General Access To FPC Fund Closes On Jan 01; Passendo, Leading Email Ad Server, Now Open To Investment
The Clock Is Ticking: General Access To The FirstPartyCapital Fund Closes On Jan 01
We are closing general access to the FirstPartyCapital Fund 1 on Jan 01. What does that mean? Basically, we will no longer be accepting industry sector investors at the lower threshold amount from 2022.
If you are thinking about investing, you best do it now. There will be no exceptions beyond Jan 01.
Over 100 of your peers have invested in the FirstPartyCapital fund. Our investment thesis looks beyond ids, cookies and media: we exclusively invest in innovative tech enablement and SaaS-based solutions in the media, marketing and commerce sectors.
More importantly. the startups we invest in are bulletproof from a legislative (GDPR, CCPA), tech platform (Apple et al) and user privacy perspective.
Many companies in our portfolio are planning sizeable Series A rounds in the coming 6-12 months so the big momentum is happening NOW. A few have received offers from publicly listed ad tech companies, PE and strategics hungry for innovative tech that will a) save their faltering legacy cookie/id based businesses and b) accelerate revenue. This is the time, people. Sign up here or suffer extreme painful investment FOMO.
Invest Now: Fast-Growing Email Ad Server Solution, Passendo, Raising Money On FirstPartyCapital Platform
We love utility at FirstPartyCapital - especially those startups solving boring but hugely lucrative problems. Email is still the go-to “free” marketing channel - and remains “undisrupted” by revenue-destroying big tech. Slack tried to optimise it by introducing an inefficient real-time messaging product. Meta just wants anything “free” to die. And, of course, our good friends at Google surreptitiously try to undermine email marketing by making ad serving an impossible ad ops task.
Despite these futile acts of wanton sabotage, email marketing continues to grow. Both publishers and retailers are building big ad businesses around email content. But technology that enables privacy-first ad serving and measurement remains a blind spot for the industry. Hacking the Google ad server is not a viable scaled solution. Google does very little product development on the old DoubleClick framework, preferring instead to mark up media by a 30%-40% margin via its ad tech sausage factory.
But there is one company in ad tech 100% focused on email ad execution. Let me introduce you to Passendo, the Danish tech company that is building the ultimate email ad serving stack. It is essentially the category leader in the email channel. Passendo offers a focused technology that neither Google nor ad tech can deliver, giving publishers and marketers unique email ad delivery and measurement capabilities.
This deal is now live on the FirstPartyCapital investor platform for accredited investors. Here are just a few high level takeaways on Passendo:
SaaS revenue is growing at nearly 3x YoY
60+ clients including tier 1 publishers on 6-figure annual contracts.
Huge Geographical and Vertical expansion opportunities
25% valuation discount for FPC syndicate investors
And Finally… You Are Invited To The FirstPartyCapital Drinks
We are hosting a small gathering for our LPs and portfolio companies (present and future) in a central London pub on Thursday, Nov 25. It will be our first networking event for FPC. Expect a relatively civilised combination of beer and industry M&A chat. We intend to do more networking events in global locations throughout 2022 as we bring our global investors together. Stay tuned for news on that. If you are interested in attending, register here.