Justis Mendez

Summary: Keith Rabois, managing director of Khosla Ventures, is on a mission to turn Miami into the next Silicon Valley and has been actively promoting the city as a tech hub. Despite some challenges and opposition, Rabois remains optimistic about Miami's potential and the growth of its tech ecosystem. Key takeaways: Keith Rabois is determined to make Miami the next Silicon Valley and has seen progress with a growing number of seed investments in the city. Khosla Ventures, where Rabois works, has made multiple investments in Miami, including one into a startup aiming to "reinvent education." Rabois continues to split his time between Miami and San Francisco, but believes that Miami offers a better quality of life and potential for building a thriving tech community. Counter arguments: Some big name investors, such as Andreessen Horowitz, have pulled out of Miami, suggesting that the city does not offer the same opportunities as other established tech hubs. Miami still has a relatively small share of total U.S. seed investments (2.6%-3.5%) which may indicate a lack of resources and opportunities compared to other cities. #venturecapital

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Great analysis of recent #vc trends. Thank you Kaela Roeder and Technical.ly for including my thoughts in the piece. My "expanded" two cents below for anyone curious... It is easy to get excited by what is happening in venture capital these days given the advent of AI. However, for early-stage startups, the numbers tell a more nuanced story. Early-stage deal volume in Q4-2023 was down 66% from the peak (Q4-2021) and a quarter of the deals were down rounds. In 2024, volumes stayed fairly flat relative to 2023 levels (signalizing a normalization to pre-pandemic VC activity) and 32% of deals were down rounds in Q1 (a worsening since year end). Early-stage valuations have spiked back up this year – a pleasant boon for some founders. But, this inflation is largely driven by the excitement around AI and strong demand for capital-efficient, high-growth companies. Many startups have tried to become “dot AI” businesses overnight; however, such tactics are not the “silver bullet” to fundraising challenges and growth. With limited time and capital, funds are on the hunt for companies with bulletproof fundamentals or those with exponential growth potential. If you don’t check one of these two boxes, the VC world looks fundamentally different for you. Locally, there are some positive tailwinds. The D.C. area has outpaced other metro areas in adding AI jobs due in large part to the defense industry and an increasing number of tech companies opening-up federal outposts. Over the long-term, this will be very positive for D.C. startup growth and talent.

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How Focus Drives Early Startup Success Listen to Alon Cinamon, VC at Ibex Investors:

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Great time on the Embracing Erosion podcast w/Devon O'Rourke! We talked about: 🚀 How to scale a company from concept to 9-figure exit 🔄 How to break away from the traditional consulting model and apply product approaches ⏩ Why it’s important to iterate quickly and often with messaging 💸📈What signals are important to pay attention to when investing in startups and much more!

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Create Health Ventures Launches Inaugural $21M Fund for Early-Stage Digital Health Startups  Create Health Ventures, a venture capital firm focused on early-stage digital health companies, has closed its debut fund, raising $21 million, surpassing its initial target. Launched in 2024, Create Health Ventures is based in Austin, TX, and Chicago, IL. The firm focuses on technologies that enhance healthcare access, improve patient experiences, and deliver value across payers, providers, and pharmaceutical companies. *Its primary focus includes:   1. Payer-Facing Technologies: Solutions that improve member experiences, enable seamless data and workflow integration, and scale technology across geographies.   2. Clinical Trial Enablement: Tools to help pharmaceutical companies recruit and retain participants for late-stage clinical trials as demand increases. *Founders and Approach:   Create Health Ventures was co-founded by Emma Cartmell and Amit Aysola, healthcare veterans with over 45 years of combined experience. They bring operational expertise, regulatory insight, and an extensive network to portfolio companies. The firm exclusively invests in startups led by healthcare industry founders, leveraging its unique value-added platform for scaling businesses.  *The platform includes: - Business development support   - Access to executive coaches   - Connections to healthcare leaders   - Cross-selling opportunities among portfolio companies  *Key Quotes by GPs:  - Emma Cartmell: “Founders from the healthcare industry understand the challenges and opportunities to improve patient outcomes. Supporting them is the most impactful way we can positively transform healthcare.”   - Amit Aysola: “Payers and pharmaceutical companies are driving demand for connected, scalable solutions, and we are investing in companies to meet these needs.”  *Investments and Impact:  The firm has made five investments so far and partners with foundations, impact investors, and strategic healthcare veterans to mentor portfolio companies.  *Portfolio CEO Feedback:   - Dr. Chip Grant (Watershed Health): “Create Health Ventures has been invaluable in scaling operations and fundraising.”   - Shara Cohen (Carallel): “They are the most collaborative and active investor team I’ve worked with.”   - Neil Batlivala (Pair Team): “They’ve helped us manage growth and reach underserved communities.” If you are experiencing difficulties in raising fresh capital and would require warm introductions to new LPs, contact G+QUANT     ▶ Please use G+QUANT's link for inquiries and fund decks, or send your inquiry directly to [email protected] #VentureCapital #DigitalHealth #HealthcareInnovation #Startups #ClinicalTrials #PatientCare #HealthTech #HealthEquity #CreateHealthVentures

