Hamed: Distressed CoVenture Fund I companies rebounded to nine-figure valuations
Ali Hamed · Ali Hamed – Novel Venture Investing at CoVenture, Venture is Eating the Investment World 5 (Capital Allocators, EP.233) · Jan 31, 2022 · at 50:07
Ali Hamed reflects on the messy, complex turnaround situations CoVenture took on in its first venture fund to gain entry into high-potential companies.
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“One other crazy stat about the first fund. We had multiple companies going into the deals where we had to do recapitalizations. We had multiple companies going through litigation. When we financed them, we had a company where I had to call all their payables and negotiate their payables down before financing them to make sure that they weren't insolvent. The day we funded. And by the way, these deals are now worth well in the nine figures.”
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