Evan Dreyer

🌟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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🌍💡 Embracing Interoperability: The Evolution of Carbon Markets 💡🌍 The landscape of carbon markets is rapidly evolving, with a significant shift towards fungibility and interoperability. What does this mean? We (at the SoHo Global Climate Fund) spoke with leading climate fund manager, Charles Bedford of Carbon Growth Partners, to shed light on this important trend in the carbon markets. It's about creating seamless connections between compliance and voluntary markets, allowing for the exchange and recognition of carbon credits across borders and sectors. This trend marks a pivotal moment in our collective efforts towards combating climate change. By enabling carbon credits to be fungible and interoperable, we're fostering a more efficient and scalable approach to carbon pricing and emissions reduction strategies. Companies and organizations now have greater flexibility to participate in markets that align with their goals. #CarbonMarkets #ClimateAction #Fungibility #Interoperability #Sustainability #Innovation #GlobalImpact

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Data from the International Energy Agency (IEA) illustrates the current "readiness" of #ClimateTechs + their potential impact on carbon reduction. As shown, many techs are at an early stage of being able to have a material impact. Concerningly, some tech funds recently returned capital back to investors recently + closed their funds - citing inability to fund capital intensive techs, found in areas like ClimateTech. This in part may be contributing to the $2 trillion shortfall in ClimateTech, that Deloitte estimates. What this may mean for the future? - The migration of LPs to global, super VC funds within ClimateTech, given the large capital pools needed to fund tech development - Greater specialization from smaller funds, energizing more niche elements of the ClimateTech market - but also altering their / LP's risk profile - A greater role to be played by debt financing in funding growth entities at an earlier stage - impacting cashflow dynamics Will be an interesting space to watch moving forward. We at The Proptech Connection are constantly working with all parts of the Proptech ecosystem. From the leading LPs, funds, techs and adopters in market, providing an independent view. Reach out to us today to find out how we can help. #InvestorTrends #Strategy #Global Ivo van Breukelen Stuart Daun Kiki C. Ethan Ward

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Calpers, the largest public pension plan in the US, is making a substantial commitment to green-related private market investments. This move marks one of the most significant pledges by a major fund to unlisted climate assets. By 2030, Calpers aims to grow its low carbon assets portfolio to $100 billion, with private markets accounting for more than a quarter of the total portfolio. This strategic allocation positions Calpers to emerge as one of the leading global investors in climate solutions. Peter Cashion, Calpers' managing investment director of sustainable investments, emphasizes the focus on generating alpha and outperformance through this fundamental change in the economy. It's encouraging to witness the prominent US pension plan championing green investments, highlighting the potential for alpha and outperformance within the sustainable development technology sector. #Calpers #GreenInvestments #SustainableDevelopment #ClimateSolutions #PrivateMarkets #AlphaGeneration

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Can today's governments serve as Venture Capitalists? California’s first public venture fund, led by Derrick Tang at IBank California and appointed by Governor Newsom, is challenging traditional notions of investment. This fund isn’t just about financial returns—it’s a bold step towards transformative equity in innovation, focusing on climate justice and supporting underrepresented entrepreneurs. Tune into this week’s episode of Swimming with Allocators to hear Tang discuss its dual goals: achieving financial returns while fulfilling social equity objectives. Discover how this innovative approach aims to redefine public sector involvement in the venture capital landscape, blending finance, social justice, and government policy to shape the future of investment. cc: Alexa Binns

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Did you know that you can have multiple RIA firms all representing the same fund? For instance: One firm is the traditional wealth management type who has a pretty decent AUM but very little allocated in alts and funds. Firm 2 is 100% fund management and all in alts. They have the back end and management track record. When you combine the two, now you have a big pool of LP's from RIA 1 and the experience form RIA 2. Win Win Win!!! This is where a lot of emerging mangers get caught up thinking that they have to be the whole package on fund 1. Sure, it's the end game, but why not partner and Co-GP with an experienced firm on the first one and then do what you want on all future funds? To each their own of course!

