the total number of portfolio companies to 14. We also participated in 6 follow-on deals this year to further support our portfolio.
And in 2013, Version One got its first analyst, with the hiring of Angela Tran Kingyens. This not only doubled our size, but also bolstered our physical presence in Silicon Valley. We now have Boris in Vancouver and Angela in Palo Alto.
Today and tomorrow
Here’s a snapshot of where Version One stands today:
- Out of our 14 total investments, 10 are seed and 4 are Series A.
- Current portfolio companies are spread out amongst e-Commerce (Frank & Oak, Julep); SaaS (Front Desk, Jobber, Top Hat, GroupTalent); Marketplaces (Clarity, Kinnek, Tindie, Twenty20, one unannounced); and Platforms (Talentbuddy, Upverter, Figure 1)
- We remain geographically agnostic; 8 portfolio companies are located in Canada and 6 in the U.S.
Moving forward, we will continue to focus on e-Commerce, SaaS, marketplaces, and platforms, but there are a few areas that we are particularly excited about.
Figure 1 represents our first healthcare investment and we’re very bullish about this segment. Healthcare has always been a conservative sector, but it’s primed for some dramatic changes, especially behind the scenes as technology and the cloud will help providers work smarter, faster, and more collaboratively. The right tools will bring together professionals, as well as patients, to generate faster and more effective diagnoses.
There’s also a massive opportunity for B2B marketplaces to replace paper-centric, error-prone supply chains for small businesses. New B2B startups can improve on earlier versions by lowering the costs of transactions and helping identify the right suppliers and products.
Other specific areas of interest include Bitcoin (more as a protocol/platform than currency), mobile SaaS, and machine learning. Above all, we are looking forward to working with great entrepreneurs looking to change their industry or the world.
Finally, thanks to our network of supporters (our LPs, our colleagues, our partners, our portfolio companies, our friends, and our followers) for a great year. We wish you all a wonderful holiday season and best wishes for 2014!
-Boris & Angela