As the year comes to a close, we wanted to look back on some of the highlights from a turbulent twelve months. As we reflect on 2023 and plan for the year ahead, we are grateful to be able to continue partnering with promising entrepreneurs in the earliest stages of their journeys as they set out to build the great companies of tomorrow.
SaaS Ventures Eclipses 100 Portfolio Companies
Early stage funding markets were a rollercoaster in 2023 as the slowdown that began in later-stage venture crept into early-stage markets. On top of that, the year brought bank failures, substantial slowdowns in many funds' investment paces, and valuation resets.
Despite it all, our early-stage fund made 16 new investments this year (7 still in stealth or unannounced). Separately, sixteen existing portfolio companies completed follow-on rounds, representing over $150 million in fresh capital.
Announcing SaaS Ventures Growth!
We also added a new fund and strategy to the SaaS Ventures umbrella this year. SaaS Growth had its first close in June 2023.
SaaS Growth co-invests in Series B - D rounds for global software companies whose rounds are being led by our pre-approved list of top-tier leads. We primarily do so by providing capital to VC partners to fill their pro rata rights, through which we assume the downside risk and share the wealth! SaaS Growth can also invest directly and buy secondary shares.
Please reach out to firstname.lastname@example.org to learn more.
Metrics and Moments Worth Remembering
In February, the SaaS team came together to host our first ever Founders' Summit. The overwhelming positive response will make it a mainstay for years to come!
Throughout the year, SaaS hosted events in Miami, Los Angeles (shown above), New York, and elsewhere. We love watching our founders, like Cullen Gallagher of Lunch (middle, with microphone), put on a show!
Beyond that, team offsites in Chicago, Dallas, and at the Iowa State Fair brought us closer together and leave us energized for a new year and new fund.
We wish you all a wonderful holiday season, and look forward to connecting again in 2024!
- The SaaS Ventures Team