2022 Reflections and Lessons Learned
The Year In Review
Here at Vestigo, the gift of feedback is deeply embedded in our culture. We love to solicit feedback and gift others with feedback for the good of all. Throughout each year, we make it a point to create opportunities to exchange feedback and engage with our wonderful LPs, founders and friends. Naturally, with feedback comes reflection. So, let's reflect on the year of 2022.
Despite economic, geo-political and pandemic related headwinds, we've had a productive year. We've added 6 new investments to our second fund and now have filled 11 out of 20 positions in the portfolio. We've grown our team and promoted within. We've also hosted and attended many events where we were able to deepen our relationships, expand our network and continue to learn about innovative solutions in the exciting world of FinTech. To view a full list of our current portfolio companies along with their descriptions, see here.
While we continue the search for the remaining investment positions in Fund II, we are always focused on being a value-add investor to our new and existing portfolio companies. Given we like to enter investments at the early-stage, our founders are typically refining their focus and sales strategies to achieve meaningful product market fit evidenced through revenue recognition as well as ongoing customer surveying. Just like we love the gift of feedback, our founders share that core value. We use our network and data as a resource to our founders to support them in everything from brainstorming, sales, hiring, marketing, strategic partnerships, all the way through execution.
As always, culture remains at the center of our thinking. In 2022, we refined our culture manifesto as well as thoughtfully and deliberately identified each team member's strengths and desired learnings to maximize on our collective plan of action. We are thrilled to be in this new year full of potential, innovation, new thought leaders and good ol' lessons to be learned!
- Mark & Dave
Vestigo Ventures
2022 FinTech Year In Review
2022 Highlights
Fund II
- In February, we announced an oversubscribed closing of Fund II at $117.3M, nearly 2x the size of Fund I.
- We continue to invest along our thesis focused on AI and machine learning technologies serving the Fintech ecosystem.
2022 Portfolio Activity
- +2 Acquisitions (Fund I)
- +6 New Fund II Investments - Advocate, Aeqium, Climate Club, Cork, Knowbl, SaaSWorks; see company descriptions below
New Hire
- Baheejah "Bee" Crumbley
Investment Associate
Team Promotions
- William "Bill" McCarran
Chief Operating Officer - Frazer Anderson
Principal - Nick Kim
Investment Associate
Team Celebrations
Please join us in congratulating:
- Frazer and Emma Anderson on their wedding
- Bill McCarran and Julia on their engagement
- Kelly Shaw and Giuseppe on their engagement
We are delighted to celebrate our team members on their joyous journeys ahead!
New Investments
Advocate
Advocate is a technology enabled provider of insurance compliance services and insurance risk management for lenders and asset managers. Advocate's digital/ML optimized team assesses the suitability of a transaction with its insurance component to ensure compliance and appropriate risk management.
Aeqium
Aeqium is an enterprise SAAS tool that plays at the intersection of finance (budgeting, planning) and HR (compensation and headcount management), enabling collaboration across Finance, HR, and Functional Managers as it relates to compensation planning and management.
Climate Club
Climate Club embeds sustainability into the employee experience at leading companies to drive measurement, insights, and reductions in Net Zero emissions across every department, team and employee. The company’s software platform is purpose-built to reduce carbon emissions, save costs, and retain talent in alignment with Net Zero targets and strategic business goals.
Cork
From the startup studio of VVFII investment, DVx Ventures, Cork is a cyber warranty/insurance platform designed to fix the fast-growing, persistently broken cyber risk market. Using an outside-in approach, Cork will embed and integrate with MSPs to help them offer cyber coverage and remediation to their customers.
Knowbl
Knowbl provides every business the ability to quickly create conversational AI solutions that can be deployed across any digital user interface, including but not limited to search, chat, voice and agent assist. The Knowbl Platform takes your existing content, structured and unstructured, and automatically conversationalizes it so that your employees and customers can get the information they ask for on demand.
SaaSWorks
SaaSWorks is a revenue operations and customer success solution for scaling subscription businesses. SaaSWorks developed a scalable software solution that manages revenue data, from cleaning and enriching to developing and monitoring company-specific KPIs to produce actionable insights for any subscription business.
Usheer Naik | VP of Finance | Tealbook
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