Participated · Seed · Dec 2024

MakersHub provides an accounts payable platform that captures AP data comprehensively and enables businesses and accounting partners to use that data for automation, error reduction and insights. The company said it will use the new funds to support customer growth by accelerating investment in platform infrastructure and scaling sales and marketing teams. MakersHub raised $7M in additional Seed funding, bringing total funding to $11.5M. QED Partner Laura Bock and independent advisor Bill Shufelt will join the board of directors. Co-founded in 2021 by Phong Ngo and Charley Howe, the company is based in Austin, TX. Today it has more than 200 paying customers, a network of several thousand payees and has seen more than 10x year-to-date growth rates on nearly every commercial metric it tracks. MakersHub offers an accounts payable platform that extracts and contextualizes every line item on bills and receipts, using its proprietary WiseVision technology combined with language models and localized learning. It automates instant bill capture, rules-driven approval flows, and auto-maps records to QuickBooks to eliminate manual data entry and improve job costing for construction, industrial, and manufacturing companies. Founders Phong Ngo and Charley Howe built the product from experiences in equipment manufacturing and fintech investing and launched with design partners in Q1 2023. They say MakersHub can make accounts payable tasks up to 90% faster and recently added MakersHub Pay, embedding payments directly into the AP flow so payments data precisely maps to accounting records. The company reports roughly 20 customers processing about $10 million in gross merchandise volume through the platform and has raised $4.5 million in venture-backed capital so far. MakersHub plans to scale more aggressively in the coming quarters and is actively hiring go-to-market roles to support growth and let the founders transition out of those responsibilities.

Led · Series B · May 2022

CarePoint (formerly Africa Health Holdings) is a technology-driven healthcare company operating a network of facilities and digital services across multiple African markets. Its core offerings include in-person clinics, telemedicine via the MyCareMobile app (consultations, test results, 24-hour emergency response) and planned telemedicine centers. The company is building "micro-tech-enabled-clinics" where patients consult doctors virtually to reduce costs and address low mobile-data affordability and internet penetration. CarePoint recently entered Egypt as its fourth market after Kenya, Nigeria and Ghana, and its expansion is driven by mergers and acquisitions. It is backed by five brands that together operate a total of 65 facilities. The startup has raised $30M to date and will use the latest funding to build data science and AI teams and introduce new products as it scales regionally under founder Dr. Sangu Delle.

Participated · Series A · Nov 2021

Africa Health Holdings runs multiple hospital brands and a telemedicine platform (MyCareMobile) across Ghana, Kenya and Nigeria, aiming to build a tech-forward healthcare system. The company operates about 40 facilities across three brands—Meridian Health Group in Kenya, Rabito Clinic in Ghana and Care Point Hospitals in Nigeria—and also runs pharmacies and laboratories. It attends to roughly 200,000 patients annually who use its telemedicine platform for referrals, consultations and treatment. MyCareMobile provides teleconferencing consultations, access to test results and 24-hour emergency response, and supports electronic follow-ups through a mobile app. The firm plans to expand its telemedicine service beyond Ghana into Kenya and Nigeria and to grow its footprint within East, North and Southern Africa. Africa Health Holdings is investing in micro-tech-enabled clinics with virtual doctors' offices, diagnostic technologies and nursing support to deliver lower-cost care for people from lower socioeconomic classes.

Led · Series C · Jul 2021

Athletic Brewing Company brews fully fermented non-alcoholic beers using a proprietary brewing method intended to be indistinguishable from alcoholic counterparts. Led by CEO Bill Shufelt, the company has expanded from producing 875 barrels in 2018 to selling over 258,000 barrels in 2023. Athletic operates custom brewing facilities in Milford, Connecticut, and San Diego, California, and recently announced the purchase of a third U.S. brewing facility. The company plans to use new capital to drive long-term growth and continue expanding its non-alcoholic beer at retailers across the globe. Athletic has grown into a top-20 U.S. brewery by volume and focuses on converting critics into believers in the non-alcoholic category. The company received a $50M equity investment to support these initiatives. Athletic Brewing produces nonalcoholic craft beer and offers a lineup of more than 40 brews. The company holds roughly 55% market share in the craft nonalcoholic segment, a category NielsenIQ said grew almost 20% in U.S. retail dollars over the past year. Co-founded in 2017 by Bill Shufelt, Athletic has grown rapidly within the expanding nonalcoholic beverage market. Financially, the company has raised about $173.5 million across five funding rounds, including $17.5 million in 2020 and $50 million in 2021. Athletic’s position in the craft segment and strategic investor backing support further scale and brand expansion as consumer demand for nonalcoholic options rises. Athletic Brewing brews non-alcoholic craft beers and a hoppy sparkling water brand (DayPack) aimed at adults who want beer flavor without alcohol or hangovers. The company has won industry awards and sells via major U.S. retailers and direct-to-consumer subscriptions. Athletic plans to invest in a larger east coast brewery to add capacity after opening a 150,000-barrel San Diego brewery less than a year earlier, and to expand into soon-to-be-launched overseas markets. It is growing its team with hires in key markets and expanding marketing partnerships (IRONMAN, Spartan, Ragnar, USA Triathlon, AVP Volleyball) while continuing community programs like Two for the Trails. Athletic launched in 2018, employs over 150 people across 32 states and D.C., and claims nearly 50% share of the non-alcoholic craft beer category. The company experienced roughly 500% year-over-year growth in 2020 for the second consecutive year amid a non-alcoholic beer segment that is up over 430% YTD. Athletic Brewing brews only non-alcoholic (NA) beers and has positioned itself as a dedicated NA craft brewer. The company was founded in 2017 by Bill Shufelt, a former hedge fund trader. It has leaned into e-commerce sales, citing fewer restrictions around NA beer, which helped the brand insert itself quickly into the market. Athletic Brewing recently closed a $17.5 million Series B and now has raised more than $20 million in total capital. The company announced a slate of celebrity investors, including Lance Armstrong, Chef David Chang, TOMS founder Blake Mycoskie, and NFL players JJ Watt and Justin Tuck. In anticipation of continued growth, Athletic Brewing added 125,000 barrels of capacity at a new San Diego facility.