The Top Micro-VCs For Startups With Series A Aspirations

Which micro-VCs are able to get their seed investments to Series A quickest and help them raise the most cash? (and avoid tech orphan status)

We analyzed micro-VC-backed companies that received a seed round and went on to raise Series A financing. Of the micro VCs that had 10+ investments make it to the A round, we found that:

• Red Swan Ventures’ companies raised the highest median Series A rounds after their seed investment
• ENIAC Ventures’ portfolio companies raised Series A rounds the fastest post-seed financing.

The full analysis below:

Red Swan Ventures & CrunchFund median Series A rounds are $7M+

As we previously mentioned, Red Swan Ventures, who’s portfolio includes Oscar Health and Harry’s Razor Company, both of which raised super-sized series A’s at $80M and $75M respectively, held the highest median series A at $7.5M. CrunchFund came in second, with a median series A of $7M, with six of their portfolio companies raising $10M+ series A’s including DigitalOcean’s $35M round of financing.

ENIAC Ventures’ companies get to Series A fastest

ENIAC Ventures portfolio cos average the fastest time to a series A investment, with only 295 days on average from seed to series A. Red Swan came in second on this measure.

The scatter plot below highlights each investor included in this analysis with average # of days from seed to series A vs. median series A funding raised. The top left quadrant of the chart features investors whose investments raise over $5.5M series A rounds less than 425 days after their seed round – in other words, they raise the most in terms of absolute dollars of funding and so quickest.

This quadrant (highlighted in the chart below) includes Red Swan Ventures, ENIAC Ventures, Baseline Ventures, CrunchFund, SV Angel, and Felicis Ventures. Some of their notable seed investments below:

• ENIAC Ventures – TapCommerce, Boxed, OnSwipe
• Red Swan Ventures – Oscar Health, Harry’s Razor Company, The Bouqs
• Baseline Ventures – Instagram, TaskRabbit, Formspring.me
• CrunchFund – DigitalOcean, SmartThings, Highlight
• SV Angel – Domo Technologies, Stripe, Warby Parker
• Felicis Ventures – Optimizely, Dollar Shave Club, Factual

It is worth noting that among micro-VCs that seed round sizes do vary by firm. As a result, firms which do “larger” seed rounds may have companies where fundraising is not an imperative as quickly.

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