Participated · Series D · Feb 2024

ProducePay offers a combination of supply-chain monitoring tools and financing products to help fresh produce growers and distributors manage volatility and reduce waste. The company supplies working capital for operating expenses, tech upgrades and land acquisitions, and extends post-harvest liquidity to improve growers' cash positions. ProducePay also bundles financial products with supply-chain visibility and agronomy support through “predictable commerce programs” that lock in pricing and volume before the growing season. Its platform connects growers and buyers across a network of roughly 1,000 clients and covers more than 60 commodities across 20 countries. Financial traction includes having funded more than $4.5 billion in harvests, revenue growth of 76% year over year (compared to 2022), trade volume up nearly 3x and transaction volume on track to reach $2 billion by late 2023. The company employs about 300 full-time staff and plans to expand into Europe, Asia, Africa and Australia. ProducePay provides a product suite for the fresh produce industry that includes grower financing, market pricing data and analytics, and a marketplace connecting growers, distributors, and suppliers. Its financing products cover every stage of the harvest cycle with flexible payment terms, funding in two weeks or less, and no obligation to pay until produce ships. The company’s Insights and InsightsPro platforms are used by more than 10,000 growers and distributors for real-time pricing data and analytics, and its marketplace includes over 700 vetted growers and distributors. ProducePay has financed $3 billion of produce across 12 countries in North and South America. Founded in 2014 by CEO Pablo Borquez Schwarzbeck and based in Los Angeles, the company plans to use new capital to invest in technology development and infrastructure, grow its direct sales team, and expand further throughout Latin America. ProducePay offers farmers cash advances throughout the growing season and buys produce ahead of delivery, positioning itself as an intermediary between distributors, growers and grocers. The company operates a centralized marketplace that launched in October and bundles pricing and payment certainty for growers with better pricing for supplies and services such as seed, equipment and logistics. Since its 2015 launch the marketplace has seen $1.5 billion worth of produce flow across it, with $750 million of those transactions occurring in the last year. The marketplace has already seen $100 million in purchases since its October debut. ProducePay is based in Los Angeles and is led by founder and CEO Pablo Borquez Schwarzbeck. The company plans to use new financing to expand its purchasing model and marketplace to empower more farmers and distributors. ProducePay supplies fresh-produce farmers and distributors with short-term financing, online trading tools and market data to increase cash flow and transparency in the supply chain. The company created a way to securitize perishable produce as a financial asset using technology. It provides immediate access to financing for growers and distributors in the United States, Mexico, Canada, Honduras and Chile. ProducePay financed $400M of produce in 2017 (up from $17M in 2015) and has financed over $850M of produce in under four years, providing liquidity to more than 600 growers and distributors across six countries. The company has launched online trading and data-insight tools to streamline sales, discovery and real-time pricing. ProducePay was founded in 2015 and is based in Los Angeles. The Series B will be used to scale its financing business and to develop its software platform. ProducePay is a Los Angeles-based fintech that helps farmers better manage cash flow. It offers next-day advances on produce when shipments go to suppliers, provides pre-season advances, and operates its own market for distributors. The company’s product suite centers on cash-flow advances tied to produce shipments and a marketplace for distributors. ProducePay raised $77M in funding split between $7M in equity and $70M in debt. The funding was led by CoVenture with participation from Menlo Ventures, Arena Ventures, Red Bear Angels, Social Leverage, and Moonshots Capital. ProducePay is led by Pablo Borquez Schwarzbeck; the source of the debt funding was not announced.

Participated · Series E · Dec 2023

VAST Data offers an AI operating system that unifies foundational data, compute services, and agentic execution into a single scalable software infrastructure stack. Its platform is positioned to enable organizations to deploy and coordinate AI agents, reason over real-time data, and automate complex workflows at scale. The company is led by founder and CEO Renen Hallak and is based in New York City. With the announced Series F, VAST reached an implied valuation of $30 billion after raising approximately $1 billion in primary and secondary capital. VAST intends to use the proceeds to consolidate its position, accelerate global growth, and pursue strategic transactions to expand its technology footprint and partnerships. The article does not disclose revenue, user, or other operating metrics.

