![]() “There’s a limit for the honesty that we can bring to the table with your board, or even with your executive team, so we’ll try to just make sure that we are one of the most comfortable places for true intellectual debate while we’re also making money together,” Sorrentino said. The advantage to becoming an LP of Atman as opposed to continuing angel investing, the pair say, is that these founders have a “safe” place to bounce ideas off of their peers. The founders include John Sung King - founding CEO of publicly traded Five9 Alexandre Liuzzi, co-founder & CSO at Remessa Online, which was acquired by EBANX Adhemar Milani Neto - founder & CEO at KOVI, and Doug Storf - founder & CEO at Swap, among others. Currently, 70% are from LatAm and 30% are from the U.S. So far, Atman also has more than 20 founder LPs that make up its “Egregore,” which means a collective of individuals that share values and principles with skin in the game. LPs are a mix of ultra-high-net-worth individuals, family offices and institutions in addition to founders. It’s eyeing B2B, software, commerce, consumer and fintech startups. The fund plans to invest at the pre-seed and seed stages with checks averaging from $750,000 to $1.5 million. “Investing in both geographies makes us better investors, and it makes us a much more interesting value proposition as a firm because we have a presence in both regions,” Sorrentino said. ![]() and Bamboo, a stealth fintech startup and LoopiPay in Latin America. ![]() So far, the new firm has six portfolio companies - Pipefy, Streetbeat and Aestuary in the U.S. In February 2021, Sorrentino left OneVC - another cross-border firm he founded - to focus on building out Atman Capital. “This is when we came up with the model of paying them carried interest in the fund while doing deals together as a community.”ĭias spent seven years at JP Morgan and another couple of years at Riskified before teaming up with Sorrentino to found Atman. The most common answer was the desire to leverage their personal network, as all these founders - through partial secondaries - are very active angels,” Sorrentino told TechCrunch. “We spoke with over 100 founders, asking them what they wanted and what was important to them. In a tightening capital market in which Atman has closed on $9 million for a fund targeting $30 million, the extra enticement - atop the 80% in profits that LPs typically receive from successful outcomes - is also smart. ![]() ![]() It’s an interesting twist for the firm, founded last year by Brazilian-born Pedro Sorrentino and Pedro Dias and that is investing in startups in the U.S. It promises to give credit to any one of them who refers a successful deal to the venture firm in the form of some carried interest in the firm’s own profits. Atman Capital, a year-old early-stage venture firm partially backed by about 20 founders, is sweetening the deal for these individual limited partners. ![]()
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