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Founded in 2011, TenOneTen Ventures is a Los Angeles-based venture capital firm that specializes in early-stage investments. The firm was established by Gil Elbaz and David Waxman, both of whom are serial entrepreneurs with a history of building and exiting successful startups. TenOneTen Ventures focuses on technical teams that leverage data and technology to disrupt major industries, particularly in the B2B sector.
Currently, TenOneTen Ventures manages a portfolio of over 100 companies and has raised multiple funds, including an $18 million Fund I in 2015 and a second fund targeting $50 million. The firm has a strong presence in the Los Angeles tech ecosystem and is backed by Foundry VC as a limited partner. Their investment strategy emphasizes supporting founders who are addressing significant challenges through technical innovation.
TenOneTen Ventures primarily invests in sectors such as healthcare, logistics, real estate, and manufacturing. The firm targets early-stage companies at the pre-seed, seed, and Series A stages, with check sizes ranging from $500,000 to $5 million. Their investment thesis centers on backing technical founders who are building B2B software and data infrastructure that can transform industries.
TenOneTen Ventures explicitly seeks out companies that create defensible data moats and enterprise applications. The firm prefers to invest in technical teams rather than just product visionaries, ensuring that their portfolio companies have a strong foundation in technology and innovation. This focus allows them to support founders who are addressing pressing industry problems through technical solutions.
TenOneTen Ventures boasts a diverse portfolio of over 100 companies, with a strong emphasis on B2B solutions across various sectors. Notable portfolio companies include:
These companies exemplify TenOneTen's commitment to investing in technical teams that leverage innovation to solve significant industry challenges.
Gil Elbaz - Founding Partner. Gil co-founded Applied Semantics, which developed Google AdSense, and has extensive experience in data quality and open data infrastructure. He has also founded Factual, a data company, and is involved with the XPRIZE Foundation.
David Waxman - Managing Partner. David is a three-time venture-backed founder who took PeoplePC public and built data-driven companies such as Firefly and Spot Runner. He is known for his insights on the LA venture capital scene and has been featured on the LA Venture Podcast.
Minnie Ingersoll - Partner. Minnie has a background in technology and venture capital, contributing her expertise to the firm's investment strategy.
Eric Pakravan - Partner. Eric brings experience in operational roles and investment management to the team.
Conor Webb - Partner, Operations. Conor focuses on operational support for portfolio companies, ensuring they have the resources needed to succeed.
Nicole Toussaint - Investor. Nicole plays a key role in sourcing and evaluating potential investments.
Rohan Gupta - Investor. Rohan contributes to the firm's investment analysis and portfolio management.
Eytan Elbaz - Venture Partner. Eytan provides additional insights and support to the investment team.
Jim Moffatt - Talent Partner. Jim focuses on talent acquisition and management for portfolio companies.
Todd Gitlin - Operations. Todd supports operational initiatives within the firm.
Leah Woodring - Operations. Leah assists with various operational tasks to enhance the firm's efficiency.
To pitch TenOneTen Ventures, founders should visit their website at tenoneten.com. It is essential to include a well-structured pitch deck that outlines the technology, market opportunity, and team qualifications. The firm prefers pitches that highlight the technical aspects of the business and how they address industry challenges. Response times may vary, but founders can expect to hear back within a few weeks.
In 2023, TenOneTen Ventures continued to expand its portfolio, actively investing in innovative startups across various sectors. Recent notable investments include Elysian, which raised $6 million in a seed round, and Loman AI, which secured $3.5 million. The firm remains committed to supporting technical founders and addressing significant industry challenges through its investments.
TenOneTen Ventures is also in the process of raising its second fund, targeting $50 million, which will further enhance its ability to back early-stage companies in the B2B space. The firm has been featured in various media outlets, including dot.la and the LA Business Journal, highlighting its active role in the Los Angeles tech ecosystem.
What are TenOneTen Ventures' investment criteria?
TenOneTen Ventures invests in early-stage companies primarily in the healthcare, logistics, real estate, and manufacturing sectors. They focus on B2B solutions that leverage technical innovation to address significant industry challenges.
How can I pitch to TenOneTen Ventures?
Founders can pitch their startups through the TenOneTen Ventures website at tenoneten.com. It is recommended to include a clear explanation of the technology, market opportunity, and team background in the pitch deck.
What makes TenOneTen Ventures different from other VC firms?
TenOneTen Ventures is known for its focus on technical founders and B2B software solutions. The firm is led by repeat founders who provide operational support and strategic guidance, differentiating it from firms that may focus more on consumer or entertainment sectors.
What is the typical check size for investments?
TenOneTen Ventures typically invests between $500,000 and $5 million in their portfolio companies, depending on the stage and needs of the business.
What is the geographic focus of TenOneTen Ventures?
The firm primarily invests in North America, with a strong emphasis on the Los Angeles tech ecosystem.
How involved is TenOneTen Ventures post-investment?
TenOneTen Ventures provides ongoing support to its portfolio companies through strategic guidance, operational assistance, and access to a robust network within the venture capital ecosystem.
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