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You can read our latest news here. Please use navigation arrows to scroll the news.
The future of farming is here! Dr. Henry Sztul — the Chief Science Officer of Bowery Farming, a network of “smart” indoor farms located in the East Coast — takes us on a tour of the company’s New Jersey facility that grows produce 365 days out of the year.
“Giving the plants what they need, when they need it,” Dr. Sztul says.
While they specialize in leafy greens and herbs (such as kale, basil and cilantro), the vertical farm — where crops are grown in vertically stacked layers (aka vertical farming) — can truly produce anything.
With their model, Bowery Farming addresses a variety of social issues affecting our world and our food supply.
NEW YORK, NY — Bowery, the largest U.S. vertical farming company serving over 1,800 grocery stores and major e-commerce platforms, today announces the expansion of ready-to-eat salad kits to all 166 Giant Food locations. This rapid growth, due to popular demand, will bring Bowery’s local, pesticide-free, grab-and-go salad kits to Giant supermarkets in Delaware, Maryland, Virginia, and the Washington D.C. area.
Bowery is reimagining the entire fresh food supply chain to be smarter, safer, and more sustainable. In 2022, Bowery expanded product offerings into the ready-to-eat-category with the introduction of three salad kit flavors featuring forkable greens, bold flavor, and crunchy toppings from pepitas to parm crisps. All three varieties of salad kits — including Zesty Caesar, Avocado Ranch, and Balsamic Vinaigrette — are now available in the produce department of all 166 Giant supermarkets.
Tiger Global leads the round, which will expand Kard’s merchant network and product suite
NEW YORK--(BUSINESS WIRE)--Kard, the rewards-as-a-service API that connects modern card issuers to the brands their cardholders love, announced today that it has raised a $23 million Series A round led by Tiger Global. Also participating in the round are Fin Capital, s12f, and existing investor Underscore VC, which led Kard's Seed round; as well as a number of strategic angel investors. Kard will use this round to expand its merchant network and product suite, as well as bolster hiring efforts across all departments, including engineering, product, sales, and account management.
Kard is the first rewards platform that specifically services the entire spectrum of card issuers, including traditional banks, neobanks, banking-as-a-service providers, and the broader fintech market — anyone building a unique card experience. Rewards programs have become table stakes for cardholders in a crowded and competitive market, but building a rewards program from scratch requires finding and integrating with retail partners, matching card transaction data to specific locations, negotiating ad rates, managing settlements, and more. Kard's capabilities handle all of this, allowing any card issuer to seamlessly embed a fully customized and tailored rewards solution into its own user experience, optimized for its unique customer base.
Pine Brook, NJ – February 22, 2023 – Core Technology, LLC (“Core Technology” or the “Company”), a national IT lifecycle management company offering field service solutions, announced that it has partnered with Mill Point Capital LLC (“Mill Point”), a middle-market private equity firm focused on control-oriented investments in the business services, IT services and industrials sectors in North America.
The Mill Point team employs an Executive Partner model and has extensive experience investing in the IT services sector. For this transaction, Jeffrey Leventhal, founder of S12F and an industry veteran with over 25 years of operating, management and investing experience, will serve as Mill Point’s Executive Partner. Mr. Leventhal has led multiple software and marketplace companies from idea through exit, driving the vision, product, team, financing and exit strategies. Previously, he founded WorkRails, Work Market, Spinback, OnForce, Hosted Systems, Remote Lojix and LANSafe Network Services. Mr. Leventhal will serve as Executive Chairman of the Company upon the transaction closing.
Core Technology is a leading provider of field service solutions for top OEMs, VARs and Systems Integrators. The Company provides implementation and support services for a variety of end markets including retail, food services, hospitality, banking, telecommunications and data centers. Since inception, Core Technology has been both a top service provider and thought leader in the IT field services industry. The Company is headquartered in Pine Brook, NJ and operates throughout the U.S.
We make commitments to VC firms with the expectation to invest in current and subsequent funds and to co-invest in select companies.
