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If this is your first time getting our update, welcome to the fam! VSC Ventures is built on the core thesis that it has gotten easier than ever before to start a startup, but harder than ever before for that company to get noticed. We're building a one-of-a-kind fund to invest in early stage startups AND help them break out!
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Thanks to your support and commitments, we closed an oversubscribed Fund I, despite 2022 being the toughest market tech has seen in many decades! Few reasons why this is the best time to close our fund:
- We're entering one of the best times to invest in early-stage companies, in possibly a generation
- We have 90% of our fund left to invest and we'll be able to invest at lower valuations than 2021
- We maintained price discipline throughout 2021 even in our 10% that was deployed. A majority of our deals were done at under $20M valuation.
- This was done in contrast to many similar-sized funds in our vintage that lost all price sensitivity and aggressively deployed in overpriced rounds over the last two years. They'll likely face dark times ahead.
One Request: Please don't share this news on social media just yet. We plan to announce the end of the summer alongside some strategic initiatives.
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NeuraLight, our neurology AI investment announced a $25M raise, led by KDT, to accelerate team growth as well as infrastructure and product development.
Neuralight has begun studies to create an agent to detect ALS with more trials and partnerships underway for identifying key markers of Parkinson’s, MS, and Alzheimer’s. We invested in Neuralight's Seed round in June 2021, and this new raise represents our first marked-up investment out of our Fund I.
CEO Micha Breakstone (who sold his last company Chorus AI for $575M) in our experience, is one of the best founders we have worked with and we're excited to grow with him.
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Goodcall, our conversational AI for SMBs, announced a major partnership with top website builder Wix to deploy a 24/7 phone assistant tool that will help Wix users manage call volumes & improve customer service.
Data says a small business with less than ten people misses over 60% of inbound calls. As CEO Bob Summers explains: "We give short-staffed businesses a way to take advantage of all the inbound opportunities"
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OUR LATEST ANNOUNCED INVESTMENT
Each update, we'll share information about our newest investments For our LPs, we'll follow up with more detail about updated marks & material updates in VSC portfolio positions as we have them.
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Enara — "Empower Physians to cure America's Obesity Epidemic"
Highlights on our Latest Investment: Enara
- Enara is a digital health obesity care platform that enables Primary Care Physicians (PCPs) and Cardiologists to deploy and deliver integrated care for obesity and other chronic care conditions
- As a result of two of the co-founders being experienced board-certified obesity doctors, one of Enara’s main advantages is their ability to get almost all major insurance providers to reimburse these treatments, keeping costs down for prospective patients
- We love Enara's clarity of purpose in the customer are serving. While the end-user may be the patient, Enara focused the past 2 years on building a best-in-class platform for care providers like PCPs and Cardiologists to make it seamless to integrate Enara as an add-on to their clinics and practices.
- Since closing this $6M Seed round, Enara has already launched with a major care provider in Minnesota and a new partnership with Phoenix Heartcardiology group with 15K to 20K patients under their care
- Enara's founders spent years validating their doctor-in-the-loop model and have proven best-in-class sustained weight loss results. Enara patients have lost a combined 80,000 lbs and Enara has helped patients lose 30 lbs on average, compared to 15-20 lbs from competitors
- VSC Ventures was brought into the round by co-investor (and LP) Rajil Kapoor who also invested, alongside lead investor Offline Ventures (Nate Bosshard), Crossover Ventures & Continuum Health among notable health and wellness angels
Axios' feature on Enara is linked here (with a nice VSC Ventures shoutout). You can also read our blog post sharing more about why we are so excited to back Rami, Lydia, Felipe, and the Enara Team
For VSC Ventures LPs Only: We have a detailed written deal memo available upon request
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SOME PERSONAL NEWS
On May 30th, 2022, our very own Jay Kapoor married his wife Prerna Singh in a traditional North Indian / Hindu ceremony on Seven Mile Beach in Grand Cayman. Vijay Chattha as well as some family & friends-turned-LPs were in attendance to bless and celebrate with the happy couple!
   
 
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Thank you so much for reading our latest update from VSC Ventures Fund I. We're in the early days of our long and healthy partnership with all of you, so please reach out to us with additional questions on anything above. Thank you again for your support for our vision and our fund!
Best,
Vijay Chattha & Jay Kapoor
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