The seed investors Version One have recently announced the closure of two new funds: Fund IV ($70M) and Opportunities Fund II ($30M). The company has accelerated business opportunities for ten years now. With investments over $100 million in the three early-stage funds, the company garnered 73 portfolio companies. Four of the portfolio companies acquired the unicorn status in 2020 including, Clio, Wattpad, Top Hat, and Coinbase.
The company aims to invest in various portfolio companies by supporting them in the early and pre-seed stage as it is the most crucial period of any company.
The previous year has been successful for the seed investor; therefore, it unveiled a handsome share of capital. The Series D investment round in 2017 in Coinbase, the portfolio company which has recently gone public through a direct listing, was a milestone for the seed investor. The Vancouver-based seed venture capital firm reached a milestone success with 25 times higher returns in the IPO.
The company invested US$2-million in the San Francisco-based cryptocurrency trading platform in two private funding rounds in 2017 and 2018, with nearly 151,000 shares. It made whopping returns on investment after Coinbase’s shares soared at US$328 apiece in the IPO, pushing its valuation to $85-billion. Version One reaped nearly US$50-million shares.
The financier mentioned on their website that the firm would continue to invest in mission-driven startups in crypto, climate SaaS, marketplaces, and healthcare. A thrived valuation occurred in Ada with a $1.2 billion valuation in May; Dapper Labs, with a $7.5 billion valuation after the NFT wave, boosted the investment company.
The founder Boris Wertz, an entrepreneur, started the German company Just Books, which Amazon.com later acquired in 2008; the event spurred the idea of transitioning to an investor.
Version One Ventures totaled in funds worth $131.1M through 5 funds; it raised the Opportunity Fund for the first time worth $25 million in 2020.
As per a report, the limited partners in the new funds include the fund three investors; HarbourVest Partners, Northleaf Capital Partners, Kensington Capital Partners, and Invesco, and others. Version One is one of the booming Canadian venture firms bracing opportunity funds endeavors. Similarly, the Montréal-based venture capital firm Diagram Ventures recently raised $120 million for its opportunity fund.