How large is Felicis Ventures’ asset base?
Felicis Ventures has over $2B+ 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, $200M fund in 2016, $302M fund in 2018, $510M in 2020, and a $900M fund in 2021.
How much do you invest?
Given we invest in seed through Series C, our investments can range from $1M to over $50M+. Our main objective is to have meaningful 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?
We aim to partner with the best founders and companies in our thematic areas, regardless of stage. We can invest in anywhere from seed through Series C. Our strategy is to get involved when there is still significant growth potential ahead and we could be a great partner to achieve that.
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.
We invest in founders aiming to reinvent critical markets such as mental health and insurance, as well as open up frontier markets such as longevity and engineered foods.
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 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 40+ different countries across a multitude of continents. We have invested in companies with operations all over the world including Armenia, Australia, Brazil, Bulgaria, Canada, Czech Republic, Estonia, Finland, Germany, Hong Kong, Israel, Mexico, Netherlands, Philippines, Turkey, and the US. Outside the US, we look for businesses with the potential to be global winners like Shopify and Adyen.
Since many members of our team are multi-lingual and hail from international backgrounds, we not only appreciate the nuances of investing globally but also embody an immigrant work ethic ourselves.