The meeting conducted on November 5, 2023, presented a review of potential investment opportunities. Below is a concise evaluation of each opportunity based on the discussions.
- Puzzle is venturing into the accounting software market with a Series A+ round seeking $30M at a $120M pre-money valuation.
- Despite pre-revenue status, projections show promising growth (ARR from $0.4M in Q4 2023 to $24.3M by 2025).
- The company targets a significant market gap due to a 17% decline in U.S. accountants and auditors since 2019.
- Challenges faced by legacy systems and the role of AI in expense categorization were discussed. The comparison to older systems like Netsuite suggests a competitive edge but also raises questions about market penetration capabilities.
- The global fund administration services industry was worth at least $8 to $12 billion as of August 2021. ([https://boldergroup.com/insights/blogs/global-fund-administration-services](https://boldergroup.com/insights/blogs/global-fund-administration-services/#:~:text=The global fund a))
- Wobot, at the Seed+ stage, is raising $2M with a convertible note capped at $20M.
- The company offers a no-code AI video intelligence platform with $100K MRR and significant U.S. revenue, poised for growth.
- Questions regarding the efficacy of computer vision over existing security systems and the reliability of the India-based team were raised.
- Grayce is a Series A stage company raising $10M at a $26M pre-money valuation.
- It provides a family caregiving platform with a growing customer base and has shown 230% YoY growth.
- The scalability and complexity of competing with insurance companies were noted as potential challenges.
- Seeking $20M SAFE in Series A+, Atomic AI focuses on fusing AI with structural biology for RNA drug discovery.
- The field is complex, and further expertise is needed to fully grasp the potential and risks associated with this opportunity.
- Velvet, in the Seed stage, is raising $4M at a $20M post-money valuation.
- It aims to utilize generative AI to create a transparent data layer for the private market, expanding from a marketplace to SaaS for VCs.
- The platform's place in the current market hierarchy and the difficulty of entering relationship-driven business were discussed.
- WorldCoin is in the process of raising $500M at a pre-money valuation of $3B.
- They are working on a large-scale privacy-preserving identity network, with significant backing but also facing privacy concerns.
- The ethical implications of biometric data collection and competition with established ventures like Nasdaq Private Market were considered.
The evaluation of these opportunities should continue with a balanced view of their potential against market realities and inherent risks. Further due diligence is recommended before proceeding with any potential investment.