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Corazon Capital is a venture capital firm founded in 2014 by Sam Yagan and Steve Farsht. Based in Chicago, the firm focuses on early-stage investments, particularly in the Pre-Seed, Seed, and Series A stages. Corazon Capital has made over 126 investments, with a total assets under management (AUM) of approximately $230 million. The firm is known for its hands-on approach, providing actionable advice and operational support to entrepreneurs.
The founding team, comprised of experienced entrepreneurs, brings a wealth of knowledge from notable companies such as Match Group and Norwest Equity Partners. Corazon Capital has established itself as a key player in the Midwest venture capital scene, often described as a Chicago tech institution. The firm has raised multiple funds, including a $100 million Fund III in December 2021, alongside a $34 million Sidecar Fund for follow-on investments.
Corazon Capital invests primarily in early-stage companies, specifically targeting the Pre-Seed, Seed, Seed+, and Series A stages. The firm emphasizes a hands-on investment strategy, leveraging its operational expertise to support entrepreneurs across various sectors, including IoT, information technology, big data, mobile, and the internet. The average check size ranges from $10 million to $50 million, allowing for significant investment in promising startups.
Geographically, Corazon Capital focuses on North America, particularly the Midwest, while adopting a coastal investment philosophy. The firm seeks to partner with founders who demonstrate ambition and a clear vision for their companies. Corazon Capital values long-term partnerships and aims to provide strategic guidance that helps entrepreneurs navigate challenges and scale their businesses effectively.
Corazon Capital's portfolio includes a diverse range of companies across various sectors. Notable portfolio companies include:
Additionally, Corazon Capital has achieved notable exits with companies such as SpotHero, a parking marketplace; Telnyx, a cloud communications platform; and Tripscout, a travel app. These successes highlight the firm's ability to identify and support high-potential startups.
Sam Yagan: Co-Founder & Managing Director. Sam has a background as a serial entrepreneur, having co-founded SparkNotes, eDonkey, and OKCupid. He served as CEO of Match Group during its NASDAQ IPO and later became CEO of ShopRunner.
Steve Farsht: Co-Founder. Steve is an accomplished operator and investor with extensive experience in the venture capital space.
Phil Schwarz: Partner. Phil brings a wealth of experience in investment and operational roles, contributing to the firm's strategic direction and portfolio management.
To pitch Corazon Capital, founders should use the preferred channel of their website at corazon.com or email at info@corazon.com. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. Corazon Capital values clarity and detail in submissions. Response times may vary, but founders should expect to hear back within a few weeks.
As of October 2023, Corazon Capital has been active in the venture capital space, focusing on early-stage investments in North America. The firm has made over 126 investments since its founding in 2014, with a notable focus on sectors such as IoT and information technology.
Recent highlights include the successful exits of portfolio companies such as SpotHero, Telnyx, and Tripscout, showcasing the firm's ability to identify and support high-potential startups. Corazon Capital continues to seek new investment opportunities while providing ongoing support to its existing portfolio companies.
What are Corazon Capital's investment criteria?
Corazon Capital primarily invests in early-stage companies at the Pre-Seed, Seed, Seed+, and Series A stages. The firm focuses on sectors such as IoT, information technology, big data, mobile, and the internet. They look for founders with ambitious visions and a clear strategy for growth.
How can I apply or pitch to Corazon Capital?
Founders can pitch Corazon Capital through their website at corazon.com or via email at info@corazon.com. It is recommended to include a detailed business plan and financial projections in the pitch deck.
What makes Corazon Capital different from other VC firms?
Corazon Capital distinguishes itself through its hands-on approach, combining investment with operational expertise. The firm provides actionable support to help entrepreneurs navigate challenges and scale their businesses effectively.
What is Corazon Capital's geographic scope?
The firm primarily focuses on North American startups, particularly those based in the Midwest. However, they are open to opportunities across the continent.
What is the typical fund size and check size for Corazon Capital?
Corazon Capital's Fund III has a size of $100 million, with average check sizes ranging from $10 million to $50 million per investment. They also have a Sidecar Fund of $34 million for follow-on investments.
What kind of post-investment involvement does Corazon Capital have?
Corazon Capital emphasizes long-term partnerships with its portfolio companies, providing ongoing strategic guidance and operational support to help them succeed in their respective markets.
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