TMCnet News
Ubiquity Ventures Closes $50+ Million Fund 2 to Enable "Software Beyond the Screen" Seed-Stage Companies to Grow and ScalePALO ALTO, Calif., June 23, 2021 /PRNewswire/ -- Ubiquity Ventures, a seed-stage institutional venture capital firm that invests in "software beyond the screen" startups, announced the closing of the firm's second fund. Based on Ubiquity's industry-leading performance in its 2017 debut fund, delivering a 91% seed-to-Series A graduation rate, the firm will continue to back "software beyond the screen" companies that utilize smart hardware and machine learning to solve business problems outside the domain of computers and smartphones. Sunil Nagaraj is the founding Partner at Ubiquity Ventures with close to $100 million of assets under management and 25 portfolio companies. As an investor, Sunil has an extensive and successful track record in venture capital with $14 billion of exits earlier this year, including the sale of Auth0 to Okta for $6.5 billion. Sunil was Auth0's first VC investor while a Principal at Bessemer Venture Partners. He led the company's seed round, was their first board member, and eventually led Auth0's Series A. Software Beyond the Screen: a unique strategy "At Esper, we accelerate this trend of software permeating the physical world with our DevOps for Devices platform," said Esper CEO/co-founder Yadhu Gopalan. "Our solution powers enterprise devices across retail, restaurants, logistics, hospitality, and more. Sunil backed us the day we were incorporated, and his hands-on approach is unmatched as we've grown from 2 co-founders to over 100 employees and more than $40 million in VC funding." Software continues to move beyond the screen of computers and smartphones to other areas including:
The use cases are unlimited and often tap into historically untouched, greenfield markets. Ubiquity founding partner Sunil Nagaraj commented, "In my ten years of venture capital with almost $20 billion of exits, I have never seen a more exciting and lucrative trend than "software beyond the screen". This landscape is incredibly ripe for opportunity with many future multi-billion-dollar companies still at the seed stage or perhaps not even yet formed. Ubiquity's fund 2 is backed by a forward-thinking institutional investor base, with all large backers from fund 1 increasing their commitments as well as the addition of new similarly-minded universities and endowments." About Ubiquity Ventures
View original content to download multimedia:http://www.prnewswire.com/news-releases/ubiquity-ventures-closes-50-million-fund-2-to-enable-software-beyond-the-screen-seed-stage-companies-to-grow-and-scale-301318005.html SOURCE Ubiquity Ventures |