On average, our median initial check size into a company is just over $300,000, and, on average, we’ve invested over $450,000 into each of our companies. But averages are downright terrible to quantify what Founders should/could expect from Bee Partners. Most important, you should look at how many of our companies have gone on to raise successive rounds of capital.
Through June 2016, we had 33 unrealized companies, seven of which were less than one year old. Of the remaining 26, three are resolutely profitable (yep, only took Seed money) and therefore are precluded from this analysis. That leaves 23 total companies. Of the 23, over 50% have successfully raised a Series A or later round of capital. In spite of the tougher fundraising environment, we actually expect this ratio to improve to nearly 75% in the next year.
Some of Bee’s follow-on investors are some of the biggest names out there: Canaan, Crosslink, FirstRound, Floodgate, Formation8, Foundation, Javelin, Khosla, Kleiner, Sierra, TechStars, Trinity & more. We work very, very hard to get our companies funded beyond the Seed by the right investor. These facts don’t always get covered clearly in the press, and we think it objectively speaks volumes about the quality of our portfolio.