Rebecca Liu-Doyle

If you enjoyed our first blog on the metrics that matter for Verticalized SaaS then don't miss on the Part II of the series where my colleagues Devraj Hom Roy and Matt Schaar discuss the strategic and operational choices to improve these operational indicators. https://lnkd.in/g5QkCrcH

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I'm excited to announce that Canapi Ventures has led OpenYield's seed round. OpenYield is redefining how bonds are traded and who gets to trade them. Despite being one of the largest global asset classes, fixed income has long lagged behind equities in terms of innovation. Outdated systems, fragmented liquidity, and barriers to access have made bond trading inefficient, opaque, and inaccessible to many, particularly retail investors.   OpenYield is changing that. By delivering an equity-like trading experience for bonds, the platform transforms the fixed income market into a space defined by transparency, efficiency, and access. With real-time pricing, seamless execution, and intuitive workflows, OpenYield is making bond trading easier and more effective for institutional players, market makers, and retail investors alike. This progress wouldn’t be possible without the exceptional leadership of Jonathan Birnbaum and Hilton Lipschitz, whose decades of experience in capital markets and fintech have earned them the right to build a category leader in this market. Also hard to believe that meeting Jonathan over 20 years ago led to this partnership today!   For Canapi’s network of financial institution LPs, OpenYield represents an exciting opportunity to enhance wealth platforms, attract new client assets, and deepen advisor relationships. As the competition for wealth clients intensifies, access to efficient fixed income trading will be a critical differentiator, delivering real value for customers and strengthening client loyalty. Thrilled to be partnering with Ben Savage and Ned Daoro at Clocktower Ventures. Shoutout to Harrison Kioko. More thoughts on our investment thesis here:

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‼️ ICYMI: High Alpha's Benchmarks report is live! SaaS founders and teams—this is a must-read, filled with actionable benchmarks designed to help you build smarter, measure success, and accelerate growth. From growth rates to cash efficiency, it’s all in there. I cannot stress this enough—pay attention to your NRR. Top-line growth is nice, but delivering outsized value to customers proves how indispensable your product truly is. More below!

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Today, GTMfund’s is excited to announce to launch of Operator, its first incubated company. Max Altschuler (founder of GTMfund) teamed up with co-founder Adam M. (design engineer and 0-1 builder) and co-founder Mark Kosoglow (Outreach employee #1 and former SVP of Global Sales) to create Operator.ai alongside an insanely talented team Pleasant Middelhof, Jeremy Jonas, Carl Gunderson. We've entered a period called “The Great Ignore”. Spam and irrelevant, poorly-automated outbound campaigns are running rampant.   Operator gives you an easy-to-use Growth Engineer that allows you to build and enrich lists with accurate data, and run experiments and queries using AI to generate highly targeted outreach.    Check out their website to get updates, early access, and see how they are taking the world back to 2 touches meant to attract buyers into conversations that convert, instead of 20 touches meant to make sure you hit your activity number: https://www.operator.ai/

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WE DID IT! After 2 years of pushing through the biggest downturn in VC in decades, Matthew Stotts 🌐 and I made it to the finish line with Fund I! We couldn't have done this without One Small Planet (Will Peterffy and Jack Wielebinski 🙏), Regen Network and Regen Foundation (Austin Wade Smith Gregory Landua and Will Szal), and a dozen other family offices and angels who believed that we can build a nature-positive economy utilizing our eye for software and our history as founders from day 1 A shout out goes to all of our founders (only four announced today, but watch this space - there are multitudes!) who trusted us enough to give us a spot on their cap table for this 10-15 year journey. This is the best job in the world, and it's because we get to work with people like you who have weird ideas in the best possible way. Using Bitcoin as anchor base load to decarbonize residential housing in America's most expensive energy market? Make every complex supply chain legible to machines so we can find and eliminate deforestation in commodity supply chains? Build deeply liquid environmental asset markets to price ecosystem services, on a blockchain, that no one needs to know is a blockchain? I'm so excited to get to work on this stuff for the next 10-15 years minimum, and to see what we can accelerate with our tiny fund in the next 5-6 years as we approach 2030 Onward! https://lnkd.in/gy3B-DFe

