2017 was year number 2 for Deep Space Ventures. I’ve learned a lot, experienced a lot, and made some great friends along the way.
The last two years have been a wild ride. Many ups, many downs. Some hard lessons learned. Some investments are clearly winning, some are not. I won’t get into that here, but I do get tired of hearing investors only talk about winners. We all have losers, and it’s OK (especially in early stage investing).
We have 18 portfolio companies and we plan to invest more than we had originally set out to invest (one of the advantages of being an “evergreen” fund). If I had to set a target, I’d say we plan to make 100 investments in early stage businesses and I suspect we will accomplish that in the next 7–10 years. I think we will target a pace of around 5–7 new deals a year, but if 2017 is any indication, maybe we will move faster than that.
During 2017 we:
Just below, I’ve summarized a list of things I think we have done well, some things we have done poorly.
What have we done well:
What we can improve on (I’m probably missing some things here and would be happy to hear your feedback, if you have some):
I’m very excited as I look forward to 2018. I think we will do some great deals, we will have some positive outcomes and we will apply our lessons learned from the first two years of DSVC to not only be a better investor, but a better member of the startup ecosystem more broadly.
Stephen Hays is Managing Partner at Deep Space Ventures, a Micro-VC based in Dallas, TX that focuses on both Esports and B2B enterprise startups.
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