Martina Welkhoff

Today marks a groundbreaking moment for BLCK VC and our fellow collaborators—Diversity VC, All Raise, 2Gether-International, SomosVC, StartOut, and VetsinTech—as we proudly announce the launch of the Diversity Data Alliance. This important alliance underscores our unwavering commitment to nurturing a venture capital and entrepreneurial ecosystem abundant in equity and inclusiveness. By standardizing and linking our data, we empower ourselves with the essential tools to track deeper trends that have, until now, eluded us to identify and fill funding gaps for historically excluded investors, founders, and operators. We can’t change what we do not measure, and now with the Diversity Data Alliance, we're now equipped to do both. Join us in this mission. Learn more and get involved: https://lnkd.in/eEZKdrac #DiversityDataAlliance #BLCKVC #VentureCapital #MeasureToChange

112

1 Comment

At last week’s ClimateTech Coffee 🚲 Bryan White and I were joined by Kimberly Gilbert, PhD to hear about her work on Carbon Neutralization and Ocean Storage (CNOS) through her company pHathom. Here’s a recap: The ocean naturally absorbs CO2 over time, but we’ve added so much that the ocean has become increasingly acidic. Ocean pH has dropped from 8.2 to 8.1 globally over the last hundred years, and as pH drops it becomes harder for coral-based organisms to form shells. To combat this, Ocean Alkalinity Enhancement (OAE) is an intervention that both reverses ocean acidification and removes CO2 from the atmosphere. Challenges with traditional OAE: - When you add the alkalinity into the ocean, it spreads out. It’s hard to measure the change in pH. - You don’t know exactly when the extra CO2 will be absorbed. Modeling and measurement companies are trying to help with this problem. Advantages of CNOS: - Co2 is captured directly at a coastal power plant or refinery, and then the concentrated Co2 is pumped into water that has limestone (and/or other alkaline materials) in it.  - This means the Co2 is dissolved onsite and the pH can be equilibrated onsite, which makes accurate measurement more feasible. Factors that affect progress:  - We’ll start seeing more companies enter in this space as the chemistry and its impacts are better understood and seen as safe  - Local and national permitting are a huge bottleneck - On the international permitting level, the London Protocol has a blanket ban on ocean geoengineering for anything except for research. There were good reasons for doing that, but it’s unclear who decides when that can change and the circumstances under which the ban is lifted. (Note: pHathom is not doing geoengineering; it’s doing water treatment on-site and releasing it back as ocean water) Open questions for the category/technology: - Can they come up with enough low-cost alkalinity sources, and get them in a way that doesn’t cause additional environmental damage or Co2 emissions?  - This approach will require pumping a lot of water. How much will that cost and how can the cost be driven down?  - Putting 100 plants’ worth of bicarbonate into the ocean is likely fine for ocean health relative to the climate benefit, but what is the point where the tradeoffs cross over? Some groups doing good work in this space:  [C]Worthy Carbon to Sea Initiative  University Research: UC Santa Barbara, University of Tasmania, GEOMAR, Dalhousie University, Scripps Join us for the next one in May! Details coming soon, and you can get updates by subscribing to the series page here: https://lnkd.in/g7DTGm2V

19

Fundraising decks are important but only within the context of a well-orchestrated fundraising process. A deck itself is unlikely to directly lead to a term sheet. Rather, it is important to understand how you want to use the deck (or any collateral for that matter) as part of your fundraise process. For example: - Is it to secure the first meeting with a VC? A teaser deck is important. But so is the email snippet and warm referral! - Is it part of a deeper-dive session about your business? Excellent. Is it a deeper dive on product or GTM? And, is the next step a track to a partnership meeting? - Is it a diligence deck? Excellent. Is it more about showcasing the financial plan and key levers? ... what is the ONE thing you want this deck to help you achieve? More tips on fundraising your early-stage round here: https://lnkd.in/gvWYaCwk #startups #venture #fundraising