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Ever since we launched SHAKTI, every quarter we write a letter to our LPs = Each letter includes an update on the portfolios, the GP's (our) view on the zeitgeist, an interview with a portfolio CEO and an interview with a TITAN = So far, we have 16 such letters = it's been on our "to do" list to share these publicly (i am lazy) = then Google comes along to save lazy people like me (thank you NotebookLLM) = here's a 10 min podcast summarizing our journey since Dec/2020 with the 16 LP letters as source = if you wanted to know what we are about, this is a pretty good place to start = https://lnkd.in/db7K2TrT cc SHAKTI

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I am pleased to see Alitheia IDF (AIF) highlighted by Jessica Espinoza, CEO of 2X Global, at the SuperReturn Emerging Markets 2024 event in Amsterdam! Jessica showcased AIF as an example of how Gender Lens Investing (GLI) strategies drive commercial and social impact. Since closing AIF (a 2X Flagship Fund) at $100M in 2021, we have invested over $50 million in 12 companies, with 75% women ownership. As the first and largest GLI fund in Sub-Saharan Africa, we developed the industry’s first comprehensive GLI toolkit, inspiring broader adoption across private equity. Our commitment to putting women as key success drivers across the investment value chain has become a model for the industry, inspiring others. It’s rewarding to see AIF’s impact and approach recognized as a model for sustainable, inclusive investment in emerging markets. Check out the slides from Jessica’s presentation for more insights: https://lnkd.in/dpGiraPU #GLI #ImpactInvesting #SustainableFinance #AlitheiaIDF #SuperReturn2024

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Thrilled to announce the launch of our inaugural edition of Beyond Benchmarks at Emergence Capital. This comprehensive report dives deep into the metrics and trends shaping the early-stage enterprise cloud market. A huge thank you to our VC partners and contributors for making this possible! Here's a sneak peek of our findings: --> 60% of companies have already integrated GenAI into their service offerings, with another 20% planning to do so this year. --> While most companies use OpenAI as their primary LLM, many are experimenting with multiple models. We’re seeing a trend toward intelligently routing GenAI inference requests based on cost, performance, and security. --> Companies that have implemented GenAI are showing promising results, with a 7% higher NDR compared to those that haven’t. Beyond Benchmarks goes further with more GenAI trends, insights on the current fundraising environment, and key performance metrics. Our goal is to provide founders and their teams with valuable benchmarks to help them make better-informed decisions. At Emergence Capital, we're committed to helping founders build iconic companies. Dive into the full report here: https://lnkd.in/g6bnvAZM

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Startup Interview: Turing Labs Inc. - The Fastest Way to Reformulate & Innovate CPG with Manmit Shrimali and Oz Rodriguez How AI is Revolutionizing Product Development From Concept to Consumer Winning Product 10x faster I’ve been wanting to write about this for years and interview the team since I invested in their seed round 4yrs ago (Insight led $16M Series A in 2022). Turing is my first and only YC (W20) investment that has been doing Ai before it was cool - specifically vertical Ai helping to accelerate CPG development in a very analogue industry. Do you have any idea how every products you use on a daily basis are actually developed? Literally scientists in a wet lab with beakers, pippets (remember from high school!?) and centrifuges that takes forever… and very little data or interaction with actual customers. Iteration is the new innovation. We love the idea of analog to digital transformations and Turing is a prime example of this. How do you think your new Tide detergent gets formulated and updated or should I say “new and improved!”? It’s literally scientists in labs, experimenting with chemicals, running experiments and kind of hoping it works out. But those scientists are only trying to improve the current product a few % points but aren’t strategists or marketers who would know what the consumer wants to based on previous iterations. Try teaching “agile” to a bunch of scientists in a research lab that spent countless years perfecting their skills so as not to be rushed. There will be push back, corner-cutting and potential issues in the future by changing the only process they know. But now imagine with Turing, you can take all of their collective knowledge (even if they left the company) during those countless years, combine it with the ability to do formulations/simulations virtually with tailored Ai, not having to wait for lab results AND consumer insight based on how certain chemicals / ingredients combinations sold historically… that’s powerful! We like to joke that with Turing, WD40, would be WD4. https://lnkd.in/e_nu_CcK