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🚀 The latest cheat sheet for hacking your Techstars Miami application for fall 2024 just dropped! In the comments, I put the link to Google Docs that you can duplicate and share with your co-founders and mentors before you submit it on May 22! #techstars #givefirst #miamitechmonth #miamitech

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. . . and REFASHIOND Ventures: The Industrial Transformation Fund. #PersonalMantra: Work; Till your idols become your rivals. By my rough estimates, the next smallest fund featured among the judges at TechCrunch Disrupt 2024 has at least 100x the amount of capital we do. And yet, here we are. Our Investment Thesis: REFASHIOND Ventures: The Industrial Transformation Fund invests in early stage startups refashioning legacy industries through Data & AI, Advanced Materials, Advanced Manufacturing, & Next Generation Supply Chains; Defensible through economic moats. Join us. It’s Day 0. #IndustrialTransformation #SupplyChain #Innovation #Technology #Startups #VentureCapital #DISRUPT2024 #TechCrunchDISRUPT Ps: As my mathematics and statistics teacher, Mr. F.K. Lagbo taught us at the Presbyterian Boys' Secondary School (PRESEC); “To appear at the top of the list you must first be on the list. So first be on the list. There will be plenty time to work your way to the top of the list.”

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A lot of investors have been asking me what the major industries are in the Venture Miami Built in Miami Startup Program. Here's the industry breakdown across 214 new South Florida startups. TLDR: The South Florida startups are pretty diverse across industries. Here's the largest categories in order: - 16.2% AI & Machine Learning - 14.2% EdTech - 12.2% Healthcare - 8.5% Marketing & Sales Tech - 8.1% FinTech - 7.4% Sustainability - 6.1% Travel & Hospitality - 6.1% E-Commerce The smallest category: Cybersecurity at 1.2% There's an additional 50 startups that didn't complete the survey in time but we'll get that info updated by Demo Day June 20th. #BuiltinMiami

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Thousands of applications and hundreds of interviews later, we have selected a spectacular class of 12 startups for the Techstars Miami program. Our companies are in Biotech, Aviation, Defense, Climate, Compliance, Healthcare, Logistics, E-Commerce, and more. BioReact : Bioprocess Meets Ai: AI-driven biotech analytics software for R&D scientists. Cai Creative: AI-driven composing environment that simplifies music production for non-technical musicians. It overcomes the complexity of DAWs and empowers users to create and edit music effortlessly. Cosito Inc.: Physical world insights for businesses, powered by AI sensors. Fivvy: Real-time insights into customer behavior and market trends by analyzing user device metadata, enabling businesses to optimize marketing and accelerate growth. Climatta: Simplified ESG compliance for businesses with an easy-to-use platform. Galilei Learning (Techstars 24') Learning: Boost your frontline training with gamified learning and real-life application. HyperVention: AI platform that personalizes drug schedules for hypertensive patients. Kindlee: Debiasing tools for high-risk AI/ML use cases, making inclusion profitable and ensuring fairness while complying with AI regulations. Konvas AI (Techstars '24): AI agents that automate marketing and boost sales for e-commerce brands. Roger: Real-time flight advice for pilots to enhance safety and efficiency. VendorConnect: Automated document processing for logistics operators, solving slow, costly, and error-prone manual data entry to help small and mid-sized companies scale efficiently. Stealth Company Stealth company in the AI and defense space. #givefirst #techstars Techstars

