These are the slides that accompanied the Q2 2021 Quarterly Investment Briefing for West of England on 24th June. The event included lightning talks from Matt Penneycard, Ada Ventures, Matt Hicks, Williams Advanced Engineering and Sam Olof, Science Creates Ventures.
Slides 56-58 include information about those 13 companies that are actively raising investment in Q2 2021. Check out the disclaimer - these aren't recommendations, just information.
2. QIB Guiding Principles
Those who attend the Quarterly Investment Briefing share
three common principles:
• Whoever attends is an active or potentially active investor, or
manager of investors – or enabler of investment activity.
• Whatever is presented is informative, fact-based and regionally
relevant.
• We value the opportunity to learn equally with the opportunity to
share.
3. Positive News
$75m from Series C funding Insight Partners, Menlo Ventures, and Citi Ventures.
Existing investor Goldman Sachs Asset Management also participated.
$123m in total, 200 ppl with joint HQ in Bristol and Boston
£3.1m to keep data safe from the next generation of quantum-computing
enabled hackers
£3m series A funding to accelerate the growth and impact of the
Neighbourly platform
5. Agenda
12:35 – 12:45 Welcome and scene setting
12:45 - 13:30 Lightning Talks
+ Matt Penneycard, Ada Ventures
+ Matt Hicks, Williams Advanced Engineering
+ Sam Olof, Science Creates Ventures
13:30 - 13:45 Beauhurst data & who’s raising
13:45 - 14:30 Networking - 4 minute conversations
6. Raised successfully in Q2 2021 (49)
South West
Immersive Labs
Provides online training services for businesses,
focusing on gamification to teach cyber security.
SageTech Medical Equipment
Develops technology that recycles anaesthetic agents to
reduce their environmental and financial impacts
Cushon
Operates a comparison website that lists a
number of investment funds and ISAs
+ Neighbourly
+ Argonaute RNA
+ Anaphite
+ Mami Wata International
+ Bedfolk
+ INSPHERE
KETS Quantum Security
Develops technology using quantum key
distribution to increase digital security.
Cloud8
Develops white-label employee benefits software for
employee benefit consultants
Hybrid News
Owns and operates a number of digital media
outlets aimed at young people considering
attending university abroad.
Cornish Lithium
Explores the potential for lithium mining in Cornwall
11. We find extraordinary talent
in places that others aren’t looking.
To deliver extraordinary returns to our investors.
12. We have the biggest and most diverse
VC scout network in the world.
We find and win competitive opportunities because our mindset
and values align with the founders of the future.
13. So who are we?
● Experienced VCs who understand how the industry works and how it needs to change.
● Equal partnership with a combined 20 years of venture experience, in the US and UK.
● Six years working together in partnership.
● 4.3x TVPI & 31.8% IRR jointly, taking companies from pre-seed to exit many times over.
We are hungry, humble and honest.
Check Warner Matt Penneycard
14. £600,000
Average cheque size
%11
Average ownership
45.6% IRR 1.3x TVPI
Tracking top
quartile US
(Cambridge Associates)
Portfolio gender diversity
in founding teams
women 60% – men 40%
Ada Ventures Fund I (2019) - £38m ($50m), the story so far
15. We identify and invest in paradigm shifts in customer behaviour,
creating new category leaders in multiple sectors
Change
Change
Change
Inclusive, diverse society,
embracing individual identity
Exclusive, white, western
orientated society
Decentralised, increased
agency and autonomy
Top down, hierarchical
and centralised institutions
Stakeholder capitalism
Shareholder
capitalism
The past The future Eg from Ada Fund I
16. Our strategy gives us flexibility to capture opportunity
across pre-seed and seed
Pre-seed cheque
Ada Ventures cheque £350-750k
Round size £500k-1.5m
Pre-money £2-4m
Round buys 20-25%
Ada Ventures ownership 10-15%
Runway 18 months
Seed cheque
Ada Ventures cheque £1-3m
Round size £2-4m
Pre-money £6-10m
Round buys 20-25%
Ada Ventures ownership 10-15%
Runway 18 months
Ada Ventures leads rounds in the following two types, depending on the company.
We target 10-15% ownership in the pre-seed round and seed round. We reserve 50% for follow-on.
