In our new article series, we introduce the most exciting venture capital firms that are open for LP investments to our family office network. The article belongs to our exclusive single-family office guidebook, where we give guidance on the most relevant topics for newly established and already existing family investment vehicles.
In this article, we talked to MaC Venture Capital, a Silicon Valley-based seed-stage venture capital firm that holds a wide and well-diversified portfolio of startups from many fields and that have experienced outstanding success, generating great returns for the firm. Certain traits differentiate them from other seed-stage firms, and financial success is a fair prove of it.
Familyofficehub.io (FO): Briefly describe your focus: in which kind of startups are you investing, where is your geographical focus, what’s your average ticket size?
MaC Venture Capital: We are a seed-stage firm with a team split between Northern and Southern California. We consider companies in any geography. We look for software-centric startups led by exceptional technical founders building both consumer and enterprise businesses. Given MaC’s partners’ background in government, corporate venture, and entertainment, we look for companies building disruptive businesses in different areas. The ones we are more focused on are media and entertainment, immersive reality, e-commerce and marketplaces, health and wellness, and areas in which have exposure to government buying or regulation.
Our initial checks are up to $1.5M. For that amount, we usually get around 10% of the company’s ownership.
FO: What are exciting companies in your portfolio – and why?
- Ready Responders is a company changing the nature of emergency services. We invested at a $6M valuation and the latest valuation is $350M.
- Cue Health led the NBA’s efforts to protect their bubble from COVID. The company is raising a round at a $2B valuation.
- Manticore Games is building a UGC gaming platform that is a more AAA Roblox. We invested at a $15M valuation and the company last raised at a valuation of $300M.
- Airspace Technologies is a shipping service for critical, valuable goods and has seen incredible growth. We invested at a valuation of $13M and they last raised at a valuation of $393M.
- Finally, PlayVS is building the high school and colligate infostructure for eSports. We invested at a $35M valuation and the company is currently valued at $626M.
FO: Why should a family office invest in MaC as LP?
MaC VC: There are three things that collectively make MaC different from any venture fund in the world:
1) We are a diverse team of GPs and the firm is majority minority-owned;
2) We are one of the only seed funds to have a physical presence in both northern and southern California giving us access to the best deal flow out of both tech ecosystems; and
3) We are the only fund to count a former large-city Mayor (Washington DC) and a former Hollywood Super-Agent (WME) as GPs.
Our past fund performance has shown we can build a portfolio of founders that is 50%+ under-represented rounders while maintaining a top 25% performance benchmark. We see unique deals and value companies in ways that are different from any other VC firm. Additionally, we have raised capital from LPs that include Greenspring, University of Michigan, Plexo Capital, Attento Capital (and arm of the George Kaiser Family Foundation), Goldman Sachs, The Libra Foundation, and many other foundations and family offices.
FO: Are you also open to investments from European family offices?
MaC VC: We are open to investment from European family offices.
FO: Thanks for your time!
Headquarters: Silicon Valley, California.
Website: MaC Venture Capital