Serac Ventures - Year in Review
2024 was a successful year for Serac Ventures. We knew starting out that we would be operating in a challenging market (especially from a fundraising perspective) but also reasoned that the cyclicality of the market could work to our advantage. For one, there was a tremendous amount of competition for institutional investors, many of whom are being pursued by established managers. As a small firm, this didn’t matter to us because we weren’t targeting those groups anyway. Secondarily, founder valuations and terms (at the seed stage) have been great for us. We invested in eight (8) companies this year (which was 100% of our target/goal), despite lowering our desired initial investment size. In most cases we were not the largest investor in a round, but we were able to get the same favorable terms as other investors. This would potentially be harder in a “bull” venture market.
From a marketing perspective, we introduced the venture capital asset class to many new investors and successfully added them to our group of highly valued LPs. Just under 70% of our LPs have never invested in a venture capital fund before and nearly 40% came from underrepresented groups. We are extremely grateful for ALL of our supporters, but the democratization of capital starts with access to economic opportunity. As such, we are super excited about demystifying venture capital to make it more accessible to those who may otherwise overlook the asset class.
In 2024, we were able to interact with nearly 4000 founders, either through our inbound or outbound deal sourcing efforts, in-person events, or through our GetFunded weekly office hours sessions (https://lu.ma/getfunded). It’s impossible to invest in every founder we meet, but we believe in adding as much value as we can to help founders along their journey.
Finally, we have no predictions about what’s to come in 2025. All we can do is focus on the things we can control – our attitude, activity, and contribution to founders and investors.
We are extremely fortunate to get to do this work, so to all our founders, investors, VC friends, and ecosystem builders, we THANK YOU.
Here’s to 2025!
Picture below (L to R) Darrel Frater ✝️, Kevin Moore, and Devin Brown.
Additional Serac Team: Chris Tsakalakis, Brayden Vanover, Brylan Donaldson
