Uncork Capital

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Uncork Capital
Private
IndustryPrivate Equity
Founded2004
HeadquartersPalo Alto
Key people
Jeff Clavier, Founder
ProductsVenture Capital
Websitewww.uncorkcapital.com

Uncork Capital is a venture capital firm in Palo Alto, California founded by Jeff Clavier. Considered one of the most active established seed funds in Silicon Valley,[1] it has invested in companies such as Postmates, Eventbrite, Fitbit, SendGrid, and Survata.[2]

History[edit]

The firm was founded in 2004 by angel investor Jeff Clavier when he transitioned his portfolio into a formal venture firm.[3] Partners include Andy McLoughlin, formerly of Huddle, and Stephanie Palmeri.[4] As of 2014, the firm had invested in over 150 early stage start-ups.[5]

In 2017, the firm changed its name from SoftTech VC to Uncork Capital.[6]

Investments[edit]

The firm primarily invests in e-commerce, mobile services, and SaaS (software as a service) ventures.[7] With a focus on seed-stage and Series A funding, the firm generally aims to secure between 7-10% ownership of the companies it invests in.[8][9]

The firm's first fund raised less than $1 million,[10] while the second fund raised $15 million in 2007, including exits in Milo, Tapulous and Goodrec. In 2012, Fund III oversubscribed at $55 million,[11] and in 2014 they closed their fourth fund at $85 million, bringing their capital under management to $155 million.[7][12] In 2016, the firm raised $100 million for SoftTechVC V and $50 million for a breakout fund.[9]

Notable investments have included Eventbrite, Fitbit, Postmates, SendGrid, Survata, Gnip, BrightRoll, Vidyard and LiveRamp. [2][9]

References[edit]

  1. ^ Rampton, John (22 February 2017). "Meet the Angels: Silicon Valley's Most Well-Known Investors of 2016". Business Insider. Retrieved 6 May 2018.
  2. ^ a b "Survata Announces $6 Million in Series A Funding | Survata Blog". www.survata.com. Retrieved 2015-07-20.
  3. ^ Schonfeld, Erick (26 January 2012). "Jeff Clavier's SoftTech VC Raises $55 Million For Fund III"". TechCrunch.
  4. ^ Loizos, Connie (19 January 2016). "SoftTech VC Promotes Two To Partner As It Seeks Out Fresh $130M". TechCrunch. Retrieved 11 June 2018.
  5. ^ Volpicelli, Anna (1 August 2014). "The 20 Hottest Bay Area Fintech Investors and 20 Bay Area Fintech Startups To Keep Your Eye On". Huffington Post. Retrieved 6 May 2018.
  6. ^ "SoftTech VC rebrands as Uncork Capital". Pitchbook. 8 November 2017. Retrieved 6 May 2018.
  7. ^ a b Volpicelli, Anna (1 August 2014). "Meet The Bay Area's Top Female Venture Capitalists". 7x7. Retrieved 6 May 2018.
  8. ^ Garland, Russ (27 June 2014). "SoftTech VC Boosts Its Reserves With $85 Million Fourth Fund". Wall Street Journal. Retrieved 11 June 2018.
  9. ^ a b c Loizos, Connie (8 June 2016). "SoftTech VC goes big, raising $150 million across two new funds". TechCrunch. Retrieved 11 June 2018.
  10. ^ Taylor, Colleen (26 January 2012). "How Jeff Clavier will spend SoftTech's biggest VC fund yet". GigaOM.
  11. ^ Geron, Tomio (26 January 2012). "SoftTech VC Closes Oversubscribed $55 Million Third Fund". Forbes.
  12. ^ "The Daily Startup: SoftTech VC Aims at $75M for Fund IV". Wall Street Journal. 12 July 2013.

External links[edit]