The Yard Ventures Community Newsletter — May 2022

Content at the intersection of entrepreneurship, venture capital, and our Harvard community.

Written by

Michael Madden

Published on

IN THIS ISSUE: Fund 7 now open, another portfolio company exit, new investment with Red Dot’s Yaniv Stern (HBS’07) in Quantum Machines.

Doubling Down on the Harvard Alumni Ecosystem

We’re pleased to announce that we’re doubling our commitment to the Harvard alumni entrepreneurial and venture ecosystems by adding a second Yard fund and a second investment team — opening additional opportunities for our investors. Here’s how it will work:

  • We will be raising a new fund every six months — instead of every 12 months as we have done in the past.
  • No changes are being made to our existing Yard Ventures fund. It will continue on the current calendar cycle, opening in September of each year, led by the Founding Managing Partner Michael Madden (AB ’00) and his team.
  • Our second fund will also be led by Michael, with support from Partner Lee Rawlings (HBS ’01) and Principal Alex Attard-Manché (HBS ’20).
  • Both Yard teams will have the same strategies to assemble a diversified portfolio of promising venture investments — many with strong Harvard connections. These investments will be led by other established VCs and sourced in collaboration with the 20+ actively managed teams at AV.

Interested investors should click below to create an account and login to our data room to access all fund materials. If you have any investing questions, connect with us for a short 1×1 call.

An Overview of The Yard Ventures and Fund 7

Wednesday, June 8, 1:00 PM ET

Join Managing Partner Michael Madden for an introduction to The Yard Ventures, our fund for the Harvard community. Our new investing team Partner Lee Rawlings (HBS ’01) and Principal Alex Attard-Manché (HBS ’20) will introduce themselves and share their outlook for Fund 7. We will record the session and share with all who register.

The Yard Portfolio Update

ConcealFab (YV2) was acquired by Valmont Industries and Ericsson. The all cash offer is expected to have an immediate impact on Valmont’s earnings, with projected Year-1 revenue of approximately $50 million.1 ConcealFab designs and builds small cell telecom solutions to aid in the expansion of next generation 5G wireless. Small cells are low-powered cellular radio access nodes capable of expanding coverage and increasing network capacity while requiring less space than traditional towers or rooftop installations.

Quantum Machines (YV5) has developed a hardware and software “Quantum Orchestration” platform designed to increase the productivity of quantum computers and the teams that run them. The company’s suite of products enable streamlined control and communication with quantum computers — intuitively simplifying complex algorithms while optimizing performance. The Yard invested in a $50 million Series B led by Red Dot Capital Partners, with additional participation from Samsung NEXT, Valor Equity Partners, and others.

FOR CURRENT INVESTORS

Thinking of becoming an investor? Access Materials »

Semi-Annual Investor Reports

Our latest Investor Reports are now available. These are semi-annual updates covering our fund’s performance and some of the exciting steps our portfolio companies have taken over the past ~6 months. Visit our Club portal to view your reports and read other exclusive updates from Managing Partner Michael Madden and our team. Visit Club Portal »

Campus and Community Update

Avarita L. Hanson ’75, William F. Lee ’72, Dwight D. Miller, Ed.M. ’71, and Tom Reardon ’68 will receive Harvard Medals during Harvard Alumni Day on June 3. The award recognizes extraordinary service to the University in areas including teaching, fundraising, leadership, innovation, administration, and volunteerism. Read More »

AV Talent Referrals

Interested in joining a cutting-edge startup or know someone who might be? Our portfolio companies are growing and always looking for high-caliber talent. Check out their open positions on our job board. If you find a match, fill out this short form, and we will try to make a personal referral. Visit Job Board »

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

1Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and this fund involves substantial risk of loss, including loss of all capital invested. 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.