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It’s also the natural next step in over a decade of collaboration between its co-founders, Jessica Verrilli and April Underwood. What We Do We invest in early stage companies, typically from pre-seed through Series A. From idea through product-market fit and beyond, we back founders who bring an insight about a market, an audience, or problem space and a drive to fully realize their vision on the largest possible scale. We support those founders with our own hard earned experience and access to an exceptional network of leaders and builders across the industry. Our History Jess and April first met at Twitter, where they played key roles scaling the business from early-stage startup (Jess was employee #34 and April joined at #150) to public company and beyond. April built and led product and partnerships teams, and Jess built the corporate development function, acquiring 30 companies and meeting with early-stage founders every day. After her time at Twitter, April joined Slack at 150 employees to lead product and platform as its first Chief Product Officer through 10X growth in employees, revenue, and customers. Jessica joined Google Ventures (GV) as a General Partner where she invested across stages for over 4 years. You can read more about each of their backgrounds here. Along the way, in 2015, Jess and April along with four Twitter colleagues co-founded #ANGELS, an angel investing collective which has gone on to serve as a model for other alumni syndicates from companies around the world. Between the two of them, Jess and April backed 75 companies, and through #ANGELS built a distinguished community of operators and founders through dozens of events, a podcast, and a network of relationships across the venture capital landscape. In 2023, Jess and April teamed up to build Adverb Ventures, a new venture capital firm backing early stage startups with hyper-growth ambitions. Adverb invests in exceptional founders who seek to redefine existing categories or create new ones. Jess and April closed the inaugural Fund 1 in the first half of the year and are both full time actively investing and building Adverb. What's in a Name? Through our many years working for and with founders building breakout companies, we’ve come to the conclusion that it’s not just what you’re building that matters but also how you choose to build it. There are a lot of ways to build great businesses, and strategic choices to make at every step along the way. Ultimately, the adverbs matter as much as the verbs. And of course, that adage is true for investors too. Our job is to pick the right founders and opportunities and to tilt the odds of success in their favor. Our mission is to be the investor who helps our founders navigate the most crucial moments of building their business, showing up both substantively and empathetically.

Chamaeleon is a new early-stage venture capital firm that brings together 3 partners that have long collaborated as investors, operators and entrepreneurs that will focus on investing in truly transformative companies. We have learnt from our experience to see near and far, to be global and local, to be strategic and pragmatic, all at the same time. Our “superpowers” have helped numerous entrepreneurs craft breakout successes and with Chamaeleon, we will take it to the next level. For an industry that is fueled by technology, its innovations and the sometimes stratospheric returns on its investments, venture capital - in particular in early-stage - is an industry surprisingly lacking in technology, at its core. Although the operating models and playbooks used to source and do due diligence on start-ups - in our opinion, the two most core activities in VC - have evolved over time, there are very few impactful innovations around the core technology stacks that VC firms actually develop or bring together. Therefore, we are bringing a full-stack approach to VC investing with our own early-stage investing technology stack at the center of everything we do. We will also use these platforms to create value to portfolio companies and our own investors/LPs. This partnership has invested in companies like App Annie, DraftKings, Gusto, Kakao, Outsystems, Robinhood, Rubrik, Virta Health, Cloudflare, Ometria, among many other “household” names. We have led and managed 5 VC funds between us with enviable returns, including top 2 to 5 percentile funds. We have created verifiable impact at-scale as operators in such household names as NCSOFT, McKinsey & Co, GSM Association, SK Telecom, Sonae. We have jumped off a cliff before and started our own companies… and we are doing it all over again, because we don’t rest on our laurels, because we have a fundamental new way of looking and executing in this space, because we love and feel blessed by being in venture capital… and because, deep down, we just want to do this, together. Last, but most certainly not the least, we are big believers that as much as technology will augment us… as much as our insights and instincts will support our decisions, people are still at the center of all of this. We have built unique networks of truly astonishing and generous people, not just in the geographies where we will have our offices, but around the world, where we will operate. All of us have worked in at least 3 different continents and will continue bringing to entrepreneurs all the resources that we have access to as individuals, as a firm, but also from our broader ecosystem of investors/LPs, advisors, friends. We will continue bringing a humanistic values-based approach to this profession (we don’t call it a job, around here): we will continue treating entrepreneurs’ start-ups as their babies… because they are; when we are tough, we will continue being thoughtful, fair and charitable.

