AVG Deal Syndications

 

AVG Deal Syndications

AVG Deal Syndications are your opportunity to complement your venture portfolio with deals that you pick. You decide how frequently you want to see deals and which you want to invest in. You also choose the amount you want to commit, with minimums typically $25K.

Note: Some deals are oversubscribed, in which case you might be cut back on a pro-rata basis.

 

Why Participate

AVG strongly believes that investing in individual deals only makes sense in the context of owning a large, diversified venture portfolio. However, we respect that venture selection is educational, engaging, and a valuable skill for investors to develop. It’s also an opportunity to supplement your portfolio in sectors or stages where  you feel underrepresented or where you want to lean in.

How Deals Are Chosen

All Syndications are deals sourced and sponsored by an actively managed AVG fund who has negotiated extra allocation. Each deal has cleared AVG process at the sponsoring fund level. The exact nature of deals will vary, but they will reflect the variety of the ~200 investments AVG makes every year.

 

Syndicate Membership

From 8/1/20 through 8/1/21, all AVG investors are welcome to participate in the Syndicate. Memberships can be renewed with participation in any AVG fund; no minimum dollar amount required except as specified by a fund.

Two notes regarding Venture Club members:

  • All Venture Club members will have a lower minimum investment threshold per deal than those who are not club members–$10K minimum per deal for club members vs. $25K for those who aren’t club members.
  • Venture Club Presidents have a 5-year membership in clubs. All other club members have a 1-year membership, which can be renewed by investing in any AVG fund.

How It Works

  1. We’ll notify you about the Syndication opportunity and give you access to our portal with information about the deal (due diligence, terms, company presentation, Investment Committee call recording, etc.) and a reservation form.
  2. Typically you have about a week to decide if you want to participate.
  3. At the close of the offering, we will confirm your investment amount. If the deal is oversubscribed, you’ll generally receive a pro-rata allocation.
  4. Funding is usually due 1-2 weeks after the deal closes. We accept ACH and checks.
  5. We provide a bi-annual update on companies that were Syndicated, and any of your deals will also be listed in your AVG Investor Portal.

AVG Venture Clubs

Many investors enjoy interacting with others when evaluating deals. Responding to this trend, AVG recently launched AVG Venture Clubs to facilitate groups of friends, family, colleagues, classmates, and others to consider, debate, and score deals together. Of course, the final decision is yours, and Venture Club members are free to invest (or not) in any particular deal. But many find the interactions informative and the Club a great way to learn, engage, and network.

What else is different about the Syndication experience in Venture Clubs?

  1. Venture Club members have a lower threshold for minimum investment: $10K per deal vs. $25K for non-members.
  2. The President of the Club determines how frequently deals are shown to members.
Join a Club

Recent Deals

The following is a sample of recent Syndication offerings.

Hydrow is a connected fitness indoor rower delivering a live, remote, on-river experience—think Peloton for rowers instead of spinners. Hydrow delivers a best-in-class rower along with a monthly content subscription to live and recorded classes that provide an outdoor reality experience to simulate rowing on the water. Hydrow rowers are sold for at-home use and commercially for fitness clubs, hospitality, and other corporate environments. This Series A-2 was led by L Catterton, a leading consumer growth investor with related investments in Peloton, Tonal, ClassPass, Equinox, CorePower Yoga, and others.

SHINE Medical will deliver safe, clean, and affordable radioisotope production to diagnose and treat heart disease and cancer. SHINE uses a patented manufacturing process that offers it major economic advantages as it does not require a nuclear reactor, uses less energy, and is greener (270X less waste vs. a reactor-based facility). SHINE’s onshore manufacturing facility will enable the company to offer a more secure supply of the critical isotope at an enormous cost advantage to overseas production. We followed up on our Series B investment into this $40M Series C-3 led by Fidelity Growth Funds.

Glympse Bio has created superior technology to detect disease, offering a better alternative to biopsies. Glympse uses synthetic biological sensors that can be administered by needle, aerosol, or orally. These detectors travel through the body looking for specific disease, whose byproducts are then excreted through urine and analyzed. The Series B was backed by life sciences investors Section 32, Charles River Ventures, Polaris, and ARCH.

Tembo Health provides a telemedicine platform that connects nursing home residents with specialized care providers through an intuitive video chat platform. This enables patients to access convenient, high-value specialty medical care at a safe distance. The Seed-Plus SAFE round was led by Bloomberg Beta Founder and General Partner Karen Klein, an AVG top seed investor, who previously backed Tembo.

Wasabi provides open, reliable, and easy-to-use cloud storage. Wasabi’s cloud storage is six times faster, but only 1/5 the price of Amazon’s S3. It remains plug-in compatible with all applications that work with S3. Existing investor Forestay Capital took the lead of the Series B2, doubling the amount it originally planned to commit.