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Stock impact report

Exclusive: Avid Ventures raises $87 million second fund [Fortune]

The Descartes Systems Group Inc. (DSGX) 
Last the descartes systems group inc. earnings: 3/4 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: descartes.com/descartes/investor-relations
Company Research Source: Fortune
companies, firms, and strategies—and I'd argue Avid Ventures' “toehold” strategy fits this mold. The word evokes an indoor climbing wall with the patchwork of small toeholds a climber must use to ascend. Accordingly, the strategy emphasizes making small initial investments in high-quality startups, then increasing ownership over time (it's sometimes also called the double down strategy). “We wanted to figure out a way to get into, and back, the absolute best founders and companies without the adverse selection of being a brand new firm,” said Addie Lerner, Avid founder and managing partner. “We wanted to find a way to concentrate capital in our winners, but in a way that still could deliver power law returns. So, our strategy is that we write these smaller $500,000 to $2 million total checks early.” Lerner, previously of General Catalyst and General Atlantic, founded Avid in 2020. Now, four years later, Avid can double down on doubling down. The New York-based firm has raised $87 Show less Read more
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