What’s New @ Alumni Ventures — Issue #1
We share important news happening at Alumni Ventures, including recent portfolio updates and exits
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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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.
Portfolio Fundraising News
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.
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.
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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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.