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Another HUGE opportunity to meet a new set of #investors https://lnkd.in/esJYQW4J I hope you are reading Hypepotamus to find what is happening in the South's innovation ecosystem

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Wing Venture Capital is excited to unveil today the "Angels' Share 100", an exclusive list of the most active angel investors in the most promising startups in B2B technology. This project's mission is to serve as an information and relationship platform for the founder and angel community. Building a successful B2B technology company is hard work, and as early-stage investors and long-term company builders ourselves, we know we need all the help we can get! An important source of help has been the individual investors we work with. Individuals investing alongside us have consistently made powerful contributions to ultimate success. So we set out to study these “angels” in our midst. Who are they? Where did they come from? What allows them to make a difference? https://lnkd.in/gfFs4-bu

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Ex-Two Sigma Ventures Partner Launches Category Ventures Villi Iltchev, previously a partner at Two Sigma Ventures created in 2012 as a division of New York hedge fund Two Sigma Investments, and August Capital, has founded Category Ventures, a new San Francisco-based firm currently seeking to raise $156 million for its first VC fund. The firm plans to focus on early-stage investments in infrastructure software, a segment that includes tools for software management, security, and development. Category Ventures enters a challenging fundraising environment - just 77 new funds have raised capital in the U.S. this year, down from an annual total of 215 last year, indicating 2024 may set a record low for debut fund investments, per PitchBook-NVCA data. Even worse - 2024 is on track to be the worst in at least a decade in terms of money flowing to debut funds.  Iltchev’s extensive background may help attract limited partners (LPs), who in the current market favor first-time funds launched by seasoned venture capitalists. Iltchev’s track record includes key investments in notable companies like GitLab, Remote, and Box, experiences that bolster his credentials with LPs. Category’s focus on infrastructure software aligns with a broader shift toward supporting tools that facilitate secure, scalable tech development. ✅ Looking to raise capital for your #VCfund and increase the international pool of your LPs?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ Please use G+QUANT's link for inquiries and fund decks, or send an inquiry to [email protected] #VentureCapital #CategoryVentures #EarlyStageInvesting #InfrastructureSoftware #TechStartups #GitLab #TwoSigma #VentureFunding

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Steel Atlas Ventures Aims to Link Western Startups with Saudi Investment in $10M Debut Fund Steel Atlas, a New York-based venture firm founded by Cameron Porter and Talal Attieh, has raised its first $10 million fund to connect Western technology startups with Saudi Arabian investment opportunities. The firm, established last year, plans to invest between $750,000 and $1.25 million per startup, focusing on climate-tech, industrial, and AI sectors. Steel Atlas’s portfolio currently includes innovative firms like nuclear energy company TRANSMUTEX, supply chain tech provider GenLogs, and alternative battery tech company Group1.ai, all aiming to align with Saudi Arabia’s Vision 2030 economic diversification program. “Our portfolio investments are less than a year old and we are therefore still actively working with them in the region,” the firm said. “We view this alignment as being driven by two increasingly important factors: global geopolitical realignment and mutual technological interests,” Porter stated, referring to Saudi Arabia’s role as a “counterpoint” to Iran. Backers of the fund include private investment firms such as Christian Angermayer’s Apeiron Investment Group and Magnus Rausing’s Untitled. The Saudi government’s commitment to advancing industrial, climate, and AI technologies aligns with Steel Atlas’s goals, with Saudi funding providing potential capital reliability and scale-up locations for Western startups amid a sluggish U.S. market. Steel Atlas is also planning a Middle Eastern holding company to invest in regional industrial projects tied to its portfolio technologies. While not mandating Saudi deployment, the firm foresees Saudi Arabia’s market as a significant opportunity, anticipating developments in nuclear and supply chain tech soon. ✅ Looking to raise capital for your #VCfund and increase the international pool of your LPs?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ Please use G+QUANT's link for inquiries and fund decks, or send an inquiry to [email protected] #VentureCapital #SaudiInvestment #ClimateTech #AI #IndustrialInnovation #Vision2030 #SteelAtlas #TechFunding

