Automotive Ventures Investment Club Members,
It was nice to see many of you on today’s call with i-5O.
As a reminder, Automotive Ventures has just made a $200k investment into company
(“i-FIVE-O”) out of our Mobility Fund, and we were able to secure an additional $200k allocation in this round for co-investment from our LPs and Club members. This Club investment is the only way to participate in this round.
Thanks to those of you who have already requested an allocation.
To those who haven’t, below are two resources you may find helpful to evaluate the investment opportunity:
Allocation Guidance:
We ask all investors wishing to receive an allocation to notify us by
end of day on
Friday, May 5th
with their desired commitment amount ($).
One note: We expect our allocation of $200k to be oversubscribed by our Club members. As such, we may not be able to secure your desired allocation amount. We will confirm allocations by Monday, May 8th.
Deal Terms & Fees:
The terms of the round are a $12m pre-money valuation cap and 15% discount on a “
” (SAFE).
The SPV (our investment vehicle) fee structure will mirror best practices established by the
, with a one-time 2% management fee and 20%
. Each investor will share proportionally in the Special Purpose Vehicle (SPV) setup fee, expected to be $4.5k.
Please let us know if you have any questions.
Many thanks,
Steve Greenfield
678.576.9972
,Thanks for being a member of the Automotive Ventures Investment Club. I’m excited to share a new deal with you. Opportunity:Automotive Ventures has just made a $200k investment into company i-5O (“i-FIVE-O”) out of our Mobility Fund, and we were able to secure an additional $200k allocation in this round for co-investment from our LPs and Club members. This Club investment is the only way to participate in this round. Highlights:i-5O has developed a proprietary computer vision solution to help manufacturers track, measure and improve their manual production processes. A few highlights:
Currently have 6 paying enterprise customers, including Suzuki, Rassini and ArcelorMittal
The company has just surpassed $1m in ARR (revenue run rate)
In an audited test with Suzuki, i-5O’s solution performed at 99.8% accuracy
Investor Presentation:HERE is a link to i-5O’s investor presentation. Pitch:You’re invited to a 1-hour pitch and Q&A session with the company’s CEO on Monday, 5/1 at 12:00 PM ET to hear more. Deal Terms & Fees: The terms of the round are a $12m pre-money valuation cap and 15% discount on a “Simple Agreement for Future Equity” (SAFE). The SPV (our investment vehicle) fee structure will mirror best practices established by the Jason Calacanis Syndicate, with a one-time 2% management fee and 20% carried interest. Each investor will share proportionally in the Special Purpose Vehicle (SPV) setup fee, expected to be $4.5k. If you’re interested in attending next week’s call and learning more about the opportunity to invest, please let me know. Many thanks, Steve Greenfield[email protected]678.576.9972
