Allied Venture Partners

Hello Partners,

As a current or prospective partner, this newsletter provides exclusive insights into our investment strategy, portfolio companies, and industry trends.

Thank you again for your continued trust and support,

Matt Wilson, MBA

Founder & Managing Director | Allied Venture Partners

Team Updates

• Steve Walsh has joined as a Venture Partner to help with dealflow and portfolio support.

• Steve and I have completed more than a dozen deals together over the past 5 years. His valuable insight & network will be a significant value-add to the firm.

• I’ve shortlisted 2-3 advisors in strategic geographies across North America to help with sourcing and portfolio support—more updates to come.

New Deals

• Last month, Allied LPs were invited to an exclusive SPV opportunity to participate in the ownership of a major North American NHL franchise.

• I’m currently in late diligence with 3 prospective portfolio companies. Stay tuned for more updates.

Portfolio News

• Rook closed their oversubscribed Pre-Seed round. They have the fastest revenue ramp of any startup we’ve ever seen.

• GroWrk closed their preempted inside round at a 3x markup to our initial investment. They are now profitable and growing incredibly fast.

• Fonbnk continues to scale following the release of its airtime-to-USDC swap product, now with more than 350k users across Sub-Saharan Africa. Chris is incredibly capital efficient with 3+ years of runway in the bank.

Industry Insights

Many top-performing startups are waiting to fundraise until the fall, or raising preempted inside rounds (e.g. GroWrk) to capitalize on the downmarket and accelerate marketshare.

Overfunded & underperforming companies from 2021/22 continue to shake out of the market. As this trend continues over the summer, I remain firm that there will be some very attractive investment opportunities among the best-performing teams come Q4’23.

I also believe that many first-time VC funds that raised in 2020/21 (yet deployed too quickly at inflated valuations) will fail to raise second funds due to a lack of performance.

These converging market forces will result in the best companies getting backed by the best stewards of capital, restoring confidence & balance to the venture industry.

Since I began angel investing 10 years ago, I maintain the core values on which Allied was built:

1. Entry price matters

2. Strong teams with deep domain expertise who are laser-focused on product & customers

3. Mindful of capital efficiency, unit economics and a path to profitability

4. Meaningful and sustainable differentiation

Can you help grow our social channels? Please follow us on Twitter and LinkedIn