Mike Edelhart: The second is science and technology. We’re deep science oriented. The ideas we hear from the entrepreneur on day one won’t be the ideas by which the company actually succeeds. It’s all delineated by change and unexpected circumstances.
Sramana Mitra: Social Starts and Joyance Partners are two separate funds. What are the fund sizes? Mike Edelhart: We are about $70 million all in. We will be more than doubling in size. We are investing out of Social Starts fund four which is just under $20 million. Social Starts is about $50 million all-in
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Mike Edelhart was recorded in August 2020. Mike Edelhart, Managing Partner at Social Starts and Joyance Partners, shares some fascinating developments from their portfolio, especially a healthcare startup that is thriving in
Sonali Vijayavargiya: I think the engine has started. People are engaging. There is an increasing awareness of teams and solutions that are coming out of different regions other than just the Bay Area or New York. People are willing to get on a plane and meet with these teams.
Julianne Zimmerman: At the conference, I was approached by several women. The conversation we had is a conversation I have with far too many founders from MIT and many other alma maters. I have formed a really spectacular team around me. I have customer demand. I have contracts that are waiting to be filled. I
Sonali Vijayavargiya: Another example that I would share with you is a company called Flume. It’s in the water space. This came out of Cal Poly. This was brought to our attention by one of our champions and co-investors from the Bay Area. It’s a very elegant solution for leak detection and water management. I’m
Julianne Zimmerman: The company did eventually have mainstream well-known investors. It took us a long time to get there. Also, that company was one of innumerable companies that were killed off in the extinction event that occurred when the markets imploded in 2007. I had an amazing experience of being at the forefront and accomplishing
Sramana Mitra: Tell me more about the business model. A large percentage of enterprise software is sold via the subscription business model. So is that your business model? Sonali Vijayavargiya: Exactly. Most of our companies have a subscription business model. Investors value the recurring model. I feel that products don’t walk by themselves. You have