Rebecca Lynn turns canvas ventures to found canvas prime as solo gp

“Never be a first engine,” says Lynn. The first movers carry the burden of proving that a market exists, she says. “You pay to educate consumers about this market. You fight this difficult battle. You spend a ton of money to prove the market – and when you finally prove that there is, you have an aging technological battery. Why not let someone else break this choice?

It is a advice that Lynn gleaned from decades of experience in operations and to invest the sides of the table. Lynn has never planned to be a VC – a first generation kid from the Midwest, she spent her start of career in the late 90s to Procter & Gamble. In 2007, just before the great recession was fully materialized, she ended up taking her first concert at Morgenthaler Ventures. The very first quarter sheet she gave concerned the loan club of the financial services company in 2009.

“Always keep an eye on the macro,” says Lynn. “So when Lehman crashed, that’s what made the loan club a lot. Without Lehman’s crash, we would not have invested in the loan club. But there was this macro opportunity where their product suddenly has just nail it. They made peer-to-peer flames and even if you have a credit, you cannot have a loan. of them.

In 2014, Lending Club would become the largest technological stock exchange for the year. Since then, she has also been an early investor in Doximity, Luminar, Futureadvisor, Check and Casetext. Now, twelve years after the co-foundation of Canvas Ventures (stimulated by Morgenthaler Ventures in 2013), Lynn turns alone, launching a new Canvas company Prime as GP Solo, she said exclusively Fortune.

“We have received a lot of advice from our LPS that they liked my strategy and my results,” she said. “And I really had, from a descending level, I wanted to concentrate more for years. Because concentration – is the Kool -Aid that we tell our entrepreneurs to drink: concentration, concentration, bet, execution, execution. Make a decision and make quickly. Because not making a decision is also a decision. ”

Lynn keeps the name of canvas because she retains seats on the board of directors and continues to support her current portfolio companies, notably Savvy Wealth, Airvet and Marvin. In some respects, Lynn is part of a broader trend in the company, solo GPS which have a deep well of experience, leaving behind older or larger companies. Its strategy for Canvas Prime is defined: the company focuses on a few sectors – mainly fintech, digital health and AI – where it has proven expertise and assessment, as well as a concentrated and high property portfolio. They invest in 12 to 15 companies per year while taking significant ownership issues from 15% to 25% to maximize yields.

“I think the days of the average and generalist market fund have disappeared,” explains Lynn. “They don’t work. The smaller funds outperform, and here are a number: specialized funds have 37% higher yields than generalist funds … and when we made upward analysis on the place where we earned money for our investors, it was clearly clear that we have earned money in fintech, digital health and AI – and that was. ”

In many ways, Canvas Prime is to remember that it is important and necessary, to say no.

“You cannot be an expert of everything,” said Lynn Fortune. “What we say to CEOs all the time is that knowing what to say no is the most important skills set that you can develop. It is therefore a concentration and clarity on what we must cover, how we must cover it, which we must hire and what we must build to be useful to our businesses.”

Term leaf podcastEpisode 3… This week, we are trying something new on the Term leaf podcast—Pairing an episode with an essay! In my Term leaf podcast Interview with Rebecca Lynn, we discussed its roots in the Midwest, its way to Silicon Valley and what it learned as a entrepreneur has become a venture capital. In addition, my point of view on the Nvidia-Amd-Trump agreement and the billionaires of the newly created AI. Listen here.

See you tomorrow,

Allie Garfinkle
X: @Agarfinks
E-mail: Alexandra.garfinkle@fortune.com
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Business affairs

– AppillageA mobile game payment platform based in Tel Aviv, Israel, has raised 58 million dollars in series B financing. IVP led the Tour and was joined by Playrix,, Create,, You,, Play Adventures,, Gilot Capital Partners,, Smiling Investmentand others.

– GametoA New York -based cellular engineering company focused on the reproductive health of women, has collected $ 44 million in series C. In the water Adventures led the Tour and was joined by Preview Partners,, Ramp Capital,, Two Sigma Adventuresand others.

