Welcome to the Indicator Ventures Blog! Though long overdue, we’re happy to finally have a forum where we can share updates on our portfolio, general happenings with the fund, our amazing team and various thoughts on the early stage Venture Capital market at large.
When we set out to build Indicator Ventures almost two years ago to the day, we never could have envisioned being where we are today. For three partners who are younger than the average GP, and none from a big name fund, the odds were against us in many ways. But like a hungry entrepreneur, this is also what gave us our edge. Drawing on core skill sets in marketing, operations and finance, we knew we could build an enduring and impactful Venture Capital fund.
In February 2014 we decided to drop everything we were doing (which meant winding down existing businesses) in order to lay the foundation for what would become Indicator Ventures. We began by taking our best angel investments (8 investments totaling $1.425M of cost) and rolling them into the fund (despite material markups) and at the expense of our own personal dilution – to help build a foundational portfolio that would demonstrate our commitment, highlight our investment thesis and disciplined diligence process, and of course, attract limited partners.
Following several months of planning and building, we set out to raise our fund in July, 2014. By the end of the year and just 6 months later we had raised just shy of $15M, and closed the fund soon thereafter. We did this while continuing to build the portfolio and manage existing investments. As it stands today (just two years later) we have 18 companies in our portfolio and $16M under management.
While the ‘proof is in the pudding’ as they say, and we still have a long way to go, every day we see more and more validation of our thesis; digital efficiencies. Simply put, we invest in digital products and services that create efficiencies for enterprises and/or consumers. It’s a simple view but we believe anything that can truly save time or money, either directly or indirectly, is valuable. Moreover, our approach of investing early on in real business models with real monetization strategies and real path(s) to profitability has proven to be a true differentiator. We did this before it was a trend and we remain steadfast in this approach into the future, despite market conditions.
While we are proud about what we have accomplished, we know we still have a tremendous amount of work ahead of us. Moreover, we also know (and would be remiss if we did not point out) that none of this would have been possible without the support and backing of our investors, (we have a small and incredible roster of LPs!) and our amazing team (17 strong including Venture Partners, Advisors and Resident Experts) and of course, our incredible founders! We are thankful for all who have supported us on this unbelievable journey and we look forward to continuing to build Indicator Ventures.
Ben, Geoff and Jon