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Crafting the $200M Exit Strategy

Precision in underwriting opens more doors

Author

Michael Morgenstern
May 07, 2024

Happy Tuesday Brex community,

Venture capital may not always be about swinging for an IPO with aggressive, high multiple valuations. Perhaps, a more tempered approach might just be your ticket to a smoother journey and broader appeal among acquisition-minded players in the future. Venture capital done right involves strategic underwriting that acknowledges the full spectrum of exit possibilities.

Opting for a VC fund that not only provides capital but also possesses deep ties with private equity and corporate development circles can offer a significant edge. Surprisingly, many VCs have limited exposure to the lower middle market private equity scene, let alone growth equity market. Before partnering, it’s crucial to inquire about their track record and relationships in these areas. At Brex, our team carries extensive connections across the global private equity landscape. For founders looking ahead, choosing “operator investors” with these kinds of networks can prove invaluable, especially with an anticipated M&A wave over the next 2-3 years.

How do you think positioning for a $200M exit could influence your strategic decisions today? Let’s explore this concept together and uncover how a seemingly conservative goal could unlock more doors than you might expect.

Growing together, Michael Morgenstern

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Ambassadors Perspective: Still making calls? Voxia is redefining customer interaction by delivering enhanced engagement, improved efficiency and productivity, and cost-effective scalability (95% cheaper than a human agent). With a significant trajectory of growth steered by a formidable CEO, Voxia should be watched closely and is poised for major advancements in the coming year.

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Fiat Ventures General Partners and Managing Partner Drew Glover, Marcos Fernandez, Alex Harris

Fiat Ventures invests in the future of financial innovation at the earliest stages and with the market's most innovative founders. The firm was founded based on the unique access to entrepreneurs and deal flow the team has gained from building the Fintech market's leading growth focused consultant Fiat Growth. Over the past 5 years they've worked extensively with 200+ founders and founding teams to help them drive over $1.5bn in revenues. Fiat provides more than just "smart capital" but a massive engine of growth at the heart of financial innovation.

Fiat Ventures likes to back founders who know that it's possible to "do good and do well" while providing solutions to the communities they serve. They recently announced their first $25M fund and are actively raising and deploying from their next fund vehicle.

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