News from Point Nine Capital – October 2020
Hi <<First Name>>,
Here’s a little quiz:

Why did we raise a €99,999,999 fund, when every halfway sane human being would make it €100 million?

A: We couldn’t persuade anyone to put in the last €1. 💶
B: We’re fans of Nena. 🎈
C: Raising €100 million would put us on the radar of the SEC. 📡
D: Ola’s calculator has only eight digits. 🧮

You’ll see the right answer when you’ve made it to the end of this newsletter.

A new fund is not a big deal per se – a VC firm that doesn’t raise a new fund every three years or so is like peanut butter without the jelly. But we used the new fund as an opportunity to tell the world about our new Patagonia vests and morning routines that we’ve brought on two new equal partners, Louis and Ricardo. Check out Christoph’s post to read more about P9 V and the expansion of our partnership. For 99 variations of the same story (just kidding), check out TechCrunch, Sifted, Handelsblatt or listen to our podcast on Venture Stories.

After years of trying to convert the entire Point Nine team into vegetarians (with one or two successes), Christoph decided to take things into his own hands and did a deep dive into the cultivated meat industry. Enter Mission Barns, a Berkeley-based startup that is creating meat from animal cells. Whilst definitely not our typical B2B SaaS investment, we couldn’t be more excited about Mission Barns’ mission (no pun intended) to end factory farming as we know it. To find out more about our investment thesis and get a dummies’ guide to cultured meat, check out Christoph’s post here

It turns out that Mission Barns isn’t our only new investment that feels like it's straight out of a sci-fi novel. We’re excited to announce that we’ve backed Gravity Sketch, which is making virtual reality a, well, reality for enterprise CAD users. They are already being used by companies like Ford, Nissan, and Reebok. Better start lining up for that VR designed sports car. 🏎

Up next on our list of companies that are working on a (better) future is AMMP, a cloud-based solution to monitor and remote-control hybrid energy systems in developing countries. We’re incredibly proud to be part of their mission to accelerate the global shift from fossil fuels to the future: decentralized renewable energy.

Last but not least is Tradelink, a tool for logistics and warehouse managers to coordinate incoming deliveries and transport coordination. We’re excited to support them in their mission of changing the logistics industry for good!


#P9FAMILY News 🗞️
Just because you’re working from home, and wearing pyjamas, doesn’t mean you can’t raise tens of millions of dollars. Congrats to all the #p9family companies that have raised kick-ass financing rounds in the last few weeks and months!

Our friends at just closed a $18.6m Series A led by Index Ventures to take their air freight booking platform to new heights. They were also featured in this year’s The Cloud 99 100 Rising Stars list. 💫

Claimsforce claimed secured €7m from Notion Capital to expand its insurance claims management platform.

Congrats to all the Loomates and Loominaries, turns out Loom is one of Linkedin’s List of Top 50 Startups in the US! They also rolled out a killer rebrand and were featured in an episode of The Next Unicorn. 🦄

Loom hasn’t been the only video startup getting airtime lately, Zype was also recognized as one of the top 50 companies in video streaming.

Word on the grapevine is that marketplaces are becoming the next fintechs. Jobber took a step in that direction by partnering with Stripe to be able to offer instant payout to its suppliers.

Chainalysis moved further into Dr. Holmes’ territory after having won a $1.25m contract to track financial crime on the privacy focused Monero blockchain. 🕵️‍♂️

Candis raised a $14m Series B to help SMBs manage their accounting processes and finance their unbeatable swag. Obama said it best: Yes We Candis 💪


From our blogs ✍️

If you're having team problems, I feel bad for you, son, I got 99 problems but engineering and product management ain’t one. Michael Wolfe, one of our Venture Partners, gave us the lowdown on finding your VP of Engineering and Louis breaks down why it's important to hire a PM after your seed round. 🔥

If you’re a manufacturing startup, I got one tip for you son, check out Robin’s latest manufacturing industry update to figure out how to get it done.

On a different note, turns out Christoph is not only great at SaaS metrics, but also great at make-up tutorials! Check out his latest post on how to look better than natural on your next video call. 📸

Now that you’ve mastered how to look fabulous in video calls, you might as well show it off by running your own virtual event. Check out Oana’s post on how best to run virtual events and what to keep in mind here.

Lastly, we couldn’t be more excited to announce our first virtual and potentially largest portfolio event ever. Kick-ass speakers, over 99 P9 founders and over 500 employees of the P9Family 🚀. There are a couple of spots open for non-portfolio companies, check out the link to apply for them and find out more.
That’s all for now folks! Stay safe and healthy,

The P9 Team  🎉

PS: Here's the answer to the €99 million question. None of the above. Although we are big fans of Nena, our decision to raise a €99,999,999 fund was pretty much driven by our love for the number 9!
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