Zachary White

This is an insightful article from Fortune on fund manager activities in the Miami area. I had forgotten that mega $40 billion+ AUM venture capital fund manager Andreessen Horowitz opened up a Miami office amidst the historic South Florida hype era in 2022. It looks like the office was closed in May 2024 as the space was seldom utilized. This seems to be the case for many of the venture capital (and overall private markets) fund managers who came to Miami in the #hype era. Generally speaking, on the limited days I have been in the Miami area, many people I have reached out to at fund management firms are often traveling or not in the area, so this low occupancy seems to be the case across the board. As much as I love Miami and it's latin vibe and cultural diversity - it is nowhere close to replacing #NYC or the SF Bay Area, but I am encouraged in its increasingly developing role as a place for RIAs/Wealth Managers and family offices that are developing their investment activities in private markets and alternative assets overall. #alternativeassets #miami #southflorida #privatemarkets #fundmanagers #familyoffices #capitalmarkets #a16z #venturecapital #fundmanagers

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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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Today's Boring Biz (# 98): Pirate Ship Party Boat Tour - $4.0M Revenue - $3.5M Cashflow - $2.9M Ask Price - 0.8x Multiple - Baja California (Mexico) Note: We do not represent this deal, highlighting for informational purposes only for viewers What does the company do? 1. Pirate ship party tours 2. Themed entertainment experiences 3. Alcohol + merchandise sales Investment highlights 1. Exclusive liquor license to sell off dock 2. Equipment: 2x large ships + 1x speed boat 3. Seller ran similar business 1990 - 2013, longtime operator Investment risks/concerns 1. Owner dependency risk 2. Vulnerability to Mexico tourism laws 3. Owner health issues/ fire sale #SMB #ETA #finance #Cashflow #investing #search #searchfund #privateequity #microprivateequity #smallbusiness #venturecapital #vc #entrepreneur #business #businessowner #pirate #ship #party #boat #mexico Disclaimer: Hypothetical and illustrative only. Please do your own research (DYOR) or work with tax and legal professionals before making a decision. This video are intended for informational purposes only and does not constitute legal or tax advice, nor should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by SMB PE LLC or any third party.

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"By and large, the industry is still using a fragmented technology stack." Reyes Florez, CEO and Founder of Platform Accounting Group, outlines the state of accounting and tax tech on Tech Scenes Unplugged. #venturebacked #vcbacked #venturecapital #leadership #ceo #founder #operatingsystem #peakOS #foundermode

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Congrats to Mairon Sandoval, Manuel Cangas & Team OCN (onecarnow.com) on the successful $86M round of funding (debt and equity), Co-Led by Great North Ventures! OCN, provides a car subscription (rental) service for gig workers in Mexico that provides the strongest financing coupled with a myriad of other services to benefit the driver and their riders. They raised $86 million in equity and debt to fund growth in Mexico as well expand internationally. The Series A round for the company was led by Brazil’s Caravela Capital, Collide Capital, and Great North Ventures on the equity side. New York-based i80 Group led the debt portion of the raise. The proceeds of the round will be used to grow the company’s tech infrastructure, hire numerous positions including bolstering executive team, and of course to finance quite a few more cars. Great North Ventures invested in the earlier Seed round and has watched the company grow very quickly over the past 12 mos. See link for more details about OCN and this round including a link to the coverage from Bloomberg. Nate Pierotti Nick Moran J.R. Moran Brian Hollins Edward Goldstein Rodrigo Basil Andersen Brunna Zogbi Ivan Montoya https://lnkd.in/gg28Cssg

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What's the latest in #MiamiTech? We've got the low-down from an investor's perspective. Founders: take note! Many thanks to Alpaca VC's David Goldberg, and to Lorraine Sanders and Nancy Dahlberg Refresh Miami for making it happen. https://lnkd.in/daXmV6Zf #investing #VC #fundraising

