![]() We have definitely a little bit different focus than many small firms do. They’re in places like Philadelphia, New York, Seattle, Santa Barbara. Roughly, a third of our portfolio is outside of the Bay Area. Over the last five years, we’ve had an interesting focus of being open to investments outside of the Bay Area. One that we’ve done a lot of homework around. You invest all over the country and all over North America.Ĭindy Padnos: That’s a really important question. Sramana Mitra: It’s not Silicon Valley exclusive. Today 80% of our investments are in the United States and 20% in Canada. More than half of our portfolio do indeed have at least one female co-founder but we never use gender, ethnicity, age or anything else as part of our investment criteria.Ĭindy Padnos: We focus exclusively in North America. That means that it ends up being more inclusive. We have created an environment that is conducive to expanding our deal flow. Is this all kinds of entrepreneurs or is there any kind of bias towards women?Ĭindy Padnos: We don’t have any bias. Sramana Mitra: I remember when we talked some years ago, you were a big champion of female entrepreneurs. The size of that round can range from a million to $5 million depending on the progress the company has already made. We’re frequently coming in after angel investors and before a Series A round. Sramana Mitra: What is the deal size that you do? What is the denomination of investment that you typically put in?Ĭindy Padnos: We’re typically a company’s first institutional financing round. We invest in startups that are SaaS business applications, cloud computing, mobile software targeted towards the enterprise. Our focus is exclusively in the enterprise or B2B category. What is the focus of the firm? How big is the fund? What sized investments do you make?Ĭindy Padnos: We’re on our third fund. Sramana Mitra: Tell us about Illuminate Ventures. You can listen to a podcast of our conversation here or watch the roundtable video below: ![]() Today, I introduce you to Cindy Padnos, Illuminate Ventures.Ĭindy Padnos, Founder and Managing Partner at Illuminate Ventures, discusses a topic that we’ve been highlighting recently: the need for multiple seed rounds as a way to bridge the Series A gap. First, please study our free Bootstrapping course and the Investor Introductions page. Then, start looking for entrepreneur – investor fit. If you have been bootstrapping and think you are ready for investors, you need to learn how investors think. ![]()
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