Dear Friends,
I am pleased to share the Q3 2022 recap for SuperAngel.Fund.
During the quarter we made 14 investments (five of which were follow-ons), with a median check size of $50k and post-money valuation of $15m. Our investments were spread across Consumer (4), eCommerce SaaS (9) & PropTech (1).
Since the fund started in January 2021, we’ve made 99 total investments into 66 companies, 27 of which have been marked up so far. You can view my entire performance history over the past eight years here.
PS - My next quarterly fund started on October 1. You can read the deck and learn more by clicking here. If you have any questions about joining as an LP, reply to this email and let’s connect by phone, video, or in person if you’re in NYC.
Toppings: Socially driven free food delivery
Kimai: Lab grown diamonds & recycled jewelry
Arber: Modern lawn, garden and plant care brand
EIGHT: A new iconic American beer brand
Kinn: Reach and engage customer communities
Status: Redefining customer accounts
Vitrine: Creator shops made easy
Roomie: A better way to plan & shop for your space
Bainbridge: Financial planning, data & forecasting solution
Motion: Creative analytics platform for marketers
HerdPay: Group buying made easy
Adgile: The first tech-enabled OOH advertising company
Capsule: Save & buy anything you find on social media
Otis: Modern pet care platform
Below are two articles that I thought were worth sharing. The first is written by another venture fund that we collaborate with. It is extremely well-sourced and speaks to our common investment thesis and why it makes sense to index more heavily towards eCommerce SaaS companies over the brands themselves (e.g. software businesses that support the eCommerce ecosystem). The second includes data that supports the top performance in venture capital coming from emerging/first time fund managers like ours vs larger funds.
"Investing in the Future of Commerce" (via M13)
"When Public Markets Experience Volatility, Experts Say To Invest In Emerging Managers" (via Forbes)
In case you missed it, I also recommend reading the ‘State of the Market’ report that I wrote on July 1, 2022. This contains my thoughts on the current market conditions, how it impacts my fund and early stage investment opportunities as a whole.
Additionally, I wanted to re-share an interview I did on June 30, 2022 with 1-800-D2C, an eCommerce publication. This provides deeper insights into my fund strategy, process and philosophy. I also list several trends I am seeing, along with investments we’ve made that target them.
If you happen to come across impressive founders looking to raise capital within our areas of focus, I always appreciate you sharing those opportunities with me.
Feel free to reach out via email with any questions, to share deal flow opportunities, or to get in touch (ben@superangel.vc).
As a refresher, SuperAngel has two distinct vehicles - our fund and syndicate.
Fund Info
The fund is structured as a Rolling Fund, which is a series of quarterly funds that enables Limited Partners (LPs) to join at any time and participate in all investments made during the quarters which the LP invests in. Investors get diversified exposure to every company that the fund invests in, one of the most important attributes of a successful early stage portfolio, and priority access to co-investments. Click here to apply.
Syndicate Info
Our syndicate allows investors to review individual opportunities (generally 1 per quarter). There is no upfront commitment when joining the syndicate - members are notified when we have a new investment to share and can choose to invest or pass based on their own discretion. However, there are often limited allocations for syndicates as priority is given to fund LPs on a first-come, first-served basis. Click here to apply.
SuperAngel.Fund is an early stage fund that invests in Consumer, PropTech & Future of Work. You can learn more at SuperAngel.Fund.