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Miami F1 did not disappoint, with all sorts of legendary entertainers, investors, and even scientists descending on Miami to see who could throw the best party of the week. I was fortunate to receive an invite to a party on the legendary 180-foot Gene Chaser, the support vessel for the floating laboratory, Gene Machine, which carries all the toys. The owner, best known for his contributions to next-generation DNA sequencing, was a fascinating person to meet and get to know. This yacht was the fastest in the marina, equipped with four Caterpillar engines reaching a top speed of 22 knots. It was also the most traveled last year, visiting places like Antarctica and Singapore. Fun Fact: This boat isn’t allowed in St. Barts because the intense heat from its exhaust could melt other yachts. My favorite part was trying out all the hardware, especially the first-ever portable brain MRI that will soon be going into space. This was probably my favorite event of the entire weekend. https://lnkd.in/eRF6Z7RN For specs on the boat, click on the link here: https://lnkd.in/eP7bnYtr #MiamiF1Experience #GeneChaserYacht  #NextGenSequencing #PrivateInvestmentLuxury #FamilyOfficeEvents #SuperyachtScience  #InnovativeInvestors  #LuxuryAtSea  #TechOnDeck #AdventureYachting

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Today, we're proud to announce the launch of Flywheel Capital, a new ‘hybrid’ secondaries fund pioneering next generation liquidity for growth-stage #founders, companies and VCs — without the discounts, friction or missed upside. By adapting innovations from the private-equity #secondaries market and re-modelling them for founders and VCs, we're re-designing liquidity #VC and #Growth — improving outcomes for liquidity seekers and bringing a new kind of capital partner to the #VCSecondary market. As we do so, we’re excited and grateful to be anchored by leading fund of funds, Allocator One. We believe that greater liquidity will transform #venture in the same way it has private equity. Despite the immense need among founders, companies and VCs — who need liquidity for everything from managing portfolios and distributions, to buying homes to paying taxes (all eyes on the UK #budget..!) — today creating liquidity is high friction and low satisfaction. From discounted price optics, wide valuation spreads, and opportunity cost gating sales, to high risk and uncertainty dissuading broader investment — these issues restrict the market’s full potential. Through our bespoke hybrid secondary structure, we provide a win-win-win solution — for founders, shareholders and funds seeking fair liquidity, for capital on the sideline seeking risk-managed investment, and for a market that’s ready to get moving. We're on a mission to unlock a new era of liquidity in venture — creating a flywheel effect of more investment, innovation and growth, and our team (Gavin Cunningham Ioannis Gryparis Darren Westlake Komal Sethi) is just getting started. Read more about us in Sifted below, and if you'd like to get in-touch, reach out at [email protected].

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Summary: Andreessen Horowitz (a16z) has closed its satellite office in Miami Beach, just two years into a five-year lease. This decision comes as Miami's venture investments have dwindled and a16z's plans for global outposts did not go as expected. Key takeaways: A16z's closure of its Miami Beach office is a blow to its plans of expanding to global outposts and builds relationships with founders. Miami's venture investments have decreased significantly and the area has struggled to retain entrepreneurial talent. This decision by A16z highlights the challenges startups and investors face when trying to expand to new locations. Counter arguments: Miami's struggles with retaining talent and venture investments may not be the sole reason for A16z's closure. There could have been other factors at play. A16z's plans for global outposts may still be successful in other cities despite the closure in Miami Beach. #venturecapital #vc #venture

