Category: Announcements

23
Sep

Welcome to the team Zander!

Brian and I are excited to welcome Zander Farkas to the TVP family as a Principal. He comes to us by way of Bain & Company, four years with our friends at Greycroft Partners and most recently Wharton, where he earned his MBA degree. Zander has built a name for himself in the New York tech world – as we got to know him, we couldn’t help but bump into people who called him a friend. He’s sourced some great companies and worked alongside a number of talented entrepreneurs.

Zander’s style is an easy fit around here, and like us, he isn’t afraid to roll up his sleeves to work in service of entrepreneurs. We’re excited about building our team (send Associate candidates our way), as we continue our mission to invest in and support the best tech companies in New York and beyond. Please join us in welcoming Zander.

21
Sep

We are hiring

Tribeca Venture Partners is hiring a full-time Associate to join our early stage venture firm in New York, NY. You will be responsible for:

Supporting our investment process including:
a. Market research
b. Identifying top early-stage investment prospects
c. Modeling financials and cap tables
d. Internal investment memo documentation
e. Due diligence and analysis
f. Term sheet generation

You will be a full member of our investment team. You will attend partnership meetings and be counted on to provide insights and feedback as we meet new companies. The role is meant to be a 2-3 year program with potential future opportunities for exceptional performers.

The most important qualifications for this role are:
• A track record that demonstrates exceptional persistence, resourcefulness, and leadership in previous endeavors
• A strong network in, and understanding of, the New York tech startup ecosystem
• Extremely strong communication and relationship-building skills

Other important qualifications include:
• An outstanding academic track record
• 2-5 years of work experience ideally in a startup, consulting firm, investment bank or other venture firm
• Plugged into and knowledgeable about the NYC tech ecosystem
• Exceptional analytical and critical thinking skills
• Proven ability to self-motivate and direct your own work
• Demonstrated passion for technology and innovation

Extra consideration to candidates who:
• Have a CS background
• Blog actively about technology and startups
• Have a practical knowledge of online marketing, user engagement and funnel analytics

To apply, please email a copy of your resume to admin@tribecavp.com. Better yet, get a warm introduction to someone on our team.

Instead of a cover letter, please answer any 4 of the 5 questions below (150 word max for each):
1. What are the 1-2 achievements you are most proud of?
2. Tell us about something you believe is true that nobody else agrees with.
3. If you were seeking to identify and connect with the top startup companies in the NYC area what would you do and whom would you call?
4. What is the one early stage startup in NYC we probably don’t know about but should consider investing in? Sell us on this opportunity.
5. What is one startup that most people think is a great business but you’re skeptical about? Why?

There is no deadline to apply – we will be evaluating applications as they are submitted. Please submit only your resume and concise answers to the above questions.

26
Feb

Announcing Tribeca Venture Partners Fund II

We’re thrilled to announce the close of our newest fund, cleverly named Tribeca Venture Partners II. We set out to raise $100M and were fortunate to be oversubscribed with a final close of $107M, a sizable increase over our $65M first fund. We are incredibly thankful that all of our institutional limited partners recommitted to our new fund. They’ve been joined by a fantastic group of new limited partners that also believe in our mission to build a leading NYC-focused early-stage venture fund.

We certainly wouldn’t be here without the unbelievable performance and support of the entrepreneurs we partnered with in our first fund. In a broader sense, TVP II is not about us, it’s about the incredible growth and vitality of the NYC tech ecosystem as a whole. When we launched TVP in 2011 there was real skepticism that an early-stage fund of meaningful scale could be successful focusing only on NYC. We disagreed and set out to prove it. So far so good…

Of the 25 companies in TVP I, 21 are based in NYC with others having a NYC presence. Most of the companies had 10 people or less when we backed them. Fast forward 4 years and they’ve collectively raised close to $1B of funding, employ thousands of people and generate hundreds of millions of dollars of revenue. Companies like Appnexus, ShopKeep, CommonBond, BetterCloud and Maxwell Health to name a few are emerging as true market leaders. And we’re just as excited by the early progress of some of our more recent NYC investments including Cognical, Mighty, Backtrace, AiCure and PebblePost.

One of the key drivers of our strategy is a set of values we established back in 2011 when starting our firm:

• Who are we: Entrepreneurs, Honest, Ethical, Direct, Humble, Hard-working, Accountable, Transparent and Pragmatic

• What are we not: Arrogant, Political, Rash, Emotional

We seek and have been lucky enough to back entrepreneurs that share these values. Having shared values allows us to work best to serve entrepreneurs in advancing their unique and special visions for the future. In a nutshell that’s why we love what we do. We get to work each day with people we respect and admire. Along the way we hope we can share what we’ve learned over the years to help founders achieve their goals.

So now with a larger fund to support the NYC tech community what kind of companies are we looking for? More of the same. We’ll back consumer and enterprise businesses. We prefer not to rigidly define target sectors as really big winners tend to create their own sectors. Our favorite “sector” is a tight founding team applying technology to the confluence of macro tends and underlying tech curves to create or disrupt a huge market. If you’re starting a company that fits in this box, or know someone who is, give us a call.

