Subscription Economy Investors

We fund recurring models (SaaS companies, D2C Subscriptions, Service businesses) with at least $10k MRR.

Cabra VC is a venture capital firm focused on subscription-based startups in the USA and India. We invest in early-stage post-revenue companies and support young teams to grow rapidly. Our team has more than 10 years of successful experience of joint work. We have a deep knowledge of building and running subscription-based companies from scratch. Before setting up Cabra VC in 2016 we launched a wide range of IT and Telco services and attracted millions of subscribers that generate hundreds of millions of dollars revenues to date. All that makes us a strong partner for a startup at any stage.

We finance SMEs and digital businesses across sectors including SaaS and subscription based, D2C, eCommerce, Cleantech, EV and infrastructure, Edtech, Healthech, HRIS and Payroll/EWA, cloud-kitchen, QSR, etc with at least $8,000 MRR / $100,000 ARR and 12 months of vintage.

We invest in B2B/B2D/SaaS. i.e., only business software and APIs and tools than enable the building of software. We don’t invest in consumer start-ups, or subscription services that have elements of recurring revenue but are not primarily software products. SaaStr Fund invests in 4-5 awesome SaaS start-ups a year, generally in the $0.1m to $2m ARR range. Before $10k MRR is usually a bit too early for us, and after $2m ARR or so is usually a bit late and Series A. Pre-revenue is too early. We can only invest if you have at least 10 Unaffiliated Customers, and ideally, $10k+ or more in MRR. We invest in founders that are a part of the SaaStr community. That’s probably you if you got here :). But if you’ve never heard of SaaStr, never read a SaaStr post, heard our podcast, or been to one of our events ... there are probably better sources of capital. We are OK with startups based anywhere in the world (SaaS has flattened), but prefer folks that come to Bay Area frequently. It does make it easier to recruit, fundraise, partner, etc. At least in normal times.

The company Bixin Investment is affiliated with is Bixin, the biggest off-chain crypto-wallet in China in terms of users. Bitcoin deposited on Bixin is about the same size of the biggest exchanges’. We have the largest OTC trading volume in China. It’s a one-stop comprehensive crypto platform: viewing market stats, social networking, shopping with cryptos, subscriptions to pay-to-view columns, etc. As one of the early players in the blockchain industry, Bixin has resources and influence across the whole blockchain ecosystem: crypto wallet, exchange, mining pool (once holding 5% hashpower of the whole web), and vertical media covering blockchain and cryptos. Founders of Bixin are also early bitcoin adopters and wield big influences with their large followers base on Weibo (twitter’s counterpart in China). Our exchange KKEX is developing very fast and we aim to make it to the top 5 in China within this year. Bixin Investment has very good relationships with other top level investment firms.

We invest in recurring revenue based startups. SaaS, subscription models. We like bits before atoms. Sector Agnostic. Already in Latam or wanting to tap into the Latam market.

SpinUp Partners Ltd is a venture capital firm investing in early-stage technology companies with strong teams and clear global potential. Targeting: Russia, Asia, USA, Europe.We provide support to companies, accelerating their growth, leading them to global market.Areas of our focus: Internet & Mobile, Internet of things, Big Data, Artificial Intelligence and Robotics, Clean Technology, New Materials & Nanotechnologies.We are ready to co-invest with other venture funds and business angels.Most of our investors have close connections to the leading Russian technology university – Phystech.Subscription is still ongoing. We are looking for smart money, creative and inspired people.

Shasta Ventures is an early-stage venture capital firm with over $1 billion under management and a 20-year track record of investing in groundbreaking startups. The firm focuses on sectors such as SaaS, cybersecurity, infrastructure, data intelligence, and consumer subscription services. By concentrating on these areas, Shasta Ventures aims to provide more than just capital, offering deep partnerships to help elevate their portfolio companies.

Atlanta Ventures is a venture capital firm dedicated to empowering entrepreneurs to start, grow, and learn. Their mission is to systematically start and grow successful subscription companies by combining talented entrepreneurs with a proven methodology. They aim to help create the next $100 million business by co-founding companies with driven founders in a collaborative environment. In addition to their investment activities, Atlanta Ventures provides content, tools, and events to equip entrepreneurs and empower the startup community. Their portfolio includes notable companies such as Calendly, Rigor, SalesLoft, and Terminus. The firm is also involved in revitalizing the South Downtown area of Atlanta through initiatives like the opening of ATV Sylvan, a flexible office space for entrepreneurs.

