Foundation Capital

To all the founders wondering what makes us different---- Browse around a few VC websites these days and you’ll notice that they all start to sound the same. They all say we partner with remarkable founders. We believe in the power of technology to change the world. We back exceptional companies from the very start. But that hasn’t always been the case. When we started First Round over 15 year ago, seed-stage investing wasn’t yet a thing and most doubted it would stick around. Founders-turned-investors were odd balls. And a “Platform Team” that provided services beyond the check was a new idea. These days, a Platform Team is table stakes. Every VC out there promises access to individuals and networks that set founders up for success. Even multi-stage and mega growth firms now dabble in seed-stage investing, backing companies that are no more than a couple of people with an idea. But talk with a few First Round Founders and they’ll tell you how we’re different. They’ll tell you that we know how hard and lonely the startup journey can be, and how we’ve helped them evolve from a great founder to a great CEO. They’ll explain how we equipped them to build a better company by focusing on those first couple of years. They’ll tell you that we believe in working sessions when you’re just getting started - jam sessions where we go deep on a topic, instead of stuffy board meetings. That their First Round partner is the first person they text and call, their coach in the corner - and the kick in the ass when they need it most. Felicia from Binti will explain how partner working sessions helped her navigate the pivot from a consumer app to government-facing technology. They’ll say that we’re always willing to share our unvarnished opinions, but they also know they have our unwavering support. The founders we’ve backed will rave about how we helped them land their most important hire, position the company and write their sales playbook. Stephanie from Boulder will tell you that we connected her to her co-founder Dave. Irving from Bowery will recall fondly how we acted as his head of marketing early on, working side-by-side to brand the vertical farming company for success. And Looker’s founding team will happily share how they honed their sales pitch with their first 20 customers - which were all other First Round companies. They’ll all likely mention that we share the best tactical advice to help other entrepreneurs to do the same via the First Round Review. They’ll mention that while “community” gets thrown around a lot these days, our efforts to connect founders across First Round companies have built their most valuable set of peers. They’ll tell you that our Founder Retreat was “the most valuable professional event I’ve ever been to (hands down).” That this group of their peers not only helps them tackle tactical topics, but also provides a sense of belonging. They’ll tell you that our CEO Salons aren’t just founder dinners, they’re painstakingly-designed events to connect with and learn from other CEOs going through the tough stuff. As Kareem from Clay put it, we give founders space to “grapple with existential concerns around the values they are choosing for building their company, what success means to them and the ultimate value of their work.” They’ll tell you how crazy and all-consuming raising capital can be and what a difference Pitch Assist made. How this dedicated Series A capital team helped them craft a compelling narrative, set the right strategy and build a visual presentation that got the job done. They’ll tell you they never thought they’d spend 50 hours perfecting their pitch, but that this fundraising bootcamp is a big reason why 80% of First Round-backed companies “graduate” to Series A (compared to an industry average of 31%). They’ll tell you that their hardest job is building and managing a stellar team, and that we don’t just serve founders as individuals but the rest of their teams too. They’ll explain how Fast Track (our three-month 1:1 mentorship program), and Manager Track (our training program for first-time managers) are custom-built just for their employees. They’ll tell you how much their teams benefit from Network, our custom-built software that allows for connections with thousands of others from across every First Round company. Daniel, the head of finance at Lob, will tell you how being the only finance person at the company felt isolating and how Network helped him sharpen subject-matter specific skills and build relationships with other like-minded people. They’ll tell you that we’re obsessed with quality and constant improvement. That, like all great founders, we start small and iterate quickly. That Fast Track started off by pairing a small group of mentors and mentees together and hoping they’d get together to learn something over the course of a quarter. It’s now a program that serves over 1500 people who meet regularly with structured learning and development programming. 83% of mentees say it changed the trajectory of their careers. Most importantly, they’ll tell you that we do the right thing, even when it’s hard. That we believe in long-term thinking and if they end up shutting down the company, we won’t be out there trying to get $0.10 on our dollar. In fact, they know that we might very well be the first check into their next startup. Heck, it’s hard to explain how we’re different when every VC website says exactly the same thing. Luckily for us, founders don’t say the same thing about every VC. Sincerely, Team First Round

In 2013, we started the first venture capital fund dedicated to crypto builders. Now, we have over $2 billion in assets under management and are actively investing out of our sixth multi-stage fund. Our value prop is simple - we leverage our industry experience, conduct diligent research, and always put our founders and their teams first.