Full model & portfolio construction available in dataroom.
17. “Check and Matt were the first VCs we ever met and have helped us immeasurably during the last three years since
meeting them. All VCs will tell you they’re founder friendly, all will tell you they deliver value far beyond the cash, many will
tell you that your interests align.
In reality, if you’re lucky, your VCs will share your vision and not get in your way. The promises of value adds rarely
materialising, the founder friendliness only going as far as market competitiveness demands and only until the next round
and next set of negotiations. Ada are the exception. Not because they recognise that your success is ultimately the best
way to guarantee their success, but (or so it appears to me) because they are driven first by a deep desire to always do
the right thing. Rare in life, I will say no more than that it is no less rare among venture capitalists.
It’s my suspicion that it is this palpable decency, apparent to anyone that spends any time with Check and Matt, along
with intelligence, industriousness, discretion, imagination, and above all ambition, that has resulted in them punching way
above their weight in their network of large later round VCs, and in weight these VCs clearly place on their
recommendation (they have introduced us to each of our subsequent investors which they have hand-picked for us to
maximise our chances of success). In short there are no more committed, better networked, ambitious, savvy VCs out
there. If you’re an LP you should be investing in them, if you’re a founder you should only take another VCs funds if you
can’t get Ada’s.”
We build deep, trusted relationships with extraordinary founders
Martin Bysh - CEO & Co-founder,
Huboo
18. Our unfair sourcing & DD advantage: Ada Scouts
Our scout network reaches 10,000 founders
across the UK & Europe
100 scouts representing diverse
communities
20 operator angels
Ada core team of 4
Expert network
Steering
Group
LPs
.
Plus scouts
in Oslo, Berlin,
New York and
Bucharest
A selection of Ada’s scouts & angels
20% of Fund I
investments
are scout
sourced
Arfah Farooq
Muslamic
Makers
Ash Philips
Diffrent
Nicole Crentsil
Black Girl Fest
David Fisayo
Foundervine
/ Wealth8
Anjel Noorbakhsh
Ashman
Iranian Women's
Association
Andy Ayim
Angel Investing
school
Rockman Law
Cyber security /
Kick Start Global
Beth Glenfield
Women Who
Code, Belfast
Esther Akpovi
Gen Z/
Nottingham
Luciana Carvalho
Se
LBTQ+ / VR/ AR
Lubomila
Jordanova
Greentech
Alliance
19. Our brand stands out and helps us attract founders,
co-invest with the best & win deals at the margins
15k+ social
followers on
owned channels
Scouts & angels give us additional reach
Regularly
write for
Co-founder of
Number 1 Diversity &
Inclusion Organisation
in Europe
Featured on
podcasts &
in news
Tier One Co-investors in Fund I.
Leaders in Impact, D&I &
Mental Health
NPS of 95
20. Arlan Hamilton
Founder,
Backstage Capital
Niklas Zennstrom
Co-founder of
Skype / Atomico
Janne, Ilkke, Mikko
Co-founders,
Supercell
Dame Cilla Snowball
Ex-Group CEO
AMV BBDO
Wellcome Trust
Taavet Hinrikus
CEO
TransferWise
A selection of Ada’s Fund I LPs
A selection of Ada’s expert network
Gareth Nettleton
CMO, Strava
Alice Newton-Rex
Product Lead
Whatsapp, ex-CPO WorldRemit
Our LPs and expert network comprises leaders from global tech
Patrick Pichette
ex-CFO, Google,
Partner, Inovia Capital
21. Michelle Ashworth
Head of Venture,
Church Commissioners,
Adviser, CDC
Knightsbridge Advisers
Marta Sjögren
Ex-Partner
Northzone
Founder,
Stealth Climate Co
Charles Hudson
Partner
Precursor Ventures
15 years in VC
Ed Zimmerman
Partner
Chair, Tech Group,
Lowenstein Sandler
LP in 150 VC funds, Angel in
150 startups across US,
Europe, Africa
Adj Prof Columbia Biz
Portfolio Strategy Ser. A & Nordics San Francisco NYC
We are supported by a diverse steering group
28. | 28
World leading technology
and engineering service operation
Relish solving the most difficult applied engineering
challenges
Established 2010
Spun out of Williams F1
Now independent
HQ at Williams Campus in Oxfordshire
300 staff covering a range of disciplines
30. |
Williams
value add
Disruptive and
defensible
technology
Strong team with
roadmap to
commercialisation
Large obtainable
market
£0.5-2.5m initial investments targeting potential for 10x return
Strategy focused on early-stage hardware technology and industrial software
30
55. Raising equity funding Q1 2021
The activities of the Investment Activator Programme (and specifically the Silicon Gorge Pitch Competition, Quarterly Investment Briefing and Pitch Me events) do not give advice on the risks of investment and are not authorised to
carry on investment business under the Financial Services and Markets Act 2000 (‘the Act’). Before investing in a project about which information is provided herein, potential investors are strongly recommended to take advice from a
person authorised under the Act who specialises in advising on investments of this nature. Opportunities showcased here have been reviewed and selected NOT verified.
