2020…the year of the pandemic. We’ve seen a tremendous amount of human loss and hardship,…
News, Portfolio, Version One
2021 might be remembered as the year the world started to fully embrace the opportunity that the technology sector has to offer… Start-up funding hit an all-time high as did fundraising for new VC funds (coincidentally, we also raised two new funds for a total of $100m in fresh capital). Round sizes increased significantly across […]
2020…the year of the pandemic. We’ve seen a tremendous amount of human loss and hardship,…
This has been a critical year for us at Version One, as well as our…
2021 might be remembered as the year the world started to fully embrace the opportunity that the technology sector has to offer…
Start-up funding hit an all-time high as did fundraising for new VC funds (coincidentally, we also raised two new funds for a total of $100m in fresh capital). Round sizes increased significantly across all stages, as did valuations. Every company is now a tech company and multiple technology cycles are going on at the same time – from mobile and cloud to AR/VR, crypto and climate. Society’s newfound reliance on virtual interactions reduced the importance of location: geography is no longer a limiting factor for companies to access the best talent and raise capital from the best possible investors (and consequently, we officially announced that we are now investing globally). We have seen more and more interest from people working in tech to become founders and pursue their passion with their own start-ups. All in all, the amount and pace of innovation has never been more exciting and it feels that we are entering a golden decade for technology.
The incredible pace of the start-up market in 2021 is also reflected in the Version One portfolio:
When markets are moving and changing at such a rapid pace, it becomes even more important to separate signal from noise. Our North Star remains to invest in mission-driven founders at the earliest stages. Raising capital may be easier than ever before, but building a generational company hasn’t gotten any simpler. Companies still need to evolve their narrative and vision over time, successfully shift from one to multiple products, build a high performing leadership team, retain their entrepreneurial culture while scaling, etc. We strongly believe that founders with the highest likelihood to succeed are the ones who have a clear vision of how the world/industry could be better, are obsessed with bringing that vision to life, and can translate that obsession into an inspiring mission.
Looking ahead, we believe that four investment themes will drive most of the change and growth over the next decade: the digitization of everything (SaaS & marketplaces), decentralized platforms (Web 3.0), the carbon-neutral economy (climate & energy) and the rise of the rest (start-up ecosystems outside of North America). And we’re excited that we will be investing aggressively against all four!
Data / AI / ML
This November marks three years since the launch of ChatGPT. That moment brought AI into the mainstream, with large language models (LLMs) seen as the breakthrough technology powering it. Since then, innovation in AI has been relentless — perhaps one of the fastest cycles we’ve ever witnessed in tech. It’s worth pausing to reflect on […]
It’s hard to believe that it has been three years since my first day at…
“It takes 10 years and $30m to become a great investor.” This quote has stuck…