Go get the money…
You’ve proven you can survive and manage your cash, all of you startups who’ve bootstrapped with no VC; we salute you. Startups previously overlooked are getting a second chance, and now may be the perfect time to dust off their pitch decks:
“As we previously noted, for PE investors who’ve been waiting for rationality to come back to tech valuations, there are going to be a lot of tech companies that will come to light in coming quarters who have:
- Great products
- Solid revenues
- An upside-down cost structure with some easy fixes via more prudent spending
- Exhausted management with an insurmountable preferred equity stack who are working for their VCs
- Tired VC investors who don’t see a shot at the co becoming a 10x’er
Source: CB Insights
Another exciting opportunity is brandless software applications. Think of it this way; use my software, and we’ll apply your brand and make it look like yours. Then you can license it to some third-party disguising the software as yours. Sound easy? It is, with a tight tech support agreement, and it pays.
The idea behind brandless software takes things one step further than white-label (and may be a welcome alternative for re-seller agreements). Stay tuned, as the case for ‘brandlessness’ continues- The fr.com
Some notable trends this week:
- Blockchain was this week’s category winner, with funding awards in the entertainment sector (#2, #5).
- Community owned access to Blockchain (decentralization) is alive, and well-funded in this week’s #3, Tomi.
- This week’s funding activity is approaching ‘pre-SVB’ amounts our information gathered across our sources. It’s nice to see double-digit funding in the millions, once again.
Next up, here are this week’s Top 5 VC Deals
1Rain
$116M, Series A | Equity & Debt| CA | Payments | QED Investors, Invus Opportunities, WndrCo, Tribe Capital, Sound Point Capital Management, LP, Dreamers VC | https://www.rainapp.com/
LinkedIn Overview:
“Rain provides employers a benefit that can be offered to employees to access their earned wages. This benefit has already been rolled out to hundreds of companies located world-wide. Our mission is to regrow individual freedom by giving people control over their income and finances. We are killing predatory financial products like payday loans and overdraft fees…”
2CCP Games
$40M, Seed | Equity| Iceland | Blockchain | a16z, Makers Fund, Bitcraft, Kingsway Capital, Hashed, Nexon| https://www.ccpgames.com/
LinkedIn Overview:
“CCP Games is a leading game developer praised for its artistry, technology and game design that facilitates emergent behaviour, empowering players with compelling means of self-expression. Founded in 1997, the company is on a mission to create virtual worlds more meaningful than real life…”
3Tomi
$40M | Equity | Alternative Internet Community| Blockchain | DWF Labs, Ticker Capital, Piha Equities, Hirokado Kohji| https://www.tomi.com/
LinkedIn Overview:
“Alternative Internet Controlled By The Community Designed To Promote Freedom…”
4Bitkeep
$30M | Equity | Cayman Islands | Blockchain | Bitget | https://bitkeep.com/
LinkedIn Overview:
“BitKeep is the ultimate Web3 wallet for all your crypto needs. By providing users with a safe and effortless trading experience, BitKeep Wallet has become the go-to crypto wallet for more than 8 million global users across 168 countries and regions. Besides, BitKeep is the wallet partner of the world’s most popular mainnets, such as Ethereum, Polygon, Solana, BNB Chain, etc., …”
5OP3N
Artists Agency, Connect Ventures, Republic Crypto, Avalanche, Galaxy Digital, Warner Music Interactive, GSR Markets, The Spartan Group, BRV Capital Management, Russell Westbrook |https://op3n.world/
LinkedIn Overview:
“Founded in 2021 as a subsidiary of EST Media Holdings, OP3N is a global Web3 Superapp that combines the best of Web2 and Web3 where chat, commerce, community and unique and memorable experiences are at the forefront. OP3N empowers artists to directly publish to, and engage with, their fans via exclusive token-gated access and experiences…”
