Investment Overview
Strategy Description
*Top track record: Our first fund (Rubicon Venture Capital) has returned nearly 3x, currently at a 33.4% IRR and expects a min 5x cash-on-cash return. Fund II is similar, currently at a 46.27% IRR and expects a 10x+ return. Fund II has already made 3 investments and nearly up in value 3x. We are actively making new investments and seeking deal flow that has a min of $100k MRR for Late Seed to Series A & B investments.
*Making VC a liquid asset class: VC has evolved from 10 years ago. There are secondaries happening in most Series B+ rounds. Our fund plans to sell 5-20% of the fund position opportunistically to return the fund faster and make the asset class more liquid.
*SPVs for deal by deal investing: LPs may chose to keep the cash from our early secondary selling or recycle the cash into the growth round or double down and invest more cash in growth rounds. We sell our own secondaries to our own LPs and provide access to later stage investment rounds normally impossible for angels to access. Our later stage investing via SPVs expect lower multiples, but to definitively exit in 1 to 3 year time frame.
*A string of home runs: in recent weeks our portfolio actively raised significant rounds with Superhuman raising a $75m round led by IVP, Super Coffee closing a $70m round led by Durable, Nylas raising $115m led by Tiger Global, Daily Harvest doubled revenues from 2019 to 2020 breaking $250m ARR and profitable and poised to have a banner 2021 year. Other portfolio companies raising $50m+ rounds all at high valuations where we were in these companies at relatively low valuations such as $8m to $30m for the above.
*LP-IR program: Limited Partner-in-Residence program. For investors investing $1m+ they can place a family member if we get along as an associate in our office and we will train them on VC and they will get our full network of VCs, entrepreneurs, etc and can get into a top MBA program or rotate back to the family as a VC.
*Seed to Series A/B + SPVs for LPs
*FinTech, AI, Automation, Enterprise SaaS, Consumer Internet
*Silicon Valley & North America