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Venture Capital
lumiacapital.com

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Investments

38

Portfolio Exits

9

Funds

7

About Lumia Capital

Lumia Capital invests in later-stage Internet and software companies targeting emerging markets experiencing breakout growth. The company employs a hands-on value add strategy, working with management teams by pairing Silicon valley insights and contacts with global knowledge sharing to propel companies through later stage challenges and opportunitiesl

Lumia Capital Headquarter Location

116 New Montgomery Street Suite 600

San Francisco, California, 94105,

United States

415-293-8188

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Latest Lumia Capital News

Investment Insights: How to make your startup investment ready, with Lumia Capital

Oct 6, 2020

Investment Insights: How to make your startup investment ready, with Lumia Capital Nikki Thompson 6th October 2020 (Last Updated October 6th, 2020 14:39) Sponsored by Hub71 Share Article American venture capital firm Lumia Capital is the kind of investor that startups dream about: they focus on the people as well as the business. And, while they understand that the US will always be a strong and vibrant market for them, they also see huge opportunities for startups in upcoming markets – like the United Arab Emirates with its established regulatory frameworks and huge market potential. Partnering with thriving tech ecosystems and financial centres is one of the top ways that Lumia keeps its finger on the pulse in the tech world, while also keeping an eagle eye on lucrative potential investments in the pipeline. One such financial centre is Abu Dhabi Global Market (ADGM) and its twinned tech ecosystem, Hub71 – two organisations attracting the attention of global tech startups and VCs worldwide. Lumia Capital’s Christopher Rogers spoke to Verdict about what he looks for when investing in a startup, and why Abu Dhabi is a great place for investors; and startups alike. How should startups make themselves investment ready? We have investment opportunities around the world, we are not just MENA investors. But we’re also very choosy about where we invest. That means in the universe of deals we see, the options for us are relatively small, so few deals are applicable to us. But the keys for us are a relative maturity from a revenue perspective and being part of a financial centre. That could be a Delaware corporation or a UK entity – It just needs to be something that is globally recognised. So it’s great that ADGM runs a world-class regulatory regime for startups – it’s a huge selling point. ADGM has done a great job putting in place a common sense approach and then getting the word out. Now, obviously, the word will have to get out more and more to be acceptable. As for being investment-ready, when you are a Series B or Series C type company, you should be actively making your decisions on the data you derive from the business. So at that point, you have revenue, you have customers. You have some sense of the product that you’re selling and where it can develop, the geographic areas that get traction, and what segments of the population are getting traction. What style of approach do you have with startups and their founders? Because we invest at the later stage, we don’t base our decisions on a hunch or an intuition. Based on the numbers, we can look at comps and derive valuations. But we wouldn’t be talking to them if we didn’t think it was in an area where growth could arise. We could pick a zillion sectors, but it has to be an area where we believe there’s growth and we tend to focus on enterprise SAS areas where there’s been a sustained pattern of new efficient innovative ways of doing business. But the people are also important, and what I look for is a team. There tends to be a stereotype of the “extroverted startup leader” who is constantly cheering on the team. Being an introvert myself, I look for the person who is taking the inbound, whether that’s from the customer or the employees, or the product – the person who’s got the open mind and the open ear to hear what’s really going on in the market and to be the listener, rather than purely the talker. Do you, as a Partner, like to meet startups in person? Yes, it’s actually important to meet them as an investor at our stage. I do it because I want to add value to the companies where I invest. And typically, my path to doing that is through the management team. It’s not hard to meet people and I always make time for that. They want to meet us because we have written some cheques and so they know there’s value in that. And it isn’t that we are any better or worse than their local funders; it’s just that what we bring is a bit different. And so “deal flow” is relatively easy. There are times when I meet exceptionally smart people, but we end up speaking past each other, simply because there is no connection. As a venture capitalist, it’s important to bring efficiency to decision making. If every sentence is a puzzle, it’s not efficient. So there are times, if I can’t communicate efficiently almost from the outset, then that deal isn’t going to get done. What have been the benefits of being in the Hub71 ecosystem? I am very lucky to have developed good relationships with the companies we invest in. I think the Hub71 concept is one where you have a strong and centralised focus on working together, whether that’s the Hub71 involvement or them helping startups network with other Abu Dhabi entities. So it has succeeded. They’ve put in place a real structure from top to bottom where everybody is on board and it has moved quickly. So there is a proper ecosystem and you can meet other investors. And then you have the regulators nearby. It really is an amazing accomplishment. It’s hard to enumerate the things I get out of each visit, but it always ticks more than one box. Has Covid-19 changed the way that you invest? It absolutely changed the way we invested. We really put things on freeze in terms of new deals with the belief that we are not distressed investors, [looking for] companies in trouble that need funding at the last minute. We still don’t really have a sense of the economic toll. But we’re seeing more information that we do understand and we’re still talking to companies. A community of founders, investors and business enablers that form a unique technology ecosystem strategically located in Abu Dhabi.

Lumia Capital Investments

38 Investments

Lumia Capital has made 38 investments. Their latest investment was in CrushDynamics as part of their Seed VC on April 4, 2022.

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Lumia Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/29/2022

Seed VC

CrushDynamics

$3.6M

Yes

2

2/3/2020

Series B

Kitopi

$60M

Yes

14

10/19/2018

Series C - III

EatStreet

$6.09M

No

1

8/15/2018

Series A - III

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$99M

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10

8/1/2018

Series A

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$99M

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10

Date

4/29/2022

2/3/2020

10/19/2018

8/15/2018

8/1/2018

Round

Seed VC

Series B

Series C - III

Series A - III

Series A

Company

CrushDynamics

Kitopi

EatStreet

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Amount

$3.6M

$60M

$6.09M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

2

14

1

10

10

Lumia Capital Portfolio Exits

9 Portfolio Exits

Lumia Capital has 9 portfolio exits. Their latest portfolio exit was June on January 12, 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

1/12/2021

Acquired

$99M

8

11/23/2020

Acquired

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$99M

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10

11/1/2020

IPO

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$99M

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0

8/17/2020

Acquired

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$99M

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10

3/26/2019

Acquired

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$99M

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10

Date

1/12/2021

11/23/2020

11/1/2020

8/17/2020

3/26/2019

Exit

Acquired

Acquired

IPO

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

8

10

0

10

10

Lumia Capital Fund History

7 Fund Histories

Lumia Capital has 7 funds, including Lumia Capital 2014 Fund (Delaware).

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/17/2015

Lumia Capital 2014 Fund (Delaware)

$5.05M

1

6/17/2015

Lumia Capital 2014 Fund

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$99M

10

4/1/2014

Lumia Telescope

$99M

10

Lumia Capital Constellation Fund

10

Lumia Capital Fund II

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10

Closing Date

11/17/2015

6/17/2015

4/1/2014

Fund

Lumia Capital 2014 Fund (Delaware)

Lumia Capital 2014 Fund

Lumia Telescope

Lumia Capital Constellation Fund

Lumia Capital Fund II

Fund Type

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Status

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Amount

$5.05M

$99M

$99M

Sources

1

10

10

10

10

Lumia Capital Team

1 Team Member

Lumia Capital has 1 team member, including current General Partner, Peter Weed.

Name

Work History

Title

Status

Peter Weed

General Partner

Current

Name

Peter Weed

Work History

Title

General Partner

Status

Current

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