We are thrilled to kick off the New Year with a summary of our progress over the last year in our 2022 semi-annual impact report. The data referenced in the report has shown that capital has been formative, allowing Latino entrepreneurs to build at the same rate as non-Latinos. We have focused solely on closing the gap and creating a disciplined yet a fiscally-sound investment platform.
REPORT HIGHLIGHTS:
Revenues and Valuations: L’ATTITUDE Ventures II portfolio companies generated over $94M in annualized revenues (2022 YTD) and we anticipate a rapid rise in revenues and company valuations over time.
Match-Up 2022: We had over 7,000 attendees at the L’ATTITUDE conference with over 500 Match-Up pitch submissions and 23 Latina(o) startups invited to pitch at the high-profile and widely covered Match-Up competition.
Fund II Capital Allocation: In August 2022, Fund II closed with $101M in commitments. To date, Fund II has deployed $34M across 27 companies with an average check size of $1M, and by stage, 26% Pre-Seed, 44% Seed, and 30% in Series A+.
Geographic Distribution Portfolio Companies: Fund I and Fund II portfolio companies operate across 24 U.S. states, 19 metropolitan areas, 21 countries, and 8 industries.
Founders: 100% of companies have Latina(o) founders.
Heritage: 60% of founders identify as Mexican, 14% as Colombian, and 11% as Venezuelan. We also have founders identifying as Puerto Rican, Salvadoran, Ecuadorian, and Dominican. In terms of generations in the US, 61% are 1st generation, 32% are 2nd generation, and 7% are 3rd generation or higher.
Female Founders: 38% of founders are female, above the VC industry average of 13%.
Portfolio Employees: Latinos are strongly represented across our portfolio beyond the C-suite. 61% of our portfolio companies’ employees identify as Latino, versus 5% across early-stage startups.
Congrats:
Adrian Oritz, Co-Founder of Flow, for outstanding revenue growth of 57% (YTD).
Alejandro Velez, Co-Founder & Co-CEO of Back to the Roots, recently launched their hydroponics kit, a one-year exclusive in Walmart stores nationwide.
Sandra Velasquez, Founder & CEO of Nopalera, for winning the L’ATTITUDE Latino Startup of the Year at our high-profile and widely covered L’ATTITUDE event and being featured in Time, Bloomberg and Univision.
Kayla Castañeda, Founder & CEO of Agua Bonita, is launching into nearly 2,000 new stores, including a national Whole Foods Market launch, a regional Target launch, and 7-Elevens in select markets.
Eric Aguilar, Founder & CEO of Omnitron, is redefining the MEMS industry by creating a new process for MEMS scanning mirrors that meets the most demanding requirements of LiDARs. The new topology for MEMS produces measurable improvements in size, cost, robustness, and reliability.