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🎃 Ready to carve out your path to Product-Market Fit?🎃 Join Companyon Ventures’ Behind the Curtain roundtable tomorrow (Oct 30) with Michael Ho, Firas Raouf, Eric Morgan, and Hersh Tapadia as they 'exorcise' the mysteries of PMF. Don’t ghost us—RSVP in the comments 👻 https://lnkd.in/emCJcn4w #emergingmanager #venturecapital #productmarketfit

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BIG ANNOUNCEMENT from the #Dirt #King Cliff Fetner. Extremely proud of my father for his continued devotion and dedication to helping aspiring entrepreneurs in the #ConstructionTech ecosystem. I especially agree with his thesis regarding a HUGE gap in the market for #international #ConTech startups seeking GTM advice and networks to successfully launch in the US. Check out Cliff's medium post and tag #founders & #CEOs who you think would benefit from engaging with him. #ConTech #Founders #GTM

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After the first deep dive discussion w/ founders I often hear a comment "I wish I had heard about this alternative [to all-in must-become-a-unicorn] way to build a startup earlier as I have wasted years in pursuing the wrong thing". Our mission is that no founder would ever need to say that again as it is such a waste. Us preaching the gospel 1:1 just doesn't scale, hence we use mass media to multiply our efforts - that's how Gorillacast came to be. The 1st episode is out, featuring yours truly. "How can you know what food you like unless you taste everything" said a chef. How can founders make informed choices about the best strategy for them to follow unless they know of all alternatives? This might not be of interest to you but pls spread the word so that the founders who should hear it can find it. I have a dream!

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Third and last part of my post with some insights from the #fundraising of our latest fund. Some of the tools we used and how we managed to get the finish line successfully!

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A few thoughts from the Ironbird Studio team on how to do right by founders & downstream capital. This one is in the weeds unless you spend a lot of time thinking about venture studio economics, but critical if you're a founder or investor thinking about partnering with a studio. https://lnkd.in/eaej7XtM

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Wendy Xiao, Molly Alter, Aaron Liu, and I recently hosted a dinner with CMIO / CIOs from top NY health systems and execs from startups who are building solutions across the care delivery and back-office billing stack. A few takeaways: - Delivering value-based care at scale changes the incentives for health systems in such a way that they require unique point solutions that can help them triage and manage at-risk patients. - While scribing platforms are certainly powerful in the administrative burden they can take off of doctors, their full value may not be unleashed until they can convert notes into the appropriate fields / codes for billing. - More attention needs to be paid to social determinants of health. For example, certain types of new addiction treatment, like gambling, may soon be covered by insurance if data continues to show that there are serious negative health implications for people affected. Treatments like Ozempic are also showing promise in the field of addiction. In the coming years there will an increasing acknowledgment of how interconnected social factors and medical health are across all patient populations. If you’re a healthcare exec looking to learn more about what the next generation of healthcare IT startups are building, or a healthcare startup looking to get involved, please reach out. cc Northzone

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Insightful breakdown from my great Partner Omri Amirav-Drory on the simple factors that really separate the top 1% of investors from the rest, and how more operators should become investors! https://lnkd.in/gEiZdT2h

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I met Hersh Tapadia and Darrell "Jeremy" Freeman in late 2016 at NC IDEA LABS (formerly Groundwork Labs). We were a bunch of kids working on startups. We thought we had it figured out. You know the rest of that story....we had no clue! But Hersh and Jeremy did have it figured out. Not the specific thing they were working on. They pivoted a few times out of Groundwork Labs. But what they knew how to do as well as any founders was to be curious and listen to their customers. They WERE their customers. They were engineers building for engineers (leaders and teams). They were humble and knew what to ask. They were great at learning. Then they brought on Adam Dahlgren and the founding team felt complete. "Off to the races" means something different to every company. In Allstacks' case, it meant taking the disciplined, thoughtful, thorough approach to growth. And while the team is way more focused on executing for their customers than cheering about a funding announcement, it's also important that they do get their cheers. This is day 1 for these guys. They're building something incredibly big and incredibly impactful. And they're doing it the right way. And as a final side note, when I think of people I want in my corner - to confide in, to learn from, to grow with - I think of Hersh. He's a founder's founder. A CEO's CEO. And one heck of a guy.

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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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Can't wait to reconnect with the brilliant Amanda Herson and join the discussion with Maciek Gnutek and Iain Martin at Slush about our fund models and what they mean for Founders ❄ 🚀

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