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Venture Capital
felixcap.com

Investments

104

Portfolio Exits

9

Funds

5

About Felix Capital

Felix Capital is a venture capital firm for the creative class, at the intersection of technology and creativity, focused on opportunities in digital lifestyle.

Headquarters Location

27 Beak Street

London, England, W1F 9RU,

United Kingdom

44(0) 207 932 2138

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Latest Felix Capital News

A SaaS revolution is coming for the 99%

Jan 31, 2024

Julien Codorniou is a SaaS investor at Felix Capital in London, having previously worked for 11 years at Facebook and 6 years at Microsoft. He co-authored "The Kelkoo.com Success Story," published by Pearson in 2005. Hospital nurses. Construction crews. Garbage collectors. Factory workers. Flight attendants. Restaurant servers. An estimated 2.7 billion people work in an environment without regular access to a desk, a mobile phone, or a PC. And yet, shockingly, little technology is being designed for these frontline workers. Major tech players, investors, and entrepreneurs focused relentlessly on workplace innovation for white-collar workers like themselves for decades. This has brought a revolution in the office for a narrow band of employees while leaving far too many rank-and-file workers behind who’ve never been touched by what Bill Gates calls “the magic of software.” A blue ocean market for “IT that leaves no one behind” In 2015, I was part of the team that pioneered Workplace at Facebook, the company’s first SaaS venture. Initially targeting knowledge workers and tech companies, we serendipitously stumbled upon the untapped “frontline tech” market in 2016. This pivot proved strategic, amassing over 10 million paying users from renowned organizations like Starbucks, McDonald’s, Kering, Leroy Merlin, Walmart, Lixil, and Petrobras. Our original underestimation of this market segment proved to be a blessing in disguise as we embraced the competitive void it presented. I witnessed firsthand the rising demand for connectivity among frontline-heavy organizations of all sizes. Moreover, I saw the tangible impact frontline-friendly software had on employee engagement, retention, and productivity. Tech is on the cusp of a SaaS revolution for the 99%. Because this market is open and ready for disruption, I see an opportunity for savvy software entrepreneurs to build the Microsoft or the Salesforce of the frontline workers’ world. I see an opportunity for savvy software entrepreneurs to build the Microsoft or the Salesforce of the frontline workers’ world. Conventional wisdom held that building products for these workers could have been more efficient and impracticable due to the restrictive nature of their working environments and IT budgets. Still, a confluence of trends is changing that mindset. Not only is it becoming clear that tech can improve conditions for these employees, but also there is a mounting sense of urgency that the benefits of SaaS workplace solutions must be extended to those who have been overlooked. The pandemic brought into stark relief just how vital frontline employees (aka “critical workers”) are for keeping our lives and economy moving in ways that we had taken for granted for far too long. They watched as white-collar employees at the central office received increased workplace flexibility while they continued to grind away. John Waldmann, the CEO of Homebase, a leader in the frontline tech space, told me, “two-thirds of workers have not and will never work from home. The public conversation and technology investment are way over-indexed to hybrid work, which is your archetypal ‘high class’ problem affecting a limited number of workers. Everyone values flexibility, but for most workers, it means something entirely different — and technology can help.” A recent Microsoft report on frontline tech noted that 51% of non-management employees don’t feel valued, and more than 57% wish employers were doing more to address physical and mental exhaustion. A recent Beekeeper survey showed that four in 10 frontline workers have quit in the last year, and managers and head office staff don’t know how to fix it.

Felix Capital Investments

104 Investments

Felix Capital has made 104 investments. Their latest investment was in Castore as part of their Unattributed VC on November 29, 2023.

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Felix Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/29/2023

Unattributed VC

Castore

$184M

Yes

3

11/28/2023

Series B

Lassie

$25M

No

3

10/12/2023

Seed VC

LANCH

$6.9M

Yes

1

9/27/2023

Seed VC

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$99M

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10

7/17/2023

Series D - III

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$99M

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10

Date

11/29/2023

11/28/2023

10/12/2023

9/27/2023

7/17/2023

Round

Unattributed VC

Series B

Seed VC

Seed VC

Series D - III

Company

Castore

Lassie

LANCH

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Amount

$184M

$25M

$6.9M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

3

3

1

10

10

Felix Capital Portfolio Exits

9 Portfolio Exits

Felix Capital has 9 portfolio exits. Their latest portfolio exit was VanMoof on August 31, 2023.

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

8/31/2023

Asset Sale

$99M

5

9/8/2022

Acquired

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$99M

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10

6/13/2022

Corporate Majority

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$99M

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10

1/24/2022

Acquired

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$99M

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10

11/5/2021

Acquired

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$99M

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10

Date

8/31/2023

9/8/2022

6/13/2022

1/24/2022

11/5/2021

Exit

Asset Sale

Acquired

Corporate Majority

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

10

10

10

10

Felix Capital Fund History

5 Fund Histories

Felix Capital has 5 funds, including Felix Capital IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/8/2022

Felix Capital IV

$600M

1

1/15/2020

Felix Capital Fund III

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$99M

10

7/18/2019

Felix Capital Next A

$99M

10

7/6/2017

Felix Capital II

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$99M

10

6/3/2015

Felix Capital I

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$99M

10

Closing Date

6/8/2022

1/15/2020

7/18/2019

7/6/2017

6/3/2015

Fund

Felix Capital IV

Felix Capital Fund III

Felix Capital Next A

Felix Capital II

Felix Capital I

Fund Type

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Status

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Amount

$600M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Felix Capital Team

5 Team Members

Felix Capital has 5 team members, including , .

Name

Work History

Title

Status

Frederic Court

Advent Venture Partners, and Lazard

Founder

Current

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Name

Frederic Court

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Work History

Advent Venture Partners, and Lazard

Title

Founder

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Status

Current

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