Emerald Development Managers

We’re early-stage company builders. We’ve founded 10+ companies and invested early in startups now worth over $50B. We’ve been in your shoes, we have the scars from being founders ourselves, and we know it takes incredible effort and determination to transform an idea into a category-defining company. We roll up our sleeves and provide hands-on support to our founders, which leads to big results. Our track record speaks for itself: in just 9 years, we have seeded 7 companies currently valued over $1B and 3 public companies. Pre-seed We lead pre-seed rounds. Our pre-seed companies participate in PearX, an early-stage bootcamp for founders with high potential ideas. We help founders build the right product, find the right market, and lay the foundations for a scalable venture company. We have been leading pre-seed rounds for the last 10 years and we believe a small-cohort, 14-week program is the most efficient way to start building a company. We customize PearX for every company and adjust it to their needs. For this reason, we are very selective with our pre-seed investments (less than 1% acceptance rate, 15 companies per cohort). How we help at pre-seed Pear partners with you at every step of your journey. Pick the right market: Picking the right market is critical. We help you size your market and thoroughly understand it. You will avoid markets that are too small and prepare to take on markets that have foiled many others. Understand your customer: The best companies are built on deep and differentiated customer insight. Our companies go through a rigorous customer development process to discover promising customer personas and needs. Once you internalize your customer’s problems as if they were your own, you can start solving them. Define your product: Based on your customer insights, we help you iterate on the minimum viable product that tests your market. Ship fast, learn quickly, and gradually discover where to double-down. Iterate iterate iterate: We’re not afraid to make multiple iterations and pivot until we get things right. You can count on us to be honest with you whether the data supports your thesis or we should adjust the product. Prove your product-market-fit: We help you define and hit the milestones needed to raise more capital. Not all traction is equally valuable, though. First, we focus on making sure your customers love your product; only then do we work on finding more customers. Build your team: Your team is your biggest asset. We are here to help you identify gaps, set up a polished recruiting process or conduct interviews – all to ensure you’re bringing on the best. Fundraise: We take an all hands on deck approach to make sure you can raise capital. We help you define your story, put together your deck, and pitch the right investor. We run a demo day twice a year that is attended by over one thousand investors. Use our network: Whether it is a customer, a partner, an investor or another founder, we help you get the introductions to the people that matter most for your business. How PearX works Phase 1: Idea development - WEEKS 1-4 Customer development Strategic market positioning Big company story development Defining key team needs Defining key KPIs for the program Phase 2: Execution - WEEKS 5-10 Build initial MVP Get early customer traction and data Go-to-market experimentation and development Iterate until you get it right Phase 3: Demo Day prep - WEEKS 11-14 Demo day/fundraising preparation Develop the pitch and iterate on the Demo Day deck Create fundraising strategy Phase 4: Demo Day and fundraising - DEMO DAY Pitch to 1,000 investors Help you vet term sheets, negotiate the best terms, and close your seed round Seed We lead and co-lead seed stage investments. Then we roll up our sleeves to get you to Series A. We help founders in four key areas: product-market fit, go-to-market, recruiting, and fundraising. How we help our seed founders Make your first hires: The best use of your capital is to hire the best team. We help in a unique way – our exceptional in-house recruiters partners with you, at no cost, to close your first engineering and technical hires. Before Pear, that team recruited thousands of engineers at Instacart, Uber, and Meta. Grow exponentially: Each company has a unique go-to-market strategy and seed is when you design your scalable growth engine. We iterate with you to test organic growth, paid growth, channel partnerships, sales org development and other models to hone on the right model for you. Sell effectively: We run a “Sales Bootcamp” to improve your sales skills, share how to run a sales organization, and help you iterate on your sales pitch and messaging. We also work our extensive networks to provide customer introductions. Retain your customers: Success is not only about acquiring customers. Retaining and expanding existing customers is ultimately even more important to your company’s success. We work with you to optimize the value of each customer over time. Achieve operational excellence: Great companies out-execute. While vision and innovation are critical, running your company like a machine is how you win. We help you define operating plans, run effective board meetings, clarify the KPIs needed for your next round, and focus on culture and personal development. Raise your Series A: We help you set your Series A fundraising strategy from day one. When the time to start fundraising comes, we run a “pitch deck clinic“ to build your story, gather your evidence, review your deck, design it, and master public speaking. Then, we work with you to get the right VC introductions, and, finally, we coach you through the negotiations. Our rigorous process produces results with over 70% of our seed companies raising series A’s from tier-1 institutions. Access to PearX programming: As a Pear portfolio company, you have the option to join the PearX program. This is a great way to come up to speed quickly on the ins and outs of starting and running a company. Invitation to Demo Day: We run investor demo days twice a year. As a Pear portfolio company, you are invited to present at our Demo Day. You can join our PearX fundraising bootcamp three weeks prior to Demo Day and we’ll work with you to get you ready to present to hundreds of top-tier investors. What are typical check sizes? We write early checks that range from $250K to $5M. No idea is too early to bring to us. We meet mission-driven founders where they’re at, and we’re willing to back entrepreneurs who are eager to solve big problems in large markets, even prior to finding the perfect solution. PRE-SEED: $250K -$2M SEED: $1M – $5M FOLLOW-ON: Up to $10M Our focus areas. We invest in the following market sectors. Consumer: Technology including social, marketplaces, subscription, e-commerce, creator economy, and more. SaaS: Purposeful tools that help businesses of all sizes work faster and smarter. Enterprise: Infrastructure powering the next generation of developers and builders. Web3: Infrastructure for the next generation of the internet and the ownership economy. Healthcare: Software and tech-enabled services innovating on care delivery. Deep Tech: Companies focused on space, robotics, semiconductors, and more. FinTech: Solutions for payments, infrastructure, data analytics and privacy, and more. BioTech: Platforms across therapeutics, diagnostics, and life science tools and services. Climate Tech: Technologies that have the ability to create more sustainable systems around energy, transportation, carbon removal, food systems, buildings, and more.

