Deal Sheet

Today is our 20th Issue of Deal Sheet. That means Zachary Ginsburg and I have now shared 2-6 curated SPV investment opportunities a week for 20 weeks in a row. We were not entirely sure what to expect when we set out to launch Deal Sheet and curate deals for LPs every single week. A lot of deals to be responsible to share weekly, right? We had high confidence in our ability to source but also work with and support many of the other great syndicate leads in the ecosystem (that we’ve met, worked with, and co-syndicated deals with over the past 5-6 years). We’ve been fortunate to spotlight pre-seed through pre-IPO investment opportunities from over 20 different syndicate leads who all bring differentiated and unique deal flow. It’s a great feeling to have now completed this 20 weeks in a row (despite soooo much more to accomplish). I only see Deal Sheet getting better going forward and I truly believe this. I believe this is a win for Syndicate leads who can access additional capital and high-intent, quality LPs (in a tough environment). I believe it is a win for our customers who can now access more curated deal flow, and at discounted carry (10% vs. 20%) providing additional upside for LPs who are active in the ecosystem. A massive thank you to the many syndicate leads who have worked with us and our early customers! ♥️♥️♥️ Cheers to the next 100 weeks of curated deals!

May, 2024: Deal Sheet Recap May Deals = 19 Deals Shared - Issue 13 = 3 deals - Issue 14 = 5 deals - Issue 15 = 6 deals - Issue 16 = 5 deals Co-Investors in May included: Accel, Lightspeed Venture Partners, Sequoia, Founders Fund, General Catalyst, Bain Capital, Initialized, Y Combinator, Matrix Partners, Haystack, 776, Valor Equity, Fifty Years, Tribe Capital, Day One Ventures, Salesforce Ventures, M13, Canaan Partners, Hustle Fund, Soma Capital, Lattice, MaC Venture Capital, Marcy Venture Partners, Blockchain Capital, Fusion Fund, and more!   Stage of Deals: - Early (pre-Seed to Series A) = 14 - Growth = 3 - Pre-IPO = 2 Sample Syndicates featured on Deal Sheet: - Reverb Ventures - Looking Glass Capital - Stateless Ventures - Exitfund Ventures - SuperAngel.Fund - Iterative Ventures - Calm Ventures - Riverside Ventures - Climate Capital - Mavweb3 - Eun Youb Josh Lee LLC What is Deal Sheet? Deal Sheet is a paid weekly newsletter that delivers the best (and actively investable) startup investment opportunities directly to your inbox. These deals are being syndicated by many of the best and most active syndicate leads that we’ve worked with over the years. Deal Sheet provides unique deal access & discounted carry (10% carry versus standard 20%) to all Deal Sheet members. You can expect 150-250+ deals per year sent via Deal Sheet. Additionally, we offer Deal Sheet subscribers select 0% carry opportunities. Link to schedule time to learn more in comments.

📈 5, 10x+ Returns (on paper) for SPVs into Bridge Rounds 📈 Resurfacing this segment from a previous Last Money In Media post. We believe bridge rounds can present “value” and/or can be a way to invest in a business that is otherwise inaccessible as future larger priced financings may be taken completely by 1-2 large investors + pro-rata investors, leaving no room for other new VCs. Below, are a few examples of blinded companies that Zachary or I have been marked up 10x or more on: 1) Company A (industry: autonomous) – Seed Bridge Round →10x return distributed ~1 year later 2) Company B (industry: SaaS) – Series A Bridge → ~16x markup within ~2.5 years in a round most recently led by Insight Partners 3) Company C (industry: VR) – COVID bridge → raised at valuation cap at ~10x higher in ~2 years 4) Company D (industry: Fintech) – Series A ext. → ~10x val, markup in less than 2 years, unicorn priced by Goldman Sachs 5) Company E (industry: CPG) – COVID/Seed Bridge Round → ~41x val. markup in less than 3 years in a series C round (not yet announced) Also… because the dollar amount raised in bridge rounds is typically small in nature, a company is often willing to sacrifice optimizing valuation for speed to raise given the amount raised is likely a small dilution hit for the company – a 5-10% dilution hit as opposed to the 25-33% seen for many priced financings. That being said, there are many bridge rounds that bridge to company shut down, so beware. full post in comments. -- Powered by Sydecar, Last Money In Media is the most actionable venture capital newsletter. Written by Zachary Ginsburg and Alex Pattis, who have deployed >$200M across 750+ SPVs.

⏳Last Chance! ⏳ Today is the final day to enter our giveaway for a free annual membership to Deal Sheet! If you haven’t already, this is your last chance to gain access to $3,500 worth of exclusive, high-quality startup investment opportunities. Deal Sheet not only offers a 50% reduction in carry fees but also provides a curated selection of deals from top syndicate leads—handpicked by industry veterans Alex Pattis and Zachary Ginsburg. This is an unmatched opportunity to access the best VC deals with significant financial advantages. The giveaway ends at 11:59p PT tonight. Learn more and enter using this link: https://lnkd.in/dbwppThN

Deal Sheet has partnered with Sydecar to give away an annual subscription to Deal Sheet, our premium newsletter that provides top-tier, readily available investment opportunities straight to your inbox. Valued at $3,500, a Deal Sheet membership offers you unique access to deal flow with reduced carry feed. Link to apply in comments! At the close of the giveaway, one lucky participant will be selected at random to receive this exclusive offer. The winner will be notified by email. This is your chance to gain unique access to top VC deals and elevate your investment strategy. Sharing a segment from our interview w/Sydecar below to further highlight how Deal Sheet works... Sydecar: Highlight the key benefits of subscribing to DS. What unique insights or opportunities does it provide to its members? Zachary Ginsburg/Me: The value prop for Deal Sheet is pretty straightforward, and is as follows: 1) Zach and I curate the best actively investable startup opportunities across 50+ VC syndicate leads and share them with Deal Sheet subscribers every week. While Zach and I share our own deals (if they qualify as the best across the ecosystem), we also include deals from a much wider set of syndicate leads to ensure the highest quality deals are provided to our subscribers. To our knowledge, this is the first and most comprehensive syndicate offering that exists, and we don’t feel there’s anyone more qualified to start it given our long-term relationships with 50+ syndicate GPs and >10k LPs 2) Every single deal on Deal Sheet is 10% carry, a 50% discount to the standard 20% carry. In short, Deal Sheet subscribers can access the top deals, and at reduced carry. Why is that important? Here’s a breakdown of an example of when you invest in a winner, how much you can save on the reduced carry. You invest $10k: Let’s assume the deal 10x’s. - You pay $18k in carry. - With Deal Sheet, that gets reduced to $9k. - You save $9k via Deal Sheet Now, let’s say you invest $20k: Let’s assume the deal 10x’s. - You pay $36k in carry. - With Deal Sheet, that gets reduced to $18k. - You save $18k via Deal Sheet ***Not every deal will return a 10x of course, but when/if you do find just one that does or returns more (say that 100x fund returner…), the savings potential for the investor on reduced carry will pay for the subscription many times over. And that’s just the “carry savings” benefit…the “access” benefit we believe is actually more enticing given we intend to provide the curated one stop shop to the best VC deals.***

🚨Launch Alert 🚨 We’re excited to kick off our exclusive 7-day giveaway with Last Money In Media! Between now and next Tuesday, May 28, enter for a chance to win an annual subscription to Deal Sheet, the premier resource for top-tier, investable startup opportunities. Valued at $3,500, this subscription offers unique access to deal flow and significantly reduced carry--and you could get it for free. All it takes to enter is your email address. Learn more and enter here: https://lnkd.in/dbwppThN