Inventures Group is a venture capital firm specializing in investments in seed, early stage, pre-venture stage and the first round. The firm does not invest in hardware companies. It does not invest other people’s money. The firm seeks to invest in the technology sector and focuses on internet software companies with software-as-a-service or subscription business models in particular. It occasionally invests in consumer-facing projects as well (often ad-supported). The firm prefers to invest in companies based in the Bay Area. The firm seeks to invest between $0.025 million and $0.25 million per transaction in companies having enterprise value less than $5 million. While investing in the pre-venture stage, it invests in the form of convertible notes with a conversion cap of a similar amount. The firm also considers follow-on financings but often below pro-rata share. It typically co-invests with other venture capital firms. It prefers to take a seat on board of directors of its portfolio companies. Inventures Group was founded in 1998 and is based in Palo Alto, California.

Offline Ventures is a venture capital firm and studio co-founded in 2020 by Dave Morin, Brit Morin, Nate Bosshard, and James Higa. The firm focuses on investing in and incubating early-stage technology companies, particularly those developing health technology solutions. Operating with a rolling fund structure, Offline Ventures allows limited partners to make quarterly subscription commitments, providing flexibility and continuous capital flow.

Sambrinvest S.A. is a private equity and venture capital firm specializing in direct and fund of funds investments. Within direct investments, it focuses on startup, spin-out, spin-off, growth capital and turnaround investments. It does not invest in the retail, hospitality or banking and insurance industries. It invests in the following sectors: Agri-Food, audiovisual, gaming, automotive, biotechnology, pharmaceuticals, wholesale, construction, digital, environmental, alternative energy, manufacturing, computing, electronics, services, services to people, tourism, transportation, logistics and real estate. The firm is also open for investments in other sectors. The firm seeks to invest in small and medium sized companies in the Charleroi Sud-Hainaut and Thuin districts of Belgium. It invests in the form of a minority stake, subordinated loan or participating capital loan, subscription to a bond issue, unsecured loan or repayable advance, and participation in the acquisition of industrial property rights. It typically invests at most €1.25 million ($1.70 million) in companies with a turnover below €50 million ($68 million). Sambrinvest S.A. was founded on January 9, 1985 and is based in Gosselies, Belgium.

Astronaut is a unique crypto investment service which seeks to capitalize on the growth and market adoption of cryptocurrencies and Initial Coin Offerings (ICOs). In 2017 alone, over $1.3 billion has been raised in the ICO market - almost double that of traditional venture capital. While coin offerings have benefited from the success of Ethereum and other cryptocurrencies, there remains a significant need in the market for a due diligence-backed investment methodology to avoid boom and bust cycles. Astronaut seeks to establish a streamlined offering, whereby both retail and institutional grade investors can participate in a variety of research-backed tokens and currencies through one simple channel, avoiding the need for their own due diligence and subscription process. Astronaut has a focus on transparency and analysis, relying on strict criteria which guides the placement of funds within our portfolio. Utilizing our company-owned research team, Picolo Research, we maintain the highest of due diligence standards to ensure we maximise risk-adjusted portfolio returns.

I invest in any sector as long as it is not hardware related. I prefer subscription based business models with at least $30K MRR.

Automotive Ventures is a global seed-stage mobility investor dedicated to partnering with exceptional founders in the automotive and mobility sectors. With over 25 years of experience in the auto industry, the firm has established a robust portfolio comprising 39 companies. Their investment approach is characterized by an average initial check size of $250,000, reflecting a commitment to nurturing early-stage innovations. The firm has managed three distinct funds, including the Kinetic DealerFund I in 2023, Axion Ray Mobility Fund I in 2022, and WarrCloud Fund I in 2021. Automotive Ventures' investment thesis spans several key areas: Connectivity, Cybersecurity & Compliance; Autonomy, Robotics & AI; Shared Assets, Subscription & Convenience Economy; Decarbonization & New Energy Sources; Evolution of Auto Commerce; Smart City & Urban Mobility; Industrial Technology; and The Dealership of the Future. This comprehensive focus underscores their dedication to driving transformative change across the mobility landscape. The firm's value proposition is built upon three core differentiators: Industry Expertise, Robust Network, and Founder Empathy. Their deep industry knowledge provides founders with strategic guidance and market insights, while an extensive network offers credibility and access to potential customers and partners. Additionally, Automotive Ventures emphasizes a strong support system for entrepreneurs, recognizing the challenges of building a startup and offering steadfast support throughout the journey.

