January 26, 2015
Good news Miami, more money is coming our way. New York City-based investment firm, Corigin Ventures, is looking to open new headquarters in Miami and invest locally. Corigin Ventures focuses on Seed and Series A investments for startups in high-growth markets. Tech.Co spoke to David Goldberg, Director of Corigin Ventures, to find out about their plans in Miami.
1. What do you look for when making the decision to invest? What is your process like?
Our process is a nice hybrid of thorough analysis and raw instinct, and we consider team, market, and product. We look for passion, know-how, and straight-up hustle. Experience founding a company, or at least working at a startup, is a very helpful as well.
2. What is typically your bite size? Does this change depending on where the company is based?
Given that we don’t have a fund or LPs (we invest off our own balance sheet of Corigin Holdings), we have a wider range than most, with added flexibility. We’ll write $100,000 checks in a small seed runs, and get up over one million in a Series A or B. Location doesn’t really determine check size (though it can be a factor in valuation).
3. When was the last time you made an investment?
We’ve already made multiple investments in 2015, including Perch Interactive, Aloha, and Brad’s Raw Chips. Another three investments are in the current pipeline as well.
4. What industry are you interested in investing? Why Miami next?
We’ve been seeing some really interesting opportunities in Consumer-focused companies, specifically in CPG, e-commerce, and the on-demand company. We’re quite bullish on Miami as an emerging tech hub. There’s already tremendous talent and capital, and just needs a bit more infrastructure to connect the two. We’re hoping to be a big fish in a small, but growing, pond.
5. How do you interact with founders after the investment?
Each deal is different, but we always try to add as much value as we can. We are always a willing listener, and open up our expansive rolodex across industries. Given the real estate side of our business, we have some unique relationships that can be valuable. That all being said, we also know when it’s time to stay out of the entrepreneur’s way and let them do their thing.
6. If you had one super power (as in superhero: strong, fly, invisibility, read minds, etc), what would it be and why?
Know/Predict the Future. That’d be really helpful in this industry.
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