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Angel Investor (Group)
FINANCE | Investment Firms & Funds
gaingels.com

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Investments

404

Portfolio Exits

3

Funds

1

Partners & Customers

1

About Gaingels

Gaingels is an organized group of accredited investors whose purpose is to mentor, support, and invest in companies founded and run by LGBT-Identifying individuals.

Gaingels Headquarter Location

43 West 23rd Street 2nd Floor

New York, New York, 10010,

United States

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Latest Gaingels News

Auto fintech Caribou raises $115 million in Series C funding, valuing company at $1.1 billion

May 20, 2022

Washington, UNITED STATES WASHINGTON, May 20, 2022 (GLOBE NEWSWIRE) -- Caribou, the auto fintech whose mission is to help people take control of their car payments, today announced it has closed $115 million in an oversubscribed Series C funding round, which brings the company’s valuation to $1.1 billion. The round was led by Goldman Sachs Asset Management (Goldman Sachs), with participation from new investors, including Innovius Capital and Harmonic, as well as existing investors, including Accomplice, CMFG Ventures, Curql Fund, Firebolt Ventures, Gaingels, Moderne Ventures, Motley Fool Ventures and others. Auto lending is the fastest growing consumer credit market in the U.S., with total auto debt having doubled to roughly $1.5 trillion in little more than 10 years. With the cost of car ownership soaring, Caribou is providing consumers with much-needed financial relief, saving its customers on average more than $100 a month on their auto loan through refinancing. The company is expanding its services across the auto financial landscape, recently launching its digital car insurance marketplace. “We are putting people in control of their auto finances, saving them thousands of dollars with a fast and easy process,” said Caribou CEO Kevin Bennett. “We’re proud of what we are building and grateful to have such a talented team and experienced group of investors backing our vision. We are just getting started.” Founded in 2016, Caribou (formerly MotoRefi) has rapidly grown its core auto refinancing offering by connecting car owners with lenders from credit unions, community banks and other trusted financial institutions. Caribou now also provides a quick and easy way to shop and compare car insurance from trusted national carriers in minutes with its new car insurance marketplace. By combining technology with expert lending and insurance teams, Caribou is prioritizing transparency and trust in the car ownership experience. Since closing its first auto loan for customers a little over four years ago, Caribou has refinanced more than $1.5 billion in loans, saving its customers over $100 million in total interest over the lifetime of their loans. The company has simultaneously scaled its business operations across Washington D.C. and Denver, as well as remotely, building a 500-person workforce, up from roughly 40 employees two years ago. The Series C funding round will help Caribou to continue its strong growth trajectory by investing in its platform, innovative new products and continuing to expand the team. “Caribou is building an important company with a great culture that helps consumers and lenders in an enormous market. That’s why we’re thrilled to be doubling down on our initial investment by leading Caribou's Series C funding round,” said Jade Mandel, Vice President within the Growth Equity business within Goldman Sachs Asset Management and a member of Caribou’s Board of Directors. “In a few short years, Caribou has established itself as the industry leader in auto fintech, already having saved customers more than $100 million on their car payments. We’re excited about the launch of its digital insurance marketplace and we can’t wait for what’s next.” “We couldn’t be more excited to join Caribou on its mission to put consumers in control of their car payments,” said Justin Moore, CEO of Innovius Capital. “With the costs of car ownership soaring, and macroeconomic headwinds negatively impacting people’s finances, we believe that it’s more important than ever to help people save money. Caribou has established itself as the go-to platform to refinance their auto loan and we are excited for all that is to come.” Caribou’s Series C round builds on a successful $50 million Series B that closed in May 2021, which was also led by Goldman Sachs. The Series C round brings the total funding Caribou has raised to more than $190 million since the company’s founding in 2016. About Caribou Caribou believes taking control of your auto loan and insurance payments should be simple and transparent. Through our partnerships with trusted lenders, like credit unions and community banks, we bring customers great rates and lower monthly payments, saving customers an average of over $100 per month on their car payments through refinance. Now, in addition to auto refinance, customers can discover more potential savings through Caribou’s new digital insurance marketplace. Caribou, incubated by QED Investors, is also backed by Accomplice, CMFG Ventures, Curql Fund, FireBolt Ventures, Gaingels, Goldman Sachs, Harmonic, Innovius Capital, Link Ventures, Moderne Ventures, Motley Fool Ventures and other great investors. About Goldman Sachs Asset Management Growth Equity Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Since 2003 the Growth Equity business within Goldman Sachs Asset Management comprising more than 75 individuals has invested over $13 billion in companies led by visionary founders and CEOs. We focus exclusively on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn .

