Stage 2 Capital launches $ 80 million Fund II targeting B2B software startups – TechCrunch
Boston Market Entry Venture Capital Company Stage 2 Capital Launch a second fund with the intention of investing $ 80 million in a B2B software company.
The firm’s approach combines venture capital expertise with a diverse community of over 250 sponsors and market development experts working with portfolio companies to accelerate revenue growth.
Former Bessemer Venture Partners Japo investor and former HubSpot Revenue Director Mark Roberge launched Stage 2 Capital in 2018.
While at Bessemer, Po told TechCrunch he met the founder of a startup who didn’t know how to increase his income or build sustainable vending machines. He saw how big the Market Entry (GtM) skills gap was, so he took sales development classes in the evenings and on weekends to better understand what was going on.
At the same time, Roberge was a teacher at Harvard Business School, consulting startups. He also saw the founders fight to build GtM functionality, collect a large number of data points, and put them together in a single book. At $ 100 million. “
âIt used to be cool, it was virtual,â Po said. It allowed them to invest in different regions and set their own pace in terms of network curation and referrals.
Their goal is to educate startups at the right time to grow. Startups are expected to grow 100% or 200%, but many startups scale prematurely because they assume that a particular company will experience massive growth at some point and so it is. Enlarge.
“Companies jumped into this set of goals prematurely and found they were not ready for it,” he added. âWe help them understand when and how fast they can go. They often saw success before that, but who other companies were selling to, and I don’t understand the environmental context at the time. “
Po and Roberge launched their first fund in 2018, raising $ 15 million and ultimately making 11 late seed investments in Series A companies, including companies such as Gong, Procore, Atlassian, Asana and Drift. Accumulated a network of 97 LPs from. The company wants to help companies change the world, but Roberge said it took a while and his peers were in awe of the first signs of investment treaties.
The first fund’s investment includes companies from across the United States such as Sendoso, Ocrolus, Gosite and Reibus.
âStage 2’s capital sets itself apart from all other VCs, thanks to the expertise and partnership that Jay, Mark and LP bring,â said Kris Rudeegraap, founder and CEO of Sendoso. “They exceeded their expectations to keep their promises and increased their bottom line almost 10 times in the short term after investing.”
The company’s second fund represents a five-fold increase in investment capital, Po said. He expects to invest in 20 more companies with an average check of $ 250,000. The duo have made seven investments to date, including DeepScribe, Arcade, QuotaPath and Sales Impact Academy.
Stage 2 Capital Launches $ 80 Million Fund II Targeting B2B Software Startups – TechCrunch Source Link Stage 2 Capital Launches $ 80 Million Fund II Targeting B2B Software Startups – TechCrunch