1984 Ventures: Company Profile
Background
1984 Ventures is an early-stage venture capital firm founded in 2017 and headquartered in San Francisco, California. The firm focuses on seed and pre-seed investments, primarily in software and AI startups that aim to disrupt established industries. Inspired by Apple's 1984 Macintosh launch, 1984 Ventures believes in the potential of nimble startups to challenge industry incumbents through innovative software solutions.
Key Strategic Focus
1984 Ventures concentrates on backing founders who leverage AI to solve real-world problems across various sectors, including fintech, healthcare, SaaS, e-commerce, and consumer industries. The firm's investment strategy emphasizes:
- Seed Stage Investments: Focusing on early-stage companies where they can provide the most value.
- Founder Attributes: Seeking entrepreneurs with grit, industry insights, and a strong engineering culture.
- Investment Instruments: Utilizing SAFE (Simple Agreement for Future Equity) or equity investments, with the flexibility to lead or participate in funding rounds.
Financials and Funding
1984 Ventures has raised multiple funds since its inception:
- Fund I: Closed in November 2018 with approximately $42.3 million raised from over 50 investors.
- Fund II: Announced in March 2021, with a target size of $60 million.
- Fund III: Reported to be in the market as of March 2024.
The firm has made 121 investments across various sectors, with notable exits including Syrup Tech, CareSignal, and Bluebirds.
Pipeline Development
1984 Ventures has invested in a diverse range of companies, including:
- Cobot: A modern robotics platform for industrials.
- Posthog: An open-source product analytics tool.
- Postscript: An SMS marketing platform for e-commerce.
- Hired: A marketplace for healthcare employment.
- BuildOps: A SaaS platform for commercial service contractors.
- Syrup: A predictive analytics platform for retailers.
- Kyte: An on-demand rental car service.
- Seso: A labor marketplace for the agriculture industry.
- Fay Nutrition: A marketplace connecting consumers with nutritionists.
Technological Platform and Innovation
1984 Ventures distinguishes itself through:
- Proprietary Technologies: Investing in companies that develop innovative software solutions across various sectors.
- Scientific Methods: Emphasizing the application of AI and machine learning to solve complex industry problems.
- AI-Driven Capabilities: Focusing on startups that leverage AI to drive operational efficiency and innovation.
Leadership Team
The leadership team comprises:
- Ramy Adeeb: Managing Partner. Former CEO of Snip.it (acquired by Yahoo) and early engineer at Tellme Networks (acquired by Microsoft). Holds a BA and MS in Computer Science from Harvard and an MBA from Stanford.
- Samit Kalra: Partner focusing on SaaS and Marketplaces. Previously at AngelList and Bain Capital Ventures, with a keen interest in early-stage investments.
- Mark Percival: Partner specializing in Infrastructure and Development. Former CTO at Snip.it and early contributor to Twitter's mobile products.
- Farzad Soleimani: Partner focusing on Healthcare. Co-founder of eTherapi and former co-director of the Texas Medical Center Biodesign Innovation Program.
Competitor Profile
1984 Ventures operates in a competitive landscape with several notable firms:
- Bonfire Ventures: Focuses on seed-stage B2B software companies, managing over $1 billion in assets across four funds.
- DAG Ventures: Provides early and growth-stage funding, with a portfolio including companies like Eventbrite and Grubhub.
- Sierra Ventures: Targets startups in enterprise tech, AI, cybersecurity, and healthcare, with a CXO Advisory Board comprising over 75 Fortune 1000 executives.
- Upfront Ventures: Invests in early-stage technology companies, managing over $2 billion in total raised funds.
- Sutter Hill Ventures: One of the oldest venture capital firms, focusing on technology-based startups in networking, computer technology, and healthcare.
Strategic Collaborations and Partnerships
1984 Ventures collaborates with various advisors and venture partners to strengthen its market position and innovation capacity. Notable advisors include Andy Rachleff (Founder of Benchmark Capital), Michael Smith (Dean of the Faculty of Arts and Sciences at Harvard University), and Jim Messina (Chief of Staff for Operations under President Obama).
Operational Insights
1984 Ventures differentiates itself by:
- Non-Board Seat Policy: Preferring to remain accessible to founders without formal governance roles.
- Hands-On Support: Assisting with recruiting, fundraising, and preparing portfolio companies for successful Series A rounds.
- Founder Resources: Providing a publicly available Founders Handbook to guide entrepreneurs through various stages of startup development.
Strategic Opportunities and Future Directions
1984 Ventures aims to continue identifying and supporting innovative startups that leverage AI to transform industries. The firm's focus on early-stage investments, combined with its hands-on support approach, positions it to capitalize on emerging opportunities in sectors such as fintech, healthcare, SaaS, e-commerce, and consumer industries.
