Nueva Ventures
1400 Fashion Island Blvd., Suite 1010, San Mateo, CA, 94404, United States
Overview
Nueva Ventures is a new genre of venture capital firms taking a "micro-cap" approach. We are able to meet the needs of entrepreneurs who choose to leverage today's technologies and adopt efficient go to market strategies to launch and prove out their businesses with far less capital. We seek to invest in startups needing $500k - $1.5 million as a first venture capital Seed or Series A round and we generally look for opportunities that are within the Internet, software and mobile sectors. Our belief is that proving out the model with less capital reduces risks, improves the prospects of raising follow on capital on better terms and preserves exit options for the entrepreneur and investor.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Investment portfolio
- Rixty
Participated · Seed · Jan 2010
Rixty is a cash-based payment platform that enables unbanked users to purchase credits redeemable for games, virtual goods and other digital content. The product lets people without credit cards buy credits through physical payment points and integrated publisher flows. Rixty operates 75,000 payment points in the U.S., 66,000 in Brazil and a total of 500,000 payment points worldwide, and has partnerships with 70 game publishers. The company is based in San Francisco and retains its founding team and most past investors as significant shareholders after the transaction. The investment by MOL is intended to expand Rixty’s reach and integration with global publishers across North and South America. Both companies are already active in mobile payments and expect to cooperate on mobile and virtual payments going forward. Rixty is a San Francisco-based alternative payment platform that enables consumers without credit cards or bank accounts to create spending accounts for online entertainment. Its platform lets users fund accounts by taking cash to one of 20,000 locations, including Coinstar kiosks and participating convenience stores. The company raised $1.24M in seed capital to fuel growth. The round was led by Javelin Venture Partners with participation from Accelerator Ventures, First Round Capital, Freestyle Capital, Nueva Ventures, Soft Tech VC and other strategic angel investors. Rixty will use the funds to accelerate growth of its publisher network, expand its product offering and increase its user base. In conjunction with the financing, Noah Doyle of Javelin Venture Partners and Keval Desai, vice president of product at Digg, will join Rixty's board of directors.
Team
No current team members are available.