Brian Rich

#orion #Sweetwater_Royalties Orion Resource Partners, a global investment firm specialising in metals and materials, has sold an 8% minority interest in Sweetwater Royalties, a private industrial minerals royalty company, to a Canadian pension fund for $100m. The transaction implies an approximately $1.9bn enterprise value for 100% of Sweetwater Royalties, with Orion retaining a 67% majority ownership share in the asset, having sold a 25% stake to Ontario Teachers’ Pension Plan in March 2023 for approximately $220m. https://lnkd.in/gkKMP3Tr

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While there is extensive analysis available on how boards of established companies should operate, especially those in the public interest or publicly traded shares, there is very little guidance on how to make venture boards work effectively. Based on our experience across board roles, board advisory work and mentoring chairs and NEDs, we outline in this article five considerations for venture businesses to make their boards more effective https://lnkd.in/eXDHTwpg #boardeffectiveness #neds #boardsofdirectors

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Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

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I'm pleased to share that Lightrock has continued to support Thomas Doering and Distribusion Technologies in their $80 million Series C funding round. Distribusion is the leading global B2B ground transportation marketplace, addressing inefficiencies in this €700 billion market. The industry’s progress has been hindered by legacy technology, making multi-modal travel planning and booking difficult and time-consuming. This increases costs for consumers and negatively impacts sustainability as travellers opt for private cars and taxis over less polluting transportation options. Using a single API, Distribusion connects transport carriers like National Express LLC, Amtrak, and Deutsche Bahn with retailers such as Expedia Group, Google Maps, and Alipay. This allows consumers to seamlessly compare and purchase tickets on trusted platforms. There's a high likelihood that Distribusion has facilitated your travel without you knowing it. We led the company's Series B in 2022, and since then Distribusion has grown tenfold, creating the largest global B2B network of ground transport operators. This growth, combined with achieving profitability, has encouraged us to reinvest and continue with this company on this exciting journey. We look forward to continuing our work with this team. Learn more about #Distribusion via the link in the comments. #TravelTech #FutureOfTravel

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The emerging #privateequity #CFO is a vital linchpin, balancing the financial acumen, operational resilience, and strategic foresight poised to unlock new dimensions of success in an ever-changing landscape. #valuecreation https://ow.ly/wNch50RpffF

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Building on the success of Rocket Studio with Simon Kirby and Pivotal with Dominic Joseph we decided to merge with Impact Counsel, led by the awesomely talented John D., Erim Jones and Robert Fok earlier this year. We’ve combined our significant and complimentary skills, experience and passion for growing amazing businesses to create a new breed of VC - Creative Capital Ventures Group (CCV). Fund 1 is focused on Sports, Media & Entertainment. Joining us on this exciting journey is media titan Tom Rogers (ex CEO Tivo & CNBC). We have also assembled a mighty team of Venture Partners bringing their expertise into our team, with the legendary Harvey Goldsmith leading our Immersive Entertainment category, and Cam Blackwood (Platinum award winning record producer) and his team at Rezonate heading up Music Rights acquisition. Creative Capital Ventures is designed to disrupt traditional VC models and accelerate the growth of innovative start-ups. We’ve already secured €18 million in commitments and are raising €35 million in total to fuel the next generation of game-changing businesses. What makes CCV different? •⁠ ⁠Founder-Led Expertise: Our team comprises serial entrepreneurs and operators who have built, scaled, and exited successful companies. We know what it takes to drive rapid growth. •⁠ ⁠Speed Scaler: Through our unique venture studio model, we’re not just funding companies—we’re actively accelerating their growth, shrinking the timeline from seed to exit. •⁠ ⁠Industry Focus: CCV focuses on high-growth sectors like Sports, Media, Entertainment, and Lifestyle, with a unique emphasis on IP acquisition to drive returns in stable asset classes. If you're interested in learning more about how CCV is reshaping the venture capital landscape, let’s connect!  More updates to follow! #VentureCapital #Innovation #Entrepreneurship #Startups #ScalingFast #CreativeCapitalVentures https://lnkd.in/eiuWVtvT

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It’s BOD & AGM season. After 9 BOD meetings and 7 AGMs there is a common theme. “Generally” Emerging Fund 1&2 managers w/o firm building experience; and Founders/ELTs who raised pre-seed generalist and family office party rounds at Seed or crossover/hedge fund capital at Series A. Same general dynamic… experience matters. #venturecapital #emergingmanagers #startups #familyoffices #lps

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Acquisitions come in two flavors: Friendly and not-so-friendly. When it comes to #M&A, the real work begins when most people believe the deal is "done." #privateequity #valuecreation https://ow.ly/OJhJ50RWrvY

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As we continue to invest in exciting healthcare growth companies and think about the Future of Healthcare we have been included in this GIIN/FT overview of impact investors - acknowledging the fact that our focus on building healthcare infrastructure and local manufacturing of medical products creates tremendous impact.

