TLDR:
Avid Ventures has raised $87 million for its second fund, following a successful strategy of making small initial investments in high-quality startups and increasing ownership over time. The firm focuses on building strong relationships with founders and has invested in about 25 companies so far. The article highlights the success stories of Avid’s investments, such as Coast, a fintech startup backed by Iconiq Growth, Accel, and Insight Partners. Additionally, the article mentions other recent venture deals and acquisitions in the industry.
Summary:
Avid Ventures, founded by Addie Lerner in 2020, has raised $87 million for its second fund, following a strategy of making small initial investments in high-quality startups and increasing ownership over time. The firm has invested in about 25 companies, including successful ventures like Coast, a fintech startup. Avid focuses on building strong relationships with founders, tracking ten to 15 companies at a time and quickly moving on if negative data points arise. The article also highlights recent venture deals and acquisitions in the industry, showcasing the ongoing activity and investment trends in the startup ecosystem.
