MOUNTAIN VIEW, Calif., March 12, 2024 — Applied Intuition, Inc., a vehicle software supplier for automotive, trucking, construction, mining, agriculture, and other industries, has raised a $250 million Series E financing round at a $6 billion valuation. The round was led by Bilal Zuberi at Lux Capital (Series C lead investor), Elad Gil (Series D lead investor), and strategic investor Porsche Investments Management S.A. Applied Intuition also announced the following new and existing investors: Andreessen Horowitz (Series A lead investor), General Catalyst (Series B lead investor), Mary Meeker at BOND, Human Capital, Henry Kravis, Mustafa Suleyman, Ray Dalio, John Quinn, and Nico Rosberg.
Applied Intuition is a Tier 1 vehicle software supplier that accelerates the adoption of safe and intelligent machines worldwide.
Applied Intuition has maintained sustainable triple-digit percentage growth year-over-year, profitably. It has expanded beyond its Silicon Valley headquarters to Detroit, Washington, D.C., Germany, Korea, and Japan and has customers worldwide, including 18 of the top 20 automotive OEMs.
“Applied Intuition benefits from generational megatrends including generative AI, autonomous systems, and software-defined vehicles. It is no wonder the company has built a scalable business and become an indispensable partner to top automotive OEMs and the U.S. military,” said Bilal Zuberi, General Partner at Lux Capital. “Applied Intuition is at the forefront of the AI revolution to transform the global transportation industry, and we are excited by its growth and distinctive position in the market. The best evidence is our enthusiasm to invest in every opportunity in the company’s history.”
The company will use the financing to make significant investments in generative AI to unlock substantial value for customers and partners. With recent advancements in large language models (LLMs), Applied Intuition is uniquely positioned to help its customers revolutionize the vehicle software development process. The company will continue to recruit the world’s best software and AI engineers to further expand its offerings that enable its customers to have the world’s most advanced driver-assistance systems (ADAS) and automated driving (AD) solutions.
“More than ever, consumers expect exclusive and seamless software integration in their cars,” said Lutz Meschke, CFO at Porsche AG. “With this strategic investment and partnership we want to further strengthen Porsche’s expertise in the field of software and customer experience.”
“Within the last few years, we’ve seen massive advances in artificial intelligence that will have groundbreaking impacts on the industries that Applied Intuition serves. Our role as a leader in the ecosystem is to bring the best of what Silicon Valley has to offer to our global customer base,” said Qasar Younis, CEO and Co-Founder of Applied Intuition. “Our industry-leading vehicle software products will infuse AI technology to expand beyond our definitive ADAS and AD toolchain, which will exponentially accelerate the production of next-generation vehicles.”
About Applied Intuition Applied Intuition is a Tier 1 vehicle software supplier that accelerates the adoption of safe and intelligent machines worldwide. Founded in 2017, Applied Intuition provides the definitive ADAS and AD toolchain to deliver high-quality systems and shorten time to market. 18 of the top 20 global automakers trust Applied Intuition’s end-to-end solutions to drive the production of modern vehicles. Applied Intuition serves the automotive, trucking, construction, mining, agriculture, and defense industries and is headquartered in Mountain View, CA, with offices in Ann Arbor and Detroit, MI, Washington, D.C., Munich, Stockholm, Seoul, and Tokyo. Learn more at https://appliedintuition.com.
SINGAPORE, March 12, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its participation in a US$50 million Series A funding round for Eclipse, a pioneering Ethereum Layer 2 solution utilizing the Solana Virtual Machine (SVM).
Eclipse is committed to offering a Layer 2 that excels in speed, security and scalability, promising an environment where powerful applications can seamlessly interact among millions of users. Eclipse Labs Founder Neel Somani said: “Eclipse aims to be the quickest Layer 2 on Ethereum, leveraging the most efficient components of the available modular stack. To cater to 99% of use cases, Ethereum requires a single, scalable and composable Layer 2. While other Layer 2 ecosystems have focused on full EVM compatibility, this has resulted in a fragmented and slow Layer 2 landscape. Eclipse fuses the high-performance SVM with Ethereum‘s vast liquidity pools, ensuring verifiability.”
OKX Ventures Founder Dora Yue said: “Eclipse stands out for its unique approach that empowers builders and users alike, and enables developers and users to creatively piece together DApps and protocols. In addition, Eclipse excels in providing a platform for builders to thrive, resulting in an enhanced user experience. Users can also easily provide transaction feedback, trusting the Ethereum-backed SVM. At OKX Ventures, we’re committed to supporting user-friendly and innovative projects.”