6

Want a front-row seat to the frontier of tech? We’ve got the role (or two) for you! We’re expanding our frontier-tech team at Blackbird by hiring a Frontier Tech Investments Associate and Foundry Fellows! Got questions? We've got answers... 1️⃣ What are the roles? 🧪 Associate = a full-time VC investment gig in our Blackbird Investments team, working directly with me. We’re looking for someone with a science and/or engineering background and more curiosity than they can handle. You’ll grow your own investment brand and practice, support our portfolio founders, and will help build Foundry, our early-stage frontier-tech accelerator. ✨ Foundry Fellow = a casual/contract gig in our Blackbird Investments team, ~15h per week for 3 months. The Fellowship is ideal for PhD students and ECRs who want to learn more about startups and VC. You’ll go deep on emerging areas relevant to your expertise (or curiosity!), get a front-row seat to groundbreaking companies in those areas, build out your non-academic network, and develop a solid writing practice. 2️⃣ Why are you hiring? We love frontier tech, and we’re ready to grow our team. 3️⃣ Wow, it’s so great that you’re starting to look at deep tech! Look, we get it: we don’t make a lot of noise about our frontier tech investing. Buuuut we’ve been deep-tech investors since we backed Tim Kentley-Klay to found Zoox back in 2014—we’ve been on incredible journeys with PsiQuantum (building the world's first utility-scale quantum computer right here in Australia!), Inventia Life Science (transforming drug discovery with high-fidelity cell models), Remedy Robotics (surgical robots for remote endovascular procedures), Opto Biosystems (minimally-invasive neural implants to treat cancer), and more. We believe that frontier technologies, and great frontier-tech investing, will be part of the solutions to the greatest problems humanity faces today. 4️⃣ When do applications close? May 31st at 11:59pm AEST. 5️⃣ I have more questions! I’m sure you do! Clare Birch and I are hosting an AMA to answer any and all questions about these roles. Want to know what a week in the life of our team looks like? What’s keeping us up at night? What our ideal candidate looks like? Come along and find out - registration link in the comments 👇 Apply for these roles: Associate - https://lnkd.in/gCfj4EUJ Foundry Fellowships - https://lnkd.in/gj6ATZVZ If you know anyone that we should meet, send me their details! Cameron Elise Ben Andrew Robin Joseph Adelaide James Olivia Lucinda Raghav Jesse Christie Mohamed Tom Amee Pablo Haya Loong Hon Joshua Benjamin Megan Harry Denzil Matthew Diana Daniel Tom Deanna Justin Amar Lilly Stone Thomas

114

4 Comments

I’m excited to publicly share something that has been in the works for a few months at the 9point8 Collective. We’ve launched our Virtual Studio! This is a program for early-stage companies that provides the coaching, development and venture-building tools they need to find traction and scale. The program is modeled off of the venture-building processes found inside #VentureStudios, which have delivered 2X IRR and exit 45% faster than traditional #VC-backed #startups over the last 10 years. Some of the secret sauce to this is that studios have found a way to validate strategies early on, de-risk execution, preserve and extend limited runway, and create efficient business models very fast. We at 9point8 are seasoned studio builders and are on a mission to bring this value to founding teams as they navigate their startup journeys. What we’ve done with the Virtual Studio is distill these key processes and techniques, add in our own expertise and best practices, and package them into a program which meets start-ups where they are. We are now opening up our Summer 2024 Cohort, slated to begin in July. Space is limited, so I’m sharing the opportunity with my network before we fill the cohort. Here are the details: -It’s a 3-month program which takes the founder through the key phases of venture-building and de-risking (refining target market, product-market fit, economics and financials, planning, and fundraising). -Founders can expect to achieve greater focus, improved operations and increased marketability to customers and investors. -The end results include collaboratively-drafted operational plans, commercial / investment pitch decks, and elevated management practices within the founding team. These draft off frameworks from 9point8's proprietary venture-building process: Targets Over Everything. -It’s built for founders facing (or approaching) a critical inflection point, where fresh perspectives and strategic management levers are critical. These might include fundraising preparation, new product launch, market expansion, and post-MVP scaling efforts. Why did we build this program? Because building a new company is really hard. 90(!) percent of startups fail, and even moderate risk reduction can create a huge lift to survival rate and eventual returns. The studio model is proven to drive greater venture success; our virtual program is extending that success to more and more teams. The program is highly collaborative and hands-on, so we only take on a few companies at a time. This is a great opportunity for founders who are looking to level-up their abilities when it comes to unlocking traction, growth, and an express lane to superior returns. If interested, please reach out immediately as we expect the program to be fully enrolled very soon! Blair Merlino Evan Allen Neal Ghosh

55

17 Comments

Can poop save the planet? 🤔 Well, in Silicon Valley, it's not just a punchline—it's a multimillion-dollar climate solution. Big players are teaming up with startup Vaulted Deep, paying $58.3 million, to pump organic waste underground. The deal was brokered by Frontier Climate, a coalition launched in 2022 by Stripe, Alphabet, Meta, Shopify, and McKinsey Sustainability. But why are tech giants getting their hands dirty with sewage and manure? Vaulted Deep's technology, rooted in decades-old methods used for oil and gas fracking cleanup, gives them an edge. But instead of sludge, they're tackling carbon-rich waste, aiming to sequester CO2 underground. They plan to sequester 152,480 tons of carbon dioxide by 2027 as part of the deal (That equates to 36,000 gas cars off the road for a year). Is this greenwashing, or a silver bullet? Critics warn of cost, the need for rigorous carbon accounting, and potential environmental trade-offs - i.e. emission prevention versus carbon removal. #decarbonization