At Menlo Ventures, we go ALL IN. This isn’t just a motto, but how we show up everyday for the companies we back, the investors who back us, and each other. When we win, we win as a team. 47 Years 80+ Public Companies 165 + Mergers + Aquisitions $5B+ Under Management We focus on the "three stages of early" We are investors and company builders - we know what it takes to turn a budding idea into a scalable business. We work with early-stage founders to find product-market fit, develop go-to-market strategies, scale their organizations, and support them as they grow. Inception: Our Menlo Labs team helps founders validate early-stage ideas, de-risk opportunities, and build successful foundations. Venture: Our venture team provides series A and B startups with guidance and hands-on help as they build their teams and products. Inflection: Our inflection team supports early growth-stage startups during critical points as they prepare to scale. Our focus areas At every stage from inception through IPO, we invest in game-changing ideas that reinvent life and work. Although we remain open to new ventures within consumer, enterprise, and healthcare, we go deep in the following seven focus areas: AI: Generative AI is breaking into every software vertical, and winners in these markets will create massive economic and societal value. Menlo Ventures is placing bets on the most promising GenAI companies at the infrastructure and application layers, where we see immense potential for groundbreaking businesses that will reshape industries and push the boundaries of what we can achieve. Bio + Healthcare: Innovations at the intersection of advancements in technology and biology will drive major improvements in the quality of our health and the cost of healthcare. At Menlo, we invest at that intersection - backing breakthrough digital health companies (vertical SaaS and digital care) and novel life sciences companies (therapeutic platforms and transformative technologies). Consumer: The world we live in today is enhanced by technologies we might not have thought possible even 10 years ago. There is so much still to come. At Menlo, we invest in the game-changing companies of the future, those that will help us do things better, faster, or cheaper than we can today. Cloud Infrastructure: As enterprises continue migrating to the public cloud, a new generation of companies will write the playbook for the underlying infrastructure that powers their applications. These tools and platforms are built for and cater to the developer, optimized for time-to-integration with beautiful, easy-to-use UIs and APIs. Cybersecurity: In a complex, post-pandemic world, rapid cloud adoption and the proliferation of open-source software have dramatically expanded the attack surface for bad actors against enterprises, governments, and their applications. Additionally, the shift-left approach to software development requires developers to embrace a security-first mindset. As the cyber war continues, Menlo will back the best teams fighting on the frontlines. Fintech: Financial transactions and services power the global economy. Menlo invests in four fintech categories: dev-focused infrastructure and embedded finance (API layers), vertical banking, end-to-end financial services for consumers and SMBs, and tools that serve finance teams and the office of the CFO. SaaS: The shift to the cloud introduced an entirely new business model–Software-as-a-Service–and created unprecedented opportunities for enterprise software companies. Menlo divides the SaaS landscape into three categories, each with a distinct point of view that guides our investment, research, and resources: Departmental SaaS, Vertical SaaS, and Horizontal SaaS. Supply Chain + Automation: This once-in-a-generation reinvention/reinvigoration of the supply chain will create a world that is more efficient, resilient, and sustainable because of the operational efficiencies we gain. With an eye on a more functional future, Menlo invests in a broad range of technologies–robotics and industrial automation among them.