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
TORONTO, March 11, 2024 — Quthero, a pioneering biotech company renowned for its unique Q-peptide platform technology, proudly announces the successful acquisition of $500,000 in investment funding from the Ontario Centre of Innovation’s (OCI) Life Science Innovation Fund. This is in addition to a co-investment of $850,000 for a total round size of $1,350,000.
“Through the Ontario Life Sciences Innovation Fund, our government is ensuring that Ontario companies, like Quthero, have the resources they need to develop cutting-edge solutions,” said Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. “We congratulate Quthero on the success of their unique Q-peptide platform technology and thank them for their contributions to Ontario’s life sciences sector.”
OCI is renowned for fostering collaboration among industry, academic, and government partners, strategically invests in research and development, technology innovation, and commercialization initiatives to deliver optimal returns on innovation for Ontario and Canada. Quthero’s groundbreaking technology facilitates the complete regeneration of a patient’s natural tissue with minimal scarring.
“We are excited to have OCI’s investment in Quthero which will allow the company to begin launching our dermatological post-procedure products. These products are designed to enhance patient experience and speed up recovery after aesthetics procedures such as microcoring and radio frequency microneedling,” said Milica Radisic, PhD, President and CEO of Quthero.
Quthero has harnessed the potential of its patented Q-peptide platform technology to develop multiple applications. Proven to accelerate healing, reduce redness and bruising, and prevent scarring post-cosmetic procedures, Quthero’s products are available for direct purchase on their website www.quthero.com or through participating physicians.
“Quthero’s groundbreaking technology has the potential to transform lives. The company’s patented Q-peptide platform is versatile in its applications. OCI is proud to support the development and commercialization of this technology. This investment demonstrates our commitment to advancing innovative solutions that contribute to Ontario’s thriving innovation sector and beyond,” said Claudia Krywiak, President and CEO, Ontario Centre of Innovation.
About Quthero: Quthero is discovering and developing innovative applications for tissue regeneration utilizing their patented Q-peptide technology that are effective, safe and cost competitive. To learn more, visit Quthero.com.
About the Ontario Centre of Innovation: The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.
As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly-skilled talent.
OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.
The announcement comes during the Game Developers Conference week, where the company will host a special side event
SAN FRANCISCO, March 11, 2024 — Blockus, an emerging, innovative force at the intersection of blockchain technology and gaming, today announced a significant milestone, securing $4M in pre-seed funding. This successful raise follows Blockus’s participation in the prestigious a16z Crypto Startup Accelerator, which not only provided access to mentors and advisors but also allowed the startup to connect with potential investors.
The pre-seed round was led by Maple VC and included Altos Ventures as well as known angel investors such as Zhuoxun Yin from Magic Eden, Michael Ma from CreatorDAO, and Bryan Pelligrino from LayerZero.
Blockus is dedicated to transforming the gaming experience by enabling studios to onboard their players and build on-chain gaming features with ease. The company has already gained traction in the market, with over 30 partners already signed, including Ambrus Studio, the team behind E4C: Final Salvation. The funding will allow Blockus to accelerate its growth, expand its team, strengthen sales operations, and invest heavily in product development.
“This pre-seed raise marks a pivotal moment in our journey,” said Jess Zhang, Co-founder & CEO at Blockus. “The trust our investors, like Maple VC, have placed in us is both humbling and inspiring. We’re ready to unlock the next level of innovation in the gaming industry, and we’re excited to bring our blockchain solutions to even more studios and developers.”
With a rapidly expanding market – approximately 62% of all dApp activity comes from gaming projects, and Web3 gaming is expected to reach $600B by 2030 – Blockus is in a prime position to capitalize on this growth.
“We’re thrilled to witness Blockus’s latest achievement,” said Johnson Yeh, Founder & CEO at Ambrus Studio. “As innovators in the gaming space, we’re proud to partner with a company that’s pushing the boundaries of what’s possible. The potential for Web3 in gaming is immense, and we’re confident that Blockus will play a major role in shaping its future.”
The announcement is made in the lead-up week to Game Developers Conference (GDC) taking place in San Francisco. There, the company will host a dedicated event on March 21 at 7 p.m. at the iconic SPIN bar to engage with the Web3 gaming community, and current and potential partners.
