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January 18, 2022

We’re opening our (virtual) doors to any founder who wants to pitch Eniac Ventures.

Starting today, if you’re hoping to raise funding from Eniac, you can just fill out this online form, which asks for basic information like founder background, the problem you’re solving, and the amount you’re looking to raise. Assuming you’ve got your pitch deck ready, the submission process should only take about five minutes.

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December 16, 2021

Today, we are excited to announce our investment in Phytoform, with participation from our friends at Pale Blue Dot and Wireframe Ventures.

At Eniac, we are big believers in the future of sustainable agriculture withexisting bets that include Vence (regenerative agriculture for cattle) and Iron Ox (AI autonomous farming). As the climate crisis looms, we’ve looked closely at how computational genomics can be leveraged to reduce food waste and bring higher quality diverse produce to market. Our investment in Phytoform sits at the intersection of our work in sustainability and agriculture, along with our long-time interest in genomics. Phytoform is Eniac’s first bet in computational biology, and we look forward to more investments in the category.

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December 15, 2021

Looking back at Eniac’s 2021

December 15, 2021

We’ve had a busy year at Eniac Ventures.

Shortly after 2021 began, we announced Eniac V, our $125 million fifth fund. At the time, we said we would continue leading or co-leading seed deals of all sizes, writing checks in SaaS, developer, consumer, and deeptech startups. We also said we would be doubling our team size and doubling down on New York, while remaining open to great founders everywhere.

Since then, we’ve been busy turning those plans into a reality. As a firm, we remain balanced between thesis-driven and opportunistic investments — we have our own convictions about where to find the next big opportunity, but more than anything, with we’re looking for founders with compelling backgrounds and ideas.

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December 1, 2021

Eniac has been investing in sustainability for over a decade. It is an important space for us and a lifelong personal passion of mine. Over the years, we’ve found that our thesis in the space — and the investments we make as a result — often extend beyond the scope of just “climate.” I thought it would be helpful to explain our thinking, and why we’ve refined our investment thesis to center around sustainability rather than climate-tech.

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November 30, 2021

Should founders try to find out who’s investing in their investors? Here at Eniac, we believe they should — in fact, Hadley recently tweeted that he’s been “very surprised” that founders don’t bring this up more often. And all the responses made us realize it’s worth discussing the topic in more depth.

One thing that became clear is that there’s still a lot of confusion about how the VC model actually works. Contrary to what many people seem to believe, VCs aren’t just wealthy individuals who invest their own money. They do generally put money into their funds, but the vast, vast majority comes from outside investors called limited partners (LPs) — in other words, VCs have to go through the pain of fundraising themselves.

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November 17, 2021

Welcome back to Ask a Seed VC, Eniac’s advice column on startup fundraising and investing. Today we’re answering a question from Electra Coustoftides, co-founder and CEO of Xworks:

While boostrapping and investing in ourselves over the last year+, we have also been applying to early stage, angels, VC’s, accelerators etc. who all say they are interested in investing in early stage companies however most of always the feedback returns as “too early for us.” (We also understand this could either literally mean too early or code for we are not interested.) However, our questions are the following:

  • At what point would an early stage company get invested in?
  • What does an early stage company need to do in order to be investable? (that is beyond product market fit/traction)

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November 4, 2021

Why we invested in Propelo

November 4, 2021

We’re excited to share that Propelo just announced its $12 million Series A.

We first invested in the company’s seed round in 2019, back it was known as LevelOps. But we haven’t said much about the investment publicly until today, when — along with revealing the series A — founder/CEO Nishant Doshi and his team also publicly launched the Propelo platform.

Like so many of our seed deals, we backed the company when it was pre-product and pre-launch. The reason was simple: Nishant. He’s a repeat entrepreneur, and when his previous startup CirroSecure was acquired by Palo Alto Networks, he became the larger company’s vice president of engineering.

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October 27, 2021

Over the past 10 years, Eniac Ventures has prided itself on staying ahead of the most important platform shifts. In fact, we like to think we’ve done our part to fund those shifts, with early bets in mobile, cloud, and AI. Now we’re making a commitment to the next big computing platform — blockchain technology.

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