Nazara Technologies Ltd is one of the leading mobile games company headquartered in Mumbai, which is engaged in acquisition of, value addition to and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America. Our operations comprise of our subscription business, freemium business and Esports business. Our independent subsidiaries are Next Wave Multimedia, NODWIN GAMING and our investee companies include Hashcube Inc., Mastermind Sports Limited, Moonglabs Technologies Private Limited and HalaPlay Technologies Private Limited.

Jaguar Capital Partners is a private equity and venture capital firm specializing in early stage, management buyouts, secondary public stock offering, late venture, middle market, roll-ups, recapitalizations, acquisitions, spin offs, and divestitures, initial public offerings, mergers and acquisitions, reverse mergers, PIPES, and expansion capital investments. The firm does not invest in start-ups, distressed, and unprofitable companies. It seeks to invest in public and private companies. The firm prefers to invest in sectors such as, underwriting, claims, climate and longevity, insurance, technology including information technology, hardware, software, information technology operations and services, networking, middleware, applications, application development, and system integration; conditional access, billing and payment, terrestrial, ad sales, e-business including online payment, search marketing, subscription and paid content, affiliate, marketing, portals and ad based, blogs, instant messaging, social networks, e-commerce, content provider, content delivery network, and P2P; telecommunications including telco hardware, fixed line operator, mobile software developer, mobile operator, IPTV, VoIP, VAS, mobile search, mobile ticketing, mobile payment, mobile content, mobile music, and mobile television; financial services; transaction services; media & telecommunications (TMT); and payments industry. In payment industry it invests in software, electronic delivery systems, and processing that links government agencies, B2C, B2B, and healthcare including in transaction processing, payment networks, electronic funds transfer, bill presentment and payment, merchant acquiring services, card products, emerging payments, internet payments, fraud and risk management, asset recovery management, and billing and remittance processing services. The firm also invests in devices, electronic delivery systems, and services that link banks, card issuers, retail merchants, non-bank financial institutions, corporations, government agencies, technology companies, and specialized payment providers. It seeks to invest domestically and internationally with a focus on India and China. The firm seeks to make an initial investment between $5 million to $50 million in companies with enterprise value between $15 million to $100 million, revenues between $5 million and $50 million, and an EBITDA value greater than $3.0 million. It structures its investments in the form of debt and equity and also uses special purpose acquisition companies (SPACs) for investing in public companies. The firm seeks to acquire controlling stakes in the portfolio companies. It seeks board representation in the portfolio companies. The firm sources its capital through its personal capital and limited partners. Jaguar Capital Partners is based in Haverford, Pennsylvania.

Mercurius Media Capital is a venture capital firm specializing in fund of funds and direct investments. It focuses on mid venture, startup to series A, late venture, emerging growth, venture capital funds and early venture investments. It specializes in growth capital investments. The firm prefers to invest in advertising, media sectors providing brand building, consumer products & DTC brands, marketplaces & subscriptions, wellness, beauty, personal care, food & beverage, pet, med-tech devices and Consumer fintech & proptech. The firm seeks to invest in United States based companies. It prefers to invest between $1 million and $10 million in companies with minimum enterprise value of $20 million. Mercurius Media Capital was founded in 2023 and is based in Redwood City, California.

Paris Angels Capital SA is a venture capital firm specializing in seed/startups and growth capital investments. The firm seeks to invest in all sectors with a focus on technology, telecommunications, information technology, biotechnology, medicine, services, and financial services. It prefers to invest in France. The firm invests between €0.20 million ($0.27 million) and €0.40 million ($0.53 million) by way of subscription in capital increases in total fund-raising rounds of about €1 million ($1.33 million) in companies with enterprise values of up to €5 million ($6.63 million). It seeks to acquire stakes of between five percent and 30 percent in its portfolio companies. The firm may co-invest with Members of Paris Business Angels, other networks or companies of Business Angels, funds, and investment firms. It exits its investments in about three to five years through a trade sale or sale to an investment firm or to a venture capital firm. The firm makes balance sheet investments. Paris Angels Capital SA was founded in 2008 and is based in Paris, France.

