For our seed fund, we invest in companies with pre-money valuations of $12 million or less. These include both pre-revenue and post-revenue companies. For post-revenue companies, a good rule of thumb for an exciting opportunity is monthly revenue of $10,000 or more growing at 15% month-over-month. For our Opportunity Fund, we intend to invest in companies with revenue between $10 million and $100 million.
NextGen’s network of more than 1,200 entrepreneurs, executives and technologists nationwide commits to helping our portfolio companies with expertise, connections and advice. Members of the full-time NextGen team act as a concierge for our portfolio companies, helping them leverage the network of Venture Partners. The key areas where our team can be helpful are:
1. Facilitating 30- to 60-minute conversations with Venture Partners who have deep, functional expertise (e.g., search engine optimization, building a sales team, content marketing, etc.) and are available as needed.
2. Making introductions between portfolio companies and customers and/or distribution partners within the Venture Partner network and beyond.
3. Making connections to sources of downstream financing, particularly to other later stage venture firms.
4. Making connections to potential hires as companies grow their teams.