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Venture Capital
FINANCIAL | Investment Firms & Funds
costanoavc.com

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Investments

132

Portfolio Exits

23

Funds

7

About Costanoa Ventures

Costanoa Venture Capital is an early stage investor in cloud-based services solving real problems for businesses and consumers. The firm is designed to deliver a unique value proposition to entrepreneurs: the flexibility to invest moderate amounts of capital and yet support companies over time; active collaboration with entrepreneurs around product market fit and initial market entry; and the support and patience to help them build real companies with real technology.The firm formally launched in December 2012 with an early-stage fund of $100 million.

Costanoa Ventures Headquarter Location

160 Forest Avenue

Palo Alto, California, 94301,

United States

650-416-6009

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Research containing Costanoa Ventures

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CB Insights Intelligence Analysts have mentioned Costanoa Ventures in 1 CB Insights research brief, most recently on Sep 18, 2019.

Latest Costanoa Ventures News

Things are heating up for Costanoa Ventures; closes two oversubscribed funds

Dec 1, 2021

Costanoa Ventures is seeing some of its best returns yet as it closed on two new funds, Costanoa Fund IV, a $225 million early-stage fund, and Opportunity Fund II, a $115 million funding investing in later rounds of portfolio companies. Greg Sands started the firm in 2012 as a sole general partner and told TechCrunch that all the way back to the first fund, it invested in companies, like Intaact, which was acquired by Sage in 2017 , and Datalogix, acquired by Oracle in 2014 , that established a pattern. Each fund since then has been better than the one before it, he added. These latest funds bring the firm’s total commitments to date to over $900 million. “It’s the opposite pattern from what happens,” Sands said. “Usually, your first or second funds are great small funds, but then you increase the fund size and never have the same returns.” Costanoa invests in enterprise software at the seed and Series A levels, focusing on areas like applied AI, SaaS, fintech, security, DevOps and data infrastructure. The firm was clear about its strategy, process and execution, which has enabled it to build a better team over time with a different set of strengths and diversity. Indeed, women now make up 60% of Costanoa’s team and almost 50% of its partners. “Even the first handful of hires looked like me, but we have worked hard, and Martina (Lauchengco) and I are the champions of driving that, and why that is a big part of our firm getting better over time,” Sands added. Over time, Costanoa’s strategy has included more earlier-stage investments, with as much as one-third going into companies at their formation or pre-seed stage. Some of that has targeted emerging markets and fintech and decentralized finance, and in companies where the first opportunity to invest might be the best one, Sands explained. He expects Fund IV to go into 30 to 35 new companies, while the Opportunity Fund will be invested into 12 to 15 of its current portfolio companies. Though the firm concentrates on early stage investments, having the option to make follow-on funding gives Costanoa the best of both worlds, Lauchengco said. “That’s what it means to be a long-term partner,” she added. “Oftentimes in the early stage, we have the first check and then it’s off to the races, but this way, we can stay partnered with them.” With Fund IV, Costanoa began making investments in Latin America and Africa and expanding its fintech practice to include cryptocurrency and web3-related companies. One of its first investments into Latin America was leading Plug Pagamentos’s seed round in November. Overall, the firm made 10 investments already from the fund, including co-leading Highnote’s $54 million Series A and participating in Coiled’s $21 million Series A announced in May. It also saw Roadster be acquired by CDK Global and Kenna Security exit to Cisco.

Costanoa Ventures Investments

132 Investments

Costanoa Ventures has made 132 investments. Their latest investment was in Leap Services as part of their Series A - II on November 11, 2021.

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Costanoa Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/19/2021

Series A - II

Leap Services

$2M

No

1

11/17/2021

Seed VC

Plug

$2.7M

Yes

1

10/13/2021

Series C

Lively

$80M

No

4

10/6/2021

Seed VC

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$99M

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10

10/5/2021

Seed VC

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$99M

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10

Date

11/19/2021

11/17/2021

10/13/2021

10/6/2021

10/5/2021

Round

Series A - II

Seed VC

Series C

Seed VC

Seed VC

Company

Leap Services

Plug

Lively

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Amount

$2M

$2.7M

$80M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

1

1

4

10

10

Costanoa Ventures Portfolio Exits

23 Portfolio Exits

Costanoa Ventures has 23 portfolio exits. Their latest portfolio exit was Roadster on June 02, 2021.

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

6/2/2021

Acquired

$991

7

5/14/2021

Acquired

19

4/14/2021

Acquired

10

00/00/0000

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10

00/00/0000

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10

Date

6/2/2021

5/14/2021

4/14/2021

00/00/0000

00/00/0000

Exit

Acquired

Acquired

Acquired

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Companies

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Valuation

$991

Acquirer

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Sources

7

19

10

10

10

Costanoa Ventures Fund History

7 Fund Histories

Costanoa Ventures has 7 funds, including Costanoa Ventures IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/1/2021

Costanoa Ventures IV

$225M

2

10/8/2021

Costanoa Ventures Opportunity Fund II

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$99M

10

12/6/2018

Costanoa Ventures Opportunity Fund

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$99M

10

9/14/2017

Costanoa Venture Capital III

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$99M

10

10/28/2015

Costanoa Venture Capital QZ

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$99M

10

Closing Date

12/1/2021

10/8/2021

12/6/2018

9/14/2017

10/28/2015

Fund

Costanoa Ventures IV

Costanoa Ventures Opportunity Fund II

Costanoa Ventures Opportunity Fund

Costanoa Venture Capital III

Costanoa Venture Capital QZ

Fund Type

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Status

Amount

$225M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Costanoa Ventures Team

1 Team Member

Costanoa Ventures has 1 team member, including current Founder, Managing Director, Gregory P. Sands.

Name

Work History

Title

Status

Gregory P. Sands

Sutter Hill Ventures, Netscape, and Cisco

Founder, Managing Director

Current

Name

Gregory P. Sands

Work History

Sutter Hill Ventures, Netscape, and Cisco

Title

Founder, Managing Director

Status

Current

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