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🌱🚀 Exciting News! Xefco, one of our portfolio companies, just secured A$10.5 million in funding to revolutionize the textile industry and reduce emissions! 🌎💡 With their innovative water-free textile finishing and dyeing solution, Ausora, Xefco is poised to make a significant impact. Their technology not only preserves precious resources but also cuts energy consumption and costs. Plus, it's already gaining traction with leading apparel brands like Zara and The North Face. At Investible, we're committed to backing visionary companies like Xefco that are driving positive change. This investment reaffirms our belief in their potential to transform industries and tackle pressing environmental challenges. #ClimateTech #SustainableInvesting #ImpactInvesting #MandiriInvestibleGlobalClimateTechFund 🌿📈

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Prime Coalition has long taken a different tack to climate finance compared to its for-profit brethren. It makes the usual venture-style investments in startups through Azolla Ventures and also helps philanthropists direct their money to climate-related projects that it deems high impact. Trellis Climate follows the latter model with a focus on middle stages, where capital has grown scarce. #climatetech #climateVC #climatefinance

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📢 Some big news this week that marks another pivotal step in the evolution of carbon markets… The Biden administration, led by Treasury Secretary Janet Yellen, will be unveiling the first broad US government guidelines on the use of carbon credits as part of decarbonization strategies. It’s a much needed step that will promote high-integrity carbon markets, and boost corporate confidence in using carbon credits. The Bloomberg article's sources suggest the upcoming framework will align with the government’s stance that: “voluntary carbon markets have a role in reaching net zero, as long as they promote high-integrity emissions reductions and channel meaningful amounts of capital into nature-based projects today as well as carbon-removal technologies in the future.” And that is the key. There is no silver bullet for the climate crisis. Whatever the critics may say about carbon credits, more transparency, clarity and official endorsement on their use will serve to unlock billions of much needed corporate dollars for carbon projects. Couple this news with recent initiatives by major tech companies like the Symbiosis Coalition of Google, Meta, Microsoft and Salesforce and we’re starting to stride in the right direction. Read more and sign up for the live stream: https://lnkd.in/ddDRA8yd #carbonmarkets #carboncredits #naturalcapital #climateaction #breakingnews

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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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Amid a substantial contraction in the innovation economy, climate tech has shown notable resilience despite an overall drop in VC funding. While deal activity has stayed robust compared to other sectors, invested capital has decreased by over 50%, primarily due to a decline in deals exceeding $100 million. #climatetech #climateVC #climate

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Fin Capital’s Fintech CEO Pulse Report is out! We surveyed over 50 CEOs and C-suite leaders of private companies from our portfolio and the broader fintech industry during June and July 2024 to get a quick pulse on what’s top of mind for fintech’s leaders. Here are some key takeaways: Optimism in the Air: More than 60% of CEOs reported being bullish or highly bullish on the fintech industry for the second half of 2024. Regulatory Changes on the Horizon: CEOs identified Cryptocurrency, Open Banking, and Buy Now Pay Later as the top three sectors likely to see increased regulation by the end of 2024. CEOs Want Business Development Support: Beyond capital and fundraising, business development support emerged as the top area where CEOs seek investor assistance.For more insights, including comments from my colleagues Ren Riley, Logan Allin, Matthew D. Mann, CFA, and Stephanie Perez, check out the full report here: https://lnkd.in/euHK8-9B

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Expressions of Interest (EOIs) for the Beanstalk AgTech Drought Venture Studio close this Friday July 12th. Since launching the venture studio the team have been engaging with researchers and AgriTech innovators, scouting for technologies that can be validated and commercialised. For those still considering the opportunity, here are a few details: - The Drought Venture Studio is specifically designed to support technology development and commercialisation at the earliest stage, including pre business incorporation. - Technologies can target drought resilience across a broad range of crop types and applications in the field and the back office. Examples include, water and soil management, pest and weed control, financial resilience and supply chain management systems. - Up to $250k in funding will be available for projects once validated, to support development as well as salary funding for co-founders in the early stages. - Need a co-founder? The venture studio will facilitate the process of bringing a co-founder or CEO into validated businesses. This recent webinar provides a great overview of the venture studio, the team and the process. All the EOI details can be found here 👇 - Applications: https://lnkd.in/gyqYB4ww - Webinar video: https://lnkd.in/g8RqXm9n Marcus Agnew, Jeremy Chan-Youker, Cal Archibald #agritech #sustainability #drought #BeanstalkVentureStudio #FutureDroughtFund

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We are excited to back EnFi, Inc in their first round of financing. They just came out of stealth and announced a $7.5 million raise from our good friends at Unusual Ventures, Boston Seed Capital, Argon Ventures and us at Impellent Ventures. Scott Weller spoke with me about his new idea around revolutionizing credit risk analysis through AI, begrudgingly bemoaning getting pulled back into yet another startup :) He and Josh knew there had to be a better way to get risk analyzed fast at the level of the enterprise after the great SVB failing occurred and left thousands of founders scrambling away from their multi-covenant loans. They needed to move their money but couldn't because other financial institutions still relied on a clunky, long process of assessing loan-worthiness. Enter Enfi. I asked him to invest. Scott was another one of those entrepreneurs we'd back no matter what they were doing. It took a while to get him and the indomitable Joshua Summers to make room for us. But they finally relented, because I'm annoying. Very, very annoying. Like a chihuahua with a kazoo, except worse. Ask anyone... EnFi’s platform is revolutionizing credit risk analysis, underwriting and portfolio management through advanced AI and real-time monitoring for complex credit instruments. Their innovative approach to Continual Risk Analysis provides institutional and private lenders with deeper insights and automation, enhancing decision-making and risk management. Congratulations to co-founders Joshua Summers and Scott Weller, and the entire EnFi team. We are proud to be part of your journey and look forward to your continued success! #Fintech #AI #Lending #CreditRiskManagement #Innovation