13

1 Comment

🌱 Navigating the Valley of Death: The Challenge of Scaling Climate Solutions 🌍 - Jonathan Strimling's Insight: CEO of CleanFiber discusses the significant hurdles climate tech companies face moving from innovation to mass production. His company's breakthrough in turning cardboard into superior insulation is just the beginning of a much larger journey. - The "Valley of Death" Explained: This critical phase in a startup's lifecycle lies between initial funding and the scale-up necessary for commercial success. Many promising technologies stall due to the vast financial resources required to build first-of-a-kind commercial projects. - Capital Intensive Needs: Unlike digital startups, climate tech ventures often involve heavy machinery and physical infrastructure, escalating initial capital requirements and investment risks. - Investment Challenges: Early-stage ventures attract investment with their potential and lower initial costs. However, as these companies evolve, the amount of capital needed grows exponentially, making it harder to find willing investors. - Strategic Financial Approaches: Experts suggest a blend of equity, debt financing, and strategic partnerships to bridge this gap. Traditional venture capital models, which favor high returns, often fall short in supporting capital-heavy, high-risk infrastructure projects. - The Role of Catalytic Capital: To mitigate these risks, some advocate for "catalytic capital" from non-traditional sources like government grants and philanthropic funds, which can absorb higher risks. - Success Despite Hurdles: Despite facing unexpected challenges like the pandemic, CleanFiber has successfully opened its first plant and is planning further expansions, illustrating that overcoming the valley of death is tough but possible with the right strategies and support. - A Call to Action: The journey of CleanFiber underscores the urgent need for innovative financing strategies and stronger investor networks to propel the scaling of climate solutions necessary to meet global carbon reduction targets. #ClimateTech #Sustainability #Innovation #Entrepreneurship #VentureCapital #CleanTech

1

Over the years, we at GFR Fund have solidified our investment thesis, which is that we invest in "emerging digitally native communities." These communities can be built around games, social media, and any consumer applications. Now, founders have many easy-to-use tools to build user communities, such as Discord, X/twitter, Instagram, etc, and we believe the founders should start building communities even before they launch a product. The communities can help founders: - reach PMF faster - acquire users cheaper - retain and engage users longer - build better UX/UI, and - hire early employees Below, you can see how RTFKT and Omeda Studios built the community and then worked with them to create a product the users really wanted. We would love to talk to the founders who think the community is essential in building a product!

47

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

14

Imagine sailing through fundraising rounds, proving your breakthrough technology's potential, only to hit a roadblock when you get to scaling up and building a commercial plant. Some call it the "commercial valley of death." The assumption is that once climate tech solutions are proven, then industry/corporates will scale them. The reality is they're pressured to invest where there's immediate shareholder value. #mindthegap Prime Coalition’s Trellis Climate Program wants to bridge that gap. Here's how: 🌍Tapping Philanthropy: They take a unique approach by tapping into philanthropic funds to fuel high-impact projects during the middle stages, where traditional capital falls short. 🌍 Investing in Innovation: For climate tech founders, this funding model offers a ray of hope. While there are plenty of early-stage funding options, Trellis Climate fills a crucial gap by propelling proven technologies toward commercialization. 🌏Philanthropy as a Catalyst: By using philanthropic dollars as catalysts, they attract infrastructure investors willing to take calculated risks. Together, they pave the way for scalable climate solutions. Trellis Climate is getting started with investments in startups Ample Carbon and Ebb Carbon. Lara Pierpoint #ClimateTech #Startup #Innovation #Philanthropy

27

1 Comment

Exciting news! We just sent out the inaugural newsletter for Future Frontier Capital, our pre-seed venture fund backing frontier tech startups. As I hit "send," I realized how launching FFC parallels the path of the founders we support. Starting FFC has required the same passion, perseverance, and self-belief that drive entrepreneurs. Just like a startup, getting a VC fund off the ground demands relentless hustle—building the brand, perfecting the pitch, and networking tirelessly. There are constant challenges that test your resolve and endless hours of unglamorous work behind the scenes. And perhaps most daunting - the self-doubt, wondering if you're crazy for attempting something so bold. Pushing through that negative self-talk requires unshakable faith in your mission. Raising this VC fund reminds me of starting our IP strategy and patent analytics firm two decades ago. It’s a powerful reminder of the perseverance, creativity, and resilience needed to turn an ambitious idea into reality. This experience makes us more empathetic partners, ready to support the founders we back. Our work is just beginning, and this inaugural newsletter underscores our commitment to supporting frontier tech startups every step of the way. #startups #VentureCapital #EmergingManagers #Entrepreneurship #InnovationMindSet