Thanks again to everyone that’s helped us make our vision a reality.

Brian & Chip

20
Mar

AppNexus Acquires Yieldex

By Chip Meakem

Congrats to AppNexus on an incredible run. In the past six months the team has closed $100M+ with a world class public/private crossover lead plus strategics, acquired Xaxis For Publishers and signed a deeper strategic agreement with Xaxis and WPP, acquired cross device ID company MediaGlu and yesterday announced the acquisition of Yieldex as a key part of their full-stack publisher offering. And by the way, they’ve been profitable with huge growth for three straight quarters. Here’s a cool video about the Yieldex deal:

I remember sitting down with Brian O’Kelley back in 2008. He dismounted his skateboard, strolled to our outdoor table at Coffee Shop and proceeded to succinctly describe his vision for a new buy/sell paradigm in digital advertising and the infrastructure stack needed to support it. Fast forward to today and it is simply remarkable how close reality is to that vision. That said, vision isn’t worth much without execution and in the last six months the AppNexus team has just flat-out killed it.

From TVP to all AppNexians, thanks for the hard work!!!

08
Dec

Maxwell Health Raises $26.4M Series B Round

By Chip Meakem

Congratulations to the Maxwell Health team on the $26.4M Series B they just closed with a great group of strategic and VC investors.

A little more than a year ago Veer and Vinay Gidwaney, the founding brothers of Maxwell Health, came to us with a vision to automate and simplify the selection, enrollment and management of employee health care and benefits for businesses…and they have just killed it. Seeing the mystical “hockey stick” actually happen might just be the best part of being an early-stage investor and this stick is big and steep. Congrats again!!!

24
Sep

Announcing Our Investment in Backtrace I/O

By Chip Meakem

We are pleased to announce our latest investment: Backtrace I/O. This one was kind of a no-brainer. I got an email from our LP and advisor Brian O’Kelley a few months back that said something like “Bad news, we are losing two of our top engineers. Good news, they’re starting a company solving a huge problem for AppNexus and other software development shops like us. I am going to advise them. You guys should fund them.” Truth be told, we probably would have funded based solely on that email but we did a bunch of work anyway.

This is a classic eat your own dog food story. The founders, Abel and Samy, are too modest to say but they are rock star developers. We all know how valuable guys like these are but they found they were spending way too much time fixing bugs. Fixing bugs = not cutting new code. They realized that crash analytics and reporting systems are way behind today’s complex app environments. So they started Backtrace I/O to solve their problem. Learn more here.

15
Jul

MakersKit

By Brian Hirsch

Over the last several years the Maker Movement has morphed from a fringe subculture into what is in the early stages of becoming a mainstream phenomenon. An entire industry has sprouted up to turn people from consumers into makers.

People familiar with the evolution of the consumer tech market can see clear parallels between what’s happening today with the Maker Movement and the early days of computer clubs in the 1970’s that gave rise to modern day consumer tech that is enjoyed by billions of people.

The growth of the 3D printing market is an example that many people use to highlight the Maker Movement and we believe 3D printing has a bright future. But for the Maker Movement to fully reach the same type of success as consumer tech, the definition of being a maker must broaden. It doesn’t need to be tech dependent. To reach the mainstream the Maker Movement should be accessible and simple for the masses. Finally, like many movements, multiple faces are necessary to inspire, motivate and guide people forward.

When we met MakersKit founders Mike Stone and Jawn McQuade through Techstars, we immediately saw two people who were meant to be faces of the maker community. In a short time the “Makers Boys” have created a strong brand through high quality DIY kits and approachable and fun “how to” project guides. It’s no surprise that MakersKit has seen their product fly off the shelves since launch and both Urban Outfitters and Nordstrom have signed deals to distribute their products.

We knew shortly after meeting the founders that we wanted to lead their seed round. We’re excited to be working with Mike and Jawn as well as our co-investors including Bertelsmann Digital Media Investment, Greycroft Partners, Mesa+ and Gary Vaynerchuck’s Vayner RSE.

Go make something!

14
Jul

Announcing Our Investment in Virsec

By Chip Meakem

Enterprise security is serious business. Billions and billions of dollars are spent every year and yet ask any security exec if they feel good about their security and the answer is almost universally no. And as we all know the problem is only getting worse.

To date the vast majority of enterprise security spend has focused on perimeter protection and detection. Keep the bad guys out. But unfortunately it’s a classic game of cat and mouse and eventually the bad guys get in. Worse, the average hack goes something like 10 months without even being detected and Gartner says 92% are never detected at all. Scary.

Enter the team from our latest investment Virsec. These are old school computer security guys who’ve worked on very serious defense department stuff (technical term). When looking at big complicated markets, a simplifying insight (and obviously world class tech team) can help. If outside in isn’t working, try inside out. Virsec takes a whole new approach by understanding key relationships deep inside the system and keeping it running on the right rails. So, if a company gets hacked, first and foremost, they will deterministically know about it almost immediately, and second, Virsec can shut down the system threat in question.

This is easy to write in a satellite elevation paragraph and very tough to actually do in complex enterprise systems, but the Virsec guys are up to it!!!