Our goal is to contribute to the development of a free democratic society, based on equality, freedom and universal welfare. PEV in numbers$300M+ Assets under Management 50+ Years of experience in venture capital $2000M+ Funds raised by PEV portfolio companies 2500+ Jobs created by PEV portfolio companies Investment strategyLead or Co-Investor Role: Target investments approx. 5M – 10M USD per company with board representation Investment Stages: Seed to Series C Target Sectors: Artificial Intelligence, Big Data, Cybersecurity, Health Tech B2B Software: We focus on SaaS or quasi SaaS software services and products Geographical Focus: 50% Israel, 25% Europe, and 25% USA Investment ThemeCyber Security Big Data Artificial Intelligence Health Tech

As enterprise software specialists we know that founders of high-growth B2B companies face similar challenges when scaling from expansion stage to IPO. Our mission is to contribute our specialization, experience and network to help teams navigate the journey to build companies of consequence. Our areas of interest are: AI/ML B2B SaaS Crypto Cybersecurity Data & Analytics DevOps Fintech Healthtech Vertical SaaS For more than two decades, we have partnered with visionary management teams and venture funds to help scale companies of consequence. Since our founding, we has invested in more than 170 companies globally resulting in more than 30 IPOs and 45 acquisitions. The firm’s investment strategies - Sapphire Ventures, Sapphire Partners and Sapphire Sport - are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.

Harpoon is an early-stage venture capital firm that invests in the most elite early-stage technology companies in the world in the areas of enterprise infrastructure, cyber security, AI/ML, and deep technology. We believe that investing in the best, with the best, requires more than capital. As such, our firm specializes in adding asymmetric value to our founders primarily through catalyzing new customers and strategic partners for their businesses. To date, we have closed over $500M in total contract value for our portfolio from customers ranging from government agencies to financial services and big tech companies. Harpoon was founded in 2018 and originally seeded by Lightspeed Venture Partners and Andreessen Horowitz. Since then, we have grown to $300M AUM, opened offices in San Diego, and New York City, and built a best-in-class portfolio including companies like Material Security, Robust Intelligence, Solugen, Semgrep, Astranis, Genesis Therapeutics, Netography, Graphiant, Vantage, and many more. We are building the SEAL Team of venture capital and firmly believe that a small, elite team can achieve outsized strategic-level impact. We are a young team of ambitious professionals focused on building an enduring franchise by continuously driving results for our companies, and outsized returns to our limited partners. Our founders routinely tell us that we are the “most dollar-for-dollar impactful investor in the cap table.” This is a badge of honor we wear proudly and represents our ceaseless commitment to excellence.

We back companies building innovative B2B SaaS products. We’re always in search of entrepreneurs pursuing bold solutions to complex problems. Who we are Passionate about supporting business growth in emerging venture markets Since the fund’s launch in 2017, one of our guiding principles has been a desire to support entrepreneurs from diverse backgrounds who often face unfair obstacles to obtaining institutional funding. Although only roughly 30% of US venture funding is allocated to companies based outside of California, Boston, and NYC each year, other cities contain no shortage of capable founders. When we began searching for talent in our own backyard, we learned that the best companies are often found where you might least expect. Silicon Valley no longer holds a monopoly over entrepreneurial talent. We know that startups thrive in commonly overlooked regions which provide access to untapped markets and lower operational costs. Our portfolio companies are based in a wide variety of fast-growing venture markets, including cities like Indianapolis, Cincinnati, Atlanta, and Toronto, among others. What we look for Strong, diverse teams building the future of B2B technology When evaluating new investment opportunities, there are several key elements we value most highly. We like to work with scrappy, self-aware teams who are open to receiving feedback and guidance. We prefer to see some level of product-market validation in the form of contracted recurring revenues. We invest broadly in the B2B SaaS space, with particular interest in verticals including digital health, IT/development tools, industrial, human resources, marketing technologies, and more. We weigh the merits of diverse leadership heavily when evaluating new investments. While we certainly always have room for improvement in our mission to support entrepreneurs from underrepresented backgrounds, we’re proud that half of our current portfolio companies are led by female and/or nonwhite founders. We’re always eager to meet bold, driven teams who are creating disruptive technologies. Think that could be you? Please contact us. How we help A world-class Advisory Board and ongoing mentorship The Grand Ventures team is supported in our efforts by our extensive Board of Advisors. The board consists of over 50 of the fund’s LPs. Our advisors have extensive experience building successful tech companies - including the likes of US Robotics, Hagerty, Monster.com, and Facebook – and they are always eager to share their learned lessons with our portfolio CEOs. We get excited about supporting founders through the earliest, most challenging stages of building successful businesses. We often provide the first institutional check to companies and remain actively engaged as needed to promote growth and strategic focus. We’re ready to roll up our sleeves and help with everything from customer introductions to leadership coaching to sales and culture development. But don’t just take our word for it-- you can ask our CEOs.