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VC world can be cruel and unforgiving. With LPs more and more pushing for distribution and liquidity, fund managers in the mid-tenure of their fund with zero DPI and TVPI around 1.0 would have much more difficulty to raise new fund. The ability to fundraise is one of the crucial indications and validation of the job for VCs. Key highlights from the article below: Thirteen percent of venture General Partners (GPs) no longer plan to raise another fund due to LP pullback. This rate has doubled since H1 2023 when only 6% of GPs had no plans for another fund. Nearly 44% of venture firms surveyed in mid-2023 had previously postponed their fundraising plans due to concerns about overexposure to the asset class. Many emerging managers entered venture capital in 2019 or 2020 when the LP market supported more funds. However, slow exits in the first half of 2024 have led to challenges in raising second funds without significant cash distributions to LPs. Some venture GPs are now actively participating in the secondaries market to demonstrate returns. Despite the challenges, GPs who secured fresh capital remain optimistic. They expect the 2023 and 2024 vintages to be the strongest return years since 2019. 🚀📈 #VC #VentureCapital #Fundraising #LPs #EmergingManagers #TechInvestment #MarketTrends #CountdownCapital #IndustryInsights #JetVentures #JetInvestment‍‍‍‍‍‍

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Congratulations to Pedro Siciliano, Fábio Baldissera, and the entire team at Teachy for raising a $7m Series A from some of the best in the business. When we first met Pedro in early 2023, he was a first-year student at the Stanford University Graduate School of Business with a full course load and a crystal clear vision for the company he had started to build. After a few interactions, it was clear that Pedro was the epitome of a mission-driven founder. He had a strong sense of purpose, a deep commitment to the problem he wanted to solve, and extreme focus. Being authentically mission-driven gives you superpowers that are key to building a large business. Here are a few: 👉 *Authentic leadership*: Having high conviction in your mission allows you to lead from the gut with persuasion and strength. 👉 *Boundless energy & resilience*: Understanding why you are building your business gives you the energy and grit to fight through the hard times. 👉 *Culture building*: Culture flows from the top, and nothing beats caring deeply and setting high standards for the work you, your employees, and your company produce daily. 👉 *Customer centricity*: Being mission-driven, by definition, means putting your customers and users first, the key to every successful business. Pedro and Fabio have these superpowers, and I can't wait to see how they continue to put them to work on their mission to improve education around the world. 

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Los Angeles is buzzing with venture capital activity, ready to back the boldest entrepreneurs across industries like tech, fintech, and biotech. If you're aiming to elevate your startup in LA, here's where you might find your perfect investor match. Leading LA Venture Capital Firms: ✅ Mucker Capital - Big on software startups, investing in companies like AuditBoard and Honey. 🚀 ✅ Upfront Ventures - Specializes in ecommerce and healthcare, with investments in GOAT Group and Parachute Home. 🏪 ✅ Baroda Ventures - Eyes on consumer internet and SaaS markets, backing firms like Amplify. 💡 ✅ ScOp Venture Capital - Focus on SaaS, helping companies scale with investments in Cloverleaf. 🌐 ✅ Crosscut Ventures - Largest seed-stage VC in LA, invested in Boosted and Inspire. 🌱 ✅ Anthem Venture Partners - Biotech and fintech enthusiasts, with investments in TrueCar. 🔬💳 ✅ Arena Ventures - Backing consumer and fintech disruptors like CityMall and Aaptiv. 🚀 ✅ Canyon Creek Capital - Supports technology firms showing market traction like HoneyBook. 💻 ✅ Frontier Venture Capital - Investing in media and tech that enhance global well-being, like Syndio. 🌍 ✅ Karlin Ventures - Funds innovative solutions in software and ecommerce like StrikeAd and Wallaby. 🛒 🔗 Discover the full list here: https://lnkd.in/dtxqpiRy Explore opportunities, connect with industry leaders, and start your journey in LA’s thriving startup ecosystem today! 🚀 #VentureCapital #Startups #LosAngeles #Innovation #Entrepreneurship