Tippet Venture Partners (TVP) is a venture capital firm based in Palo Alto, California, specializing in investing in private and public companies to achieve long-term capital gains. Managed by General Partner Andy Sheehan, TVP focuses on partnering with exceptional management teams that are developing innovative solutions to address significant market challenges. The firm is committed to providing patient capital to entrepreneurs aiming to build leading companies. TVP's investment strategy emphasizes sectors such as technology, aerospace, and defense, with a particular interest in companies that redefine and enable large new markets. Notable investments include H55, a manufacturer of electric propulsion and battery management solutions for aviation, and Levitate, a subscription-based marketing platform for small businesses. TVP's approach is characterized by a collaborative partnership with portfolio companies, offering strategic guidance and resources to foster growth and success.

Blue Heron Research Partners is an international leader in qualitative due diligence. We are an independent research firm that works on an exclusive basis with our clients, and we’re proud of our reputation for integrity, ethical conduct, and professional excellence. What makes Blue Heron different is that we apply the fundamentals of investigative journalism—detailed interviews and meticulous public records searches—to uncover actionable insights about managements and companies. Our bespoke services include management due diligence, business due diligence, public records due diligence, portfolio monitoring, pre-employment checks, conference coverage, and industry trends reports. We also have an extensive library of management checks available for individual consumption or via a subscription.

Bond Capital Partners Limited is a private equity firm specializing in providing growth capital, acquisition finance and mezzanine. It also provides direct equity subscriptions and debt instruments for small and medium-sized businesses (“SME”), including debt with warrants, convertible loans, direct equity or a combination thereof, subordinated loan notes, with detachable warrants to late stage, mid-market enterprises are capable of a realization event (IPO, trade sale, recap) within a pre-agreed timetable, typically within 60 months.. The firm’s sector focus is on media, technology, and services. The firm prefers investing in companies based in the UK and Europe focusing on Western Europe; and North America. The firm prefers investing between £0.5 million ($6.26 million) and £10 million ($12.52 million) in companies having enterprise values of £5 ($7.86 million) 25 million ($39.34 million). The firm prefers to have minority stakes in companies. It also makes co-investments and exits its investments within 36 months. It typically seeks board observer status on portfolio companies and/or full information rights and also assists companies in path to IPO/trade sale and recap. Bond Capital Partners Limited is based in London, United Kingdom with an additional office in Hamilton, Bermuda.

Cardinal Equity Partners, LLC is a private equity firm specializing in management buyouts, later-stage, mature, and emerging growth, industry consolidation, recapitalizations, divestitures, and spin-offs of divisions, subsidiaries, and product lines; family legacy situations, and acquiring lower and middle market businesses. The firms prefer to take a majority stake in its portfolio companies. The firm does not invest in start-ups, first-stage venture investments, and sectors like software, heavy manufacturing, automotive suppliers, bankruptcies, consulting, and companies with a high dependency on international sales. The firm typically invests in industries such as consumer packaged goods, recreational vehicles, marine products, horticulture distribution, specialty pharmacy distribution, publishing, healthcare services, outdoor furniture, water treatment, durable goods distribution, financial services, audio products, home improvement, pet products, glass fabrication, and subscription-based businesses. The firm typically invests in companies based in the Midwest and the central portion of the United States with a focus on companies located within 250 miles of Indianapolis and in the Great Lakes, MidAtlantic, Southeast, and Northeast regions. It seeks to invest between $2 million and $15 million of equity capital in companies with annual sales between $5 million and $50 million, EBITDA between $1 million to $10million, historical revenue growth of more than 10 percent per annum, and had a minimum three years of positive cash flow. For transactions requiring higher amounts of equity, the firm will partner with other investors who share its patient capital mentality. It seeks an advisor or a board seat and a controlling stake in its portfolio companies. Cardinal Equity Partners was founded in 1993 and is based in Indianapolis, Indiana.

Nine is Australia’s largest locally owned media company with investments spanning television, video on demand, print, digital, and radio. Nine’s assets include the Nine Television Network, video on demand platform 9Now, talkback radio stations 2GB, 3AW, 4BC and 6PR, major mastheads such as The Sydney Morning Herald, The Age and Australian Financial Review, digital properties such as nine.com.au, 9Honey, Pedestrian.TV and CarAdvice, subscription video platform Stan, and majority investments in Domain and Future Women

Karnataka Information Technology Venture Capital Fund (KITVEN Fund) is a State & Central Government financial institutions backed Venture Capital Fund (VCF) operating in the State of Karnataka since 1999. The Fund received subscription from premier institutions like Karnataka State Industrial and Infrastructure Development Corporation Limited - KSIIDC, Karnataka State Financial Corporation - KSFC, Small Industries Development Bank of India - SIDBI, Karnataka Bio-technology & Information Technology Services (KBITS) etc.