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Venture Capital
pivotnorth.com

Investments

61

Portfolio Exits

14

Funds

5

About PivotNorth Capital

Pivot North is an early-stage venture capital firm that invests in high technology groups.

Headquarters Location

160 Forest Avenue

Palo Alto, California, 94301,

United States

650-206-8068

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Latest PivotNorth Capital News

FastAF Closes Series A Funding at $200 Million Valuation

Dec 9, 2021

New In-House Delivery Helps Facilitate Last Minute Holiday Shopping SAN FRANCISCO, December 8, 2021-- FastAF Technologies, Inc. (FastAF), the premiere quick commerce retailer for products and brands that help people live better, today announced the close of its Series A investment round that values the company at $200 million. Investors in this round include Luxor Capital, Interlace Ventures, EQT Ventures, PivotNorth Capital, Daversa Partners, former Benchmark venture partner and current Adobe CPO Scott Belskey, founder and CEO of global ad agency RG/A Bob Greenberg and former NBA star Baron Davis. Just in time for the holidays, FastAF is launching its own delivery service. Not only does the in-house delivery service create a better customer experience, it also enables shoppers to do last-minute shopping with delivery in minutes. FastAF will use a portion of the new funds to advance the brand's footprint within markets and further accelerate its growth initiatives, which include adding new customers, vastly expanding its selection of brands and products and growing the team. "FastAF has distinguished itself from the other quick commerce players by offering premium brands that our customers can't get anywhere else with the same speed and convenience available only from FastAF," said Lee Hnetinka, Founder and CEO of FastAF. "This new round of funding validates our goal of providing everyone with access to high quality products that make their lives better. We're thrilled about bringing on Luxor Capital, Interlace Ventures, Daversa, Scott, Bob and Baron in this round." Since launching, FastAF has established a strong presence in New York, Los Angeles and San Francisco. The company offers thousands of products from hundreds of brands on the FastAF app, many of which aren't available on other quick commerce platforms. Products available through FastAF are healthier, better for the planet and higher quality than the mass market items available on other quick-service commerce platforms or from corner convenience stores. The result is a highly curated list of coveted products from the most on-trend brands, delivered to shoppers in minutes. "FastAF is empowering a new way for consumers to shop for their favorite brands locally," said entrepreneur, investor and two-time NBA All-Star Baron Davis. "Retail commerce is fundamentally changing, and FastAF is at the leading edge of helping shoppers live their best lives by providing access to premium products - all delivered in just a few minutes." As part of this funding round, FastAF is announcing that it is spinning out of Darkstore, the provider of the core technology that drives FastAF's micro fulfillment abilities. As an independent entity, FastAF can continue to focus on delivering quality brands to people with a fast, phenomenal customer experience. Darkstore will continue its focus on developing proprietary technology that gives FastAF an edge in delivering products in minutes from its micro fulfillment centers. ABOUT FASTAF TECHNOLOGIES INC. FastAF Technologies, Inc. (FastAF) is the premier quick commerce retailer for instant access to a highly curated list of premium products from exclusive brands -- delivered to customers in minutes. Launched in 2020 by founder and CEO Lee Hnetinka, FastAF and its tech-forward approach has rapidly become the preferred choice for shoppers who value speed and on-trend products from brands that help them live better. FastAF has thoughtfully partnered with more than 600 national and local retailers and currently operates in the San Francisco Bay Area, Los Angeles and New York, with more markets opening soon. FastAF and Darkstore are backed by leading venture capital firms, and angel investors including PivotNorth Capital, Cota Capital, EQT Ventures, R/GA Ventures, Village Global, Luxor Capital, Interlace Ventures, Scott Belsky, Gokul Rajaram, Gary Fritz and Bob Greenberg. Visit FastAF.com to learn more, and follow FastAF on Facebook, Twitter and Instagram. Download the FastAF app for iOS in the App store. Contact:

PivotNorth Capital Investments

61 Investments

PivotNorth Capital has made 61 investments. Their latest investment was in FastAF as part of their Series A on December 12, 2021.

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PivotNorth Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/8/2021

Series A

FastAF

Yes

5

11/1/2021

Seed VC - IV

Ombre

$3M

No

7

10/28/2021

Series A

Viakoo

$10M

No

8

8/13/2021

Series A

Subscribe to see more

$99M

Subscribe to see more

10

4/13/2021

Seed VC

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$99M

Subscribe to see more

10

Date

12/8/2021

11/1/2021

10/28/2021

8/13/2021

4/13/2021

Round

Series A

Seed VC - IV

Series A

Series A

Seed VC

Company

FastAF

Ombre

Viakoo

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Amount

$3M

$10M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

5

7

8

10

10

PivotNorth Capital Portfolio Exits

14 Portfolio Exits

PivotNorth Capital has 14 portfolio exits. Their latest portfolio exit was Sunbasket on January 31, 2022.

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

1/31/2022

Merger

$99M

3

11/8/2021

Acquired

$99M

1

5/13/2021

Acquired

$99M

6

5/8/2020

Asset Sale

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$99M

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10

1/2/2020

Acquired

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$99M

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10

Date

1/31/2022

11/8/2021

5/13/2021

5/8/2020

1/2/2020

Exit

Merger

Acquired

Acquired

Asset Sale

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

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Sources

3

1

6

10

10

PivotNorth Capital Fund History

5 Fund Histories

PivotNorth Capital has 5 funds, including PivotNorth Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/6/2017

PivotNorth Fund III

Early-Stage Venture Capital

Closed

$35M

2

11/5/2013

PivotNorth Fund II

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$99M

10

3/1/2011

PivotNorth Fund I

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$99M

10

PivotNorth Early Fund I

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10

PivotNorth Fund IV

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10

Closing Date

1/6/2017

11/5/2013

3/1/2011

Fund

PivotNorth Fund III

PivotNorth Fund II

PivotNorth Fund I

PivotNorth Early Fund I

PivotNorth Fund IV

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$35M

$99M

$99M

Sources

2

10

10

10

10

PivotNorth Capital Team

1 Team Member

PivotNorth Capital has 1 team member, including current Founder, Timothy J. Connors.

Name

Work History

Title

Status

Timothy J. Connors

U.S. Venture Partners, Sequoia Capital, and Tandem Computers

Founder

Current

Name

Timothy J. Connors

Work History

U.S. Venture Partners, Sequoia Capital, and Tandem Computers

Title

Founder

Status

Current

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