Francis Ebong

🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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One of the things we see quite often at Grit Capital Partners, is a newly minted CEO. We see a big difference in the transition to CEO based upon the historical lane the CEO is coming from. There are different new muscles if you are coming from Product, Engineering, Finance, etc. In this article, we go deep on the CRO to CEO transition, which includes some thoughts from Rosie O'Meara, a particularly fine example of someone who has made the transition quite well. What were your biggest transition moments? https://lnkd.in/eEB-K2ZU

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Trump's second term presents opportunities for VC/PE and startups through deregulation and innovation-focused policies, but challenges like stringent immigration rules, reduced AI funding, and fragmented regulations may hinder startups and global talent access. In this post you can find more details. Digital Data Design (D^3) Institute at Harvard #MTLC #BostonTech #BoardReadyBootcamp #TechTop50 Harvard Innovation Labs #PE #VC #Startups

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📈 AI Startup Sierra Expands HQ in San Francisco (4K to 41K SF) 🌁 Artificial intelligence firm Sierra is making a bold move by relocating to a larger office within San Francisco. The startup has signed a lease for a 41,104-square-foot space at 235 Second St., significantly upsizing from its current 4,000-square-foot office. 🏢 This move to San Francisco's South of Market neighborhood, where office vacancy rates have started to decline for the first time since 2020, is a positive sign for the city's hard-hit office market. The area's office vacancy rate, though still high at 28.8%, is slightly lower than six months ago. 📉 The deal contributes to the increase in leasing activity in San Francisco, which is up by about 1 million square feet compared to last year. This uptick is driven by the region's reputation as a leading national hub for AI companies. 💼 Sierra joins other AI firms expanding in the South of Market area, including Scale AI, which signed the city's largest office lease of 2024 with a 178,000-square-foot deal. So far this year, office tenants have signed leases totaling 750,000 square feet in South of Market, a significant increase from last year's 370,000 square feet. 🚀 Co-founded in 2023 by former Salesforce CEO Bret Taylor and former Google executive Clay Bavor, Sierra raised $85 million earlier this year to develop a customer support AI tool for businesses. The firm is set to relocate from its current space at 215 Second St. by next month. San Francisco's reputation as an AI hub, bolstered by its talent pool and six major AI research institutions, continues to attract companies. Recent significant deals include OpenAI’s sublease of over 400,000 square feet of Uber’s former headquarters and Anthropic’s takeover of Slack's former headquarters. These developments reflect a resilient and adaptive real estate market. As a commercial real estate professional, I’m excited to see how these trends shape the future of office space in our vibrant city.

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The global talent shortage in supply chain is pushing leaders to think creatively. As hiring challenges persist, many are turning to emerging technologies like AI to bridge the gaps left by vacancies. Last week, I had the chance to engage with other Gartner Peer Ambassadors during a group discussion led by Gartner Peer Experiences. We explored the future of procurement, where AI could manage repetitive tasks, allowing professionals to focus on higher-value work. This shift could particularly benefit small to mid-sized businesses, enabling them to operate efficiently without the need for large procurement teams. We also addressed strategies to attract and retain top talent while fostering a forward-thinking workplace culture. It’s clear that technology will play a pivotal role in redefining how we approach talent management. I find great value in these interactions and look forward to participating in more discussions in the future. Kudos to the industry leaders involved! Sabine Bieschke, Ivana Josipovic, Mohammad Saim, Michael Matisz. Special thanks to Lainey Seaton and Christine DiNapoli! #Gartner #Leadership #PeerCommunity #SupplyChain #AI #TalentManagement

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Amazon Connect, Trouble managing costs? Lengthy feature activation? Expensive deployments? SOW madness? Morse Code is your answer. Sign-up for FREE today to gain never before centrally packaged insights into your #AmazonConnect environments and gain access to a set of tools that will accelerate your CX Journey. #CCW #MorseCode

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A big part of making AI usable is enabling testing to provide the necessary assurance that outputs make sense. Distributional is leading this capability.

