Breaking Barriers of VC, EDITION 4

Author

Laurent Span
July 13, 2024

Welcome to Breaking Barriers of VC, EDITION 4.

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Happy post-Fourth of July (I know I’m late)! As we find ourselves in the “dog days” of summer, we look ahead to the next big holiday (Labor Day) that will mark the end of the summer (crazy because it still feels like Memorial Day Weekend just passed).

Two weeks ago, I traveled to Miami for one of my best friend's birthdays (love you, bro). While there, I also had the opportunity to meet with some Miami-based VCs and host a BBVC event alongside Natalie and Connor of Rella. We had an excellent turnout of about 30 individuals for our intimate Monday morning coffee meet-up. The Miami ecosystem is vibrant, and BBVC is committed to fostering relationships with local VCs and partners to expand our events within the community. I'm very excited about the future of building and investing in the 305.

BBVC Takes Miami - Brickell

Myself, Natalie and Connor (Team Rella)

It is awesome to witness the steady growth of our network, and community.

Check out our next few events:

Upcoming Events for Breaking Barriers of VC:

1) July 11th, BBVC presents, "An Agave Affair" For VCs and LPs (NYC) (check out the LinkedIn post) 

2) July 16th, BBVC presents, "Let's Break Bread" for VCs / LPs

2) July 18th, BBVC presents, "What's up with AI" (NYC) - our staple panel series hosted in Hudson Yards (will be live-streamed). We are looking for a last-minute sponsor here, if interested, please reach out.

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We have a new website! Shout out to SkyStreet Media and Kristopher Madu for the help in redesigning our website, it looks fantastic, so be sure to check it out. www.spanvc.com 

Unique Startups via SPANVentures.

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  1. Rella

    1. Rella simplifies collaboration and content management for creators and social media teams, allowing them to share and upload content with the people who need to see it.

      Instead of creators and social media teams wasting time keeping track of projects, organizing and sharing content, posting across all platforms, and tracking down approvals - you can use Rella instead.

      Rella is built by a creator, Natalie Barbu. She has been a creator for 13 years, was able to quit her job at Accenture after making double her salary on social media, and started an agency where she worked with brands and creators on their social strategy. In addition to herself, she has 2 cofounders who have been software engineers for the past 6 years.

      Rella users have shared over 100,000 pieces of content and they recently launched paid subscriptions in October generating $62K+ in ARR with $0 spent in marketing.

  2. Homebase

    1. Homebase is a back office software for real estate syndicators to automate deal administration and fundraising. Their platform empowers real estate syndicators and private equity to raise more capital and close deals faster through back office automations, native CRM integrations and a best-in-class UX. Their team is comprised of ex-Google and ex-Amazon founders with experience building software together and syndicating multiple real estate deals in 2023.

      In the last 2 months they:

      • Launched their MVP

      • Secured three paying customer and three additional LOIs

      • Accumulated $145M AUM in qualified leads in their pipeline

      They recently began raising their pre-seed round and already have 25% committed with funds like Global Millennial Capital and Octavia Investments as well as some of their early customers participating.

  3. Artem Fragrances

    1. Is a fragrance house that tells culturally relevant stories through scent. Using exceptional raw materials with no budget limit, prioritizing meaningful works of art through scent. Artem goes up against the best of the best fragrance houses such as Byredo, Le Labo, Maison Francis Kurkdjian, Creed, and more. Founded in 2023, Artem is now post-product, within the retailer Osswald, and through the use of a strategic advisor, they are targeting retail distribution within Saks Fifth Avenue, Bloomingdales, and others in 2024. 

      Artem is comprised of a seasoned team with over 40 years of experience in the luxury fragrance market. The founders spent their careers building systems and driving revenue for some of the most notable brands in the luxury fragrance market (e.g. House of Creed Fragrances, Guerlain, Byredo, Frederic Malle, Tom Ford, LVMH, Saks Fifth Avenue, and The Neiman Marcus Group).

  4. Parrot Finance

    1. Parrot is a social investing platform where users can follow and mimic the verified investment strategies of vetted creators and traders, leveling the playing field and empowering everyone to make informed investment decisions. Users can also mimic trades from over 200 portfolios of top politicians like Nancy Pelosi and CEO’s like Elon Musk, Mark Zuckerberg and Warren Buffet. 

      We've partnered with brokers like Robinhood, Charles Schwab, Fidelity, WeBull and many more to promote a secure, social and transparent investing experience for all stages of investors.

      The founding team has a background in finance, engineering and operations from companies like KKR, McKinsey, Goldman Sachs, Coinbase and The White House, and have raised around $2M to date from investors such as Techstars, Western Union, Lightspeed, Harlem Capital, Hustle Fund, Plug and Play, Litquidity, early investors of Robinhood, and more.

  5. Flora (CLOSES IN 3 WEEKS)

    1. At Flora, we have identified a significant gap: 60-80% of people still have no fertility coverage through their work or health plans, and generally use costly financing or expensive money-back guarantees to secure treatment. The biggest gaps are contract workers and SMB employees. We are changing the way fertility treatment is funded by creating the first individually-owned insurance solution for the next generation of parents. We make it easy and affordable for women and families to fund future treatment, providing the dollars and community to access the care they need. Our distribution partners include women's health apps, SMB employers, and embedded distribution partners reaching 10M+ future moms across the U.S. and Canada.

Open-Ended Thought Dive: Is Everyone Becoming Their Own Boss?

Lately, I’ve been thinking about how a majority of individuals who are Gen-Z or millennials want to be their own boss. Our generation, candidly, would prefer to do anything else than work for someone else, even though most of us still do.

American entrepreneurship is on the rise. Since 2021, applications for new businesses have surged across the country. The percentage of self-employed Americans has increased from 7% to 9%, with most new employers being startups (Washington Post, & Babson College Entrepreneurship Report). Furthermore, since 2023, nearly 19% of adults have started a business or are in the process of doing so.

This brings me to a thought-provoking question: with all the risks associated with being an entrepreneur, why do so many choose this path over traditional career avenues? What drives the modern-day individual to trade a structured 40-hour work week with benefits for a less structured, highly volatile source of income? Is it passion? Is it the prospect of future generational wealth, or is it the pursuit of freedom?

The answer is likely a combination of these factors, varying from person to person. Passion plays a significant role, as many entrepreneurs are driven by a deep desire to work on something they truly care about. They seek to create, innovate, and leave a mark on the world through their ventures.

The prospect of future generational wealth is another compelling motivator. Entrepreneurship offers the potential for uncapped income and an opportunity to create generational wealth to secure one’s family for generations.

Then there is the aspect of freedom. The autonomy to make decisions set your own schedule, and work on your own terms is incredibly appealing. For many, the traditional employment model feels restrictive, and the allure of being your own boss is too strong to ignore.

It's always interesting to dive into a deep conversation with a group of like-minded individuals discussing the pros and cons of each perspective and path. These discussions often reveal that the decision to pursue entrepreneurship is influenced by a blend of personal values, goals, and aspirations. Some might prioritize creative freedom and personal fulfillment, while others are driven by financial goals and the desire to build a lasting legacy.

Thoughts?

COMMUNITY ASK:

  • If you know of any partners available to sponsor events, let me know. I am paying a generous referral fee!

  • I want to bring BBVC to other cities across the country, if you have a suggestion, let me know.

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