The Eventerprise team was extremely pleased to receive the following endorsement from experienced Silicon Valley entrepreneur and Angel investor, Peter Henry, who has himself founded more than a dozen companies, many of which he has successfully exited in a career spanning over 30 years. As a management consultant he has worked with prominent companies such as Charles Schwab, Wells Fargo, Mellon Capital, Argo Group, CSC/PMSC and Microsoft, while his growth strategies have been successfully applied in early-stage companies covering a diverse set of industries, including financial services, insurance, software, food and beverages, and consumer goods.
June 19, 2018
On behalf of Act 5 Ventures LLC (“Act 5”), I’m extremely pleased to announce Act 5’s participation as Syndicate Lead in the capital raise by Eventerprise AG, led by founders Götz Thümecke, Charlie Wright, Birgit Thümecke, and a genuinely stellar management and operations team. Eventerprise creates a marketplace and community that brings the world of event orchestration, planning and execution into a seamless and trusted environment that allows hosts to discover and connect in a single place with vendors and service providers covering the entire range of needs for any kind of corporate or personal event. For anyone who has ever had to put on a conference, wedding, offsite or even a holiday or birthday party, especially in an unfamiliar place, this “supermarket” approach is a godsend.
A little bit of personal perspective on why Act 5 (and myself as its founder and Managing Partner) are so excited about this company. As a serial entrepreneur with over a dozen startups and several successful exits under my own belt, I see that Eventerprise has built an outstanding and complete team of seriously skilled and seasoned managers and professionals. Moreover, they’ve mastered the art of fostering and growing a culture of success and are doing so with great effectiveness with a distributed team across 3 continents. As is our practice at Act 5, we’ve spent well over 100 hours across dozens of formal and informal interactions getting to know the company and its people from an “insider’s” perspective. This is the critical “secret sauce” which informs our due diligence process, over and above the usual financial and legal diligence that, although important, doesn’t capture the “X-factor” that drives a great team’s success.
From an investment perspective, having also invested in over 50 early-stage ventures as an active angel, and as mentor to scores more, I rarely find a company that is so well buttoned-up in terms of vision, marketplace understanding and sizing, team, and go-to-market business strategy. The fact that the leadership team has been building this business, as well as their ability to work as a well-oiled machine, for the last few years is a tremendous edge that few startups can claim.
At Act 5 Ventures, we see these kinds of vertically-focused marketplaces as a key ascending category among early-stage ventures in several segments from food to housing, and now to management and execution. Managing attendees is already the purview of several major players such as EventBrite, Evensi, and Meetup among others. Their presence and growth validate the size and shape of the market. However, these are all attendee management and/or ticketing platforms; none is attending to the effort and logistics of implementing the event itself. To that end, what Etsy does for handcrafted goods, and Houzz does for home improvement, Eventerprise is doing for the world of events.
Eventerprise is raising an initial note round of $600K as a precursor to an equity round of $2.4M in 4Q2018/1Q2019. The note round is to fund the market launch of their event logistics management marketplace platform in the Los Angeles area, as its first focused revenue initiative. The note capital will be used to benchmark KPIs for validation necessary to seek growth capital via the equity round. Fundraising is underway, and the feedback on the opportunity has been excellent. We advised and strongly endorse this “stair-step” funding approach of taking the company from MVP (where they are today) to critical early market and revenue traction, to high-growth mode, with justifiable valuation step-ups along the way. This approach helps mitigate risk throughout the process while allowing early investors to maximize potential returns without over-capitalizing the company or creating unnecessary dilution.
At Act 5 Ventures, we’re excited about Eventerprise and its prospects for a 10X-30X (or better) return to early-stage investors, with well-managed risk mitigation. The SaaS space is red hot and achieving excellent multiples, as is the event space within that larger universe. Marketplaces with a vertical focus are a key trend we’re seeing emerge strongly as well. Effective marketplaces have to understand and bring together several things: selection, community, ratings, trust, and functionality. Eventerprise is doing it right, and in that it is well-positioned to be the winner in its space. The company has our highest endorsement, and we’re excited to be along for the ride as investors.
Please don’t hesitate to contact us at Act 5 Ventures LLC with any questions regarding Eventerprise, the terms of the raise, our involvement, or our approach to selecting and supporting our portfolio of early-stage company investments with SmartSyndicates™.
Peter Henry, Managing Partner
Act 5 Ventures LLC
The information contained in this document should not be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult with your investment professionals, tax advisors or legal counsel as necessary before relying on this material.