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Frame VC, formerly known as Pando Ventures, is a venture capital firm based in Salt Lake City, Utah. Founded in 2020, the firm focuses on early-stage technology companies, particularly in the Western United States. The rebranding to Frame VC occurred in September 2023, as announced by Managing Partner Scott Carman. The new name reflects a commitment to supporting entrepreneurs while allowing them to remain the focal point of their ventures.
Frame VC targets companies in sectors such as SaaS, fintech, healthcare IT, and tech-enabled services. The firm has a target fund size of $100 million, although the exact status of this fund has not been publicly confirmed. Frame VC has made eight investments to date, demonstrating a consistent deployment strategy and a focus on supporting portfolio companies through follow-on investments.
The firm emphasizes building strong partnerships with founders, providing not only financial resources but also emotional support and strategic guidance. This collaborative approach is designed to help entrepreneurs navigate the challenges of scaling their businesses effectively.
Frame VC invests in early-stage technology companies, specifically in the sectors of SaaS, fintech, healthcare IT, and tech-enabled services. The firm operates primarily in North America, with a strong emphasis on the Western United States, including states like Utah, Colorado, Arizona, Idaho, and Nevada. Frame VC typically engages with companies that have an annual recurring revenue (ARR) between $1 million and $10 million, aiming to fill the expansion-stage gap in the Mountain West region.
The investment stages include pre-seed, seed, and Series A, with average check sizes around $7 million per deal. Frame VC seeks to partner with passionate founders who are deeply committed to their industries. The firm values strong relationships and aims to provide both capital and strategic guidance to help founders navigate the complexities of growth and scaling.
Frame VC's portfolio includes eight notable companies, showcasing a diverse range of innovative solutions:
This portfolio reflects Frame VC's commitment to supporting early-stage technology companies that are poised for growth in their respective markets.
Scott Carman: Managing Partner and Co-Founder of Frame VC, Scott has a background as the Head of Private Equity at Ensign Peak Advisors for eight years. He identified the expansion-stage gap in the Mountain West that motivated the founding of Frame VC.
Rob Hennefer: Co-Founder and Partner, Rob previously worked at Podium and Ensign Peak Advisors. His experience in the tech sector contributes to Frame VC's investment strategy.
Jason Garcia: Co-Founder at launch, Jason has a background with Divvy and IndieVC. His current involvement with Frame VC is not confirmed in later sources.
To pitch Frame VC, founders should use the contact email hello@frame.vc or visit their website at frame.vc. It is recommended to include a detailed pitch deck that outlines the business model, market opportunity, and team background. Frame VC appreciates well-structured presentations that clearly convey the startup's vision and potential.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, but cold outreach is also accepted. Founders should be prepared for follow-up discussions and potential meetings to delve deeper into their business plans.
In September 2023, Pando Ventures officially rebranded to Frame VC, as announced by Managing Partner Scott Carman. The rebranding reflects a strategic shift to better align with the firm's mission of supporting entrepreneurs. The new domain, frame.vc, is now active, replacing the legacy site.
In 2023, Frame VC made two new investments and three follow-on investments, continuing its active deployment strategy. The firm has also been recognized for its investment in Holdings, which was featured in Utah Business in September 2023.
What criteria does Frame VC use for investments?
Frame VC focuses on early-stage technology companies in sectors such as SaaS, fintech, and healthcare IT. They typically invest in companies with an ARR between $1 million and $10 million and prefer to engage with passionate founders who are deeply committed to their industries.
How can I pitch to Frame VC?
Founders can pitch Frame VC through their website at frame.vc or via email at hello@frame.vc. It is advisable to include a clear overview of the business model, market opportunity, and team background in the pitch deck.
What makes Frame VC different from other investors?
Frame VC emphasizes a collaborative approach, providing not only capital but also emotional support and strategic guidance to help founders navigate their growth journeys. They focus on building strong partnerships with entrepreneurs.
What is the geographic focus of Frame VC?
The firm primarily invests in the Western United States, targeting states such as Utah, Colorado, Arizona, Idaho, and Nevada. They aim to fill the expansion-stage gap in this region.
What is the average check size for investments?
Frame VC typically invests around $7 million per deal, aligning with their strategy to support companies at the pre-seed, seed, and Series A stages.
What is Frame VC's post-investment involvement like?
Frame VC is known for its active involvement with portfolio companies, providing mentorship, strategic support, and follow-on investments to help them scale effectively.
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