TLDR:
- Legacy, a male fertility startup, raised $7.5 million from investors like Samsung Next Ventures.
- An AI-powered VC firm, TRAC, initiated Legacy’s fundraising push with a cold reach-out.
Legacy, a male fertility startup, unexpectedly raised $7.5 million in funding after being selected by TRAC, an AI-powered VC firm. Although Legacy had already secured substantial investment from top VC firms and celebrities, TRAC’s algorithm identified the company as an attractive investment opportunity. This AI-driven approach to venture capital is becoming increasingly common, with TRAC utilizing a proprietary algorithm to select all its investment targets.
Legacy’s founder, Khaled Kteily, expressed enthusiasm for TRAC’s offer, which facilitated the startup’s recent successful funding round. The $7.5 million raise will support Legacy’s growth in the male fertility market, where the company aims to normalize sperm testing and freezing. With plans to launch 23andMe-style reports and fulfill contracts with the US Department of Veterans Affairs, Legacy is poised for expansion and innovation in the fertility care industry.
TRAC’s unique approach to venture capital, dubbed “Moneyball for venture capital,” relies on AI algorithms to identify promising investment opportunities. By leveraging data on existing investors and successful backers, TRAC aims to optimize its investment strategy and achieve competitive returns. While AI may streamline the investment process, TRAC acknowledges the importance of human relationships in securing desirable deals and building a strong investment portfolio.
