Kima Ventures 2016 Recap

This is an email we sent out to the Kima portfolio founders to recap 2016 and introduce the new companies in the portfolio.

Dear Kima founders,

We hope you’ve all had a happy holiday and are looking forward to what lies ahead in 2017.

As we always enjoy reading your updates, we also wanted to briefly update you on what’s been going on at Kima Ventures in 2016.

112 new seed investments

Since September 2015 (when Jean joined us and we relaunched Kima) we’ve closed 112 new seed investments that we’d like to welcome to the Kima family.

A few metrics (for 09/2015–12/2016):

  • New startups invested in: 112
  • Average amount invested per company: $145k (92 of the 112 investments were between $100k and $200k)
  • Total new investments: $16.3m
  • Source of investments: 32 accelerators/incubators, 23 other investors, 23 network and founders, 15 outbound, 14 inbound, 5 other
  • New startups evaluated in our CRM: 33,749 (including 2,020 that applied directly on the form on our website)
  • Location of new investments: 55 France, 35 USA, 10 UK, 3 Spain, 2 Belgium, 1 Czech Republic, 1 Germany, 1 Ghana, 1 India, 1 Israel, 1 Korea, 1 Russia
  • Average number of founders per company: 2.63 (5 x 1 founder, 48 x 2 founders, 44 x 3 founders, 13 x 4 founders, 2 x 5 founders)
  • B2B vs B2C: 66 B2C and 46 B2B
  • Investment type: 55 equity investments and 57 convertible note investments (24 SAFEs, 20 custom notes, 9 AIRs and 4 KISSes)
  • Currency of investment: 58 EUR, 46 USD, 8 GBP
  • Average round size participated in: $1.2m (min $150k, max $7m)
  • Average pre-money equity valuation: $5.5m (min $0.9m, max $26m)
  • Average convertible note cap: $6.6m (min $1.3m, max $27m)
  • Average dilution of the total round: 16.7% (min 1.1%, max 36%)
  • Kima’s average stake after round: 2.98% (min 0.4%, max 11%)

Any other metrics you’re interested in? Just let us know.

Investment focus; Seed and Series A

Our investment focus is as broad as ever, investing $100k to $200k per company, from seed to Series A, anywhere in the world. We continue to look for the best technology founders regardless of the sector or geography they are in. In the past we’ve avoided capital intensive sectors like biotech, cleantech and medtech but we’ve even made one investment in each this year.

Some of the best founders we’ve backed have been introduced to us by other founders so, we’re always happy to take a look at any startups that you recommend who are looking for funding; feel free to email anyone on our team directly or point them towards our website.

Notable portfolio events in 2016

The Kima portfolio now consists of 480 startups in 30 different countries so there’s far too much news to share but here’s a few notable exits and new funding rounds reported in 2016:

Exits were announced (and a few more we can’t talk about yet) like PredictionIO joined Salesforce, Captain Train joined Trainline, Poetica joined Conde Nast, Placemeter joined Netgear, LaunchKey joined iovation and Fanbread joined RockYou.

New large funding rounds were also reported, including; Bluevine raised $49m, Formlabs raised $35m, Leanplum ($29m), Transferwise ($26m), ZooZ ($24m), Zenly ($22.5m), PromisePay ($10m), StarOfService ($10m), Front ($10m), Aircall ($8m), Festicket ($6.3m), Payfit ($5.6m), ABTasty (€5m), Suiteness ($5m) and Tribe ($3m).

Other Kima news you might have missed

  • in February, we launched Kima Status allowing any startup that applies for funding to track where they are in our pipeline in real-time;
  • in May, we welcomed Alexis and Rose to the team. We’d also like to thank Rodrigo who helped set up Kima Forward and Eléonore who joined us in September, evaluating new companies and supporting the portfolio;
  • in June, we launched a beta version of our new portfolio platform, Kima Forward, with a few of the new portfolio companies, we plan to roll this out to more of the portfolio soon;
  • in August, we announced we were closing the separate “Kima15” offer, the reasons and lessons learnt were discussed here;
  • in September, we launched, free portfolio relationship software for investors;
  • throughout the year, founders of Zenchef, Agricool and Save shared their experiences scaling their businesses.

Looking forward to 2017

  • with the larger team and even more software, we’ll continue to make 2–3 new investments per week;
  • we’ll continue to build out tools to better support the existing portfolio of companies; including rolling out Kima Forward to the rest of the portfolio and working on more and better ways to connect the Kima founders;
  • we are launching Kima Circle, a peer-to-peer board meeting where portfolio companies of the same sector will be able to discuss their day-to-day challenges and share their best tips with peers. Special guests will lead workshops and share their expertise on specific matters. The first edition will take place in a few weeks in Paris;
  • we’ll be sharing more learnings from the Kima team and portfolio founders. Jean has just published his series of onboarding guides here;
  • we’ll be working on better ways to support you in fundraising and to allow you to leverage our investor networks to connect with upstream investors;
  • in April, we’ll be moving in to Station F in Paris, the world’s biggest startup campus, also backed by our founder Xavier Niel. Anyone looking for office space in Paris, please feel free to come visit.

As always, please do reach out if you have any questions or there’s anything that we can help with and we look forward to your updates in 2017.

Thanks and kind regards,

Kima Ventures team

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