We’re investing up to $50 million across startups that are building the next generation of AI-powered apps and tools. Supporting the next generation of tech entrepreneurs Not too long ago, Dropbox was an early-stage startup with a simple idea: make it easier for people to access files and collaborate from anywhere. That idea grew into a service used by hundreds of millions of people around the world. As a founder-led company, we understand the unique challenges and opportunities of early-stage development. And we’re here to help startups around the world reshape modern work with innovative AI experiences. Accelerating innovation through AI funding Dropbox Ventures is more than just a funding program - it’s a strategic partnership. We’ll work closely with our portfolio companies, providing mentorship and potential exposure to over 700 million registered Dropbox users who can benefit from their product. What we’re looking for:The biggest ideas: That can transform how we work The best new tech: Unique, AI-powered apps and experiences The most talented teams: With a track record of success and innovation

Kibo Ventures was born in 2012 in Madrid (Spain) with the mission of empowering diverse European tech entrepreneurs to solve big problems and helping them scale. Our team is a combination of operational and investment experts with deep international networks in Europe and US including some of the best founders, investors and corporates. Since 2012, we have built one of the largest VC teams in Southern Europe. Our team and investors are committed to impact, diversity and believe in driving global positive impact while achieving top returns. We include social and environmental criteria in our investments. Our numbers4 funds €300M AUM Assets Under Management 63+ companies invested 1 IPO and 5 Unicorns 14+ relevant exits to companies like Paypal, Airbnb, Groupon and others 3 offices in Madrid, Barcelona and Lisbon 25+ entrepreneurs as LPs in our funds 20%+ female founders Investment thesisWe invest in early-stage companies that are ready to scale globally We lead and co-lead pre-Series A or Series A rounds We are sector agnostic: both consumer and enterprise software Our initial investment range is €2m - €5m, targeting 10-20% ownership We look for teams building global companies that leverage local development and operations, while scaling in bigger markets We favor proven product-market fit and readiness to scale massively We are always open to co-invest with the right partners How we help We listen, respect, hope for the best and are willing to help Recruiting: We have helped our portfolio companies hire 100+ key employees. Several portfolio companies over 200 employees. Building & growing: We supported our portfolio companies via strategy, network and sales actions, resulting in over $4B of total portfolio value. Fundraising: 90% of our companies have raised Series B or exited after our investment, 55% have raised money from international investors. Exiting: We have sold 10+ companies to relevant global companies.

Our approach keeps founders at the heart of everything we do. We areConviction-led: We value independent decision-making and lead all our investments. Long-term partners: We stay fully committed to founders' vision, no matter how long it takes. Sector specialists: We each focus on specific sectors to build a deep, informed point of view that fuels our investment strategy and portfolio support. Transparent: We keep founders in the loop and prioritize honest communication, making us partners they never have to second-guess. Engaged: We believe in staying actively involved through meaningful board participation and functional support. Our journey started like many other startups – in a Bengaluru basement 2016 When we set out to raise our first fund, the Indian VC landscape was shaky at best. Investors were cautious, several foreign VC majors had left the ecosystem, and successful exits were hard to come by. Amidst skepticism about the Indian market, we defiantly believed that the "golden decade" of Indian technology was upon us. We saw an opportunity for VC 2.0 in India – one that was stage-focused, expertise-driven, and committed to prioritizing real growth alongside valuations. Undeterred by a tough fundraising climate, we knocked on 1,200 doors to raise Stellaris’ first fund. These early struggles shaped Stellaris’ culture, allowing us to fully resonate with the fundraising challenges faced by early-stage entrepreneurs. 2017 We launched our first fund of $90 million. From the outset, we established a principle of having specialists on our team, enabling us to tap into deep sector knowledge, spot promising opportunities, and provide tailored support to the companies we backed. Out of our 19 investments in our first fund, 9 surpassed a valuation of $100 million, with several others on track to achieve this milestone. 2021 We closed our second fund of $225M and backed 25 companies, many of which are poised to become the leaders of tomorrow. We also had our first significant exit in the portfolio when 6Sense, a US SaaS company, acquired Slintel, in which Stellaris was the first institutional investor. 2023 Our portfolio company, Mamaearth, which we backed at the Series A stage in 2018, successfully completed its IPO. 2024 We launched our third fund of $300M and are now managing over $600M in assets. We're ready to support the next wave of innovative businesses with the same grit and determination that brought us here.

Our ecosystem is a critical part of our success and includes developers building on top of our products, Marketplace Partners, and our Solution Partners. This ecosystem is as important as ever as we focus more and more on our cloud-based solutions. We’re committed to doing our part to ensure a vibrant ecosystem, and now this includes putting our money where our mouth is with investments. Developers at the start-up stage are an important audience for the venture program. We’ve been amazed at how our ecosystem has innovated on top of Atlassian’s products and we want to enable their success and growth. Atlassian will invest in three types of companies that are critical to our ongoing success:Early-stage (targeting seed rounds) startups building apps for our cloud products. We hope to include both existing ecosystem developers and new teams in this category, and are excited to give them an opportunity to grow. Larger, more established product partners scaling their businesses. These investments will be made in partnership with institutional investors, and will generally target series A onwards. Existing sales channel partners looking to step up their cloud services and create new products that support the future of teamwork.