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If you're building a fintech startup, you likely know of this investor, but just in case... This week's findfunding.vc spotlight is on Neil Kapur from TTV Capital. He: 🛫 Is based in SF & Atlanta 💲 Has spent time at Google in consumer-facing payments & at two fintech startups  🏔️ Loves alpine mountaineering and has climbed Kilimanjaro, Denali, Rainier, and more!! Amongst founders, Neil and the team at TTV Capital , including Gardiner Garrard, Mark Johnson, Sean Banks, Lizzie Guynn, and Laney Lewis are known for saying “lift, not lean.” They believe that their job as investors is not to create work for founders, but instead ask the right questions and help navigate to the best outcomes. Knowing Neil well personally, he's not only my go-to person for anything related to fintech but I can also highly recommend having him on your cap table - he's the kind of human you want to have in your corner during both good times and bad. Make sure to: ✉️ Pitch him at [email protected] ➡️ Follow TTV Capital on LinkedIn For more, check out our funder spotlight card below along with TTV Capital's profile on findfunding.vc (link in comments).

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HUGE opportunity

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What is cap table debt & how does it hurt startup founders? Cap tables need to reflect all current and potential shareholders (which includes investors who signed a SAFE or convertible note). Because of the complexity of vesting schedules, repurchase rights, options vs. shares, the variable nature of ownership calculations with convertible instruments, etc., the simple spreadsheets used by most founders are woefully inadequate. We dive deep into the topic of cap table debt and show why founders need to stop using spreadsheets to track your startup cap table in our webinar on "Best Practices with Founder Equity and Cap Tables". You can watch a replay of this webinar here: https://lnkd.in/giHWZkWS

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Wing Venture Capital's Founder Docs project is a unique collection of startup wisdom, by founders, for founders. The authors of the docs are talented founders themselves, sharing their experience on the topics they are most passionate about. I'd like to highlight the contributions of Edo Liberty, founder / CEO of Pinecone. Edo writes about the special opportunities for the scientist / founder (and he is one of the best of this breed!), as well as some of the risks and challenges they face. I got a lot out of reading Edo's stuff and I suspect you will too! https://lnkd.in/g_wyRMiE

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I really enjoyed recording this episode of The Digital Industrial Podcast with Ty Findley. We talked about common misconceptions for deep tech, the "Why Now" for the category, and differences between investor diligence for deep tech and traditional tech. https://lnkd.in/eKtwjauu

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👋DC Startup & Tech Week (Formerly DC Startup Week)'s VC Math Workshop was such a 🔥hit🔥, Virginia Venture Partners and VIPC | Virginia Innovation Partnership Corporation decided to do it again! But this time, it's virtual, so I expect to see EVEN MORE folks. Don't miss out on VC Math 2.0 this Friday, November 1st, at 9am with Jennifer O'Daniel, Steve Ryan, CFA, and yours truly 😊. Once again, we'll be talking about a lot: - founder dilution - how to set up a friends and family round - why VCs invest - how VCs set valuation - what is an industry multiple - why market size & opportunity matters Be sure to register here: https://lnkd.in/eVE9cykk and I'll see you there! 🫡 #virginiainvests #entrepreneurs #startups #VC #founders

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