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Great speech by Howard Marks, which I think is worth a watch whether you’re a founder, investor, or both. He dives into key principles from his memo, Navigating The Sea Change, and highlights a profound shift: the 2,000-bps change in interest rates over the past 40 years. This shift has major implications for the business and financial climate. Falling rates historically stimulated the economy, reduced the cost of capital, and increased risk-taking. But now, with rates stabilizing at a point that is higher than post-2009 but lower than decades past – we could face slower economic growth and lower profit margins. The key takeaway? Founders need to realize that the type of financing they’ve grown accustomed to in recent years will likely become less available. Investor expectations and terms are changing, and entrepreneurs need to shift their strategies accordingly. We believe this holds true, even with the Fed’s announcement last week to begin lowering rates. This could mean the need for maintaining a longer runway, complementing equity investments with more debt, working with new types of investors, and more.

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There's been a lot of discussion lately, & understandably so, on the lack of liquidity for LPs & what reckoning that may bring for fund managers (secondary fund anyone?!?). Many have characterized the IPO or M&A markets as "lukewarm" at best & before I saw this chart, I would have agreed. But this data surprised me. The number of M&A exits hasn't grown vs. the post-COVID mania of '21 & '22, but it's not declining either. The growth in exits in '23 & '24 is still ~2x or ~3x vs. '19 & '20! According to Peter Walker, of the ~42k startups currently on Carta only 288 were acquired in 2024, an exit rate of just 0.7% 😳. It's still just as difficult as ever out there, but there are reasons for optimism & a case to be made for resiliency if you look hard enough.

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Reflecting on the enriching discussions at the recent PEWIN - Private Equity Women Investor Network CIO Roundtable in Boston. It was a joy to hear from panelists Letitia Johnson (Amherst College), Deb Shufrin (Colby College), Abigail Wattley (Williams College), and moderator Sarah Samuels, CFA, CAIA (NEPC, LLC). Some of my key takeaways: From the CIO perspective, alignment with the board is paramount. Portfolios experience ebbs and flows, emphasizing the necessity of a board committed to long-term strategies. Data underscores the repercussions of misalignment—allocators often undermine value by prematurely exiting positions for liquidity needs or reacting impulsively to market fluctuations. Across the board, CIOs prioritize firms that can articulate their competitive edge, foster sustainable organizations with top-tier talent, culture, and succession planning, and demonstrate agility in evolving markets. A robust LP base providing long-term support and institutional guidance is also crucial. Success isn't about funding billionaires—it's about supporting determined individuals committed to sustained success. Privates demand more than short-term commitment—they require a relentless desire to succeed over time. For a deeper dive into the role of CIO, I highly recommend The Counting House by Gary Sernovitz. #CIOInsights #PEWINRoundtable #InvestmentStrategies

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As a venture investor at M13, I often think about the shifting M&A regulatory landscape and its impact on the innovation my industry seeks to support. My goal is to drive towards a regulatory environment that fosters innovation and supports the growth of the venture investment industry, creating a win-win situation for both investors and consumers! Check out this piece on M&A and Innovation, where I debunk some common myths regarding this vital part of the innovation ecosystem. I’d love to hear your thoughts! https://lnkd.in/eV4MVTwv

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It was a great pleasure attending the Operating Partner Forum in London this week and engaging in thought-provoking discussions with industry peers, sharing best practises and learning how they are tackling some of the headwinds we are facing. The event covered a range of topics, but high on the agenda was the digital strategy and how to leverage AI as a driver of value creation. Here are my top three takeaways: #1 AI is coming, but getting the fundamentals right matters more: While AI has great potential and we will see significant product enhancements and productivity boosts opportunities in the near future, the real value today comes from getting the basics right. Strong processes, controls, an effective operating model, and robust data structures and systems are crucial for success. #2 Data maturity and organizational readiness: It's essential to assess and improve your organization's data maturity to ensure readiness for advanced analytics and AI implementation. This is a journey not a sprint. #3 Clear ownership of the digital agenda: Clearly distinguish between IT roles (infrastructure, architecture, cybersecurity) and data analytics roles lead by business and addressing business needs. This separation helps ensure we are addressing effectively real business needs and driving the digital strategy forward. #operatingpartnersforumeurope #operatingpartner #valuecreation #privateequity #carveout #transformation #parlementiacapital https://lnkd.in/ee_s_Gdb

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Thanks Thomas Anglim for helping business owners and investors gain deeper insights into our firm.

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Too many small and mid-sized businesses struggle with capital constraints out of fear and misunderstanding. Sourcing the capital required to remove those constraints is key to unlocking the value creation potential of these companies. https://lnkd.in/gRYTKEmN #smallbusiness #businesstransformation

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Navigating VC due diligence as a founder? Chris Neumann’s article, "A Founder's Guide to Appropriate VC Due Diligence," is a must-read! From reasonable requests to red flags, he breaks down what’s fair and what’s not, empowering founders to spot the difference. Big thanks to Panache Ventures for sharing these insights—essential for any founder gearing up to meet investors! https://lnkd.in/dDAPy-jg #VCDueDiligence #StartupAdvice #InvestorRelations #ChrisNeumann #PanacheVentures #Fundraising #FoundersGuide #VCInsights #StartupTech #OCStartup #OCSC #California Scott Fox 🦊

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Exciting to see infinitas capital and Opportuna featured in Bloomberg as part of the growing conversation around family offices and the secondary market. With liquidity tightening and investor demand building, Opportuna is seizing the potential of venture secondaries, offering an avenue to unlock liquidity and realize solid gains within a shorter timeframe. To learn more about @Opportuna and our strategy, reach out to Alban C. or Christopher L.R. Chuffart

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