Atomic isn’t a family emblem, however Peter Thiel and Marc Andreessen are aware of it slightly in detail. The two billionaire buyers, together with the mission company Felicis Ventures, had been some of the earliest buyers within the four-year-old, San Francisco-based startup studio, which closed its debut fund with $20 million.
Now Atomic is taking a look to lift 5 occasions that a lot capital for its follow-on effort, presentations an SEC submitting.
The corporate declined our request for an interview previous as of late, however given its traction to this point, don’t be shocked if it lands there temporarily.
First, what it does: Atomic, which has 15 staff, judging through LinkedIn, necessarily comes up with its personal concepts for corporations, then seeks out people who it thinks may just steer those corporations. After that, it seeks out higher investments from standard mission capital companies to construct them into sustainable companies.
So a long way, Atomic — which is headquartered a stone’s throw from Thiel’s company Founder Fund, in San Francisco’s verdant Presidio nationwide park, and has a gross sales workplace in Phoenix and a small engineering campus in Waterloo — has get a hold of 10 corporations, six of which might be indexed at its site, and a minimum of 4 of that have raised important investment, presentations Crunchbase.
Among them are the Wi-Fi advertising startup Zenreach, which has now raised $80 million altogether, together with from Founders Fund, Formation eight and others; a client picture provider known as Ever that closing month raised $16 million in Series B investment led through Icon Ventures, with participation from Felicis Ventures and Khosla Ventures (it has raised $29 million altogether); and the voice-powered gross sales startup TalkIQ, which closed on $14 million in Series A investment closing month, led through Scale Venture Partners.
Atomic itself writes assessments generally of between $200,000 and $2 million.
Altogether, the company’s corporations make use of one thing like 450 other folks, and previous this yr, cofounder Jack Abraham instructed Forbes that Atomic’s debut fund had an annualized interior fee of go back of 65 % (which means that’s how a lot more Atomic’s stakes had grown in price after next buyers funded its corporations and marked up their valuations).
Presumably, given its portfolio corporations’ newer fundings, it’s now upper. (Naturally, those returns are all theoretical till actual money is returned to buyers.)
Let’s think that a lot credit score is owed to the information themselves. Atomic additionally appears to be clicking thank you partly to a type that’s very similar to that of Andreessen Horowitz, which famously options subtle back-office purposes to lend a hand its portfolio corporations.
Atomic additionally has staff who care for accounting and finance for its startups, as an example. It additionally supplies them with in-house public members of the family and human useful resource and recruiting muscle. Atomic simply occurs to be bringing that type to essentially the most nascent phases of corporate construction, when maximum founders would possibly differently be figuring out of a espresso store and juggling those more than a few items on their very own.
Atomic has 4 companions, together with Abraham, who up to now bought his corporate Milo.com to eBay; Andrew Dudum, who co-created the Ever app and up to now led product at a corporate known as TokBox; Chester Ng, who based an app building corporate known as SweetLabs and served in brief as an entrepreneur-in-residence with Trinity Ventures; Andrew Salamon, who up to now labored for the hedge fund Bridgewater Associates. Today Salamon is a spouse with Atomic, in addition to the cofounder and CEO of a sleep-tracking startup known as Rested, every other of Atomic’s portfolio corporations.
Rested has raised $7.four million so far, together with from Cherubic Ventures.