Feld Thoughts

JANUARY 6, 2014

This morning we announced that we have closed a financing in OnTheGo Platforms via our FG Angels syndicate. On October 1st, 2013 we announced that we’d be forming an AngelList syndicate called FG Angels and making 50 seed investments through AngelList by the end of 2014. would come from syndicate participants.

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Syndicate Syndication Government Finance 133

Feld Thoughts

JULY 24, 2014

If you’ve been following along at home, you know that we recently created an AngelList Syndicate called FG Angels. We’ll contribute $50k to each investment; our FG Angels Syndicate will contribute up to $450k. 2 angels are considering creating their own AngelList syndicate as a result of their experience.

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Syndicate Syndication Colorado Angel Groups 132

Feld Thoughts

SEPTEMBER 29, 2013

In addition to being provocative, it lined up nicely along a few others posts on this topic from Fred Wilson ( Leading vs Following ), Hunter Walk ( AngelList Syndicates Will Also Pit Angel Against Angel ) and Howard Lindzon ( So You Want to Angel Invest…Be Prepared to Lead and Follow.) is out and is amazing. Get yours today.

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Syndicate Syndication Venture Capital Chicago 125

Feld Thoughts

JANUARY 20, 2017

At Foundry Group, we learned a lot by running our own FG Angels syndicate. AngelList syndicates helps enable seed stage investing at scale. The AngelList funds will give mentors and alumni early investment access while providing companies with additional early stage capital.

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Syndicate Syndication Seed Stage Vertical 70

Feld Thoughts

JUNE 23, 2014

In an effort to experiment with a different approach, we recently led an AngelList syndicated investment in one potential search challenger, a Kansas City based startup called Leap.it who is taking a different approach based on the belief that machine-based algorithms can only get you so far.

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Search Kansas City Kansas Syndicate 141

Feld Thoughts

MAY 8, 2017

Or live music that is syndicated from a different partner. Sonos doesn’t have to look very hard to figure out what to do since they – well – are central to music and have integrated many subscription services. Give me a free month of a service I haven’t yet activated. Or maybe special access to curated channels.

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Disintermediation Syndicate Syndication Curation 115

Feld Thoughts

JUNE 20, 2014

Part of this strategy is that we are syndication agnostic – we are happy to go it alone through two or three rounds of a company if we have conviction about what they are doing. We are equally happy to syndicate with one or two other VC firms.

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Early Stage Later Stage Syndicate Syndication 147

Feld Thoughts

OCTOBER 1, 2015

We’ve made over 60 investments through FG Angels – our AngelList syndicate – and are one of the most prolific investors on that platform. I encouraged Greg to have an extensive syndicate of VCs and angels as the goal was to build an engaged, invested community around PSL.

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Seattle San Francisco Angel Investor Syndicate 70

Feld Thoughts

DECEMBER 10, 2014

We are syndication agnostic and are happy to continue to finance strong, later stage companies in our portfolio with or without new co-investors. They are maddening to mature CEOs who have built real companies that dominate their market segment but are in either an out of favor segment or using an approach (e.g.

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Later Stage Syndicate Syndication Portfolio 142

Feld Thoughts

SEPTEMBER 21, 2011

Today, TechStars announced that they’ve raised $24 million from a broad syndicate of investors to fund an additional $100,000 for every TechStars company going forward.

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Syndicate Syndication Seattle Angel Investor 137

Feld Thoughts

JUNE 20, 2014

Part of this strategy is that we are syndication agnostic – we are happy to go it alone through two or three rounds of a company if we have conviction about what they are doing. We are equally happy to syndicate with one or two other VC firms.

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Early Stage Later Stage Syndicate Syndication 108

Feld Thoughts

AUGUST 10, 2010

In this case neither Niel (nor I) had any interest in creating a traditional syndicate to fund the company. The meat of the funding story follows: “Of course coming up with the idea is the easy part. Executing against that idea is another matter.

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Syndicate Syndication Angel Financing Finance 120

Feld Thoughts

JUNE 25, 2015

.”) But at the end of 2013, when the JOBS Act became official and AngelList created Syndicates, we decided to understand the phenomenon better by participating in it.