Gaingels Investments

404 Investments

Gaingels has made 404 investments. Their latest investment was in Lumify Care as part of their Seed VC on May 5, 2022.

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Gaingels Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/20/2022

Seed VC

Lumify Care

$1.25M

Yes

1

5/20/2022

Series C

Caribou

$115M

No

5

5/18/2022

Seed VC

Because

$3M

Yes

Harlem Capital, North Coast Ventures, Studio VC, and Undisclosed Angel Investors

1

5/17/2022

Series B

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$99M

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10

5/13/2022

Angel

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$99M

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10

Date

5/20/2022

5/20/2022

5/18/2022

5/17/2022

5/13/2022

Round

Seed VC

Series C

Seed VC

Series B

Angel

Company

Lumify Care

Caribou

Because

Subscribe to see more

Subscribe to see more

Amount

$1.25M

$115M

$3M

$99M

$99M

New?

Yes

No

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Harlem Capital, North Coast Ventures, Studio VC, and Undisclosed Angel Investors

Sources

1

5

1

10

10

Gaingels Portfolio Exits

3 Portfolio Exits

Gaingels has 3 portfolio exits. Their latest portfolio exit was ATAI Life Sciences on June 18, 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

6/18/2021

IPO

$99M

17

7/29/2020

Acquired

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10

12/10/2019

Acquired

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10

Date

6/18/2021

7/29/2020

12/10/2019

Exit

IPO

Acquired

Acquired

Companies

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Valuation

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

17

10

10

Gaingels Fund History

1 Fund History

Gaingels has 1 fund, including UB Gaingels Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

UB Gaingels Fund I

$0.47M

1

Closing Date

Fund

UB Gaingels Fund I

Fund Type

Status

Amount

$0.47M

Sources

1

Gaingels Partners & Customers

1 Partners and customers

Gaingels has 1 strategic partners and customers. Gaingels recently partnered with Samba TV on June 6, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

6/30/2020

Partner

United States

Samba TV Strengthens its Commitment To Diversity, With Corporate Pledge And Strategic Investment From Gaingels

Samba TV has also partnered with Gaingels , a leading venture investment syndicate in service of the LGBT + community and its allies .

2

Date

6/30/2020

Type

Partner

Business Partner

Country

United States

News Snippet

Samba TV Strengthens its Commitment To Diversity, With Corporate Pledge And Strategic Investment From Gaingels

Samba TV has also partnered with Gaingels , a leading venture investment syndicate in service of the LGBT + community and its allies .

Sources

2

Gaingels Team

5 Team Members

Gaingels has 5 team members, including current Managing Director, Christopher Anderson.

Name

Work History

Title

Status

Christopher Anderson

Managing Director

Current

David Beatty

Managing Director

Current

Lorenzo Thione

Managing Director

Current

Colin Quinn

Investment Partner

Current

Misha Makara

Managing Director

Former

Name

Christopher Anderson

David Beatty

Lorenzo Thione

Colin Quinn

Misha Makara

Work History

Title

Managing Director

Managing Director

Managing Director

Investment Partner

Managing Director

Status

Current

Current

Current

Current

Former

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