“Blockus has the potential to be the catalyst for a new era of gaming, built on the principles of decentralization and player ownership,” said Andre Charoo, General Partner at Maple VC. “The founders’ deep understanding of both gaming and Web3 technologies, combined with their track record, makes them an exceptionally compelling team to back. We believe Blockus is poised to lead the way in the Web3 gaming revolution.”
To celebrate its funding milestone, Blockus is extending a special offer of $20,000 in credits to potential clients for the two weeks following the announcement period. This offer presents a unique opportunity for game developers interested in exploring how Blockus can elevate their game experiences.
You can learn more about the event at GDC and apply for the credits here: https://lu.ma/blockusgdc
About Blockus
Blockus is a complete Web3 gaming economy ecosystem. Beautifully built, fully compliant, and seamlessly integrated into games, the company’s mission is to create a future where players have true ownership of their in-game assets and where gaming experiences are more immersive, engaging, and rewarding. Learn more about Blockus at https://www.blockus.gg/
Pitch competition to be held March 27 during On Tech @ On Aging 2024
ATLANTA, March 11, 2024 — AgeTech Atlanta and the American Society on Aging today announced finalists for the AgeTech Challenge Innovation Showcase 2024. Finalists will pitch to an A-list panel of venture capitalists for the chance to win $10K during On Tech @ On Aging 2024, a four-day summit within the On Aging conference. On Tech includes a complete AgeTech track of workshops and speakers, a two-hour AI event featuring investors and innovators, as well as a Startup Alley featuring AgeTech devices and technologies designed to help older adults live their best lives. This year’s On Aging Conference will be held March 25-28 in San Francisco and is the largest multidisciplinary conference on aging in the country.
“We’re thrilled to announce another blockbuster lineup of finalists for this year’s AgeTech Challenge Innovation Showcase at On Aging 2024,” said Jeff Gray, founder of AgeTech Atlanta. “These innovations are as diverse as the founders who created them, with women-founded ventures leading the charge and representing seven out of the group of finalists.”
The AgeTech Challenge Innovation Showcase will feature early-stage companies from across North America that are developing groundbreaking solutions geared toward older adults, their caregivers, and the industries serving them, including fintech, logistics, Internet security, travel and hospitality, retail, digital health, smart home, and IoT. The finalists are:
“Over 12,000 people turn 65 every day in the U.S. The business and mission opportunities for the tech sector are clear, and the American Society on Aging is proud to support today’s innovators as they work to meet this moment,” said Leanne Clark-Shirley, CEO of the American Society on Aging. “We can’t wait to host the AgeTech Challenge Innovation Showcase at On Aging in San Francisco, especially as we celebrate our 70th birthday. Together, the ASA, AgeTech Atlanta, and these innovators are helping write the future of AgeTech enterprise!”
About AgeTech Atlanta AgeTech Atlanta is a close-knit community of Atlanta-based innovators that are committed to changing the definition and experience of aging. Founded in 2021, AgeTech Atlanta is on a mission to make Atlanta #1 in AgeTech innovation. Our group is composed of startup founders, industry mavericks, educators, researchers, and influencers in the fields of AgeTech, eldercare, and longevity. For more information, visit our website at www.agetechatlanta.com.
About the American Society on Aging The American Society on Aging was founded in 1954. Celebrating 70 years, the organization serves 6,000+ members and over 180,000 constituents who work in, support, or provide care to the world’s fastest-growing population, our aging population. Learn more at www.asaging.org.
Media Contact: Kathy Berardi Carabiner Communications 678-644-4122 [email protected]
ORLANDO, Fla., March 11, 2024 — Once Upon A Coconut is thrilled to announce a significant milestone in its journey, as the renowned entrepreneur and “Shark Tank” star, Daymond John, joins the brand as an equity member. This partnership marks an exciting chapter for Once Upon A Coconut, which has captured the attention of one of the most influential business minds in the industry.
Daymond John, the founder and CEO of FUBU and a prominent investor on the hit television show “Shark Tank,” recently discovered Once Upon A Coconut’s exceptional line of coconut water products at random. What began as a simple tasting turned into a love affair with the brand’s distinct taste, captivating story, and unwavering commitment to a mission that resonated with him.
Known for his keen business acumen, Daymond John was immediately drawn to Once Upon A Coconut’s unique approach to coconut water. The brand stands out not only for its exceptional quality but also for the compelling narrative that accompanies each product. Once Upon A Coconut takes consumers on a journey from the lush coconut groves to their refreshing coconut water, capturing the essence of the tropical paradise in every sip.
