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What’s New @ Alumni Ventures — Issue #1

We share important news happening at Alumni Ventures, including recent portfolio updates and exits

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Deliverr acquired by Shopify for $2.1B, Logistyx acquired for $185M, Jeeves $180M Series C, and updates on our 10KE Entrepreneurs Program.

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Recent Exits

Deliverr was acquired by Shopify for $2.1 billion. The company offers a tech-enabled fulfillment service for online merchants. AV participated in multiple rounds raised by Deliverr. Spike Ventures sponsored our most recent investment in a $250 million Series E led by Tiger Global. Other AV Funds invested in Deliverr include Nassau Street Ventures and our Total Access Fund.

Logistyx was acquired by E2open for $185 million. The company offers manufacturers, retailers, and logistics multi-carrier shipping software for global parcel delivery. AV’s investment in Logistyx was sponsored by Green D Ventures.

Portfolio Fundraising News

Capella Space recently announced a $97 million Series C led by NightDragon. Capella’s synthetic aperture radar satellites offer broader visibility than traditional satellites.

AV Funds Invested in Capella Space: Spike Ventures, Blue Ivy Ventures, Castor Ventures, Chestnut Street Ventures, Congress Avenue Ventures, Strawberry Creek Ventures, Towerview Ventures, 116 Street Ventures, Total Access Fund

Jeeves announced a $180 million Series C. AV co-invested in the round alongside Andreessen Horowitz, Silicon Valley Bank, and others. Jeeves is a Y Combinator alumni that offers a cross-currency expense management platform for startups.

AV Funds Invested in Jeeves: Spike Ventures, Triphammer Ventures, Westwood Ventures, Total Access Fund

Madison Reed announced a $33 million Series G led by Sanbridge Capital. Jay-Z’s Marcy Venture Partners also participated in the round. Madison Reed offers premium at-home hair color products.

AV Funds Invested in Madison Reed: Green D Ventures, Total Access Fund

Portfolio Companies in the News

Deserve secured a $250 million credit facility from Goldman Sachs and other institutional investors. The digital-first credit card platform will use the funding to meet the growing demands of financial firms, fintechs, and consumers.

AV Funds Invested in Deserve: Spike Ventures, Bascom Ventures, Blue Ivy Ventures, Castor Ventures, Chestnut Street Ventures, Congress Avenue Ventures, Green D Ventures, Nassau Street Ventures, 116 Street Ventures, Purple Arch Ventures, Strawberry Creek Ventures, Triphammer Ventures, Waterman Ventures, The Yard Ventures, Total Access Fund

Epicore Biosystems recently acquired the assets of Eccrine Systems. The deal came just a few months after Epicore announced a $10 million Series A. Epicore’s wearable sensing platform analyzes sweat to deliver data on hydration and health. AV’s co-investors in Epicore include Chevron, PepsiCo, the U.S. Air Force and Army, and the National Institutes of Health.

AV Funds Invested in Epicore Biosystems: Purple Arch Ventures, Castor Ventures, Deep Tech Fund, Total Access Fund

Good News @ AV

AV’s 10,000 Entrepreneurs (10KE) program awarded 25 scholarships to undergraduate students pursuing entrepreneurial endeavors this summer. Since 2019, the 10KE program has awarded 85 scholarships to undergraduates who are founders or are pursuing summer internships with startups or other high-growth companies. Among this year’s recipients, 64% identify as women, while 88% identify as underrepresented races and ethnicities. Read More »

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Contact [email protected] for additional information. To see additional risk factors and investment considerations, visit av-funds.com/disclosures.

1For illustration purposes only. These investments are not intended to suggest any level of investment returns; not necessarily indicative of investments invested by any one fund or investor. Many returns in investments result in the loss of capital invested. These investments are not available to future fund investors except potentially in certain follow-on investment options. To see the performance of each exited investment for all Alumni Ventures funds over the last twelve months and our historical performance since 2014, click here.

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Alumni Ventures

Alumni Ventures is a network-powered VC firm that helps accredited individuals invest in venture capital.

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Alumni Ventures is America’s largest VC firm for individual investors based on the combination of total capital raised, number of investments, and number of investors of leading VC firms as reported by Pitchbook and other publicly available information reviewed by AV.

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