We are incredibly proud to announce the close of Primary Fund II, a new, $100 million vehicle. This is an exhilarating moment for us, in no small part because it means we get to continue doing what we love doing: Partnering with some of the best founders in NYC as they build industry-redefining companies.
As Seed investors, we’ve always been founder-first in choosing the companies with which we partner. We firmly believe in the most overused maxim of venture investing: The jockey is more important than the horse.
When we launched our first fund back in 2014, we wanted to focus on a metric that would give our companies the best shot at success while also clearly demonstrating our overall progress and health of the fund. That metric we is Seed to Series A “graduation rate,” and it’s this idea that has ultimately become the bedrock of our strategy.
When it comes to parental leave policies, early-stage startups have some very real resource constraints. But that doesn't make any less important for them to cultivate a culture that is open, encouraging and supportive of employees looking to grow their family. Here are our recommendations for fostering a family-friendly culture that don’t force employees to choose between work and home life.
Last week saw the news of BounceX’s successful $37 million Series B financing. The round was led by Battery Ventures, with participation from Primary Venture Partners, Contour Venture Partners, Cross Creek Capital, Jason Finger and Rho Ventures.
Latch CEO Luke Schoenfelder offers his take on the evolution of the industry over the last five years, the long-term implications of smart access on human behavior, the impact of Amazon’s acquisition, and more.
It’s not often that you find investors who have found success as CTO, founder and investor alike, but Eric Feng has done just that, and it’s that rare combination that gives him such a unique outlook on what it takes to build successful consumer businesses.
We so often think of CTOs as expert engineers (which they are, of course!), forgetting that in order for them to do their job well, they also need to master the human, team-building side of the business. We assembled some of the city's leading CTOs, and here are the topics that are keeping them up at night.
Primary is growing! With a newly raised Fund II on the books and an expanding team, we are better positioned than ever to partner with the best founders in NYC. We’re excited to introduce three fantastic additions to our team who will help us broaden our impact to our portfolio companies as we help usher them successfully from Seed to Series A.
CoEdition is the brainchild of former Gilt founders and operators who bring deep-rooted merchant backgrounds and experience scaling digital commerce companies through hyper-growth. Having learned a thing or two about timing from their Gilt days, CoEdition’s entrance coincides with some major shifts in the plus-size industry.
Enterprise SaaS platforms continued to drive the most deal activity this quarter, with particular emphasis on platforms that increase pricing transparency for corporate customers. Other sectors that showed particular strength were ecommerce marketplaces and financial services platforms that seek to democratize access to financial products.
New York City saw a total of 25 seed deals completed in Q1 - just shy of last quarter’s 26 - and a total of $39.2 million in funding, which was down 26% from Q4. Compared to this time last year, Q1 saw 29% fewer deals and 32% less in total funding.