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Network Updates, 9 Mar. 2017

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Upcoming Events

  • March 9-10: KF gatherings at SXSW, and use of TechStars space during event.
    March 9, 6:30pm – Kickoff dinner
    March 10, 5-7pm – KF & Friends happy hour
    Register on TENx
  • March 10: NY Chapter breakfast; RSVP on TENx
  • March 28-29: Invest Midwest conference. See TENx for discount code & KF cocktail reception RSVP.
  • Apr. 2-7: Spring Modules, London, UK. April 4, 6:30pm cocktail reception: RSVP on TENx.
  • May 4: Bay Area Women Fellows Breakfast, San Francisco (save the date!)

Interviewers Still Needed for Class 22 Candidates

We have many phenomenal candidates to consider for Class 22 and still need help to interview them. Please email Katlyn Mease in the next few days if you are able to assist in the next 2-3 weeks.

Headlines

  • Latest Emergence Capital report on mobile enterprise trends confirms a future Scott Ford (Class 11) predicted in 2010
  • Vator News profiles Thomas Ball (Class 10) as Next Coast Ventures closes $85M fund
  • VentureBeat interviews Ravi Belani (Class 11) on Cisco’s $1M investment in Alchemist Acclerator
  • On the move, moving up, and mentions: Cameron Teitelman (Class 16) moves to board chair of StartX • Kevin Lockett (Class 21) joins KCU board of trustees • Carl Fritjofsson (Class 21) named a top entrepreneur in Sweden
  • Podcasts & speakers:
    • Rob Coneybeer (Class 2) has new Sirius XM podcast
    • Susan Mason (Class 2) to speak on the future of payments
    • Patrick Chung (Class 9), Daniel Kraft (Class 13), and Risa Stack (Class 2) to speak at Splash Health, Wellness, & Wearables conference
    • Daniel Kraft (Class 13) to appear weekly on NPR’s TechTalk Nation: Health
  • This week’s blog selections: Hana Yang (Class 20) writes of the growth of women in VC • Mark Suster (Mentor Class 21) writes in conjunction with Upfront Ventures’ annual LP report
  • Job openings:
    NEW: Innovation Endeavors • Transportation Labs (accelerator) • Matterport • Genomics Medicine Ireland • Invitalia Ventures
    CONTINUING: Savano Capital Partners • Amasia

KFR Vol. 1 coverIn the inaugural volume of the Kauffman Fellows Report in 2010, Scott Ford (Class 11) made this very bold claim: “The infrastructure supporting the mobile phone in your pocket is bracing for a digital communication revolution that will result in an economic boom rivaling any of the past developments of the information age.” In particular, he predicted “leveraging mobile technology to enhance business processes, lower costs, and increase revenues is becoming an enterprise imperative.” (Read the full article for details on his well-argued thesis.)

Emergence CapitalScott’s analysis is fully substantiated by Emergence Capital’s latest Mobile Enterprise Trends report. Nearly 10 years after the first iPhone was released, Emergence finds that mobile enterprise investments, which focus on the “deskless worker,” are increasingly popular and lucrative. Last year saw “the first billion-dollar exit of a mobile enterprise company” (Emergence portfolio company ServiceMax), five acquisitions that totaled more than $2B, and a 9% rise in investments (amid a total venture investment decline of 11%). In particular, investment is growing in apps “aimed at vertical industries” such as health care (2X vs. 2015), hospitality (10X+ vs. 2015), and restaurant management (up 77%).

Looking ahead at the coming year, Emergence expects another $1B acquisition to help boost overall valuations, an increased focus on mobile devices other than phones and tablets (e.g., drones, VR displays), and a shift in company-creation to locations outside Silicon Valley. The rate of new company creation in this space has slowed, notes the report, due in part because of the complexity of building applications across multiple platforms—as compared to desktop SaaS—as well as a lack of awareness of the sector’s potential among software engineers. Yet.

Emergence’s medium.com blog post also contains the official slide deck for the report.