21

2 Comments

Climate tech startups raised $8.1 billion in the first quarter, near record amounts of money that suggest 2023’s quiet close might have been more of a blip than the sign of a protracted downturn. A deeper look into the $8.1 billion raised in the first quarter shows that investors focused their attention on materials, including green steel and battery materials and minerals. #climatetech #climateVC #climate

13

1 Comment

Discover how we are revolutionizing FemTech by building and supporting women-led startups from the ground up. Read the full interview with our CEO, Melissa Wallace, and learn about our mission to drive economic growth through investment in female founders. Read Here:

14

Summary: The article discusses the challenges faced by climate tech startups as they transition from the lab to commercial outfit. These companies, which work on hardware and infrastructure projects for climate solutions, struggle to raise necessary funds and often face difficulties in scaling up production. Key takeaways: The transition from early-stage startup to commercial operation is difficult, especially for hardware and infrastructure projects in the climate tech industry. The lack of financing options and specialized expertise for these types of projects creates a "commercial valley of death" that many companies struggle to overcome. Startups often fall into the trap of trying to expand their business too quickly, losing sight of their core value proposition and failing to ensure proper execution. Counter arguments: Some may argue that this "first of a kind" problem is not unique to the climate tech industry and can be seen in other industries as well. Others may argue that with the increasing focus on climate change and need for sustainable solutions, more funding and support will become available for these startups. #venturecapital #vc #startups

6

Attention all investment groups, angel groups, deal flow networks, etc: Join the 20,000+ people signing up for DFX in Q2 via Communities (already being built out). DFX is launching Communities May 1st. Communities, white-labeled on DFX, are a central location for these networks to share deal flow and gain more members/visibility. Here are some customizable aspects: 1. Your Logo/Branding 2. Your Content 3. Your Deal Flow (Deal Flow can also opt-in to being displayed across all of DFX) 4. Directory if Desired 5. Your Thought Leadership (Can be displayed across platform if desired) 6. Text/Phone/Video Chat Built In for Easy Communication We will feature your Community to provide more visibility (if desired). The Community Director (owner) runs the Community, controls content (we build it all out), and accepts/denies new prospective members. Communities are built out for free for networks of 50 or more members. Here is a link to an example version of our Communities - https://lnkd.in/dBs-GYJQ #investors #lenders #dealflow #angelinvesting #vc #pe #deals #communities #community #DFX #dealflowxchange

1

Summary: Co-founder of Collaborative Fund, Craig Shapiro speaks about their unique investment strategy in sectors like climate, health, and food and their impressive fundraising success in a tough market. Key takeaways: Collaborative Fund invests in non-traditional sectors like climate, health, and food, rather than the popular SaaS business model. The firm's sixth flagship fund raised $125 million in just over 90 days, despite the current challenging fundraising environment. The firm focuses on seed stage companies and emphasizes on addressing changing consumer spending habits and climate sustainability in their portfolio. Counter arguments: Some may argue that Collaborative Fund's focus on non-traditional sectors may not yield as high returns compared to popular sectors like SaaS. The difficult fundraising environment and lower interest from LPs could potentially affect the firm's future investments and success. #venturecapital #vc #venture #startups #fundraising

6

"There's plenty of capital available in multiple flavors for Climate Tech Companies..." 🌍💸 Did you know that in 2023, 50 VC deals for climate tech companies exceeded $150 million, with nine of those surpassing $500 million? Venture capitalists are increasingly turning their focus toward startups to tackle the climate crisis, marking a significant shift in investment priorities. Despite the challenging environment for venture capital in 2023, with overall investment in climate tech falling by 14.5% to $41.1 billion, the commitment to climate solutions remains robust. Key trends and insights are shaping the evolving landscape of climate tech investment. Are you an early-stage Climate Tech founder looking to fundraise? Curious about the main drivers for the industry? ⬇ Dive into my latest Forbes article to learn more. Special thanks to Hannah Sieber & Arun Gupta for sharing your invaluable insights! https://lnkd.in/gNhe8jew #ClimateTech #VentureCapital #Forbes Artyc Skyven Technologies

26

2 Comments

🚨 NEW! Fundraising Playbook: 10 Steps to Fundraising Success In partnership with our friends at Forecastr, we are excited to share a new FREE resource for founders who are looking to step up their fundraising game. The 10 steps outlined in this Fundraising Playbook will guide you through the entire process, from building an investor pipeline to crafting your pitch and closing the deal. These are the same steps Forecastr has successfully implemented to raise 4 consecutive oversubscribed funding rounds, even through some of the most challenging fundraising conditions ever. These tried and true fundraising tips and strategies have also been implemented by numerous clients that Forecastr works with to successfully raise capital from investors. To receive a FREE copy simply reply "FNF" in the comments.

32

19 Comments

An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

109

10 Comments