Get in, idiots, we’re going to the metaverse – Meczyki.Net

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Hello friends, I hope you are healthy and warm and healthy and happy and well. If not, some of those things. If you’re a nobody, there’s a reason we invented ice cream.

In good news, I have some delicious nuggets for you this wonderful Saturday. We’re talking Metaverse, a venture capital story I’ve traced from its origins, and a funding round for a really cool startup that I accidentally vacated this week, so we’re talking about it here. are. Ready? let’s have some fun.

I had the most fun this week Decentraland tour, In short, I was editing and trying to distract myself so that I wouldn’t disturb the editing team when they were done, so I fired up the social-crypto environment – in other words the metaverse – and Went for a tour. Rocking a mohawk and some really cool pants I managed to get lost, visit an NFT gallery, and fail to gain access to an area.

Look, the Metaverse as it exists today looks a lot like RuneScape. This isn’t such a big controversy given the historical footprint the online RPG has carved out for itself. But I really don’t need a less featured MMORPG that, oddly enough, includes a more financial angle than I prefer in my game.

I’m neutral at the moment, and open to the metaverse to cool down enough that I log in daily. But today it seems that some Web 2.0 properties including community building and social interaction are better than what we have seen so far from the Crypto team.

Amplify’s newest general partner

About 1,000 years ago, a startup called Mattermark hired me to build an independent newsroom for their company. It was a great learning experience, frankly, and had the added edge of introducing me to some lifelong friends. TechStars’ Kevin Liu now, for example.

Sarah Catanzaro Mattermark was another standout of the team. His work on the company’s data team was later translated into work in the enterprise, first Canvas Ventures, And later increasing partners, extend, for reference, final Announced a fund at the end of 2020 Priced at $275 million. Given that time frame, I expect the group to announce a new capital vehicle in short order.

At Amplify, Catanzaro went from Principal to Partner, most recently, to General Partner. His journey from the lowest rung of the VC world to its top has been a delight to watch. And, she told Meczyki.Net during a call the other week, she’s the first woman to reach her level at Amplify. I highlight that to remind myself that the promotion in the yet cottage industry of venture capital is the opposite of the startup-level advantage in their momentum.

Regardless, Catanzaro told us something I wanted to write about here, so that we can circle back on that later. We discussed their firm’s investment approach, examining size goals, and how often they entered companies at seed versus Series A maturity levels. According to newly created GP, the Series A round has gotten huge Without Proportionate reduction in risk. This is something I’ve had a hunch on for a while, but had never heard anyone say it out loud before.

This means that Series A risk, from an enterprise perspective, is increasing as more capital is put to work in the startup phase. The math may finally work, provided enough mega-exits are made in the years to come. But with the market plunging, and anxiety now gaining more column inches than unbridled enthusiasm, well, that surprises me a little.

pride of rhode island

As I live in Ocean State, I’m a little far from the most famous technology centers in the United States. But that doesn’t mean attractive tech companies are being created here in my small state. Meczyki.Net has spilled ink, to take one example, but Pangea, a startup founded in Providence that is building a free labor market for college kids.

Lil Roddy Has Another Startup Wanderlust Group, which has created Docva, a software platform for sailors and navigators. In short, the world of managing boat slip reservations was floating in a world of pen and paper, and Wanderlust decided to modernize it through software.

We last touched on the company in 2020 when it raised $14.2 million. At that time, the CEO mike melillo Told Meczyki.Net that his company was only looking for $7 million, that figure doubled.

So I wasn’t surprised to hear from the company recently that it has picked up again. This time around, Wanderlust has raised a $30 million Series C at a $150 million pre-money valuation. The funding event was led by Thursday Enterprises,

Happily for you and me, Wanderlust was ready to share the ARR growth for 2021, which came in at 71%. After moving to a more fun, four-day work week, the company saw a 100% expansion of its ARR from June 2020 to June 2021; Here’s an actual datapoint for one of the more interesting labor experiments I’ve been tracking in startup-land.

But the most interesting thing about the company is that it is creating a fund. Not another corporate venture capital fund, but something else. Called WanderFund, the company is funding the vehicle this year with $300,000 for what it describes as “environmental causes at a national and local level.” It’s starting, in part, with investing money at your local Boys & Girls Club to get the kids out of the house and help out in nature.

The company is making a product like Docva for camping, so the “go outside” theme is too basic for the apt name. Love for journey Creating a group.

Miscellaneous and Miscellaneous

  • Acorn SPAC deal is closed, which caught our eye. This isn’t a huge blow considering how poorly some of the SPACs have performed since the combination, but we were honestly looking at Acorns as a public company.
  • Acorn S-1, please.
  • And this Robinhood Experiment There are good sides with making the financial market more open to regular people through IPO accessibility and corporate democracy, and Sharp Edges Worth Considering,

Ok that’s enough for now. Chat with you all next week!

alex