Emergence Capital Partners was just named Firm of the Year by the NVCA. Congratulations to Jason Green (Charter Class, Mentor Class 20), Brian Jacobs (Mentor Class 11), Gordon Ritter (Mentor Class 15), Kevin Spain (Class 11, Mentor Class 18), Santi Subotovsky (Class 15), Joe Floyd (Class 18), and Jake Saper (Class 20)!


<pVator NewsCongratulations to Thomas Ball (Class 10), whose firm, Next Coast Ventures, just closed an $85M inaugural fund—oversubscribed by $35M. Vator News profiled Thomas as part of their “Meet the VC” series on newish VC firms investing in the seed and Series A stages.

One of Next Coast’s taglines is “for entrepreneurs, by entrepreneurs,” a philosophy that allows them to really “lend a hand” to their portfolio companies. Within the enterprise and consumer software sectors, they focus investment on themes like “future of work” and then look for both “big disruptive markets that match our themes” and “founder–market fit.”

Austin, TX-based Next Coast Ventures focuses mainly on investment outside Silicon Valley, which allows their Series A investments to fall in the traditional $3-5M zone (inside the Valley, $3M is often raised in seed rounds). They prefer to either pass on deals quickly and refer the startup to a better investor match, or take their time getting to know the company through multiple meetings in what Thomas calls “a longer dating process.” Over the life of the fund, they expect to make 20-25 investments in Series A and B stages.


VentureBeat logoLast week, the Cisco Spark Innovation Fund announced a $1M investment in Alchemist Accelerator, which will fund an enterprise collaboration track at the accelerator. Ravi Belani (Class 11), Managing Partner for Alchemist, explains that the track “was made to support Cisco Spark services and use of Cisco’s collaboration APIs but is open to companies working in other spaces. … We’re looking at collaboration very broadly defined.” Founded in 2010, Alchemist is a popular and well-regarded 24-week program for enterprise startups, accepting about 20 firms per class.

This is the fourth track that Cisco’s has funded at Alchemist, an indication of the firm’s increasing interest in earlier-stage investment. Ravi said that in the past Cisco would typically invest in Series B, with another VC as the lead investor, with additional follow-on funding. Now, however, Cisco is “ushering [in] the next generation of startups and putting in risk capital before the VCs are even getting involved.” Read the VentureBeat story.


On the move, moving up, and mentions:

  • Cameron Teitelman (Class 16) is moving from CEO to board chair of the Stanford University accelerator StartX. Cameron will maintain his role at the StartX Fund, while also spending time on his own startup. [Press release]
  • Kevin Lockett (Class 21) has been named to the board of trustees of the Kansas City University of Medicine. The university’s president remarked, “[Kevin’s] entrepreneurial mindset, expertise in the biosciences and keen understanding of how to grow non-profit organizations will be valuable assets as we continue to innovate and advance our vision of becoming a leading health sciences university.” [Press release]
  • Congratulations to Carl Fritjofsson (Class 21), who has been named one of the hottest entrepreneurs under 40 in Sweden. [Article in Swedish]

Podcasts and speakers:

  • Rob Coneybeer (Class 2) on SiriusXM: “Ian Cartabiano of Toyota’s Calty Studio on SiriusXM with Rob Coneybeer” is a special edition of Launchpad with Rob Coneybeer and Randy Zuckerberg, recorded live at the International Consumer Electronics Show (CES) in Las Vegas. Cartabiano is the Studio Chief Designer for the Calty Studio in Newport Beach, CA.
  • On March 28, Susan Mason (Class 2) will speak on a panel discussing trends and options in online payments in Palo Alto. “The Future of Payments,” organized by FinTech Silicon Valley.
  • The Splash Health, Wellness, and Wearables conference in San Francisco on March 23 brings together the brightest minds around digital healthcare innovation and venture financing, targeting early-stage funds, investors, and members of the press interested in health innovation. Speakers include Patrick Chung (Class 9), Daniel Kraft (Class 13), and Risa Stack (Class 2).
  • Last week we reported that Daniel Kraft (Class 13) was a guest NPR’s TechNation radio show. Daniel reports on LinkedIn: “Lucky to be doing a regular ‘Tech Nation Health’ segment with Moira Gunn on Tech Nation…which is syndicated on NPR (aired on nearly 200 public radio stations nationwide, and globally, to 177 countries via Armed Forces Radio International).” The first two segments, “The Future of Medical Education” and “3D Printing in Medicine” can be found on the TechNation: Health Podcast website.

