Announcing Avid Ventures’s $68M Debut Venture Capital Fund
We are thrilled to announce the launch of Avid Ventures’s $68 million debut venture capital fund! Having spent the first ten months of the pandemic fundraising and laying the foundation for Avid Ventures, we are excited to share the thesis and ethos behind Avid and our investment strategy.
Avid’s mandate is to back exceptional founders who are building industry-changing fintech, consumer internet, and software companies at or around the Series A and B stages.
We have already made investments in Alloy, Nava, Nova Credit, Staircase, The Wing, and Rapyd, companies that are transforming the identity, healthcare, credit, mortgage, co-working, and alternative payments industries, respectively, and we feel lucky to get to work with these visionary founders on a daily basis. We are backed by a phenomenal group of Limited Partners, including our anchor investors Schusterman Family Investments and the George Kaiser Family Foundation, as well as prestigious institutions, family offices, and strategic individuals. The process of starting Avid and betting on ourselves has turned us into founders, and we profoundly empathize with (and deeply respect!) the entrepreneurs we interact with every day. We have relished spending our first year bringing Avid to life, and we are just getting started!
At Avid, we sincerely believe that investing in a founder’s startup is a privilege to be earned. This founding ethos has informed our entire investment approach of being highly flexible, truly collaborative, and genuinely hands-on.
When we meet founders we love, we sprint to “earn” the right to invest in their startups by developing long-term relationships and by proving our value-add well ahead of a prospective investment. Once we’ve earned that right, we’re able to align ourselves with the founders, existing investors, and new co-investors given the fact that we intentionally avoid strict ownership targets and can be flexible around check size. Even after we’ve invested, we continue to work hard to earn the privilege of making a significantly larger investment in a future financing.
We know that a lot of investors claim to be “hands-on” and “value-add.” At Avid, we like to let our founders speak for us, because they can attest to how we follow through on being disproportionately helpful, especially as a non-lead investor.
Our founders will tell you that we serve as an extension of their team, particularly in the finance and biz dev functions. We become their “outsourced strategic CFO,” supporting our companies on everything from strategic growth modeling and unit economics analysis, to finance and operations talent recruiting, key customer and biz dev intros, and high-touch fundraising guidance and prep. This hands-on approach enables us to help founders accelerate their trajectory as they grow their early-stage startups into proven growth businesses. We are eager to get in the trenches of company building alongside our founders, and we have developed our entire investment strategy around being able to do so.
This is just the beginning of the Avid story. We cannot wait to continue to play a small but meaningful role in our founders’ exhilarating journeys as they revolutionize industries for the better.
The Avid Team