SOSV, a multi-venture company that was founded as entrepreneur Sean O’Sullivan’s personal investment vehicle after his company went public in 1994, then relaunched as a traditional venture company with external sponsors in 2015, has raised $ 218 million for His third fund.
The vehicle has a $ 250 million target than SOSV. It hopes to meet by the end of the year, but it is already substantially larger than the company’s previous fund, which closed at $ 150 million.
SOSV is best known for the many accelerators it has created and oversees, including hardware-focused HAX and IndieBio for life science startups. Yesterday, we were in contact with SOSV’s partner, Daniel Eichner, who is in charge of raising capital for the organization, as well as introducing his portfolio companies to potential future investors, to learn more about the news in his eight offices in everyone, including Cork, Ireland; Princeton, NJ .; New York; San Francisco; London; Shenzhen; Carry off; and Tapei.
Among the many things we learned: The company now has eight main partners who ultimately decide where the capital is invested, and a whopping 110 people in the United States, Europe, and China, including support staff who help their companies. emerging to go from laboratory to market.
The firm has also earned some bragging rights, including as the main investor in the electric bike company Jump Bikes, acquired last year for an undisclosed amount from Uber. It also has some highly valued companies in its portfolio today, including the 3D printing “unicorn” FormLabs; GetAround, the peer-to-peer ride-sharing company, which just acquired a French company yesterday to extend its reach to Europe; and Makeblock, a Shenzhen, China-based company that sells robot kits for kids and most recently raised $ 44 million in Series C funding.
The firm hasn’t shied away from some more ambitious bets, whether it includes one on BitMEX, a Hong Kong-based crypto exchange that focuses on cryptoderivatives and in which SOSV is the sole institutional investor.
Most of the founders he endorses – 80 percent, Eichner says – are rookies, although “many have years and sometimes decades of work experience,” he adds.
As for the size of the checks that SOSV writes, their accelerator agreements are standardized for each program, but the smaller check is for $ 100,000 for software startups or $ 250,000 for hardware and life science startups. Meanwhile, the most it will invest is up to $ 2 million, over multiple rounds, and its biggest bet to date is SyntheX, a designer therapeutics company in which SOSV owns a 20 percent stake.
Eichner explains that SOSV aims for an 8 to 16 percent stake in the acceleration phase, and then seeks to establish or maintain a 15 percent stake in 20 to 30 percent of its companies.
Despite its many remote offices, we asked whether SOSV tends to support more founders in the United States than elsewhere, or vice versa. Eichner says that about half of the companies in SOSV’s portfolio are in North America, with another quarter in Asia and the remainder divided between Europe and the rest of the world.
In the photo above: the founder of the company, Sean O’Sullivan..