“I came across Once Upon A Coconut by chance, and I was immediately captivated by the taste, the story, and the mission behind the brand,” said Daymond John. “It’s rare to find a product that not only delivers on quality but also tells a compelling story. I’m excited to be part of the Once Upon A Coconut family and contribute to its growth.”
Once Upon A Coconut’s dedication to sustainability and ethical sourcing, coupled with its mission-first approach of aligning with charities to give back to those in need, deeply impressed Daymond John. The brand’s commitment extends beyond delivering a delicious beverage; it encompasses supporting local communities, promoting eco-friendly practices, and ensuring that each step of the production process adheres to the highest standards of quality and responsibility.
“We are honored to welcome Daymond John to the Once Upon A Coconut family. His passion for innovation, business savvy, and commitment to making a positive impact align perfectly with our values,” said John Chiorando, Co-Founder and CEO of Once Upon A Coconut. “With Daymond on board, we look forward to reaching new heights and introducing our coconut water to even more people who appreciate the extraordinary blend of taste, story, and mission that sets Once Upon A Coconut apart.”
This exciting partnership between Once Upon A Coconut and Daymond John represents a powerful collaboration between a visionary entrepreneur and a brand committed to delivering a unique and exceptional product to consumers worldwide.
About Once Upon A Coconut Once Upon A Coconut is a brand dedicated to delivering the highest quality coconut water while sharing the enchanting story of its origin. From the tropical groves to your taste buds, Once Upon A Coconut takes consumers on a journey through taste, story, and mission. Committed to sustainability and ethical sourcing, the brand seeks to make a positive impact on the world while providing a refreshing and delightful experience. For more information, visit https://onceuponacoconut.com/.
About Daymond John Daymond John is a successful entrepreneur, investor, author, and television personality. He is the founder and CEO of FUBU, a global lifestyle brand, and is widely known for his role as a “Shark” on the ABC reality television series “Shark Tank.” With a passion for business and innovation, Daymond John continues to inspire and empower aspiring entrepreneurs worldwide. For more information, visit https://daymondjohn.com/.
SAN FRANCISCO, March 11, 2024 — Vouch, the leading provider of business insurance for high-growth companies, today announced the closure of a $25 million Series C-1 funding round, led by Ribbit Capital. The insider-led round was oversubscribed and follows a year of strong business performance, including 66% year-over-year revenue growth and favorable loss ratio outcomes. This growth trajectory is supported by an annual premium retention rate of over 120%, alongside improving margins across the business.
Sam Hodges, Co-founder and CEO of Vouch, remarked, “2023 was a landmark year for Vouch, driven by our team’s dedication and our investors’ belief in our mission. I’m proud that we’re one of the few companies in our market that has achieved our goals despite industry headwinds, balancing pursuit of our big vision with strong business performance. And most importantly, we’ve been there when our clients need us most, successfully resolving hundreds of claims – many of which are complex and potentially company-limiting – totaling many millions of dollars. This additional equity funding enables us to expand our insurance product set and distribution channels and also to continue investing in our technology platform.”
In 2023, Vouch also increased its reinsurance panel from four to seven partners and accelerated its pace of insurance innovation, including the launch of AI Insurance, a first-of-its-kind coverage that mitigates nascent AI risks including LLM hallucinations, regulatory mistakes and intellectual property issues. Vouch Horizon, the company’s solution for scale-stage startups, continues to win marquee accounts.
Vouch has invested significantly in its team, adding over 70 employees since 2022. Additionally, the company strengthened its leadership with strategic appointments, including Jared Klee as Head of Sales (previously of IBM Watson), Clark Kays as Head of Demand Generation (formerly of Marsh McLennan), Suzanne Robinson as Head of Claims (formerly of Travelers), Meg Glenn as Head of Actuarial (formerly of Clear Blue) and Mike Gorlin as Head of Underwriting (formerly of Zurich).
As Vouch embarks on this next phase of growth, the company remains dedicated to delivering cutting-edge insurance solutions that meet the unique needs of the technology sector.
About Vouch: Vouch is a US-based provider of business insurance to thousands of high-growth companies, having raised over $185 million from top-tier Silicon Valley institutions and investors, including Ribbit Capital, Redpoint Ventures, Y Combinator, Allegis, Anthemis and MS&AD Ventures. Since its inception in 2018, Vouch has empowered clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, fast, digital-first procurement and coverages that scale as the company grows.
Vouch Insurance Services, LLC (NPN # 19039391) and Vouch Specialty Insurance Services, LLC (NPN # 19926463) are licensed in the states in which they conduct business. Detailed license information is available at https://www.vouch.us/licenses.
