Dear investors,
It's been an exciting few weeks with an AI-filled YC Demo Day and many portfolio companies releasing their AI features to existing customers. While this update is a little more product-driven, I trust you'll enjoy seeing what companies are up to and how quickly they are shipping AI features to better support their customers.
Fund update:
- We have an 8x distribution coming ($800k in total) from a portfolio company that's been acquired by Patreon
- So far, we've distributed over $5M to our investors and plan to hold our positions in companies like Deel, Hex, Supabase, Hightouch, etc.
- The current value of our $12M debut fund is $54.9M. Although markups have been slower the last quarter we're in a solid position
New investments:
Modern tools for content & SEO teams founded by repeat YC founders.
Co-investors include Lachy Groom, WorkOS CEO Michael Grinich, and YC alumni.
Why I'm excited about Positional: unlike SEMRush and other tools on the market, Positional is building intuitive tools that anyone inside of a company can use (founders, first content hire, SEO teams and external agencies).
Ramp, Mux, Stytch, and many companies in our network are early customers.
An industrial ERP that's fully integrated with Oracle, SAP, IFS, and other manufacturing software tools.
Why I'm excited: Rare combination of extreme passion and excellent execution coming from this young SF based team.
They're already winning deals and competing head to head with incumbents in the industrial software space.
The products they offer today:
Lasso moves mission-critical information effortlessly between business data systems.
Lasso is used by the largest systems integrators and IT teams to automate data modeling and pipelining, from inventory to scheduling to invoices.
Stampede unifies the data left behind by all of your operations.
Dashboards, process maps, alerts, and answers on command by generative AI.
AI announcements:
- Positional released its Auto Detect tool for flagging AI-generated content at an article and sentence level.
- Equals released the first AI spreadsheet assistant: generate formulas, write SQL, summarize data, and more.
- Basedash released AI-powered dashboards directly from your database.
As always, please don't hesitate to reach out if you have any questions.
