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CHESTNUT STREET VENTURES is a community of 6,000 Penn alums. We all share an interest in entrepreneurship, venture capital, and our alma mater. We raise a fund each year and invest that capital in a portfolio of 15-25 companies with a Penn alum connection. We also offer a number of ways to engage with one another through events, webinars, and more. We are a for-profit fund, not affiliated but friendly with the University.

CHESTNUT STREET JOINS TOP VCS IN DOMO DEAL

>> Co-investors BlackRock, Andreessen, Benchmark, Greylock

Domo-1.jpgDomo is intuitive business intelligence software for enterprise users, It's unlocking the power of data by allowing users to connect, prepare, visualize, engage, and optimize throughout their workflow. The round is led by BlackRock, with other investors including Andreessen Horowitz, Benchmark Capital, SV Angel, IVP, Bezos Expeditions, Greylock Partners, and TPG Growth.

What we like:

  • Ultra-strong institutional investor base from Seed to Series D
  • Huge market potential with $100B total addressable market
  • Top-tier management from Omniture, SAP, Oracle, Workday, Amazon
  • Founder Josh James is a visionary leader. He was the youngest CEO of a publicly traded company and facilitated Omniture’s $1.8B sale of Adobe.
  • Superior product & client base: MasterCard, Danaher, Comcast, GE, Target
  • Strong growth profile and robust recurring revenue model 
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JOIN WHARTON ANGELS PITCH!

Join Wharton Angels of Silicon Valley as they select startups for their inaugural pitch session on June 1 in San Fran. Additionally, John Braze (WAASV President) and Prof. Karl Ulrich will share their expertise about the intersection of angel investing and entrepreneurship. It will be a great time to learn about exciting startups, network with other innovation enthusiasts and Wharton alumni, plus enjoy cocktails. You can sign up here.

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INVEST WITH CHESTNUT STREET

Join Our Investor Community

We offer alums three easy ways to invest in venture capital:

1) Annual Funds. Our most popular offering. You own a professionally managed portfolio of 15-25 top venture-backed companies.

2) Co-Investment Program. Great way for newcomers to participate in VC. Opt into select Annual Fund deals with low minimums.

3) Partner Program. For investors with a large annual budget who want a broad, customizable, index-like venture capital portfolio of ~100 top VC-backed companies.

Read more about our investor community here, or click the button above to join. It only takes two minutes.

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We invest in all sectors and stages and seek companies connected to a Penn alum—with a preference for following in a VC or PE firm with expertise in the sector. To share deal info, please email us at
[email protected]

ENTREPRENEUR IN THE SPOTLIGHT: JOSEPH QUAN

This month, we are featuring the the Penn Wharton Startup Challenge winner. Joseph Quan (WG'17) is the CEO of Twine, a company that matches top internal candidates to open job roles. 

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Tell us a little bit about your business, Twine? It is an HR technology company that lies at the intersection of many Wharton specialties – people analytics, enterprise software, and human capital research.

Millennial employees leave their companies every 2-3 years, costing the average Fortune 1000 company over $100M/year. The number one reason for this is lack of internal opportunities. And yet the tools for internal hiring inside the enterprise are incredibly outdated. We built Twine to enable seamless internal mobility. You can read more about our mission here.

How has your experience with Chestnut Street Ventures been? Incredible! I met Gail when Twine was featured as a rising startup at the Wharton People Analytics Conference, and Gail happened to be one of the judges. I’ve also had the chance to brainstorm and bounce ideas off of her, and that advice has been instrumental as our team continues to scale out the business.

What motivated you to become a entrepreneur? A few reasons. Being an entrepreneur gives you the platform to have an outsized impact on the world around you. It’s also a rare opportunity for growth to have a job that requires a mix of different skills: enterprise sales, software development, content marketing, customer success, and high output management. Finally, I had over a decade of training at art schools. I love that act of creation, of building something from nothing. 

What does winning the Startup Showcase mean to Twine and to you? It’s a great milestone for us, but we’ve just got to keep it moving. We got to share Twine’s vision with some of Wharton’s most esteemed alumni. The win also coincides nicely with some recent hiring, investment, and sales wins. Big thanks to the Penn Wharton Entrepreneurship team and the Wharton community for all their support in the last years. 

OUR NEW INVESTMENT COMMITTEE MEMBERS

We are building out an Investment Committee team that reflects the diversity of Penn. These talented and experienced business growth strategists and startup advisors will assist us in evaluating top deals. This month, we welcome two new IC members. If you would like to see our entire team, click here.

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Mike Dishowitz manages a portfolio of PCI Ventures startups focusing on the medical device, biotech, and therapeutic sectors, helping build businesses that commercialize Penn intellectual property. He is also director of Penn’s medical device startup accelerator, DevelUPmed, and manages several capital acquisition and business development programs. Previously, Mike worked at boutique consulting agency PriceSpective, determining valuation, pricing, & market access potential of emerginglife science technologies. He also co-founded a startup that uses a combination drug-device to promote bone formation and regeneration. He graduated with a BS in Mathematics from the University of Florida and a PhD in Bioengineering from Penn.

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Managing Partner Gail Ball listening to an elevator pitch from a Penn entrepreneur at the Startup Showcase.


ECOSYSTEM NEWS


 SOCIAL MEDIA

> Huge congratulations to Twine, the winner of the #UPenn Wharton Startup Challenge! 

> Three of #UPenn President's Engagement Prize winners are creating a Latino after-school program

> Would you want to know if Alzheimer's is in your future? #UPenn is working on a first-of-its-kind research study

> John McInerney is named inaugural executive director of the #UPenn Sachs Program for Arts Innovation.

#UPenn will be celebrating the launch of Penn Health-Tech on May 2! 

Follow Us on LinkedIn
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Gail Gilbert Ball
Managing Partner

Ven Raju
Vice President

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Important Disclosure Information 
Chestnut Street Ventures is a Series of Launch Angels Funds, LLC, is an independent, for-profit company. It is not affiliated with nor officially sanctioned by University of Pennsylvania. Launch Angels Management Company, LLC (LAMC), is the General Partner to Chestnut Street Ventures, a Series of Launch Angels Funds, LLC.

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