A New Planet in the Dreamcraft Universe: Venture Partner Network!
After some spins on our DreamMachine for the past quarters, it is time to reveal a new planet in the Dreamcraft Universe.
Today, we are excited to launch the Dreamcraft Venture Partner Network!
Before we go ahead and introduce you to the very first Venture Partner, we will give you a proper introduction to what the network is all about and how it will create value. In short, the network consists of carefully selected hands-on venture engineers — people we know — that we have established solid relationships with.
Why launch a Dreamcraft Venture Partner Network?
So, Dreamcraft’s mission is to create maximum value for:
1. Limited partners (LPs) in our funds to whom we aspire to
consistently deliver the best returns within the early-stage venture
capital asset class
2. Founders and management in our portfolio companies to whom we aspire to consistently deliver the most value-adding support amongst their early-stage investors
That is why we constantly ask ourselves, LPs in our funds and portfolio companies: How might we (Yes, a HMW question!) create more value for each other?
The Venture Partner Network is one of our answers to this question! It is about creating value for our stakeholders, together with our stakeholders.
“We have just kick-started the Dreamcraft Venture Partner Network and it’s already on a good track to prove it is a win-win-win for Dreamcraft, and both our LPs and founders! We have made our first co-investment with one of our Venture Partners. The founders and Dreamcraft’s investment team really enjoyed the investment process, and the subsequent collaboration has been great!”
Carsten Salling, General Partner @ Dreamcraft Ventures.
Who are the Dreamcraft Venture Partners?
First off, we hand-pick the Venture Partners to fit our investment strategy and add additional value to our portfolio.
Among our portfolio and LP base, we have some very talented and well-connected angel investors, who we have built deep relations with over years and who are interested in deeper collaboration with each other and Dreamcraft. It is all about engagement that goes deeper than just advice.
We will explore Venture Partner roles with those who match the Dreamcraft Team on:
- Investor mindset: Hands-on venture engineers for talented founder teams of dreamers and crafters
- Portfolio construction: Fewer and deeper engagements
- Investment theses: Gaming, Esports, Web3, Metaverse, B2B SaaS, Direct-to-Consumer and/or Decarbonization (for now)
- Investment scope: Early-stage in the Nordics and Germany (for now)
- Guiding principles: Progressive, proper and down-to-earth
…and are different than the Team when it comes to:
- Operational roles: Venture Partners are part of management in a tech startup or scaleup, and potentially its (co-)founder
- Time allocation: Venture Partners invest in startups as a side-hustle
- Stealth mode: Venture Partners has easier access to stealth mode founders and angel rounds
We will launch the network with two Ventures Partners (TBA in the coming weeks!) based in Denmark and, during 2023, scale it to a maximum of ten members across the Nordics, Germany, and UK. Engagements will be related to the initial allocation period of a specific fund so typically for 2–4 years.
What will be the role and benefits of a Dreamcraft Venture Partner?
A Venture Partner will primarily support Dreamcraft’s investment team in sourcing early-stage startups, typically in stealth mode, that:
1. The Venture Partner is interested in
2. Fits Dreamcraft’s investment strategy ref. bullets above
As mentioned earlier, the Venture Partner Network is about creating value with and for our portfolio and LPs. The Venture Partners will introduce and connect founder(s) and Dreamcraft’s Investment Team. The team follows its usual investment process and if Dreamcraft ends up participating in an investment round, typically by leading or co-leading it, the Venture Partner will get a right to co-invest with us.
When we see a strong value-add fit, we take it. Here is where the Venture Partner matchmaking with the team comes to life yet again. Following the closing of the investment round, Dreamcraft’s investment team will execute its usual value-add process. If both parties and the founder(s) see a strong fit, the Venture Partner can become a member of the board of directors or advisory board.
Our Investment Team will involve Venture Partners as experts and co-investors proactively and on an ad-hoc basis. Meaning that the Venture Partners can piggyback on the process of Dreamcraft’s investment team and improve the quality of his/her due diligence and value-add advisory.
All while spending less time on it.
What is next?
Now, it is time for us to roll out the first, selected Venture Partners.
To give you a little teaser, one of the Venture Partners is a Limited Partner in Dreamcraft’s Fund II and has been a key player in the development of the Dreamcraft Venture Partner Network. Talking about players, he was the one who introduced us to and co-invested with us in, The Football Company, whose angel-turned-seed-round we led six months ago.
I was very interested in investing in The Football Company. Getting the support and validation from Dreamcraft’s investment team was critical for me ultimately participating in the round, which ended up being an actual seed round, fast- tracking TFC to the ongoing series A round. Exciting time for all of us!”
Jeffrey Haas, Venture Partner @ Dreamcraft Ventures
We look forward to introducing you to the Venture Partners and sharing much more about our network, co-investments, and learnings.
Stay tuned!
Follow Dreamcraft on LinkedIn to get the latest updates on the Venture Partner Network and look out for the Meet the Venture Partner articles.
