Participated · Series B · Aug 2024

Setpoint provides infrastructure software (Asset OS and Capital OS) that digitizes, organizes, and verifies asset and funding data to automate credit facility management. Its platform targets originators, lenders and capital markets participants across auto, consumer, SMB and real-estate asset-backed lending. Setpoint reports 6x year-over-year revenue growth and facilitates nearly 100,000 transactions annually; its affiliated capital provider has funded over $3.5 billion in real-estate transactions managed on the platform. The company is approved by major rating agencies including Moody’s, DBRS, KBRA and S&P. Setpoint aims to reduce errors and inefficiencies caused by manual processes and to make credit transactions faster and more accurate. Going forward it plans to expand engineering and data-science teams and leverage machine learning and large language models to improve asset-data verification and calculations. Setpoint has built software that acts as an operating system for originators, aiming to be the “Stripe for credit” by making loan transactions instant, automated and error-free. Its platform verifies and stores documents, automates interest-rate calculations and digitizes assets such as homes to speed closings. The company initially focused on proptech and real estate transactions and counts customers including Opendoor, Offerpad, Orchard, Backflip and Wander. Setpoint also operates as a lender, and has loaned or guaranteed over $2 billion in capital to companies like Homeward, Opendoor, Flyhomes and Houwzer, while using its software to reduce capital risk. The SaaS business reported revenue growth of 13x year-over-year through Q3 2022 and net dollar retention of +224% per quarter in its first five quarters. It is expanding beyond real estate into broader asset-backed lending, including single-family rental, fractional models and rent-to-own, and is scaling its engineering and operations teams. The company said it was on track to power 25,000 home transactions this year and expects to power more than 100,000 in 2023. Setpoint provides a flagship SaaS platform that automates and accelerates modern real estate transactions for proptech companies, offering workflow tools for document collection and verification, collateral management, treasury services, facility management, and expedited valuations. The company pairs that technology with $615 million in bridge debt capital, which it lends to proptech partners to finance transactions and enable contingent-free cash offers. Setpoint's platform powers “Buy with Cash” and “Buy Before You Sell” options and is already used by Homeward, Flyhomes, Reali, and Houwzer. The company announced general availability of its technology and said it is on track to help power 25,000 home transactions in 2022. Setpoint says its tools can reduce closing times from weeks to as little as 40 minutes once parties are in contract. Founded in 2021, Setpoint aims to make homeownership more accessible by combining out‑of‑the‑box infrastructure and flexible capital to scale alternative real-estate financing models.

Participated · Seed · May 2023

PermitFlow delivers an artificial-intelligence driven platform that automates permit applications, inspection scheduling, and license management for residential builders, commercial developers, home-service contractors, and renewable-energy firms. The software helps users cut project timelines by up to 60 percent, reduce administrative workload by 90 percent, and achieve a five-times return on investment. Led by CEO Francis Thumpasery and CTO Samuel Lam, the company is expanding its product suite with additional AI agents that address the full permitting and inspection lifecycle. PermitFlow’s modular approach allows builders to handle complex, multijurisdictional compliance requirements through a single interface. With fresh capital, the team plans to accelerate product development and scale hiring to meet nationwide demand. Although specific revenue figures were not disclosed, the operational metrics suggest strong adoption and efficiency gains for customers. The company is headquartered in New York City and is backed by a roster of top-tier venture firms.

Led · Series A · Jul 2017

Hutch is an interior-design-meets-commerce platform that allows users to snap a picture of their living space and receive a photorealistic redesign populated with curated furniture and décor. The company’s technology wipes existing items from the image, infers room scale from contextual cues such as electrical-outlet height, and inserts new pieces chosen by Hutch’s in-house designers. A before-and-after slider helps shoppers visualize the transformation, and every suggested item can be purchased directly in-app; products are drop-shipped or white-labeled so Hutch captures the retail margin. Targeting students and young professionals, the catalog is priced between IKEA and premium retailers like West Elm or Crate & Barrel, with customers often indifferent to brand origin as long as aesthetics meet expectations. Each room currently takes about 20 minutes for a designer to complete, but the team plans to automate most of this workflow to enable near-instant output. Longer term, Hutch aims to extend its visualization engine beyond interiors to categories such as automotive or fashion, creating a broader “visualized commerce” platform. To date, the company has raised $7.14 million in seed and Series A funding from Founders Fund, FF Angel, Sean Rad, and Scooter Braun.

Led · Equity · Jul 2017

Hutch is a virtual interior design app that uses a photo of a user's room to generate virtual redecorations and product recommendations. The service originally paired spaces with expert designers (delivering designs in about 24 hours) but has since automated much of the process with human oversight, reducing turnaround to under an hour. Users swipe through style-based designs (industrial, relaxed, floral) and can individually swap items from Hutch's in-app catalog; designs were previously white-labeled and items could be purchased directly in the app. Hutch plans to expand beyond white-labeled inventory by adding affiliate deals with retailers such as Target, Nordstrom, and Urban Outfitters to widen its catalog and generate additional revenue. The company has raised a little over $17 million to date, including a new $10 million financing from Zillow. Earlier investors include Founders Fund, Scooter Braun, and Sean Rad.