Headquartered in Silicon Valley, SVB Capital is a multi-strategy investment platform targeting the Innovation Economy with approximately $6.4B of assets under management across venture capital fund of funds, technology and life sciences direct funds, and credit funds. Since 1999, we have been the premier investment partner to global investors for accessing the Innovation Economy. The SVB Capital Direct Fund invests in early- and growth-stage companies primarily across fintech and enterprise software verticals. Leveraging SVB Financial Group’s (NASDAQ:SIVB) resources, partnerships, financial services, and vast network in the innovation economy, SVB Capital is able to support and add differentiated value to its portfolio companies across stages and cycles. Some of the firm’s notable exits include FireEye, Workday, Bill.com, Opendoor, Airbnb, Twitter, Auth0, and Root Insurance.

We are global investors and entrepreneurs at heart. Our society is faced with many challenges to overcome. However, we believe that the most significant challenges also present the greatest opportunities to shape our future actively. At Infinitas, we strive towards a better future by addressing some of the world`s greatest challenges together with our partners. We invest globally at the forefront of technology and secure, create and improve living spaces through our real estate investments. Based on our hands-on entrepreneurial approach, we provide infrastructure, our extensive network, and capital, to seed, support and scale in real estate, venture capital and platform creation. Real Estate The housing market in Switzerland is resilient and has been a safe haven asset class for several decades. We focus on providing affordable living by modernizing existing properties across Switzerland and reshaping space through our development projects. Our strategy ensures long-term value creation and stable cashflows. As we believe in dynamic and urban cities, we continuously grow our portfolio and build real estate investment companies. Venture Capital For us, Venture Capital is about shaping our future and improving lives and society in a meaningful way. We focus on founders working on finding solutions to some of society’s biggest challenges and redefining entire industries. We have assembled a global network of founders, investors, and top-tier VCs and get access to some of the most exclusive deals. With our entrepreneurial spirit and hands-on approach, we usually see ourselves as co-entrepreneurs rather than classical investors. We manage two thematic venture capital funds focusing on our core convictions. Through Korify Capital, we invest in longevity and mental health and through Prediction Capital in fintech and consumer-tech. Platform Creation Platform Creation is at the intersection of our two core pillars, venture capital, and real estate. As a result, we are constantly exposed to a large variety of startups around the globe. This exposure, both to companies we invest in and those we don’t, helps us identify opportunities where consumer needs are not yet met or parts of markets are still underserved. We then put these ideas into practice by teaming up with other strong co-founders and focusing on ensuring a positive financial return and bringing about change in our society while doing so. Therefore, we incubate opportunistically within an entrepreneurial nucleus comprising the best of our experience as investors, founders, and operators. Inifitas in numbers It has been quite a journey, but we are far from being done. Our mission is to build a one-of-a-kind ecosystem and global network of entrepreneurs, investors, and visionaries, who are all united in their desire and commitment to shaping the future for the better. 33 Portfolio Companies 52 Real Estate Assets 6 Strategies 18 Team Members 3 Pillars

Arrington Capital is a digital asset management firm primarily focused on blockchain-based capital markets. The firm, founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has invested in hundreds of startups across the world. Arrington Capital is a seasoned, international team composed of Silicon Valley veterans and operators with deep venture capital experience and crypto native roots. Arrington Capital’s first fund was Arrington XRP Capital, and has expanded to multiple funds over time, including the Arrington Algo Growth Fund and the recently launched Arrington Moonbeam Growth Fund.

