Portfolio Update - May 2021
Insights from the Top
Today millennials and Gen Z employees make up about 38% of the workforce – that will grow to 58% within the next decade. For millennials, societal impact and ethics are of extreme importance. But how can corporate America adapt to this mindset?
Constance Freedman, Moderne Ventures Founder and Managing Partner lays out her vision: “We see so many opportunities for ESG investing in the real estate, finance and home service industries, and we are committed to helping our corporate partners realize the value in ESG, helping them to decrease both their carbon footprint and energy costs.”
Here’s what is happening across the MV ecosystem this month:
ESG - Where Principles Meet Profits
At Moderne Ventures, we understand the major role that VC plays in supporting and growing new and innovative companies and we believe that it is critical to look for companies that have ESG at their core. We’re working diligently alongside our corporate partners to grow our portfolio with companies (ICON, Kaiyo, Vyv, Piñata and Trash Butler) that are challenging the status quo and changing the way business is done. Read the full article here.
Fund Announcements
Kaiyo recently announced it had raised $5M in funding led by Moderne Ventures, with full participation from Lerer Hippeau and Max Ventures.
"Kaiyo is addressing a huge pain point for consumers by taking the hassle out of buying and selling used furniture in a secure way, enabling consumers to reduce waste and save money. At Moderne, we are opening up our B2B channels for Kaiyo in the multi-family, residential and commercial markets," said Liza Benson, Partner at Moderne Ventures. "Our platform is built around connecting our investors to our companies, creating outsized returns. We are proud to be an investor in Kaiyo and to support their continued acceleration by extending their service to our partners as a 2021 Passport Company."
Super - Moderne Ventures’ was proud to support Super’s Series C close, which raised $45M for the San Francisco-based technology company that offers subscription services providing care and repair for homes.
MotoRefi - Continuing the partnership, Moderne Ventures participated in MotoRefi’s $45M Series B led by Goldman Sachs at a valuation 4x the initial investment from Moderne. Constance Freedman shared, “MotoRefi's $45M Series B financing will accelerate their mission to make auto refinancing simple and transparent. Moderne Ventures' continued partnership with MotoRefi is a perfect example of the "outside in" approach we deploy with our investments to bring those that sit outside of our industries into the industries, creating tremendous value."
Better announced plans to IPO via SPAC at a $7.7 b valuation. Read more.
Hello Alfred & HOM - Property management company, Hello Alfred acquired HOM, (two Moderne’s portfolio companies), in an all-equity deal. Read more.
ICON unveiled its next-gen 3D printer and announced its new Exploration Series of homes. Check out their recent feature on CBS Sunday Morning.
Vyv announced recent independent test results confirming efficacy of its antimicrobial LED technology (405nm) for killing viruses including SARS (COVID-19), in addition to bacteria, mold, fungi and yeast. Read more here.
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