Leading shelf-stable baby and toddler food brand plans to utilize the capital to further accelerate the brand’s category leadership, retail distribution, and innovation
AUSTIN, Texas, March 11, 2024 — Today, Serenity Kids, the leading shelf-stable pouched baby food brand in the country(1), has closed a $52 million minority investment and partnership with Stride Consumer Partners LLC (“Stride”), a growth-equity investment firm focused on the next generation of great consumer brands and services.
Serenity and Joe Carr, co-founders of Serenity Kids with daughter, Della, and a sampling of Serenity Kids’ nutrient-dense baby and toddler food products
Serenity Kids was created and is led by co-founders Serenity and Joe Carr who could not find baby food options that were both low in sugar and contained balanced macronutrients, so they decided to make their own. Since launching in 2018, Serenity Kids has quickly become the fastest selling shelf-stable baby food pouch brand in all grocery channels(2). The brand offers nutrient-dense products that contain the highest quality proteins and healthy fats across pouches, puffs, and toddler formula with national distribution in over 18,000 stores, including Whole Foods Market, Sprouts, Walmart, Target, Kroger, Publix, Amazon, Thrive Market, and more.
“The current investment landscape is pretty dire, so our ability to attract this financing and partnership validates our differentiation, mission, and growth potential. We’re excited to pour more resources into our revolution that elevates children’s nutrition so that all future generations can thrive,” said Joe Carr, President and Co-Founder of Serenity Kids. “We are profitable and were not seeking to raise funds, but when we met the Stride team we immediately connected with them and appreciated their approach to building strong sustainable brands. The Stride team’s proven track record partnering with companies like Yasso and Chomps makes us confident that they can help take us to the next level.”
Serenity Kids’ success, including 71% year-over-year retail revenue growth in 2023 versus 2022(3), can be attributed to the brand’s strong product quality and differentiation, unique innovation, and commitment to the highest nutritional, ethical, and taste standards that parents seek today. With their Ethically Sourced Meat Pouches as a top performing product line, Serenity Kids is elevating the category by providing healthy meat-based protein solutions for little ones that are dramatically outperforming(4) traditional fruit-based purees at both natural and conventional retailers. The brand was recognized on Inc. 5000’s fastest growing companies list of 2023. Serenity Carr, CEO and Co-Founder of Serenity Kids, was named one of Inc.’s 200 Best Female Founders in 2023.
“We launched Serenity Kids to create superior products that give little ones the best start possible,” said Serenity Carr. “Stride’s team has already been super collaborative, and we’re confident they’re the right partner to help propel our business into the next phase. We look forward to working with them to achieve our goal of helping babies grow up healthy, happy, and strong.”
The growth capital from Stride will fuel investment within key areas of Serenity Kids’ business, namely marketing, talent, and innovation. The funds and strategic partnership with Stride will support Serenity Kids’ vision to improve the well-being of all children by making it easier for parents to feed their kids the healthiest food.
“In my 20 years of experience in growth equity investments, I have rarely seen a brand with such a consistent track record of winning at the shelf as Serenity Kids,” said Juan Marcos Hill, Partner at Stride Consumer Partners. “We were impressed with the brand’s unique positioning and the team’s vision and passion to provide the highest quality, most nutrient-dense products for babies and toddlers. We look forward to supporting the Serenity Kids team on their continued expansion as they seek to transform the standard in baby and toddler food.”
Serenity Kids offers baby food pouch varieties in five lines: *new* World Explorers, Dairy-Free Smoothies, Ethically Sourced Meats, Organic Savory Veggies, and Purees with Bone Broth, as well as zero-sugar Grain Free Puffs, and a first-of-its-kind A2 Whole Milk Toddler Formula. These differentiated baby food recipes introduce savory flavors early and sets children up for a lifetime of healthy eating without an early craving for sugar. Serenity Kids is committed to only using premium-quality ingredients without any antibiotics, added hormones, pesticides, fillers, or major allergens. All of Serenity Kids’ products are third party tested for over 200 heavy metals and contaminants and are made with ethically sourced, regeneratively farmed meats and Certified USDA Organic vegetables, herbs, and spices.
Serenity and Joe Carr will maintain ownership and continue to run the company with this significant and timely financial investment.
Kirk Lin, Serenity Kids’ VP of Finance played a pivotal role in this transition and Haynes & Boone served as the exclusive legal advisor to Serenity Kids. Latham & Watkins LLP served as the exclusive legal advisor to Stride Consumer Partners.