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If we want to see more diverse top companies like NVIDIA, we need to pave the way at the earliest stages—venture capital is that on-ramp. It was a pleasure to join Emerging Manager Office Hours hosted by Venture Forward earlier this week. Thank you to Rhianon Anderson and Maryam Haque for organizing such a value add event! A few (other) big takeaways to share: 👉 Distinguish the Curious from the Serious: Focus your time on LPs who are truly engaged. There are many LPs out there still excited about and committed to the VC asset class. 👉 Showcase Portfolio Performance: With liquidity tight, highlight KPIs, revenue growth, and the value your companies are building now to position for success when markets rebound. 👉 Clearly Differentiate: Provide concrete examples of how your approach stands out and drives unique outcomes, i.e., case studies. It was a pleasure connecting with friends and meeting inspiring next-gen GPs shaping the future of venture capital: William Crowder (Aperture® Venture Capital), Joshua Weed (Veteran Ventures Capital), Sonam Velani (Streetlife Ventures), Marcos Gonzalez (VamosVentures), Erica Duignan Minnihan (Reign Ventures), and Jenny Xiao (Leonis Capital). Here’s to collaboration, innovation, and creating lasting impact together.

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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Glean believes that every employee, in every role, in every company, can leverage AI daily to exponentially increase their impact. It’s the key to enabling them to focus on their most meaningful work that will ultimately drive the best outcomes for employees and businesses alike. Our team at Sapphire Ventures is proud to back Glean, the ultimate Work AI platform, on its journey to redefine the future of work with AI. You can read more about the news below👇 👇 👇 👇 #companiesofconsequence #workai #genai

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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Watch this space. There are more amazing things to come from Cohere, a JC Venture Capital portfolio company. I was there when the Internet was just starting out and I tell anyone who will listen that AI is to Gen-Z what the Internet was to Gen-X. #ai #venturecapital #artificialintelligence.

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I am honored to host Nolan Bushnell for a fireside chat at TechCon SoCal 2024 in San Diego on May 24th. We'll discuss how his innovations at Atari laid the groundwork for today's tech landscape and what lessons we can draw for the future. 🌟 Why Nolan Bushnell is a Must-Hear for Every Tech Enthusiast🌟 🕹️ Pioneering the Video Game Industry: Bushnell's creation of Atari and the iconic game Pong marked the beginning of the video game era, democratizing technology through entertainment. By democratizing technology through entertainment, Bushnell made electronics and computing accessible, inspiring a generation and catalyzing the tech ecosystem. 👔 Redefining Startup Culture: Bushnell invented a new breed of Silicon Valley entrepreneurs: visionary, bold, and nonconformist. His management style and the work environment he fostered at Atari—including laid-back elements like beer and ping pong—helped set a template for Silicon Valley's informal and innovative corporate culture, influencing giants like Google and Facebook. 🌱 Innovating Venture Capital: Bushnell became a crucial pivot in VC history by becoming the first example of how new business models over technology advancement become VC "fundable". Sequoia Capital's first seed investment concept in Atari demonstrated the profitability of supporting early-stage consumer tech businesses. It broadened VC horizons to include software and entertainment, impacting how venture capital operates today. 🚀 Driving Silicon Valley's Evolution: The Foundation of Silicon Valley was Arthur Rock funding Fairchild Semiconductor & Intel, establishing the semiconductor industry, and putting the silicon in Silicon Valley. The expansion phase was Don Valentine's investment in Atari, expanding the focus from hardware to software and entertainment, creating the video game industry, and expanding Silicon Valley's tech ecosystem. Bushnell's role enabled the Transformation Phase of Silicon with the 1980 IPOs of Apple and Genentech, showcasing SV's innovation breadth across multiple sectors. 🔗 Enabling Icons: Bushnell provided Steve Jobs, who did not have a college degree, with his first job inspiration for the idea of bringing computers to home users, invaluable introductions and opportunities, and influenced the birth of Apple. 🎮 Inspiring Future Innovators: By integrating fun into computer use, Bushnell likely accelerated technological innovation by making computing appealing to those who might not have otherwise engaged with it. His work at Atari made the daunting world of computers relatable and exciting, inspiring many future founders and technologists. Nolan's influence is evident in the increased computer literacy and the surge in tech-driven career interests among the youth of his time. Connect with over 80 early-stage investors and hundreds of founders from San Diego, the Bay Area, Austin, Denver, and New York. Explore more about the event at https://lnkd.in/gTYMN65n

