|Prenatal testing for every expecting mother||Raises Series A
Raises Series B.
Raises 125M Series C
|2017 October||Locus Biosciences|
|CRISPR-Cas3 Biotech Drug Development||Announces 818M deal
6B shot at making new antibiotics. WIRED
2022 35M financing round
|2018 February||Orphidia||Universal Platform For All Blood Tests||Technically bankrupt.|
|2018 March||Mycroft AI||Alternative to Amazon Alexa. Opensource||Operating|
|2018 October||Wisp||D2C for preventing Herpes||My first real EXIT. 21x in 3 years
Public telemedicine company acquires WISP
|2019 January||Find a lawyer||Lawyers marketplace||Bankrupt|
|2019 January||EvoEstate (investor and founder)||Real Estate investment platform||Merged with InRento , where I remain shareholder
|2019 March||Bikeep||Protecting bikes from thieves. Saas for bike sharing||Operating|
|2019 June||NorthOne (seed)||Online bank for Business in Canada (USA)||Raises Series-A in 2020
2022 Raises 67M Series B. Tencent as lead investor
|NOW||Your startup||Need cash or web development services?||Pitch me!|
|Fund 1||2014 - 2016|
|2014||Wefunder||exited with 7% roi|
|2014||Soothe (seed round)||Skipped Series A. Participated in series B. Skipped Series C|
|2014||Enevo||Skipped next round. Went Bankrupt after Series C.|
|2015||Molekule (pre-seed)||Raised multiple follow up rounds. (Seed, Series A, B) Did not invest bc did not have pro-rata rights. 2022 Raised a down round where my investment was divided by 16x|
|2016||Revolut (Series A)||Received 20x cash offer. Still holding position. After last private financing round my position had 300x return|
2017 August. Revolut. Attracted 66M investment at 420M valuation. I got a cash offer to sell my shares at x5. Decided to keep, because i believe Revolut can be 4-40 billion company. With exit from Wefunder and current Revolut and Soothe valuations i am close to break-even.
2018 Summer. Revolut is a unicorn valued at 1.7B. I get 20x cash offer and refuse because i think this can go up 20x more. It can beat Paypal (90B) valuation. Although there is big competition – Cash app from Square is the first one that comes to mind and is run by great founder.
2020 January. Revolut raises 500M at 5.5B valuation. My stake has ~50X value. I was right in 2017 when i said that Revolut can be worth 4-40B
2021 July. Revolut raises Series E and is valued at 33B. My stake has ±300x value.
Technically all my first startup fund is covered only by Revolut. Also my other companies , Italist and Soothe have great paper returns.
My mistake from Fund1 is that i put different amounts to different projects.
I am trying different investment vehicles / asset classes to find out where can i have the edge. Investing in startups was one of them 2014-2016. I have made 9 investments in startups via Angel List, Crowdcube, Seedrs (UK) and Wefunder.
Steve Blank: how to raise money?
How to raise money? (Conditional clause)