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).…
We’re excited to announce our investment in EnPowered, an on-bill payment platform designed to make it easier for businesses to invest in energy-efficiency projects. We co-led their $12M seed raise, along with our friends at Golden Ventures and Inovia. Great technologies exist to help businesses reduce their electricity usage, emissions,…
Building a successful investment franchise over the past few decades required finding a distribution advantage as products have been mostly undifferentiated. The largest and most successful US franchises — Blackrock (founded 1988), Vanguard (founded 1975), and Fidelity (founded 1946) — are now managing close to $20 trillion in assets. While…
When I started Version One Ventures in 2012, every experienced VC shared the same rule of thumb: we had to return 3x net consistently to stay in business (i.e. 3x the invested capital net of fees over a period of about ten years for a net IRR in the low…
Today we are very excited to announce our investment in the Ethereum developer platform Tenderly. We participated in Tenderly’s $3.3M Seed round earlier this year, as well as their recent $15.3M Series A round. The Series A is led by Accel, with participation from Point Nine Capital (who led their…