$200k – $500k LP Commitments for venture funds
Sector: Enterprise Software & Technology
Stage: Seed through growth
Geo: USA & Europe
Ideally, as an LP in several venture funds, we get to see and co-invest in select companies where our experience is a value add to the management team.
$25k – $250k co-investments
USA
Venture-backed term sheet from a Tier 1 lead
Seed through growth
Generally, we will plan to exercise pro-rata rights
High growth potential businesses with large TAM
Enterprise SaaS, Marketplaces
We can price and lead direct investments in enterprise SaaS and marketplace businesses.
Seed, Seed extensions
$500k – $750k lead
Preferred equity, SAFEs, Converts
NYC area, Remote first OK
Enterprise SaaS, Marketplaces
Occasionally we will consider select secondary opportunities with shareholder and company cooperation.
We look to acquire easy to understand software and tech enabled service businesses that can exist as a standalone operation with an engaged team for the long term. We will expect our businesses to be or become cash flow positive and we will use a portion of this cash flow to make new investments.
If you engage with us, we will give you fast straight answers as to our process, timing and valuation.
Enterprise & Vertical SaaS
Tech enabled service businesses
B2B marketplaces
Differentiated value proposition, moat
USA, ideally the northeast, southeast, remote first OK
At least 15 employees
$5-$15m revenue
High margins
Up to $20m of Enterprise Value
Capital efficient business model
Can be cash flow positive or negative
Recurring revenue businesses a plus
3+ years of verifiable history
70-80% Buyout
Cash
Rollover Equity
Debt
Seller Notes
Earn outs
First 15 Days:
Send company information via PDF
Introductory meeting online
Light diligence & LOI
If there are next steps…
Due Diligence & Planning
QoE, Legal, Risk
Documents & Closing
Onboarding
S12F (square one to freedom) is a privately held investment platform. We invest in venture capital funds, invest in venture backed businesses and acquire software companies. We rely on exits and cash flow generated by our fully owned portfolio businesses and advisory work to fund new investments. We are entrepreneurs that happen to be investing. When we invest in your business you get access to our expertise, capital, connections and talent introductions.
We seek excellence with all of our efforts and value integrity, good morals and hard work.
The inspiration and purpose for S12F comes from our experience starting several successful “square one” businesses and driving towards the ability to make our own choices and living with our version of freedom. We want to support founders from square one to make their own choices, their own judgements and pursue their own work.
Jeff is an experienced entrepreneur and investor. He has led software and marketplace companies from idea through exit, driving the vision, product, team, financing, acquisitions and exit strategies. Jeff’s primary areas of focus include enterprise SaaS and marketplaces.
Prior to S12F, Jeff was the founder of several businesses including WorkRails, WorkMarket (sold to ADP), OnForce (sold to Adecco), LANSafe Network Services, Remote Lojix (sold to AvTel Communications) and Spinback (sold to Buddy Media/Salesforce.com).
In addition to being a founder, Jeff was a venture partner, partner and investor at Boldstart.vc where he sourced Kustomer, Catalytic and Security Scorecard. Jeff is also a partner with Jayne’s Hill LLC where the firm made early stage enterprise investments in venture firms and startups that generated significant return.
Tony is an experienced executive, entrepreneur and investor. He has launched start-ups, led turnarounds and held executive leadership positions including the CEO of CompUSA. He helped build it into a Fortune 500 company. His drive, strategic thinking, people skills, operational excellence, and marketing instincts have been proven throughout his 30+ year career.
As an executive, Tony’s focus revolved around the customer, operations, and marketing. He believes by successfully focusing on those three areas you will have a highly profitable business with high margins and multiple strategic opportunities for value creation.
Prior to working with S12F, Tony was a founding partner with FMW Investments which invests in multi-family housing and commercial real estate. Additionally he was the CEO of CompUSA, and Vice President of Global S&P for Dell. Currently, Tony serves on boards, invests and performs advisory work across his investment portfolio.
For investment opportunities please work through your referral network. We do not accept unsolicited introductions. When sending investment presentations please use PDF format.
Let us know how we can help along with information about your business stage, market, and team