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Pleased to share that Fin Capital’s Fintech CEO Pulse Report is out! Fin Capital surveyed over 50 CEOs and C-suite leaders of private companies from our portfolio and the broader fintech industry during June and July 2024 to get a quick pulse on what’s top of mind for fintech’s leaders. Here are some key takeaways: - Optimism in the Air: More than 60% of CEOs reported being bullish or highly bullish on the fintech industry for the second half of 2024. - Regulatory Changes on the Horizon: CEOs identified Cryptocurrency, Open Banking, and Buy Now Pay Later as the top three sectors likely to see increased regulation by the end of 2024. - Headwinds persist. Despite overall bullishness on fintech, CEOs report a weak IPO environment and flag that macroeconomic volatility, regulation, and high interest rates remain top challenges for their companies. However, with abating inflation, CEO’s believe we could see rate cuts begin in September, which could positively affect asset values and market buoyancy, including the IPO window. For more insights, including comments from Logan Allin, Christian Ostberg, Matthew D. Mann, CFA, and Stephanie Perez, check out the full report here: https://lnkd.in/gK6usfwM

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"Despite the decline in overall deal value, median deal values increased in the first half of 2024, particularly in pre-seed/seed rounds and early-stage VC deals, indicating strong investor confidence in early-stage carbon & emissions technologies." #carbon #emissions #climatetech #carbonandemissions #venturecapital #vc #investment #funding

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Earlier this year, we surveyed our fellow Los Angeles-based GPs to get a pulse check on the LA venture ecosystem. Here’s what we found: 💗 Deal flow is healthy, and most LA venture investors (68%) are seeing the same or more deal flow YoY. ✈ LA investors are spending time in a variety of markets, with NYC, Austin, and SF following closely on LA’s heels. 🔍 Innovation is concentrated in AI and machine learning, space, and commerce. 💸 Funding is happening, but it’s barbell-shaped, with deals concentrated at the early and late stages. Funding post-Series A has been challenging. 🚩 LA is differentiated, but not without its challenges. Key difficulties include not attracting enough AI talent (despite having the largest number of engineers graduating from our region over any other in the United States); talent relocated to more tax-friendly or less expensive locations; and the great SoCal / NoCal divide 🙏 Thank you to all our many respondents! I’m so glad to be part of a venture ecosystem that includes great minds like Anna Barber, Brent Murri, W. Christine Choi, Sarah Tomolonius, Rob Smith, Win Chevapravatdumrong, John Tabis, Jill Royster, Jesse Draper, Ashley Balla, Britt Danneman, Tram Lai, Carmen Palafox, Elaine Russell, Deborah Benton Amanda Schutzbank, Brian Lee, Petra Griffith, Minnie Ingersoll, Shamin Walsh, Gabe Greenbaum...wow, this list could go on forever...plus too many other exceptional humans to name. You know who you are! Explore our findings more deeply with our survey dashboard: https://bit.ly/3JsaLaB

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Juniper Square recently released their look back at the state of venture in Q2 2024, and the data is interesting. 👉 The liquidity drought continues to stifle fundraising, with $37.4B committed to 255 funds YTD. 👉 In the current climate, established managers are securing 77% of fund value YTD, the highest concentration in the last decade.  👉 Over 63% of capital raised in 2024 so far is in funds of $500M+, the second-highest percentage in the last decade. 👉 Q2 reflects an uptick in US venture deal momentum, with quarterly deal count climbing to the highest level since Q2 2022. 👉 Q2 data shows a third consecutive upward quarter in both exit value and the total number of exits.  👉 Q2 hit a 9-quarter high in total number of exits, and the total exit value recorded was the second-best quarter since Q1 2022. The data shows that the landscape is especially competitive for emerging managers. When it comes to generating returns though, a fresh perspective can help find the most interesting deals. I wrote a bit about this last week, if you’re curious to dig into stats on unicorns at the seed stage, and the funds they’re raising from. You can check out the full report from Juniper Square here: https://lnkd.in/eN6VnY-k #emergingmanagers #stateofvc

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