Elixir Investment Partners is a San Francisco-based venture capital firm that invests in early stage technology startups. Founded in 2013 by industry veterans Jinesh Shah and Sundar Subramaniam, Elixir focuses primarily on enterprise SaaS, fintech, and consumer internet companies. With over $500 million in assets under management, Elixir has made over 60 investments to date across two main funds. Some of their notable portfolio companies include mParticle, Airbyte, Veryable, and Material Security. In this article, we will provide an overview of Elixir’s investment strategy, areas of focus, major deals, and advice for founders looking to partner with them.
Elixir Focuses on Early Stage B2B SaaS and Fintech Startups
Elixir Investment Partners focuses exclusively on early stage technology companies, targeting Seed to Series B rounds. Specifically, they look for high-growth enterprise SaaS, fintech, and consumer internet startups based primarily in North America. Elixir values startups that are addressing large market opportunities, exhibit strong early traction and metrics, and are led by exceptional founders. In terms of check size, they can invest anywhere from $500,000 on the low end to $15 million on the high end. Within their portfolio, Elixir aims to take meaningful ownership stakes, often being the first institutional investor in a company. They take board seats and maintain concentrated positions as their companies scale.
Notable Elixir Portfolio Companies and Investments
Since its inception in 2013, Elixir has made over 60 investments from its two main funds totaling $500 million in assets under management. Some of the firm’s most notable portfolio companies include:
– mParticle – A customer data platform that raised $150 million Series D in 2021 at a $1.5 billion valuation. Elixir was an early investor.
– Airbyte – An open source data integration platform that raised $150 million Series B in 2022 at a $1.5 billion valuation. Elixir led the Series A.
– Veryable – A flexible staffing platform for manufacturing and warehousing that raised $100 million Series C in 2021. Elixir led the seed round.
– Material Security – A API security company that raised $140 million Series D in 2022 at a $1.1 billion valuation. Elixir invested at Series A.
– Edgio – An edge computing platform acquired by NetScout in 2022 for $520 million. Elixir was an early backer.
– PayJoy – Fintech enabling smartphone financing in emerging markets. Raised $140 million to date with Elixir as an early investor.
With multiple portfolio companies reaching unicorn status, Elixir has demonstrated its ability to identify and invest in high-potential startups early on.
Advice for Founders Looking to Partner with Elixir
For founders considering taking investment from Elixir Investment Partners, the firm offers the following advice:
– Make sure there is strong mutual fit – Elixir looks for alignment around vision, metrics, target market, and work ethic.
– Be ready to move fast if there is interest – Elixir prides itself on being decisive when they see an opportunity.
– Overcommunicate during fundraising – Elixir wants to get to know founders extensively before investing.
– Leverage Elixir’s expertise in growth – The team focuses intently on helping companies scale and grow.
– Maintain a bold vision but remain flexible – Elixir values big thinking but being adaptable as challenges arise.
By aligning closely with Elixir early on, founders can benefit from the firm’s extensive experience guiding companies from early traction to scalesuccess.
Elixir Investment Partners is a successful early stage VC firm focused on enterprise SaaS, fintech, and consumer internet startups. With a strategy centered around identifying and investing in high-potential founders, Elixir has built an impressive portfolio including unicorns like mParticle, Airbyte, and Veryable. Their hands-on approach and growth expertise make them a great partner for ambitious founders looking to change the game.