Impossible Objects today announced it raised a $6.4 million Series A investment round led by OCA Ventures and with participation from IDEA Fund Partners, a technology-focused early stage venture capital firm, Mason Avenue Investments, Huizenga Capital Management, and Inflection Equity Partners. With this latest round, Impossible Objects has raised a total of more than $9 million.
HQ Charlotte at Packard Place was buzzing with entrepreneurs early Wednesday morning.
The Raleigh-based coworking company hosts an event called PitchBreakfast every second Wednesday of the month to give local entrepreneurs an opportunity to practice their pitch to a panel of investors.
Among the panelists this week were Chris Halligan, operating partner of IDEA Fund Partners and COO of Payzer; Seth Twery, founder and CEO of Teton Ventures and limited partner of IDEA Fund Partners; and Greg Brown, owner of Cardinal Finance and Charlotte Angel Fund’s administrator.
The event followed the IDEA Fund format where companies present without slides for two minutes and then receive 15 minutes of feedback from the panelists. React Innovations, Fridge Coaster and CounteractIO were the three companies that presented Wednesday.
Although startups based in California, New York, and Massachusetts have traditionally accounted for the majority of VC tech investment activity in the United States, VCs are spurring other hotbeds of innovation across the country.
With this in mind, we used CB Insights data to analyze the most active venture capital firm, by the number of investments into tech startups, in each US state from 2012 to 2017 year-to-date (through 5/17/17).
A recent report from Pitchbook identifies the Triangle as one of the most successful regions in the country for venture capital exits, as measure by multiple on invested capital (MOIC).
Raleigh-Durham ranked highly in terms of average MOIC, joining Washington DC, Los Angeles, the San Francisco Bay Area and Chucaho for the top 5 spots on the list. On average, successfully exited venture capital investments in the Triangle returned 8 times an investor’s money.
Read the full story from Pitchbook
IDEA Fund Partners was recently named the most active venture capital firm in North Carolina, in a list of the country’s most active VC firms released today by CB Insights.
The top VC firm in each state was determined by the total number of investments made in unique tech companies, excluding debt deals and follow-on financings. IDEA Fund Partners was named among other prominent firms such as Colorado’s Foundry Group, Maryland’s New Enterprise Associates, South Dakota’s Bessemer Venture Partners, and Georgia’s BIP Capital.
Read the full story from CB Insights
Any budding entrepreneur should attend IDEA Pitch, EvitEvent’s Laura Baverman reports.
IDEA Fund Partners’ IDEA Pitch is a bimonthly event wherein entrepreneurs pitch their ideas to the firm’s managing partners and a special guest in 2 minutes and then receive feedback on their pitch. The last event, held in April, occurred at Bunker Labs and featured the NC IDEA Foundation’s new CEO, Thom Ruhe.
“The men represent important funding sources in the area. They are also brutally honest, but in an unintimidating, helpful way,” she writes. “There may not be an event as constructive as IDEA Pitch.”
Founded in 2007, IDEA Fund Partners has invested in 27 companies and become one of the most active seed and early stage venture capital firms in the Southeast. They are currently investing out of a $15.1 million IDEA Fund II. Some notable portfolio companies include names such as WedPics, Windsor Circle, Reveal Mobile, Pendo, FilterEasy and Sift.
Read the full story from ExitEvent
Last Thursday, eleven startups pitched their businesses to investors and tech executives in the San Antonio technology world. The event came after each company’s completion of an accelerator program put on by TechStars called TechStars Cloud. The accelerator offers a variety of resources in exchange for 6% ownership of the company.
Among the businesses competing were companies offering secure, encrypted email, companies offering intelligent data analytics, and companies redefining how we search for images online.
Read the full story from Xconomy
First is a Durham-based company that is developing a predictive analytics platform to automate the generation and distribution of timely leads based on life-event triggers. First is able to predict when and why people are likely to move, enabling real estate professionals to reach future clients at the right time. Their unique approach combines the benefits of human judgment with the scalability of automation. Read more about the financing and the founders’ back story.
Read the full article from ExitEvent
ChannelAdvisor Co-founder & Executive Chairman, Scot Wingo, recently compiled his list of Triangle “Tweeners.” Wingo defines these as ‘post early stage’ companies with $1-50M in revenue and headcount of 10-500. The goal of his list is to provide a resource for inbound tech executives to consider joining. Among the list of Triangle “Tweeners” are IDEA Fund Partners portfolio companies Axial Exchange, Pendo, WedPics and Windsor Circle, as well as recently acquired Automated Insights.
Read the full article from ExitEvent
When Steve Case came to Durham at the beginning of this month, he said Durham’s “momentum seems to be building over the years… There’s a sense of possibility here that did not exist when I visited five years ago.” He made the point that many West Coast investors are not interested in a company if they are unable to drive to it, but now Durham is giving them a reason to look beyond Silicon Valley for opportunities.
Read the full article from The Herald Sun