An open call to anyone, not vetted or reviewed.
13 £4.7m
Companies In total
56. Raising Q2 2021 – an open call £500k +
Persona Education £500k
Tackling the teenager wellbeing crisis with
personality insights based social-emotional life skills
e-learning for schools.
Data Cubed £500k
myDATA3 - the all-in-one-place business
dashboard
The activities of the Investment Activator Programme (and specifically the Silicon Gorge Pitch Competition, Quarterly Investment Briefing and Pitch Me events) do not give advice on the risks of investment and are not authorised to
carry on investment business under the Financial Services and Markets Act 2000 (‘the Act’). Before investing in a project about which information is provided herein, potential investors are strongly recommended to take advice from a
person authorised under the Act who specialises in advising on investments of this nature. Opportunities showcased here have been reviewed and selected NOT verified.
LatchAid £500k
Award-winning Femtech start-up using cutting-edge
3D technology and AI to support women through their
breastfeeding and motherhood
Service Robotics £600k
GenieConnect® enables extended independent
living for older adults receiving domiciliary care.
57. Raising Q2 2021 – an open call £300k+
Stratiphy £400k
We're the world's first app to offer sustainable
investment strategies. .
Liketobe Ltd £350k
Building an employer and provider network which
helps them become more accessible digitally for both
students and adults alike.
The activities of the Investment Activator Programme (and specifically the Silicon Gorge Pitch Competition, Quarterly Investment Briefing and Pitch Me events) do not give advice on the risks of investment and are not authorised to
carry on investment business under the Financial Services and Markets Act 2000 (‘the Act’). Before investing in a project about which information is provided herein, potential investors are strongly recommended to take advice from a
person authorised under the Act who specialises in advising on investments of this nature. Opportunities showcased here have been reviewed and selected NOT verified.
Vizniti Solutions £280k
Solving current cloud platform challenges such as
availability and security and enabling businesses
to build their private cloud
My Pet Partnership £300k
Develops software to reduce costs and improve
the quality, accessibility and affordability of
veterinary healthcare.
Greener Hours £300k
A 'behaviour-first' solution to carbon reduction that
educates, encourages and rewards people to use
residential energy when it’s clean.
Good with £300k
Personalised Financial Education Virtual Assistant
driven by innovative use of Financial Data.
58. Raising Q2 2021 – an open call £175k+
Ferryx £270k
Innovative bacterial products for the treatment and
prevention of gastrointestinal inflammation in people and
animals.
The activities of the Investment Activator Programme (and specifically the Silicon Gorge Pitch Competition, Quarterly Investment Briefing and Pitch Me events) do not give advice on the risks of investment and are not authorised to
carry on investment business under the Financial Services and Markets Act 2000 (‘the Act’). Before investing in a project about which information is provided herein, potential investors are strongly recommended to take advice from a
person authorised under the Act who specialises in advising on investments of this nature. Opportunities showcased here have been reviewed and selected NOT verified.
Neuron Innovations Ltd £250k
Provides revenue incentives to infrastructure operators
to deploy 3rd party ground-based surveillance sensors.
Internet Speed Monitor £175k
Convenient physical device and cloud platform that helps
consumers reclaim control of their internet service.
59. Review company investment summaries here:
https://platform.investwest.online/groups/qib/signup/investor