Summer update @ Koa Labs

It’s been a great 6 months at Koa as we’ve kicked off Fund 2 with $1.4M invested in 11 companies since the beginning of the year. We’ve made a series of great investments since January 1, 2021 including Bloomer Tech, MemoryWell, LuminDX, Appland, and Ottertune.

As a reminder — our investment profile is:

  • First time founders with technical or scientific background
  • Our founders usually represent an underserved community — women, immigrants, founders of color…
  • Our average check size is $150K and we never invest alone — always with another seed fund and usually with one of our affiliate funds (see below)
  • We generally focus on HealthTech/eHealth — but also invest in other areas — especially those related to AI, Data and Software Engineering
  • Most of our investments are in Cambridge/Boston but occasionally in New York, Austin, Bay Area, Portland ME and Seattle.

With summer weather returning, graduates walking across stages (virtual and physical), and traffic filling up the Charles River bike path — we are very excited that summer and the “new normal” has arrived in Cambridge. We’ll be taking the summer to focus on working with our existing portfolio companies and we will not consider writing any new checks until September.

As I wrote recently in a post about investment meetings, the key KPIs that matter for founders are time to decision, and dollars invested per hour of interaction. When you’re building a company from the ground up, time is king. While many investors continue to take meetings even if they are not actively writing checks, I believe that the right thing to do for founders is to be up front and direct. With that in mind,we’re taking a break in new investments for the summer, and won’t consider writing new checks until September.

We couldn’t be more excited about the current environment. We truly believe that some of the best companies are started during difficult times, and this last year is no exception. Founders who start companies during unclear economic times are more likely to be mission driven, and capital efficiency is often baked into the company’s DNA.

As always, our team is still happy to meet with talented founders looking for feedback or networking, but if you’re looking to fill out a round, consider any or all of our amazing affiliate funds: Founder Collective, X-Factor Ventures, Argon Ventures, 2048 Ventures, Pillar, BCV, One Way Ventures, Two Lanterns Venture Partners, Work-bench, Reinventure Capital, and SkyRiver Ventures.