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Santa Barbara Venture Partners (SBVP) is a venture capital firm located in Santa Barbara, California. Founded by Dan Engel, who serves as the Managing Partner, the firm specializes in investing in B2B and B2C software companies. SBVP has established itself as a key player in the venture capital space, focusing on firms that demonstrate significant growth potential and strong client retention metrics.
Currently, SBVP manages a $25 million fund and has invested in 20 companies. The firm primarily operates in North America, with a keen interest in software firms generating between $2 million and $50 million in recurring revenue. Notable milestones include the successful exit of JackPocket, a lottery ticket app acquired by DraftKings for $750 million in 2024. The firm emphasizes hands-on support for its portfolio companies, particularly in customer acquisition and marketing strategies.
Santa Barbara Venture Partners primarily invests in B2B and B2C software companies that exhibit annual growth rates between 75% and 200%. The firm targets companies with recurring revenues ranging from $2 million to $50 million, prioritizing those with strong client retention metrics. SBVP is open to various investment structures, including priced equity rounds and direct share purchases from existing shareholders.
While most investments are made in North America, SBVP occasionally considers early-stage companies that demonstrate a strong sales pipeline. The firm’s investment strategy is centered on supporting businesses that have a positive impact on society or the environment, reflecting a commitment to socially responsible investing.
Santa Barbara Venture Partners has a diverse portfolio of 20 companies, primarily in the software sector. Notable portfolio companies include:
These companies span various sectors, including healthcare, consumer services, and logistics, showcasing SBVP's broad investment strategy.
Dan Engel: Founder & Managing Partner. Dan has a background in leading customer acquisition at Google, GoToMeeting, Picasa, and FastSpring. He has also served as Venture Capitalist-in-Residence at OCV Partners and Venture Partner at NGEN Partners.
Daniel Hedden: Partner. Daniel works alongside Dan Engel in managing investments and deal sourcing.
Andrea Hurtado: Marketing & Platform Lead. Andrea focuses on enhancing the marketing strategies for portfolio companies.
Sarah Stark: Venture Capital Fund Operations. Sarah oversees the operational aspects of the fund.
Jennifer Weisman: Fund Finances. Jennifer manages the financial operations of the fund.
Christy Noay: Research Assistant. Christy supports the team with research and analysis.
To pitch Santa Barbara Venture Partners, founders should visit their investment criteria page for detailed guidelines. A well-structured pitch deck is essential, including information on the business model, market opportunity, and growth metrics. SBVP prefers direct communication through their website and values warm introductions from mutual connections.
Response times can vary, but founders should expect a thorough review process. It is crucial to present a compelling case for why the startup aligns with SBVP's investment focus on high-growth software companies.
In May 2024, Santa Barbara Venture Partners announced the successful closing of its $25 million Fund 2, indicating active engagement in the venture capital space. The firm continues to focus on investing in high-growth software companies, with a portfolio that includes notable names like JackPocket, which was acquired by DraftKings for $750 million.
SBVP has also been recognized as an Emerging Manager by McGuireWoods in May 2023, highlighting its growing reputation in the venture capital community. The firm remains committed to supporting its portfolio companies through hands-on marketing and customer acquisition strategies.
What are Santa Barbara Venture Partners' investment criteria?
SBVP invests in B2B and B2C software companies with $2 million to $50 million in recurring revenue and annual growth rates of 75-200%. They prioritize companies with strong client retention metrics.
How can I apply or pitch to SBVP?
Founders can pitch their ideas through the investment criteria page on SBVP's website. A well-prepared pitch deck should include details about the business model, market opportunity, and growth metrics.
What makes SBVP different from other venture capital firms?
SBVP differentiates itself through its hands-on support in customer acquisition and marketing strategies, leveraging the extensive experience of its team, particularly Dan Engel's background in leading customer acquisition at major tech companies.
What is the geographic scope of SBVP's investments?
SBVP primarily invests in North America but is open to considering early-stage companies with strong sales pipelines from other regions.
What is the typical check size for investments?
SBVP typically invests between $2 million and $50 million in its portfolio companies, depending on the stage and needs of the business.
What kind of post-investment involvement does SBVP have?
SBVP is actively involved in supporting its portfolio companies, particularly in customer acquisition and marketing, ensuring they achieve significant growth and retention.
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