,
Thanks for being a member of the Automotive Ventures Investment Club. I’m excited to share another deal with you.
Opportunity:
Automotive Ventures’ portfolio company
has $200k of remaining capacity in their $2m Seed Extension round, and we’re excited to offer this allocation to our LPs and Club members.
Highlights:
We’re delighted with the company’s progress since we invested (August 2021), a few notable updates:
Grew from ~$1.1m to ~$3.5m annualized revenue
Signed a multi-year, multi-million dollar contract to wrap Cox Automotive’s fleet
Launched tool for commercial vehicle dealers to sell wraps at point of sale
Automotive Ventures is doubling-down on Wrapmate and investing an additional $200k in this Seed Extension round from Automotive Ventures Fund I.
Investor Presentation & Pitch Video:
is Wrapmate’s pitch deck and
is a video of the company’s founder & CEO, Chris Loar, presenting the company.
If you have any questions for Chris, please send them to us directly by simply responding to this email.
Planned Acquisition:
Wrapmate has a unique opportunity to acquire another tech company in the vehicle graphics space for very favorable terms. The acquisition would instantly add ~$5m to Wrapmate’s annualized top-line revenue and render operational/technology efficiencies that benefit the core business.
Wrapmate’s founder & CEO,
, details the planned acquisition in
(please note: you will be asked to sign an NDA with Wrapmate to watch the video, this requirement is the result of Wrapmate’s being tightly bound by their own NDAs as a part of the acquisition process).
Deal Terms & Fees:
Seed Extension Round: Raising $2m total on a
at a $19m post-money valuation Cap and 20% discount. We have a
$200k
allocation available to our LPs and Investment Club members. You will be investing on exactly the same terms and same investment documents as the
Automotive Ventures Fund I
follow-on investment.
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 $5k.
Allocation Guidance:
We ask all investors wishing to receive an allocation to notify us by
end of day on
Monday, March 6th
with their desired commitment amount ($).
One note: We expect our allocation of
$200k
to be oversubscribed by our LPs and Club members. As such, we may not be able to secure your desired allocation amount. We will confirm allocations by Tuesday, March 7th.
Many thanks,
Steve Greenfield
678.576.9972