About Serenity Kids:
Serenity Kids makes premium baby and toddler food products of the highest nutritional, ethical, and taste standards. Serenity Kids only uses ingredients without any antibiotics, added hormones, pesticides, fillers, GMOs, or major allergens. The brand has established partnerships with Land to Market and Partnership for a Healthier America. All of Serenity Kids’ products are Clean Label Project certified, and the brand is one of the few baby and toddler food companies that has received a Clean Label Project Purity Award. Serenity Kids’ meat and vegetable pouch lines as well as the Grain Free Puffs line and new Toddler Formula are available online at www.MySerenityKids.com, Amazon, and Thrive Market, and in over 18,000 grocery stores nationwide including Harris Teeter, select H-E-B locations, Kroger, Natural Grocers, Meijer, select Albertsons/Safeway locations, Sprouts, Target, Wegmans, Whole Foods Market, Walmart, and more. For more information on the brand, mission, and products, please go to www.MySerenityKids.com, and follow them on Instagram and Facebook.
About Stride Consumer Partners:
Stride is a private equity firm that specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands. Founded by a passionate group of experienced investor-operators, Stride’s unique approach brings together a fully integrated team of successful investors working alongside seasoned operators to assist high-growth and disruptive consumer products and services businesses to hit their stride. Together, Stride supports its partners on their journey as they take decisive steps toward delivering on their vision. Within consumer, the firm focuses on the following areas of expertise: beauty and personal care, food and beverage, active lifestyle, and multi-unit consumer services. The Stride team has had the pleasure of working side-by-side with the founders and teams of Brew Dr., The Bruery, Chomps, drybar, Essentia, First Aid Beauty, Jeni’s Splendid Ice Creams, MacKenzie-Childs, Odele, Patrick Ta, Simms Fishing Products, Skinfix, Tatcha, Truewerk, TRX, Urban Decay, and Yasso. For more information, please visit Stride Consumer Partners website.
(1) Leading defined as a brand with best-selling items. Serenity Kids Beef & Chicken have the most sales of any pouches in FMCG. Nielsen Baby & Toddler Food, Pouches, FMCG Channel, L13 WE 1/20/24
Fourth AnnualReport Finds Decline in 2023 Venture Capital Compensation from 2022
SAN FRANCISCO, March 11, 2024 — The Emerging Venture Capitalists Association (EVCA), the nonprofit dedicated to supporting the next generation of leaders in the venture capital industry, released its 4th Annual Compensation Report today.
Key Findings:
From 2022 to 2023, compensation dropped 10% for Analysts, 3% for Senior Associates, 1% for VP/Principals, and 1% for partners while rising 9% for Associates.
Average total compensation was $117,500 for analysts, $186,000 for Associates, $210,000 for Senior Associates, $270,000 for VP/Principals, and $387,500 for Partners.
A thriving innovation ecosystem requires constant re-investment to attract and develop the next generation of investors. One of the most powerful levers is competitive compensation, but data on compensation can be difficult to collect due to its sensitive nature. Since 2020, EVCA’s Annual Compensation Report has been used for industry-wide salary discussions and negotiations at every level of seniority. The report has kept a pulse on the venture capital industry, tracking compensation in the face of changing market conditions and global events while providing valuable insights that assist firms in attracting and retaining top talent.
The report is published with the ultimate goal of providing junior and partner-level venture capitalist investors with reliable benchmarks to accurately assess current and future compensation, irrespective of their role or fund. Additionally, the report seeks to provide GPs and senior leadership of venture funds a source by which to assess the compensation of junior team members compared to peer funds.
EVCA’s founder and chairman, Adam Dawkins, notes that even in the face of fluctuating market conditions, the 2023 VC Compensation Report underscores the importance of robust, data-driven insights for maintaining competitive compensation practices in the venture capital industry.
“Despite facing headwinds that have led to a slight contraction in compensation levels from the previous year, it’s encouraging to see that baseline compensation remains above 2021 levels. Our annual compensation report serves not only as a benchmark for industry standards but also as a crucial tool for venture capital firms to attract and retain the top talent necessary for driving forward the next wave of technological advancements and entrepreneurial success,” said Dawkins.
About EVCA EVCA is the primary community for the emerging (pre-partner & junior partner) venture capital investor. Founded in 2017, our 1350+ investors come from a diverse assortment of backgrounds to share insights on industry verticals, co-investment opportunities, career planning, community service, and personal interests.