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Last month, Uncork Capital celebrated its 20th anniversary with a jubilant gathering attended by 420 guests, marking two decades of success in the venture capital realm. Over the years, the firm, alongside industry peers like First Round Capital and Felicis, has witnessed remarkable growth, now managing billions of dollars in assets. This expansion reflects the flourishing landscape of venture capital, with the industry experiencing exponential growth in investment. Moreover, positive shifts in VC norms, such as the evolving attitudes towards board seats, underscore a commitment to providing tailored support to startups, enhancing their growth prospects. Amidst discussions surrounding sectors like AI, optimism prevails, emphasizing a steadfast dedication to investing in innovative ventures with lasting impact. Read More Here: https://lnkd.in/efN6-Spd Branded Hospitality Ventures Jeff Clavier Susan Liu Ashley Cravens Tripp Jones Sarah Du Andy McLoughlin Amy Saper #innovation #technology #management #venturecapital #startup

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"Small funds may have more incentive to produce higher returns The alignment of incentives between GP and LP varies drastically based on fund size. Managers of smaller funds who have invested substantial personal capital demonstrate an unwavering commitment to lucrative returns, while managers at the helm of colossal funds, buoyed by significant management fees, may exhibit a diminishing drive. This constitutes an almost incontrovertible structural benefit of managing a small VC fund. Furthermore, fund managers of established funds may, over time, raise larger subsequent funds and grow more risk averse. This can present a sub-optimal outcome for their LPs and, by virtue, manifests a bad omen for VC investing." https://lnkd.in/gHKgea4e

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On Wednesday, equities rose as utilities and financials outperformed, while communication services and consumer staples lagged. Gold reached a new ATH as the Mexican peso weakened following Trump's comments about re-shoring car production. BTC is edging towards 68K as the presidential race appears to be heading in a pro-crypto direction, while ETH is still stuck at 2.6K. #crypto #cryptocurrency #bitcoin #exchange #assets #investing #cryptonews #market #trading #blockchain #ethereum #token #analytics #Markets #Finance #Economy #Business #Evernomics #Svetrating Full text: https://lnkd.in/gtns8gsz

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New York-based venture capital fund manager Thrive Capital has distinctly established itself as a leading global investor in venture capital and in the cream of the crop. This multi-fundraise process was just a process - the global interest across asset allocators was tremendous. The firm has accomplished tremendous feats since its founding 15 years ago. If you want to be around winners - follow this manager. This fund manager sees so many high-potential companies and founders across stages and sectors - investing in OpenAI, Instagram, GitHub, Spotify, SKIMS and many others. Thrive Capital’s newest fundraising will be split between a $1 billion early-stage venture fund and a $4 billion fund dedicated to later-stage investments. Who said New York City, the world's capital for capital markets, couldn't be a venture capital hub too? Congratulations Thrive Capital! #alternativeassets #fundraising #privatemarkets #venturecapital #newyorkcity #fundmanagers #earlystage #capitalmarkets #limitedpartners #openai #nyc

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Costanoa Ventures Closes Oversubscribed Early-Stage Fund Costanoa Ventures has closed two new oversubscribed funds, Costanoa Fund V at $275 million and Opportunity Fund III at $119 million, bringing its total assets under management to over $2 billion. The firm’s focus remains on early-stage Seed and Series A startups, specifically those in AI-enabled B2B tech across sectors like #SaaS, cybersecurity, national security, and #fintech. Founder Greg Sands highlighted the firm’s commitment to partnering with founders tackling large-scale challenges, especially as recent advancements in AI have opened substantial opportunities for innovation. Costanoa has intensified its focus on cybersecurity and defense tech, with John Cowgill, now a General Partner, leading initiatives in both sectors. Cowgill’s investments include high-impact firms such as AppOmni, Cyberhaven, Muon Space, and Kepler Communications Inc. Costanoa’s defense tech portfolio includes standout companies like Vannevar Labs, an innovator in defense industry technology incubated in Costanoa’s Palo Alto office, which has praised the firm for its deep engagement and supportive partnership. By prioritizing a concentrated portfolio, Costanoa provides founders with customized, hands-on support through its BuilderOps Team, which assists in areas like market strategy, company building, and talent recruitment. 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 to [email protected] #VentureCapital #EarlyStageFunding #AI #Cybersecurity #DefenseTech #CostanoaVentures #TechStartups #FounderSupport

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