The NeildaVerse #22
A metaverse startup's $33M raise, the power of alumni networks for startup fundraising, and Ship 30 for 30 onboarding week
"One in three deals in the early-stage financing market involves an investor and founder from the same alma mater."
- Jon Garfinkel, Erik J. Mayer, and Emmanuel Yimfor
Hi friends,
I hope you all had a great Easter holiday this past weekend. As for me, I had to spend it at home in quarantine. After 2 years of dodging COVID, I finally got it. Fortunately, my symptoms were mild and I was still functional with the exception of longer than usual naps in the middle of the day. As of yesterday, I officially tested negative and am ready to take on my onboarding week for Ship 30 for 30. I'll share more about that in a bit.
Here's what I want to share this week:
Good News for the Metaverse!
Yesterday, Gravity Sketch announced that they raised a $33M Series A round for their 3D modeling platform. There are big visions for what the metaverse can be. But to make them happen, we need more talent who have the ability to create 3D models and bring it to life. Tools like Gravity Sketch and Masterpiece Studio Pro are making it easier to make these 3D models using technologies like virtual reality and machine learning. With their technologies, we can expect to see a brighter and more beautiful metaverse coming our way.
Investors are more likely to invest in founders from their alma mater
Image Credit: Joonyeop Baek on Unsplash
I'm both a UCLA Bruin and a USC Trojan. When people ask me which one I'm most loyal to, I say both. It depends which tailgate I'm currently attending of course!
I knew that alumni networks were important when it comes to startup fundraising, but I didn't have the data to show the exact numbers until now. In this 2021 academic paper, Alumni Networks in Entrepreneurial Financing, Jon Garfinkel, Erik J. Mayer, and Emmanuel Yimfor share its importance, like in these big takeaways:
"One in three deals in the early-stage financing market involves an investor and founder from the same alma mater."
"Connected investments outperform the same investors’ non connected investments."
"Startups that receive funding directly from an alumni investor also raise more capital and are more likely to eventually go public, making alumni networks an important factor in entrepreneurial outcomes."
If you haven’t reached out to your alumni communities or called your college friends in a while, it’s never too late to get back in touch! And if you’re a Bruin or a Trojan, feel free to connect with me on Twitter, LinkedIn, or the next tailgate!
Ship 30 for 30 has officially begun
Image Credit: Nick Morrison on Unsplash
This week is onboarding week for Ship 30 for 30. It’s a cohort-based writing course where students are expected to write and ship 30 atomic essays (250 or fewer words) per day. I joined this writing program right after another one called Write of Passage to stay committed to writing online and challenge myself to stay consistent. What better way than to ship 30 atomic essays for 30 days in a row??
Here's what I have in store for my first week of atomic essays. Which of these are you most interested in?
My 4 favorite startup deal memo resources
3 reasons why VC fellowships are a good idea
7 ways VC funds differentiate
How Packy McCormick's "The Great Online Game" article changed the way I saw the world
3 things I learned about online writing
Why I want to be an online writer
5 metaverse startups that recently raised a Seed Round
My first essay will be shipped on Saturday. I'll be sharing them on my Twitter account so be sure to follow me to stay posted!
That's all for now.
I'd love to hear from you whether it's feedback on what you enjoyed about this week's newsletter, what needs work, and what you want to hear more about.
Chat with you all next week!
Cheers,
Neilda