How large is Felicis Ventures’ asset base?
Felicis Ventures has over $430M in total committed assets: $4.5M angel fund in 2006, $41M super-angel fund raised in 2010, $71M boutique VC fund raised in 2012, $120M fund raised in 2014 and a $200M fund in 2016.
How much do you invest?
Our investments range from $250K to $10M per each round in a company. Our main objective is to have a meaningful (for us) participation in the syndicate while never letting investment size be an issue that stands between us and an iconic company.
Our collaborative approach puts the founders first. We genuinely care about the perfect investor syndicate for the company which drives us to keep our fund sizes conservative and our investment range flexible.
We try to provide the best help and support to our portfolio companies regardless of investment size. Our focus is always on quality rather than quantity, striving to be the first call for our founders when needed, addressing any area that’s critical to them.
Are you only a seed/early stage fund?
Our key focus is to make sure we partner with the best founders and companies in our areas of focus. We are stage agnostic. Our strategy is to get involved when there is still significant growth potential ahead and we could be a great partner to achieve that.
As such, 33% of our investments were made at a time when the company was in pre-revenue stage, 33% in the early revenue stage and 34% in the revenue growth stage.
What is your investment strategy?
Our goal is to back the iconic technology companies of today and tomorrow. To do so, we look to partner with the best companies and founders in our key focus areas, irrespective of stage, location, and in most cases valuation.
Our 5 principal focus areas are: mobile, e-commerce, consumer enterprise, education and health. We aim to complement those core themes of conviction with exploratory bets in new groundbreaking technologies (AI/3D imaging, bio-informatics, connected devices and robotics).
By investing in themes of conviction we create a virtuous cycle: the clusters of world’s best companies in a given focus area allow us to have more relevant and recent knowledge to propagate amongst our companies (which in turn makes us smarter when it comes to expanding our portfolio).
Do you only invest in companies based in the United States?
We believe in backing iconic founders regardless of their location, including places outside of the United States. We’re proud of the fact that our portfolio founders originate from well over 30 different countries across a multitude of continents. We have invested in companies with operations in 13 countries including Brazil, Canada, Estonia, Finland, Germany, Israel, Netherlands, Turkey, UK and the US.
Since every member of our team is multi-lingual and most hail from international backgrounds, we not only appreciate the nuances of investing globally but also embody an immigrant work ethic ourselves.
Our international investments usually coincide with syndicates that include a strong local partner.