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Album is a venture capital firm founded in 2014 and headquartered in Lehi, Utah. It is recognized as one of the first majority minority-owned VC firms in the United States, with two-thirds of its ownership team being first or second-generation immigrants. The firm has established itself as a significant player in the early-stage investment landscape, particularly within the Utah tech ecosystem, where it allocates approximately 70% of its investment dollars.
As of now, Album manages a total of $200 million across its funds, with a portfolio that includes 20 companies. The firm has evolved from its initial fund to its current Fund IV, which is the largest it has raised to date. Album emphasizes the importance of building relationships and creating value through active partnerships with its portfolio companies.
Notable milestones include successful exits such as Divvy, which was acquired by Bill.com for $2.5 billion, and Weave, which is publicly listed on the NYSE. Album's commitment to supporting early-stage technology startups has positioned it as a go-to fund for innovative ventures in the United States.
Album focuses on investing in early-stage technology startups across various sectors, including fintech, healthcare, edtech, and consumer goods. The firm targets companies at the pre-seed, seed, seed-plus, and Series A stages, allowing it to engage with startups at critical points in their development. Album maintains a strong emphasis on companies that have ties to the Utah tech ecosystem while also pursuing opportunities on a national scale.
The firm’s investment thesis centers around the belief that people are more important than transactions. This philosophy drives Album to seek out founders who demonstrate strong leadership qualities and a commitment to their vision. The firm looks for startups that not only have innovative solutions but also possess the potential for significant growth and scalability.
In addition to its sector focus, Album values active partnerships with its portfolio companies, providing strategic support and leveraging its extensive network to help founders navigate challenges and capitalize on opportunities. This approach enhances the likelihood of success for the startups in which Album invests.
Album's portfolio includes a diverse range of companies across various sectors, showcasing its commitment to early-stage technology investments. Notable portfolio companies include:
Album's portfolio reflects its strategic focus on technology-driven solutions and its commitment to supporting startups that have the potential for significant impact and growth.
John Mayfield: Partner at Album, John has a background in venture capital and entrepreneurship. He has been instrumental in leading investments in several successful startups.
Sid Krommenhoek: Partner at Album, Sid brings extensive experience in technology investments and has a strong track record of supporting early-stage companies.
Wilson Sivertson: Finance professional at Album, Wilson plays a key role in managing the firm's financial operations and supporting investment decisions.
To pitch to Album, founders should visit their website at album.vc. The firm prefers detailed pitch decks that outline the business model, market opportunity, and team qualifications. While specific application forms are not mentioned, a well-structured deck is essential for consideration.
Response times may vary, but founders can expect to hear back regarding their pitch within a reasonable timeframe. Warm introductions are beneficial, but not strictly necessary.
In June 2022, Album announced the closing of its Fund IV, which raised $200 million, marking it as the largest fund in the firm's history. This milestone reflects strong confidence from limited partners and the firm's growing influence in the venture capital space.
In 2021, Album celebrated the acquisition of its portfolio company Divvy by Bill.com for $2.5 billion, highlighting the firm's successful exit strategy and the value it brings to its investments.
Album continues to expand its portfolio, focusing on early-stage technology startups that align with its investment thesis and commitment to the Utah tech ecosystem.
What are Album's investment criteria?
Album invests in early-stage technology startups across sectors such as fintech, healthcare, edtech, and consumer goods. The firm targets companies at the pre-seed, seed, seed-plus, and Series A stages, with a strong emphasis on those connected to the Utah tech ecosystem.
How can I pitch to Album?
Founders can pitch to Album by visiting their website at album.vc. The firm encourages startups to provide detailed information about their business model, market potential, and team in their pitch decks.
What makes Album different from other VC firms?
Album is one of the first majority minority-owned VC firms in the United States, which influences its investment approach and commitment to diversity. The firm emphasizes active partnerships with portfolio companies, focusing on building strong relationships with founders.
What is Album's geographic scope?
While Album has a strong focus on the Utah tech ecosystem, it also invests nationally, seeking innovative startups across the United States.
What is Album's post-investment involvement like?
Album actively partners with its portfolio companies, providing strategic support and leveraging its network to help startups scale effectively. The firm values ongoing relationships with founders and aims to assist them in navigating challenges.
What is the size of Album's funds and check sizes?
Album's current fund, Fund IV, is $200 million, and the firm typically invests in early-stage rounds, with check sizes varying based on the specific needs of the startup.
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