Q2 2024 Portfolio in Review

We’ve officially hit the halfway point of 2024, and all we can say is… wow, this year is flying by. The entire V1 family has been pushing, hustling and going all-out, so we’d like to recognize some of the milestones and accomplishments from this quarter. As we say in every recap, this represents the tip of the iceberg; there’s a lot going on behind the scenes that we can’t talk about publicly (yet).

Here’s a quick summary of some of the action in Q2:   

Bedrock Materials raised $9m to build the first sodium-ion battery; we co-led this round with our friends at Refactor and Trucks.vc. You can read more about Bedrock’s mission on TechCrunch, and check out our blog to see why we’re so excited about this opportunity. 

Dinari continues to roll out new dShares in public companies like Uber, Cisco, Adobe and Broadcom. Stay tuned for upcoming waves of dShare additions. 

Gencove shared a practical approach to AI in genomics and the solutions they’ve built. As they summed up: tl;dr: just use it as any other tool and see if it makes things work better. Unexpected insights may emerge along the way.

Ether.Fi announced Super Symbiotic LRT which allows users to deposit any kind of LST token and earn Symbiotic points, ether.fi points, and Veda points. You can find more details here

Arweave launched the AO Protocol, a decentralized open-access supercomputer inspired by the actor-oriented paradigm. With it, they launched the AO Ecosystem Fund, a $10m investment vehicle that targets early-stage projects within the AO ecosystem.

Antimatter launched its new product, Universe. Students on Universe can teach the world through memes and earn rewards for their creations. 

NCX introduced a new series called Natural Capitalist, providing a deep dive into the natural capital market. You can check out their first episode: Should you choose fixed payments or revenue share?

Coinbase launched its smart wallets, which don’t require seed phrases or the downloading of a browser extension or an application. It’s got the potential to bring a billion users onchain. 

There were several exciting new releases from Shippo this quarter, including multi-piece shipping for UPS, USPS enhancements and an easier return process. You can read all about them on Shippo’s blog

Nexus Mutual celebrated its 5th birthday! They’ve been live on Ethereum main-net for 5 years, growing to over $300m of ETH in the capital pool and with $18m in claims paid, from the likes of FTX, Rari, BlockFi, Cream and many other hacks.  

Two portfolio companies joined forces. Headout acquired Dabble to bring a new generation of AI-powered travel experiences for Headout users.

Cape Privacy introduced Cape Enterprise, Agnetic Workflow automation across all data. Quickly build no-code Agnetic Workflows to automate manually intensive business processes to save time and money. 

Ada launched its CS AI agent. You can try it for free

And, Replay officially migrated from Firefox to Chrome

And last but not least…in case you missed it, we recently updated our investment thesis. When evaluating an investment opportunity, we like to ask why now, why not, and what’s possible. In particular, we are spending more time in deep tech (you can read more about it here).

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Happy Canada Day and Happy 4th of July for those who celebrate. Have a wonderful summer!

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