So much to be thankful for!
Ulu celebrated the 10th unicorn in our portfolio! Everlaw, a legal tech firm Fund I company, was valued at $2B. Ulupreneurs raised more than $200M and earned several top-tier media nominations for their achievements and leadership. The Ulu team continues efforts to advance DEI efforts in the entrepreneurial and investment communities through thought-leadership and investing in diverse founders.
Fund III Investments
We made three investments: two are new Fund III companies (one remains in stealth) and the other is a cross-fund investment in a Fund II firm.
eGlint is developing a handheld biosensor chip that has the potential to upend major segments of the $70b+ lab-testing market. The chip will combine technologies that, while well-validated with respect to certain applications, have never been combined and used for in vitro diagnostics testing. The disposable chip will be developed for at-home use in conjunction with emerging telehealth procedures and point-of-care use where it would enable immediate consultation with a patient’s physician. eGlint is a co-investment with SeedFolio, a Fund III life sciences firm that like Ulu uses Stanford decision analysis and a 10x probability-weighted multiple to make investment decisions.
Overlay (an Ulu Fund II company and now a Fund III investment) gives professionals working in the field a precise augmented-reality experience on a portable hand-held device to better understand physical infrastructure in full 3D. The application can be used in the construction, landscaping, surveying, transportation, architecture and utilities sectors. Overlay has finalized a commercial relationship with one of the world’s largest global water utilities, who will be using their technology to identify critical and costly leaks.
Clint and Miriam participated in the SUPERCHARGED Summit featuring an in-depth conversation with Kwanza Jones and Clearlake Capital cofounder and Stanford trustee José Feliciano about how to develop a more powerful partnership, and insights on how they continue to build their own.
To further connect Latinx GPs with LPs, LatinxVC hosted a virtual founding-GP showcase as well as in-person receptions across multiple cities including Chicago, Los Angeles, New York, and San Francisco. Miriam spoke at the showcase alongsideConsuelo Valverde, Founder & Managing Partner at SV LATAM Capital (also a Kauffman Fellow)on a panel entitled “What has changed, what has stayed the same and what do we have to look forward to?” Ulu Principal Nancy Torres attended the San Francisco community reception.
Clint served as a judge in the StartX competition to select enterprise companies for the accelerator’s latest cohort. He’s been a judge in the accelerator competition for more than a decade.
Miriam was featured in a blog by Michelle Dhansinghani called Michelle Unplugged, where she was highlighted as one of the often unsung heroes of women of color in fintech, along with Ulupreneur Beatriz Acevedo, CEO and co-founder of SUMA Wealth.
Ulupreneurs in the News
Ulupreneurs were featured in major news outlets including CNN, CNBC, Forbes, Reuters, TechCrunch and more, for their achievements and thought leadership.
Entrepreneur featured an article written by BetterUp CEO Alexi Robichaux
about lessons learned from building a hybrid company.
Worth named Ellevest CEO Sallie Krawcheck to the Worthy 100 list in finance, and in a separate piece profiled Sallie’s efforts to close the gender pay gap.
Barron’s featured five pieces of investment advice from Ellevest CEO Sallie Krawcheck.
Investment News named Ellevest CEO Sallie Krawcheck in their Icons and Innovators 2021 as the icon of the year.
Reuters highlighted Everlaw’s Series D raise of $202M with a $2B valuation.
Worth named FreeWill CEO Jenny Xia Spradling to the Worthy 100 list in tech.
The Crypto Channel interviewed Figure CEO Mike Cagney about blockchain.
Three media outlets ran stories highlighting Guild Education’s partnership with Macy’s to provide education-related benefits to Macy’s employees. Entrepreneur focused on how the retailer is boosting staff morale via pay raises and education perks, and both CNBC and Forbes focused on Macy’s commitment to offer its employees a college education through its partnership with Guild Education.
TechCrunch featured Guild Education CEO Rachel Carlson and early investor Aileen Lee of Cowboy Ventures with a walk-through of Guild’s early pitch deck.
Fortune featured a drive by Guild Education and the OneTen initiative, a coalition of companies pulled together by former American Express CEO Ken Chenault and former Merck CEO Ken Frazier, to upskill one million Black Americans.
Inc. named Guild Education to its Top 250 Best-Led Companies of 2021 list.
TechCrunch article outlined Plentina’s “buy now pay later” plan for emerging markets and recent $2.2M raise.
Automotive World headlined Proterra’s new partnership with Lightning eMotors to supply battery technology for 10,000 electric commercial vehicles.
Inc. named Proterra to its Top 250 Best-Led Companies of 2021 list.
Nasdaq headlined SoFi in a piece about how the fintech is growing fast and has a massive market opportunity.
CNN featured an opinion piece by SoFi CEO Anthony Noto about how it’s time for employers to take a stake in the well-being of veterans.