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I came across this article in the USA TODAY by Betty Lin-Fisher about how Amazon’s ‘Just Walk Out’ technology has come under scrutiny for data collection and inaccuracy. First of all, let me take a step back and shed some light on Machine Learning Models for Anomaly Detection. In today's fast-paced retail landscape, ensuring the integrity of autonomous checkout systems is paramount. In this case, data capturing becomes a necessary step. By harnessing advanced ML algorithms, we can proactively identify irregular patterns or potential anomalies in real-time, safeguarding businesses against theft and enhancing overall security. Exploring this cutting-edge technology opens doors to a future where autonomous checkout tech can seamlessly operate with heightened vigilance, offering not just convenience but also reliability to both businesses and consumers alike. Embracing machine learning for anomaly detection presents a transformative opportunity for autonomous checkout companies. With a keen focus on enhancing security measures, these models empower businesses to detect and mitigate potential threats swiftly and efficiently. As we continue to refine these algorithms, we pave the way for a more secure, trustworthy, and seamless shopping experience, setting new standards of excellence within the retail industry. Let's embark on this journey of innovation, harnessing the power of machine learning to revolutionize autonomous checkout technology for a safer and more secure tomorrow. https://lnkd.in/gXPbYNts

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In early 2022 I was a very pregnant founder and CEO. TMI? Keep reading. It felt natural to move our growing family to a small town on California’s central coast. I believed — and still do — that you don’t need to live in Silicon Valley or Los Angeles or New York City to be a serious venture-backed entrepreneur. And depending on who you are and what you’re working on, maybe you shouldn’t. After Sesh was acquired last year, I came up for air and shifted my attention to the parts of this state — the 5th largest economy in the world! — that are largely off of traditional venture capital’s radar. I believe that investing in startups in under-focused regions is good for families, diverse founders, rising local economies, and for California. I am beyond excited to announce I am partnering with Danny Bernstein to launch HawkTower, a fund dedicated to investing in tech-enabled solutions in overlooked and underleveraged regions like Monterey, Salinas, Fresno, Modesto, Sacramento, Merced, Santa Cruz, San Luis Obispo, and more. Follow along as I spend a lot of time in the car. P.S. My love for digital health has not gone anywhere. I will be investing in the space! #LifeSciences #AgTech #Ocean #HealthTech #VentureCapital

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🌉 San Francisco's Surprising Comeback: From 'Doom Loop' to Renaissance? Recent data suggests that San Francisco, once trapped in a pandemic-induced 'doom loop', is showing strong signs of recovery. Here's what's changing: 📈 Positive Trends: - Population Growth: Net gains over the past two years, with domestic in-migration positive for the first time since 2012. - Housing Market: Median home sale prices up 1.2% YoY to $1,427,500 in June. - Job Growth: The Bay Area added 7,400 jobs between January and June. Downtown Revival: Foot traffic beyond typical work hours has recovered to over 90% of pre-pandemic levels. - Crime Reduction: Property crime down 32% and violent crime down 14% in Q1 2024 compared to Q1 2023. - AI Boom: The city is positioning itself as a hub for the AI revolution. 🚧 Ongoing Challenges: - High office vacancy rates - Homelessness and drug crisis - Lagging tourism and business travel 🔑 Key Initiatives: - "Vacant to Vibrant" program offering free rent to businesses in empty storefronts - Increased police patrols and encampment sweeping - Crackdown on open-air drug dealing 💡 Expert Insight: "The rising AI empire is giving the city a new edge. Funding, talents, and culture related to the AI revolution will help the city turn the corner." - Lu Chen, Senior Economist at Moody's Analytics 🤔 What's Your Take? Are these positive trends sustainable, or is it too early to declare a comeback? How can other cities learn from San Francisco's recovery strategies? What role will AI play in reshaping urban economies, particularly in tech hubs? https://lnkd.in/gCnPCBRU

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We are just at the beginning of the AI led digital transformation! Lots more questions than we answers on adoption, evolution in Enterprise AI but that’s exactly what creates white spaces, opportunities for innovation. Let’s play!

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