– CustomersA CX platform fed by AI based in New York, raised 30 million dollars in series B financing. Hook led the Tour and was joined by Battery,, Red pointAnd Fat.

– GoodsAn operating system based in Bellevue, Washingon for the freight industry, raised 25 million dollars in series B financing. Green field Partners led the Tour and was joined by Bessemer Adventure Partners,, Peak object Adventures,, Chicago AdventuresAnd FUSE VC.

– LeapA fans’ platform based in Los Angeles, California, for sports, raised 23 million dollars in series A series. Alexis Ohanian And Seven Seven Six led the tour and were joined by Courtyard side Adventures,, Will Adventures,, Precursorand others.

– ArinerA medical coding automation platform based on Austin, Texas, has raised $ 21 million in series A series. Culminate XV Partners led the Tour and was joined by Effort Health Adventures,, Y Combiner,, Counterpart Adventuresand others.

– UltravioletAn electric motorcycle company based in Bangalore in India has raised $ 21 million in funding. TDK Adventures led the Tour.

– TransactionA developer based in Miami, Florida, Fiat-to-Crypto infrastructure, has raised 16 million dollars in funding. Attached And IDG Capital led the tour and was joined by others.

– DataA generative assessment of the AI of Seoul, South Korea, raised $ 15.5 million in series B financing from Kb Investment,, Shinhan Adventure Investment,, Kiwoom Investment,, Sbi Investment,, Dirty Adventuresand others.

– MakoAn IA infrastructure company based in New York that builds smart agents to generate and optimize GPU nuclei, has collected $ 10 million in seed financing. M13 led the Tour and was joined by Torch Capital And Parable VC.

– TransactionsA price infrastructure developer based in San Francisco for income teams, has raised $ 7 million in funding. Pear VC And General Catalyst led the tour and were joined by Depth VC,, Elsa Adventures,, Weekend Funds,, Flex Capital,, Allison Picoller,, 20 Salesand others.

– FoldedA developer from San Mateo, California and Bangalore, India, AI agents to integrate corporate software systems, raised $ 6.5 million in seed financing. Laniac Adventures And Tide Adventures led the tour and were joined by Better Capital,, In front VC,, Karman Adventures,, Z21and providential investors.

– Infinity LoopAn AI-based New York-based IA-based transactions analysis platform has raised $ 5 million in start-up funding. Rescue Adventures And Tiaa Adventures led the tour and were joined by Socket And Play,, Upset Adventuresand providential investors.

– HoneyyboA cross-border payment platform based in Nairobi, Kenya, raised $ 4.9 million in seed financing. Flourish Adventures led the Tour and was joined by Visa Adventures,, Tlcom Capital,, Stellar Development Foundation,, Washed,, Porridge Adventures,, 4DX AdventuresAnd Ready.

– Levr BetA decentralized sports betting platform based in Costa Rica, has raised $ 3 million in funding. Blockchain Capital And Maven 11 led the Tour.

– TlikiA game creation platform fueled by AI based in London, based in the United Kingdom, has raised $ 2.2 million in pre-series funding. Two -legged ventures led the Tour and was joined by Atlas Sgr,, XTX AdventuresAnd SFC Capital.

Investment capital

– Ruin Landscapesupported by Knox Laneacquired Large landscapes Property ManagementA landscaping company based in Winchester, Virginia. The financial conditions have not been disclosed.

Outings

– Hubbell Incorporated agreed to acquire Dmc PowerA supplier of connectors and tools based in Carson, California, for the substation and transmission markets, Golden Grid Capital. The financial conditions have not been disclosed.

– Apollo agreed to acquire Trace3A digital service and IT service provider based in Irvine, California, American Securities.

– Protection Investment Partners acquired AcredradesA agricultural land investment platform based in Fayetteville, Arizon. The financial conditions have not been disclosed.

Funds + fund funds

– Peaceful Street Capital PartnersAn investment capital-based company in Los Angeles, California, has raised $ 1.65 billion for its second fund focused on corporate sculptions and disinvestments.

– Periscope EquityAn investment capital-based fund in Chicago, in Illumme, has raised $ 370 million for its third fund focused on business service companies belonging to founders.