The Ledger
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Sim: Superhuman founder locked $10M Series A in separate bank account untouched
“Then he raised pre raised a ten million dollar A round. He put it in a separate bank account and said, I'm not going to touch this thing. I'm literally just going to put it there. I don't want to see it. It's in a separate bank account. I'm only going to opera…”
BoldStart Ventures refuses to invest in single-founder startups
“Well, I, we never liked single co-founder, co-founded companies or single founders, number one.”
BoldStart Ventures requires founders to be engineers actively building product
“And secondly, they have to be engineers. Engineers, Building product. That's really important.”
Ed Sim: Boldstart will split $8M–$10M seed rounds for exceptional founders
“The way that we've evolved now is that sometimes I have to play ball, Harry, right? Sometimes there are some exceptional founders where, okay, you know what? I will split. An eight to ten million dollar round for that exceptional founder, depending on what tha…”
BoldStart Ventures strictly keeps seed valuation caps below $10M
“We'll just say sub 10, and it could range from much lower to, you know, upper, up on the upper range. It depends on who the founders are, what their background is, and, you know, and how much they're raising.”
Sim: Boldstart made eight net new investments in 2023 versus three in 2022
“We did eight net new investments last year, and we only did three the prior year with our largest fund yet”
Sim: Boldstart funded Snyk three times prior to its Series A
“Guy from sneak we funded him three times before he got his A round done.”
Sim: Boldstart Writes $4M-$6M Follow-On Checks for High-Executing Portfolio Companies
“When I start with a three and a half, four million dollar check, I'm writing a four to six million dollar check in the next round if the company's executed.”
Sim: 55% of Boldstart portfolio companies feature AI offerings today
“Currently in the portfolio of our companies that are running from funds four through six, 55% of our portfolio companies have an AI related offering today.”
Ed Sim raised $1M for Boldstart Fund I, making 10 seed investments
“I just took a million dollars in and made 10 investments of about a 100,000 a pop.”
Boldstart Fund I pre-money valuations never exceeded $6M in 2010
“I think in fund one, I don't think we paid higher than a five, Million dollar pre-money for any of our investments. Five or six.”
Boldstart Ventures sold four Fund I companies within two years of launch
“We built that portfolio up in 2010, and by 2012, we had sold, ah, I think four of our companies.”
Five of BoldStart's last six investments were repeat entrepreneurs
“We funded, I think the last five or six companies we funded, five of them were repeat entrepreneurs who have built, you know, and scaled companies before”
BoldStart receives 75% of its deal flow from its founder network
“I mean, I think we've tracked that about 75% of our flow comes from founders, whether they be founders that we funded before, you know, their VPs, The engineers that work there, or even, you know, from founders in our existing portfolio who are referring their…”