We're a Copenhagen-based VC fund that specialises in providing seed funding for outstanding Danish startups. If you think VC is all about money, you’re wrong. We’re here on the mandate of our LPs to back founders that are able to form grand companies that solve some of the most important problems of our time and approx 70% of our portfolio converts to series A, which is well above the European standard among venture funds. We also participate in follow-up funding rounds syndicated with new international VCs. We have existed since 2004 and have raised close to €500M across 4 funds and 1 growth fund.. We raised €140M for our latest fund and have already made our first 11 investments with more to come. We take pride in helping our portfolio companies all the way to exit. We back exceptional Denmark-based founders all the way to exit. More than 70% of our companies convert from seed to Series A, making us one of the best-performing funds in Europe. We’ve made 60 investments, 10 exits and 5 IPOs over the past two decades and have just raised €140M for our next round. Come and grow with us. OUR STAGE: Seed - 12-18 months before Series A or early A-rounds OUR TICKET SIZE: €2-4M initial investment Is this the next category winner? It’s the first and most fundamental question we ask when considering any investment - and it’s why 70% of our investments convert to Series A. We gravitate towards solutions that ride the wave of underlying macro trends with transparency and/or user generated content. Our portfolio contains both consumer and Deep tech but the majority of our investments are within Fintech and SaaS. Actually, we’re the largest Fintech investor in Denmark. So what we really love...Team: Team is the numero uno driving force behind any startup success. For us, the perfect founding team are die hard executors with a bold and ambitious vision. We seek a strong mutual chemistry as - in our experience - it’s the foundation for a great long-term partnership. Early Customer Love: Being a late seed investor implies a true love for initial traction. While initial traction isn’t a guarantee of future success, it says something about your execution power and the initial product-market fit, both of which are important markers for us. Traction isn’t a uniform thing, but to give an example, we typically wouldn’t invest in a SaaS business before it reaches 50 KEUR MRR. Scalable Business: We invest in tech startups with the potential to reshape an industry, category, or vertical within 8-10 years. When investing, we understand that you’re not there yet but we still look for early signs of strong scalability - i.e. profitable repeatability. Timing: Timing (and also a bit of luck) are often key ingredients for success. We need to understand why the market needs your solution now? We love solutions that are built on strong forward-looking macro trends such as transparency, user-generated content, or you tell us. Deep Insights: There’s no ‘one’ way of building a category winner, but they are all rooted in tackling a unique and big problem. This often starts by having experienced the problem first-hand, or through substantial industry experience. We love founders who are extremely nerdy with the problems they solve. They have first-hand experience on the pain of their customers and know where the gain is. What typically makes us fall out of love...Business-to-government (B2G) - selling to the public sector A solution that solves low-priority problems - i.e. must be in top three for customer Solving overly time-bound problems - i.e. the problem becomes less relevant over time Inexperience combined with over confidence Homogenous founder team - though, we have invested in several solo founders 🤔 Not aware of what success demands in terms of organisation, product and commercial expertise Messed up cap table - Let's fix this together With you all the way Since 2004, we’ve made 60 core investments and doubled down on breakout companies like Dixa, Endomondo, Fullrate, Lunar, Templafy, Trustpilot, VEO and Vivino. To date, the companies that we’ve invested in have gone on to raise more than $2.6BN. When we invest, we invest far more than just capital. We know how to stay the course In almost 20 years of investing, we’ve lived through more than a few economic crises. We’ve invested in almost every type of industry and been on almost every type of venture journey. It’s this collective body of experience that is the essence of our value to you as a founder. We know which steps to take, which corners to cut, and when not to panic. A partner all the way to exit. We’re *not* spray and pray. We only ever invest in a few companies per fund and we have the time and money to help you to the finish line. Deep knowledge and a long-term commitment. We and our network of SEED Friends & Family have all been on the growth journey multiple times. We truly understand your business, share your vision, and will be by your side through the ups and downs. We collaborate with our founders on setting a strong board and management team. Someone you can confide in - both on what works and, even more importantly, what does not work. Close to founders. Proximity matters because it helps us build closer relationships with our founders. Plus it gives us the time and opportunity to have physical meetings when needed - some conversations are just easier face2face. The founder to CEO journey. We help the team grow from seed stage founder-centric team to a Series A mature management team (initial growth stage). Shape company for Series A. We re-engineer the process of raising a Series A and work methodically with GTM, metrics, unit economics, and a fundable team. We use our strong local network to help our companies find initial traction and make key hires. Raise next funding round. We have a strong network of international venture funds and we have worked with several of them for years. Furthermore, we have set aside a substantial amount of the fund for follow-on capital to provide you with a solid commitment going into the A round and beyond. Proven track record. Approx 70% of SEED Capital’s portfolio companies convert to series A, which is well above the European standard among venture funds, and a testament to our strategy of only investing in 3-5 new companies per year allowing an experienced team and capital to actually work with and support founders throughout their full journey. Join our #SEEDfamily. At times, the founder journey can be lonely. At other times, it can make you the happiest person on earth. With us, you’re not alone - you’ll be in great and mighty company.