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blueskyequities.com

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Investments

16

Portfolio Exits

1

About Bluesky Equities

Bluesky Equities is a private investment company that makes direct investments in both private and public companies.

Bluesky Equities Headquarter Location

1700 521 Third Avenue SW

Calgary, Alberta, T2P 3T3,

Canada

403-263-4337

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Latest Bluesky Equities News

Vistara Growth Leads C$30M Growth Capital Financing for Reach, a Global E-Commerce Payments Enabler

Apr 19, 2022

12 Apr at 2:49 pm We are thrilled to announce that we are supporting Reach , a global e-commerce payments enabler, by leading the Company’s C$30 million equity and debt growth financing. Reach’s mission is to tear down entry barriers for businesses that want to go global and seamlessly connect them to new markets and customers. Reach has built a payments platform that allows its clients to provide each shopper with their own localized experience – including local currency pricing and payment methods -leading to higher conversions and a lower cost for merchants. To read more about why we invested in Reach, we have outlined our thesis here. The Company was also recently profiled by the Globe and Mail in connection with the fundraise which you can read here (Paywall) Read the Press Release Vistara Growth Leads C$30M Growth Capital Financing for Reach, a Global E-Commerce Payments Enabler Reach , the leading global ecommerce payments enabler, has secured a $30 million investment, as it bids to accelerate its mission of unlocking a global customer base for merchants through a streamlined payments, tax and fraud platform. The round, led by Vistara Growth, includes investment from Bluesky Equities, Tribune Capital, and Rising Tide. The capital will be used to dramatically scale up Reach’s development teams, with a focus on merchant success and onboarding, as well as expansion into new shopper geographies to help grow local acquiring networks for both merchants and partners. With ecommerce cross-border transactions set to surge to an estimated $1.2 trillion in 2022, consumer trust in foreign merchants has never been higher, with more customers than ever looking beyond their own localities for their ideal purchase. However, despite increased demand, many merchants continue to see cross-border ecommerce as complicated and expensive, while potential customers increasingly abandon carts on discovering the inability to transact in their own local currency, or when redirected to an unknown third-party checkout. What’s more, should a consumer overcome these hurdles, the transaction is often rejected when foreign payment processors are not integrated with popular local payment methods. Reach’s seamless checkout experience provides customers with a localized experience leading to higher conversions and lower costs through the ability to dynamically transact in over local 120 currencies with no currency risk and true local processing in more than 40 markets. Sam Ranieri, CEO at Reach, comments: “Our pioneering solutions are helping companies to meet growing global customer demand through localized payment methods, optimized checkout conversions, and best-in-class fraud prevention services. “Ecommerce giants, such as Apple, Amazon, Netflix, & Spotify to name a few, have the resources to open operations in every new market to set up local processing, have large treasury teams dedicated to managing currency risk, and heavyweight legal teams to comply with every country’s regulations and tax structures. The vast majority of businesses do not, thus creating a large competitive disadvantage. “Our unique platform allows companies to leverage our vast entity and banking network, unlocking the true power of local currency and local payment processing while eliminating the complexity, cost, time, and risk to set up directly. “We are proud of bootstrapping to significant scale and achieving a fourth consecutive year of 50% year-on-year growth. With demand accelerating, it was time to bring on experienced financial partners to help build on the foundations for our next phase of growth.” Agustin Farias, VP of International at Everlane, comments: “We’ve worked with Reach and the whole team has been an extension of our business. Time and time again, it has been a key partner in our international growth and we are excited to see it fulfil the ambitious plans for expansion into new markets that will only be a positive for its merchant partners across the globe.” The development of Reach’s dynamic, scalable solutions have helped businesses accept cross-border payments through localized processing, providing access to optimal foreign exchange currency services – increasing conversion rates and allowing small and medium-sized businesses to compete with some of the biggest names in the industry. Noah Shipman, Partner at Vistara Growth, commented: “Reach is a unique company that is loved equally by sales and marketing, international operations, IT and finance teams at its merchant and marketplace customers. It is rare to find a solution that materially improves customer experience and conversions, is easily integrated, and dramatically lowers the cost of delivery.” Derrick Hunter, President at Bluesky Equities, added: “Sam is building a strong team with incredible momentum in the fast-growing global payment processing market. Reach is a market disruptor that is doing something new, and Bluesky is excited to invest in this round.” Reach’s model and platform is trusted by customers including innovative fashion brands Revolve and Everlane, jeweller James Allen, and high-growth digitally native consumer startups Current Body and BlendJet. About Reach: Reach is the premier partner for ambitious, forward-thinking online businesses that want to connect with consumers worldwide, expand their brand, and increase global sales. The Reach Way removes the barriers, complexity, and upfront costs blocking merchants from unlocking the true power of “in-country” payment processing. By leveraging Reach’s vast entity and banking network, companies can expand their global ecommerce, reduce operational costs, and offload risk. About Vistara Growth Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in. For more information, visit  vistaragrowth.com Looking for Flexible Growth Capital? Read our case studies to learn how our growth debt and equity solutions have enabled our founders and helped our portfolio companies.

Bluesky Equities Investments

16 Investments

Bluesky Equities has made 16 investments. Their latest investment was in Reach as part of their Series A on March 3, 2022.

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Bluesky Equities Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/22/2022

Series A

Reach

Yes

4

3/17/2022

Seed VC - II

Honestdoor

$1.74M

No

1

11/10/2021

Series A

StellarAlgo

$10.35M

No

1

9/27/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

8/11/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

3/22/2022

3/17/2022

11/10/2021

9/27/2021

8/11/2021

Round

Series A

Seed VC - II

Series A

Seed VC

Seed VC

Company

Reach

Honestdoor

StellarAlgo

Subscribe to see more

Subscribe to see more

Amount

$1.74M

$10.35M

$99M

$99M

New?

Yes

No

No

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

1

1

10

10

Bluesky Equities Portfolio Exits

1 Portfolio Exit

Bluesky Equities has 1 portfolio exit. Their latest portfolio exit was Approved on August 16, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/16/2018

Acquired

$99M

1

Date

8/16/2018

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

Bluesky Equities Team

1 Team Member

Bluesky Equities has 1 team member, including current Chief Executive Officer, President, Derrick Hunter.

Name

Work History

Title

Status

Derrick Hunter

Chief Executive Officer, President

Current

Name

Derrick Hunter

Work History

Title

Chief Executive Officer, President

Status

Current

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