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Syndicate Syndication Limited Partner Finance 70

Feld Thoughts

JUNE 23, 2014

In an effort to experiment with a different approach, we recently led an AngelList syndicated investment in one potential search challenger, a Kansas City based startup called Leap.it who is taking a different approach based on the belief that machine-based algorithms can only get you so far.

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Search Kansas City Kansas Syndicate 73

Feld Thoughts

JULY 30, 2015

We are syndication agnostic – we’ll invest with other VCs or invest by ourselves. We are early stage investors – if you’ve raised more than $3 million you are too late for us. We only invest in the US, but will invest anywhere in the US.

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Minneapolis Phoenix Portland Syndicate 70

Feld Thoughts

JUNE 29, 2014

Venture Capital gompers hbs syndicate VC' And don’t co-invest with someone who has no ability just because you went to the same school, are the same ethnicity, or once worked together. The post When VCs Invest Together, Does Ability or Affinity Matter? appeared first on Feld Thoughts.

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Venture Capital IPO Syndicate Syndication 139

Feld Thoughts

AUGUST 1, 2016

As part of our overall strategy, we have long described ourselves as syndication agnostic. We proactively offered to lead a financing rather than have Dan and team run around few a few months. We are happy to invest with others, but we are also happy to lead rounds ourselves in companies we’ve already invested in.

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Finance Balance Sheet Syndicate Syndication 70

Feld Thoughts

JUNE 29, 2014

Venture Capital gompers hbs syndicate VC' And don’t co-invest with someone who has no ability just because you went to the same school, are the same ethnicity, or once worked together. The post When VCs Invest Together, Does Ability or Affinity Matter? appeared first on Feld Thoughts.

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Venture Capital IPO Syndicate Syndication 111

Feld Thoughts

JUNE 3, 2011

We have a very clear thematic strategy that we’ve discussed openly, along with a few other key principles such as being willing to invest anywhere in the US and being syndication agnostic. At dinner we zoned in on all of the current activity in early stage tech.

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Syndicate Syndication Distribution Early Stage 129

Feld Thoughts

APRIL 29, 2015

Another company that did an awesome transparent funding announcement was Buffer (and app and company I love, but am only a tiny investor in via an AngelList syndicate) when they announced We’re Raising $3.5m in Funding: Here is the Valuation, Term Sheet and Why We’re Doing It. Data, data everywhere. And lots and lots of story.

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Atlanta Valuation Term Sheet Finance 70

Feld Thoughts

MAY 8, 2012

We are syndication agnostic – happy to invest alone and equally happy to invest with firms we like to work with. We are geographically agnostic – anywhere in the US – about 33% of our investments are in Colorado, about 33% are in California, and the rest are spread around the US.

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Seed Stage LP Warrant Syndicate 138

Feld Thoughts

AUGUST 2, 2010

At Foundry Group, we describe ourselves as being “syndication agnostic&#. This means we are completely indifferent as to whether we fund something ourselves or with other VCs (e.g. each are equally happy situations.) In addition, we are equally delighted to co-invest with angels and super angels, or not.

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Angel Investor Cofounder Syndicate Syndication 152

Feld Thoughts

JANUARY 5, 2016

After two years of a dedicated experiment, we’ve decided to stop making new investments via our FG Angels Syndicate. The Monday after AngelList announced their Syndicate product in September 2013 we decided to to jump in with both feet and start FG Angels. Average syndicate investment amount per deal: $316k.

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Syndicate Syndication Angel Investor Portfolio 70

Feld Thoughts

JUNE 6, 2012

We describe Foundry Group ‘s behavior as “syndication agnostic.” Because we are syndication agnostic, we are delighted to work with great co-investors and welcome and encourage the interaction and partnership. ” When we make an investment, we are completely agnostic as to whether or not we have a co-investor.

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Syndicate Syndication Cofounder Angel Investor 136

Feld Thoughts

JULY 14, 2015

If I was leading a gang of friends (that’s what I called it before the word syndicate started to be used), and that gang had put in $200k alongside my $25k, I’d encourage my gang to do the same, and they often did.

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Recapitalization Pre-Money Valuation Post-Money Valuation Angel Investor 70

Feld Thoughts

AUGUST 1, 2018

We are syndication agnostic, being indifferent between investing by ourselves or with co-investors – especially our partner funds – where we mostly have long and successful relationships. We now have seven equal partners. We invest all over the United States and Canada.

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Syndicate Syndication IRR Canada 17