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  • 🕵️‍♂️ 22 May 2024: WeCo + Acorns + Entrepreneur First: Zola + Zoiya + Assuric

🕵️‍♂️ 22 May 2024: WeCo + Acorns + Entrepreneur First: Zola + Zoiya + Assuric

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STARTUP PICKS

WeCo

Blurb: WeCo is building an LLM-augmented autonomous agent that will automate the data science and AI consultancy industry for SMBs and enterprise companies. The Large Language Model Augmented Autonomous Agent can carry out some of the tasks of a data scientist regarding the generation and moderation of prediction models. The company was started by Yuxiang Wu, the CEO, and Zhengyao Jiang the CTO, who both have PhDs and have been working on AI and publications across different applications.

WeCo is now aiming to build a consultancy company with AI agents. They plug into a company's data source, analyze the data, determine if applications are solvable, and, if possible, build a model for their customers.

We have looked at more traditional models like Scale AI and Invsible and see a real opportunity here to build something more automated and streamlined. Many existing solutions still involve a human in the loop with thousands of staff to manage much of the workflow. WeCo is the first of its kind to automate these processes for companies and has already started doing so with a 2 person team.

Highlights:

  • The AI agent was trained using Kaggle competitions and outperforms 50% of Kagglers in public leaderboards, demonstrating commercial viability and effectiveness.

  • WeCo's AI agent streamlines AI implementation, reducing the process from 3-6 months and costing hundreds of thousands of dollars to 2-6 hours at a reduced cost.

  • The founders, PhDs from UCL, lead a strong team with deep AI expertise, supported by angel investors from DeepMind and Meta AI.

  • The market for autonomous AI agents is expected to grow significantly, with an estimated CAGR of 43.0% from 2023 to 2028.

  • The company has 500+ users on the waitlist and 170 enterprise customers in the pipeline.

Deal Stage: Seed
Round Size: £3M
Valuation: £15M valuation cap at 20% discount
Pitch deck: Link
Minimum Ticket: $1,000
Co-Investors: Twin Path Ventures, XTX Ventures, Several Deepmind partners
Fees: 4% fee + 20% carry

This will be considered a soft commitment. Upon submission, your details will be forwarded to the fund managers overseeing the deal. They will then provide you with the pitch deck, investment memo, deal sheet, and all necessary information for you to research this opportunity thoroughly. Once you are satisfied, you can submit your hard commitment directly to the fund managers, who will then secure your participation in the deal.

PRE-IPO PICKS

Acorns

Blurb: We are delighted to share our latest pre-IPO investment opportunity into Acorns, a leading micro-investing app well-known for focusing on financial wellness for younger generations.

We have been granted exclusive access to $3.33M secondary shares at the top of the preference stack at a 40% discount compared to the last priced round.

Details:

  • Seller: Louise Hill, founder of UK FinTech GoHenry, posted its recent acquisition by Acorns.

  • Shares: 250,000 preference shares (G-F)

  • Purchase Price: $10.48 per share—a 40% discount compared to the last funding round price of $17.00 per share, valuing Acorns at $2.72B.

  • Total Allocation: $2.62M

Highlights:

  • Our acquisition price is substantially lower than all market comparisons, including a small package on EquityZen priced at $17.50 per share.

  • Post-acquisition of GoHenry, Acorns now serves over 6 million paying subscribers and holds a significant market share.

  • Acorns has consistently demonstrated robust annual revenue growth of over 30%, with projections indicating EBITDA profitability by CY24.

  • With over $6.3 billion in assets under management and ongoing strategic acquisitions, Acorns is poised for an IPO, estimated within the next 18-24 months.

This opportunity not only offers a promising entry point into a high-growth, soon-to-be profitable company but also leverages a strategic purchase from a truly inspirational entrepreneur, Louise Hill, who is selling less than 10% of her overall shareholding.

We can provide access to Q4 2023 and Q1 2024 investor updates upon request.

Deal Stage: Secondary
Valuation: $2.72B
Minimum Ticket: $5,000
Fees: 4% fee + 20% carry
Deadlines: Bank wire deadline is May 28, 2024

This will be considered a soft commitment. Upon submission, your details will be forwarded to the fund managers overseeing the deal. They will then provide you with the pitch deck, investment memo, deal sheet, and all necessary information for you to research this opportunity thoroughly. Once you are satisfied, you can submit your hard commitment directly to the fund managers, who will then secure your participation in the deal.

ENTREPRENEUR FIRST PICKS

Zoiya

Blurb: Zoiya is transforming the future of video advertising with AI-powered product placement.

Stage: Pre-Seed
Valuation: £6.4M pre-money (ASA, EIS available)
Investment memo: Link
Founders: Josiah & Tiffany
Demo Day video: Link
Minimum Ticket: £2,500
Fees: 4% fee + 20% carry
Deadlines: commitments by 24th May and wires by 30th May

This will be considered a soft commitment. Upon submission, your details will be forwarded to the fund managers overseeing the deal. They will then provide you with the pitch deck, investment memo, deal sheet, and all necessary information for you to research this opportunity thoroughly. Once you are satisfied, you can submit your hard commitment directly to the fund managers, who will then secure your participation in the deal.

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ENTREPRENEUR FIRST PICKS

Zola

Blurb: Zola is transforming elderly care with AI agents that automate admin and predict resident health decline. Zola Health have developed partnerships with 5 providers spanning 3,000 residents. Their platform cuts admin time by 90%, whilst improving care quality and compliance.

Stage: Pre-Seed
Valuation: £7.2M (minus 10% discount through ASA, EIS available)
Investment memo: Link
Data room: Link
Founders: Cameron & Zameer
Demo Day video: Link
Minimum Ticket: £2,500
Fees: 4% fee + 20% carry
Deadlines: commitments by 24th May and wires by 30th May

This will be considered a soft commitment. Upon submission, your details will be forwarded to the fund managers overseeing the deal. They will then provide you with the pitch deck, investment memo, deal sheet, and all necessary information for you to research this opportunity thoroughly. Once you are satisfied, you can submit your hard commitment directly to the fund managers, who will then secure your participation in the deal.

ENTREPRENEUR FIRST PICKS

Assuric

Blurb: Digital health compliance in days, not months. In just three months, two of Assuric’s customers have gone from zero to fully compliant, and are deploying AI health-tech into hospitals.

Stage: Pre-Seed
Valuation: £7.4M (minus 10% discount through ASA, EIS available)
Pitch deck: Link
Founders: Paul & Matt
Demo Day video: Link
Minimum Ticket: £2,500
Fees: 4% fee + 20% carry
Deadlines: commitments by 24th May and wires by 30th May

This will be considered a soft commitment. Upon submission, your details will be forwarded to the fund managers overseeing the deal. They will then provide you with the pitch deck, investment memo, deal sheet, and all necessary information for you to research this opportunity thoroughly. Once you are satisfied, you can submit your hard commitment directly to the fund managers, who will then secure your participation in the deal.

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