Participated · Series E · Oct 2022

Holidu operates a vacation-rentals metasearch engine that compares listings across more than 1,500 websites and recorded over 110 million visitors in the last 12 months. It also runs Bookiply, a software-and-services unit that helps hosts get properties online and scale bookings; Bookiply grew 13x between 2019 and 2022, with nearly 20,000 managed homes and strong recent revenue multipliers (4.4x in 2021; 3.3x in the first nine months of 2022). The company has pursued supply-side growth via acquisitions (Spain-Holiday.com, Lohospo, my.IRS) and says it will remain open to further tuck-ins. Holidu plans to expand local office rollouts to support market outreach across Europe. The search business reached profitability in 2020, but the company remains focused on scaling rather than pursuing an IPO. Management highlights travel demand rebounding post-pandemic and sees continued opportunity from broader vacation-rental adoption and extended booking seasons. Holidu operates a meta-search engine aggregating more than 15 million vacation rental offers from over a thousand travel sites and property managers across 21 countries. The product provides granular filters (amenities, property type, distances) and the ability to search for listings with free cancellation; in July 2020 more than 27 million travellers used the service. Holidu also runs Bookiply, a software-and-service property-management arm that managed 5,000 properties in 2019 and was on track to exceed 10,000 by the end of this year. During the pandemic the company grew roughly 50% year-over-year in 2020 and more than doubled its contribution margin, enabling profitability in its search business. Planned investments include product development, doubling the tech team, expanding partnerships to increase supply, and opening more Bookiply offices across Europe to onboard property owners. Holidu was founded in 2014 and is headquartered in Munich. Holidu operates a search engine for vacation rentals, listing accommodations from more than 1,000 partners worldwide. It also offers a software and service solution under the Bookiply brand to help holiday rental owners increase bookings by distributing properties to major travel websites, synchronizing calendars, and creating multilingual descriptions and professional photos. Founded in 2014 by brothers Johannes and Michael Siebers and based in Munich, Germany, Holidu now has a team of more than 200 people. The company turned profitable in May and has since reported seven‑digit positive EBIT figures. In July more than 27 million users visited Holidu's website, driving a 2.6x year‑on‑year increase in bookings and generating over €130 million in newly generated bookings that month. Holidu, founded in 2014 by siblings Johannes and Michael Siebers, operates a holiday rentals search engine active in 21 country markets. The platform uses proprietary image recognition to compare prices for more than 15 million rental properties across 600 websites, including Airbnb, Booking.com and HomeAway, and claims users can save up to 55% by spotting price differences. Holidu also runs Bookiply, a service that lists properties, synchronizes calendars, creates multilingual descriptions and sources professional photography; Bookiply manages 5,000 properties and is claimed to be market leader in several European leisure destinations. The company says it attracts 10 million visitors per month. Holidu acquired Spanish competitor Hundredrooms last year to boost growth. The startup plans to use new funding for product development (the Holidu site and Bookiply software), to grow Holidu partners, sign up more property owners and open multiple regional offices. Holidu operates a metasearch engine for holiday rentals that scans offers from hundreds of websites and indexes over 3 million vacation rentals worldwide. The service compares prices and amenities and uses proprietary image-recognition technology to detect identical listings and find the lowest price. Holidu aims to reduce double-bookings and improve availability accuracy by only showing rentals that are truly available. The product is available in English, German, French, Spanish, and Dutch. The company plans to use newly raised capital for accelerated growth and further expansion. Holidu was founded in July 2014, is Munich-based, and employs around 20 people.

Participated · Series E · Sep 2022

Gotham Greens is a New York-based company that operates climate-controlled greenhouses to grow fresh produce near urban centers. Its core product is greenhouse-grown fresh produce distributed to retailers and positioned to reach consumers within a day's drive of its facilities. The company plans national expansion, accelerating development of three new greenhouses in Seagoville, Texas; Monroe, Georgia; and Windsor, Colorado, plus building out sites in Chicago and Providence and procuring future locations. Gotham Greens expects to operate 13 farms by next year totaling about 40 acres and recently acquired the 540,000-square-foot FresH2O Growers facility in Virginia. Operational claims include using roughly 95% less water than conventional growing and pursuing decentralization to reduce shipping-related carbon footprint. Financially, the company has raised a total of $440 million since its 2009 launch. Gotham Greens operates one of North America’s largest networks of high-tech, climate-controlled hydroponic greenhouses that produce long-lasting leafy greens, herbs and a line of salad dressings, sauces and packaged salads. The company has expanded capacity over the past year with new greenhouses in Chicago, Providence, Baltimore and Denver and doubled overall capacity. Gotham Greens has doubled revenue in the past year and reported 80% year‑over‑year growth in retail unit sales, with products sold in more than 2,000 retail stores and distributed to retailers in over 40 U.S. states. The brand recently launched new plant-forward packaged salads, cooking sauces and grab-and-go salad bowls. Management has emphasized expanding regional growing operations and distribution capabilities to address challenges in centralized food supply chains. The company says its industry-leading crop yields and capital efficiency continue to attract support from new and existing investors. Gotham Greens highlights a track record of profitable, commercial-scale production in statements accompanying the raise. Gotham Greens operates technologically advanced, climate-controlled urban greenhouses that produce hydroponic leafy greens for retailers and food service providers. The company emphasizes year-round supply chain reliability, transparency, and traceability and employs data science and machine learning in its operations. Gotham Greens owns and operates four production-scale facilities in New York City and Chicago totaling 170,000 square feet, with another 500,000 square feet under development across five states. Founded in 2009 and led by co-founder and CEO Viraj Puri, the company has grown from a single rooftop greenhouse to one of North America’s largest hydroponic leafy greens producers. It currently employs over 150 full-time team members. The company is expanding distribution, growing its team, and investing in R&D for controlled-environment food production techniques.

Participated · Equity · Jul 2022

Tebra is a Newport Beach, CA-based health-tech company offering an EHR+ platform purpose-built for independent medical practices. Its software connects electronic health records, billing, automation, telehealth, and practice-marketing tools in a single system, allowing clinicians to minimize administrative work and focus on patient care. The platform is currently used by more than 140,000 private healthcare providers who collectively manage 125 million patient records through the service. Tebra positions its product as a comprehensive operating system for the modern practice, and the company plans to accelerate the rollout of new AI-driven capabilities across every module. Funds from its latest raise will be directed toward expanding AI features in areas such as billing, payments, patient experience, and marketing. By deepening automation and intelligence, Tebra aims to enhance efficiency and patient engagement for its growing customer base.