Finally, SOSV Gets Noticed
SOSV, the fund behind HAX is a “B2B brand” since it creates accelerators and rarely invests directly. Until recently it wasn’t showing up clearly in rankings and databases and was flying under the radar. Our team worked on getting our 500+ investments listed, and finally (drumroll) SOSV came out of nowhere and became the No.3 most active seed fund in the world. Ah! Databases. There is no public ranking for those yet, but it is likely SOSV is the No.1 global seed investor for both Life Sciences (IndieBio) and Hardware (HAX).
Our data people also reported that our newest fund has over 300 founders from 55 countries:
- 45% of them are from USA, 55% from outside, including 33% from emerging markets.
- The top 6 countries were: USA, China, Canada, India, France and the UK
- The top 10 countries (out of 55) represented 76% of founders so there is quite a long tail.
It is probably fair to call SOSV a global investor.
Of course the real deal is cash-on-cash IRR, but we’ll need a bit more time since exits often take 7-8 years… Let’s say that our LPs seem pretty happy with the early IRR, that HAX just scored its 7th million-dollar Kickstarter (note: less than 100 happened since 2009 for technology projects) and that we’re looking into possible early IPOs. For the rest, only time – with luck and effort – will tell!