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Common Ocean is a hybrid venture capital firm founded in New York, NY, dedicated to investing in fintech companies. The firm was established to empower everyday individuals by supporting innovative financial products that enhance financial outcomes. Common Ocean operates with a target fund size of $20 million, focusing on seed-stage investments.
The firm currently manages a portfolio of 10 companies and has a team of experienced professionals, including Managing Partner Igor Ulis, who has a background in scaling digital products for major sports brands. Common Ocean emphasizes operational expertise alongside capital investment, providing valuable networking opportunities for startups in the fintech sector.
Common Ocean's notable milestones include leading seed rounds for companies like Upswot and Women’s Bank, the first de novo women’s bank in the United States. The firm is located at 180 Maiden Lane, New York, NY 10038, and actively seeks to connect with fintech startups that align with its mission.
Common Ocean primarily invests in seed-stage fintech companies, making investments ranging from $1 million to $4 million. The firm emphasizes products that are already in the market and prioritizes solid business fundamentals in its investment strategy. This approach ensures that the companies they support have a viable path to growth and sustainability.
The firm is particularly interested in fintech founders who are committed to building a brighter financial future. Common Ocean's investment thesis revolves around enhancing individual financial outcomes, which includes sectors such as consumer credit, financial wellness, and small-to-medium business finance. The firm actively engages with its portfolio companies at the board level, providing operational expertise and networking opportunities to help them scale effectively.
Common Ocean's portfolio includes notable companies that exemplify its focus on fintech innovation:
These companies reflect Common Ocean's commitment to supporting innovative solutions that improve financial outcomes for individuals and businesses alike.
Igor Ulis - Managing Partner; previously co-founded and scaled OMNIGON, a digital products firm for major sports brands, from 5 to over 300 employees before its acquisition in 2016. He currently serves as Chief Digital Officer at Liberty Lending/REACH, providing real-time operating experience in consumer credit.
Alexandra Mihaescu - Principal / Partner; brings expertise in fintech investments and operational support to portfolio companies.
Bill Yialamas - Principal / Partner; has a background in venture capital and a strong focus on fintech innovation.
To pitch to Common Ocean, founders should visit their website at commonocean.co and submit their pitch deck via email to info@commonocean.co. It is important to include a comprehensive overview of the business, including market analysis, financial projections, and the team’s background.
Common Ocean prefers detailed decks that clearly outline the product's value proposition and its potential impact on financial outcomes. Founders should expect a response within a few weeks, and warm introductions are encouraged to facilitate the process.
As of 2021, Common Ocean has confirmed three investments, including notable companies like Upswot and Women’s Bank. The firm has been actively investing in fintech, with a pace of 10 to 20 total investments per year.
In March 2021, Common Ocean led a $4.3 million seed round for Upswot, a platform that aids banks in connecting with SME customers. Additionally, the firm has invested in Docsumo, a Singapore-based document AI/data extraction startup.
What are Common Ocean's investment criteria?
Common Ocean invests in seed-stage fintech companies, typically making investments ranging from $1 million to $4 million. The firm looks for products that are already in the market and emphasizes solid business fundamentals.
How can I apply or pitch to Common Ocean?
Founders can pitch to Common Ocean by visiting their website at commonocean.co or by emailing info@commonocean.co. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes Common Ocean different from other venture capital firms?
Common Ocean combines capital investment with operational expertise, providing active board-level engagement and valuable networking opportunities for its portfolio companies. This hybrid approach helps startups scale effectively in a competitive market.
What is the geographic scope of Common Ocean's investments?
While based in New York, Common Ocean invests primarily in the United States but is open to opportunities globally, as evidenced by its investment in Singapore-based Docsumo.
What is the typical follow-on investment behavior of Common Ocean?
Common Ocean is known for its active involvement with portfolio companies, which may include follow-on investments based on the growth and performance of the startups. The firm aims to support its companies through various stages of development.
What is the fund size and check size for Common Ocean?
Common Ocean operates with a target fund size of $20 million and typically invests between $1 million and $4 million in seed-stage companies.
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