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Innovation Endeavors is an early-stage venture capital firm founded in 2010 by Eric Schmidt, former CEO of Google, and Dror Berman. The firm is headquartered in Silicon Valley, a hub for technology and innovation. Since its inception, Innovation Endeavors has focused on investing in technical founders who are addressing significant engineering and science challenges across various industries. The firm has established itself as a key player in the venture capital landscape, particularly in the realms of artificial intelligence, healthcare, climate technology, fintech, and logistics.
As of 2024, Innovation Endeavors manages a total of $630 million across its funds, with a portfolio comprising 115 companies. The firm has achieved 34 notable exits, including high-profile companies such as Uber, SoFi, and Upstart. This track record underscores the firm’s commitment to supporting innovative solutions that tackle pressing global issues. Innovation Endeavors also runs an invite-only program called 'Curiosity Camp,' which fosters collaboration among innovators.
Innovation Endeavors primarily invests in early-stage opportunities, specifically targeting seed and Series A funding rounds. The firm commits between $1 million and $15 million in initial investments, focusing on sectors such as artificial intelligence, healthcare, climate technology, fintech, and logistics. Their investment strategy emphasizes leveraging advancements in data, computation, and engineering to drive innovation in intelligent software, computing infrastructure, and the physical economy.
The firm’s investment thesis, referred to as 'Super Evolution,' highlights a non-linear approach to addressing significant engineering and science challenges. Innovation Endeavors seeks to partner with technical founders who are not only innovative but also capable of executing complex solutions that can lead to transformative outcomes in their respective fields.
Innovation Endeavors has built a diverse portfolio of 115 companies, showcasing its commitment to investing in groundbreaking technologies. Notable portfolio companies include:
Eric Schmidt: Founding Partner, former CEO of Google, with extensive experience in technology and innovation.
Dror Berman: Founding Partner, co-founder of Innovation Endeavors, with a background in venture capital and technology.
Scott Brady: Founding Partner, involved in early-stage investments and portfolio management.
Jørgen Vig Knudstorp: Partner and Executive Advisor, former CEO of LEGO Group, bringing expertise in business strategy and innovation.
Rebecca Lucia: CFO and Operating Partner, responsible for financial management and operational support.
Nick Olsen: Partner, focusing on investment strategy and portfolio development.
Harpinder Singh: General Partner, involved in sourcing and managing investments.
Davis Treybig: General Partner, focusing on technology investments and portfolio support.
Lara Woo: Head of Investor Relations, managing relationships with limited partners and stakeholders.
To pitch Innovation Endeavors, startups should submit their proposals through the Innovation Endeavors Contact Page. The pitch deck should include a clear overview of the technology, market opportunity, and team background. The firm prefers warm introductions but is open to direct applications. Response times may vary, but founders can expect timely feedback on their submissions.
Innovation Endeavors runs an invite-only program called Curiosity Camp, which serves as a collaborative space for innovators to converge and develop solutions. This program is designed to foster creativity and collaboration among technical founders and industry experts.
Eligibility for participation in Curiosity Camp is typically based on the potential for innovation and alignment with the firm's investment focus. Interested parties can inquire about participation through the firm's contact page.
In January 2024, Innovation Endeavors closed its largest fund, Fund V, at $630 million, indicating strong investor confidence and a commitment to supporting early-stage technology companies. The firm has maintained a consistent focus on early-stage investments, with a portfolio of 115 companies and 34 successful exits over the past 14 years.
Recent updates highlight the firm’s ongoing commitment to addressing global challenges through innovative solutions, particularly in sectors such as AI, healthcare, and climate technology.
Q? What are the investment criteria for Innovation Endeavors?
A: Innovation Endeavors focuses on early-stage investments in technical founders addressing significant engineering and science challenges. They typically invest between $1 million and $15 million in seed and Series A rounds.
Q? How can startups apply or pitch to Innovation Endeavors?
A: Startups can pitch by visiting the Innovation Endeavors Contact Page. They encourage direct applications through their website.
Q? What makes Innovation Endeavors different from other venture firms?
A: The firm leverages the Eric Schmidt brand and extensive network to provide portfolio companies with access to AI/ML talent and resources. Their unique 'Curiosity Camp' program fosters innovation and collaboration among founders.
Q? What is the geographic scope of Innovation Endeavors?
A: Innovation Endeavors primarily focuses on investments within North America.
Q? What is the typical post-investment involvement of Innovation Endeavors?
A: The firm actively supports its portfolio companies through mentorship, access to resources, and networking opportunities, particularly in AI and engineering.
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