Maveron
US $1.3 billion (2020) | |
| Website | www.maveron.com |
|---|---|
Maveron is an American venture capital firm that invests in consumer-only and early-stage companies, with offices in Seattle, Washington and San Francisco, California. The firm was co-founded by Dan Levitan and former Starbucks chief executive Howard Schultz in 1998.[citation needed]
Maveron invests in consumer-only businesses centered on technology-enabled products and services in commerce, education, and health and wellness. As of 2020, the firm had a total of $1.3 billion in assets under management (AUM).[1]
History
The firm was co-founded in Seattle by
for-profit universities, namely Capella University.[6] Maveron opened its San Francisco office in 2009.[7] Maveron's early investment in zulily led to November 2013 public offering of 22% of shares (for $4.5 million) worth over a billion dollars by December.[8] In 2014, the fund was featured on Forbes' top venture capital firms in the U.S., ranked #54 out of 100.[1] In 2019, the fund raised an additional $180 million to finance investments.[9] The firm often turns down surplus capital in order to ensure consistent investment delta (margin by which fund outperforms the stock market).[10]
Portfolio
Maveron's early investments include
Potbelly Sandwich Works.[13]
Active Maveron companies include
The Wrap, Thirty Madison, Two Chairs, and Wave.[9]
Exits include August Lock, Capella Education,
See also
References
- ^ a b Cook, John (2014-03-26). "Maveron's Dan Levitan has the Midas touch: Seattle VC named to list of top 100 investors". GeekWire. Retrieved 2020-04-19.
- ISBN 978-0-273-71041-7.
- ^ "Acquired | Starbucks IPO with Dan Levitan". www.acquired.fm. April 3, 2017. Retrieved April 10, 2020.
- ^ Miguel, Renay San. "Maveron's Levitan: Fortune favors the bold entrepreneur". USA TODAY. Retrieved 2020-04-19.
- ^ "Venture Capital for Seed and Early-Stage Consumer Companies".
- ^ Cadelago, Christopher (6 February 2019). "Schultz's toxic investments: For-profit college, tax shelter for the rich". POLITICO. Retrieved 2020-04-19.
- ^ "Venture firm Maveron opens San Francisco office". 18 November 2009.
- ^ Cook, John (December 23, 2013). "Maveron joins the billion-dollar club, one of 10 VC firms to generate big returns in 2013". GeekWire. Retrieved April 10, 2020.
- ^ a b c Clark, Kate (May 29, 2019). "Allbirds, Everlane investor Maveron turned away more than $70M for its latest fund". TechCrunch. Retrieved April 10, 2020.
- ^ Vardhana, Anarghya (May 31, 2019). "Why Maveron Turned Down More Than $70 Million to Stay Small". www.bloomberg.com. Retrieved April 10, 2020.
- ISBN 978-0-7432-3378-1.
- ISBN 978-1-59184-189-0.
- ISBN 978-0-13-146574-9.