Correlation Ventures Funds Six Companies in Q2
July 19, 2012
PALO ALTO, CA--(Marketwire - Jul 19, 2012) - Correlation Ventures, the venture capital industry's predictive analytics pioneer, announces second quarter investments in six new portfolio companies. Investments ranged from medical devices company, AirXpanders, to flash memory developer, Crossbar, and cloud security company, Sookasa. Correlation's Q2 investments ranged from seed stage financings in stealth mode startups to a growth stage financing in SAY Media, a rapidly growing digital publishing company. The six new companies demonstrate Correlation's desire to build a diverse portfolio.
Correlation Ventures leverages its predictive analytics to offer entrepreneurs and lead investors a unique value proposition, including co-investment decisions within two weeks. The firm invests when at least one other venture capital firm makes its first investment in a company. Correlation has invested in 23 of an anticipated 75 companies from its $165 million inaugural fund. The firm has made 10 investments in the first two quarters of 2012.
"We were delighted by how easy it was to work with the Correlation Ventures team, and I'd definitely recommend them to my peers," said George Minassian, CEO of Crossbar Inc. "We had commitments from several other world-class VCs and wanted to add more capital to the round without reinventing the wheel. Correlation provided a decision in two weeks, and, because of their proprietary analytics, we did not have to waste time repeating the due diligence already performed thoroughly by this round's lead VC. The firm's policy of not taking board seats allowed us to maintain the optimal governance dynamic that we already have."
"We are pleased to welcome six new companies to Correlation Ventures' portfolio in Q2," says Trevor Kienzle, co-founder and Managing Director of Correlation Ventures. "The new investments and our existing portfolio reflect our commitment to backing outstanding companies while achieving diversity in terms of market sector, stage, U.S. geography and VC co-investor. It's been heartening to see how our CEOs, our VC peers and others in the ecosystem have reacted to our unique value proposition."
ABOUT CORRELATION VENTURES
Correlation Ventures, a $165 million venture capital fund, leverages world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional co-investment capital to complete a financing round. The firm makes investment decisions in two weeks or less and offers reliability and transparency about reserves and its intentions to follow in future financings. Correlation Ventures invests across all industry segments, U.S. geographies and investment stages -- from seed through late stage. Current portfolio companies include Aldea Pharmaceuticals, Bunchball, edo interactive, Framehawk, Getaround, MOGL, SAY Media, Telly, and Virsto Software. Correlation Ventures has offices in San Diego and Palo Alto, CA. For more information, visit http://www.correlationvc.com and http://twitter.com/correlationvc.