This week’s blog selections:

  • Hana Yang (Class 20), in collaboration with Samir Kaji (Class 20), wrote “The Growth of Female VCs Is Happening, and It’s Not Going to Stop.” Hana put together a list of over 1200 women in venture across the world, and was surprised to find that the United States dominated the list with 858 women investors. The post includes a breakdown of the investment focus areas for women investors, beyond the traditional industry interests.
  • Mark Suster (Mentor Class 21) of Upfront Ventures summarized the company’s annual survey of LPs: “Why the LP Outlook is Good for Venture and Startups in 2017–2020.” The blog post shares five top-level perspectives from the LPs surveyed, including their views on the current US president, and includes links to the full presentation deck.

Job opportunities:

If you are a Fellow or Mentor and would like to post a job at your firm or portfolio company, please email us. Jobs are removed from this list after 4 weeks.

  • (NEW): Eyal Mayer (Class 21) forwarded a job opportunity for a “Value Creation Team Member” in Business Development at Innovation Endeavors, a VC firm looking to transform large industries. Innovation is solely backed by Eric Schmidt, Executive Chairman of Google. The Value Creation Team supports portfolio companies and is focused on building relationships with leading industry players within Fortune 500 companies. The position is based in the San Francisco Bay Area and requires 2-3 years of work history, experience with demo days or similar, and a natural ability to build strong relationships and connect with people. Read the full job description, with application information.
  • (NEW): Cyril Vancura (Class 15), a Principal at Robert Bosch Venture Capital, reported on LinkedIn: “We are excited to be partnering with @CometLabs on the first-ever accelerator specifically for startups building AI tools to transform transportation.” Learn more and apply now to the Transportation Lab. New class starts April 3.
  • (NEW): Brian Kissel (Class 7), SVP of Matterport, has announced via LinkedIn that his firm is hiring a number of people in its Sunnyvale, CA office. Matterport is an immersive media technology company that builds 3D media solutions used from real estate to entertainment. The firm has built the first end-to-end media platform that allows users to easily create, modify, navigate, and build on digital representations of real places. Senior UX DesignerDirector of Product MarketingPartner Platform PMProduct Manager, Commerce (contract)Main Matterport jobs page.
  • (NEW): Dan Crowley (Class 16) announced via LinkedIn that Genomics Medicine Ireland is looking for a Medical Science Liaison, responsible for identifying and developing collaborative research opportunities between GMI and clinical groups throughout Ireland. Read the full description and application information.
  • (NEW): Salvo Mizzi (Class 16) reports on LinkedIn that his firm, Invitalia Ventures, is hiring an Investment Analyst. The link to the jobs page from LinkedIn appears to be broken at this time; best to email Salvo directly (smizzi@invitaliaventures.it).
  • Bion Ludwig (Class 18) has put the word out that Savano Capital Partners is looking to fill two positions: an Analyst/Associate and a Principal. The Associate would be supporting the firm’s partners in Washington, DC and Baltimore, Maryland. A minimum of 2 years relevant work experience and a deep understanding and passion for the technology field are required. See the firm’s complete job description and qualifications requirements. • While the Principal position does not have a specified job description, Bion writes that this Partner-track position requires significant deal/investment experience, a passion for technology/growth companies, a desire to live in the Washington, DC area and, ultimately, a good fit with the existing team. Savano raised its second fund last year, and is looking for people who can hit the ground running. Email Bion with questions: bion@brownsavano.com.
  • John Kim (Class 20) reports that Amasia is looking to hire Associates in both its Singapore and Silicon Valley offices. Amasia focuses on cross-border tech investing and has a startup, entrepreneurial-feel to their firm. Interested candidates must be comfortable operating with only basic instructions in a multi-country envitonment. Exceptional writing and financial modeling skills are required. Read the full job description. Questions? Contact John: jk@amasia.vc.

Do you have a news story to share? Please email us: news@kfp.org.

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