The Serpentine Rookie Fund I (“Rookie Fund”) could be described as “founders fund” or “super-angel fund”. We accelerate top founder teams at the earliest stage when they need it most. How? With a convertible loan investment, our network, and support of our passionate team.
Our offer to start-ups in a nutshell
The Serpentine Rookie Fund I (“Rookie Fund”) could be described as “founders fund” or “super-angel fund”. We accelerate top founder teams at the earliest stage when they need it most. How? With a convertible loan investment, our network, and support of our passionate team.
Unique positioning in the venture ecosystem
With the Rookie Fund, we set up a uniquely positioned venture capital fund for pre-seed start-ups. We provide venture capital as well as a coordinated support through the Swiss Startup Group (“SSUG”) venture platform for founders at the earliest stage possible.
We firmly believe that setting up the structures within a company right from the beginning provides the ideal foundation for fast-growing start-ups with the goal to become a major player in their market. This doesn’t mean that start-ups won’t pivot or won’t change their structures, or that founders have less flexibility, but it builds up a solid backbone in the organisation.
Mike Baur, General Partner at Serpentine on the Rookie Fund:
“The Rookie Fund is a key element of our Multi Fund Strategy. We partner with start-ups at the earliest stage to support the greatest stories from start to exit. Having met and followed 1’000s of founders over the past decade, we know that setting up the start-up for the venture capital path from the beginning is one of the key success factors.”
Knowing what it takes from the beginning to the exit
Our track record of building fast scaling start-ups started in 2015 with the foundation of SSUG as start-up incubator that evolved via an accelerator and corporate venture builder to our own venture building boutique. This journey allowed us to build up a wealth of know-how of how to build successful ventures, such as Struckd and beaconsmind celebrating a successful exit and IPO respectively earlier in 2021. Throughout this exciting journey, not only successful start-ups were created, but we were also able to build up a large and diverse network with more than 16’000 top tier contacts to investors, corporates, start-ups and academia that we can now leverage for the benefit of our start-ups.
From pre-seed with speed to the successful seed
It is not only know-how and network that can make the difference between success or failure of an early-stage start-up. It is equally important to choose the right strategy in planning the financing rounds and having access to top tier investors who provide capital to the start-up. Also in this respect, we set in place a structure that allows us to be the ideal partner for to start-ups. Serpentine’s multi-fund strategy enables us to accompany start-ups through the full venture life cycle from pre-seed (Rookie), to seed and serie A (Flagship) as well as to later series financing rounds (Growth) until supporting the founding team in the exit or IPO. In addition to our funds, we have an extensive network to highly active business angels, venture capital and strategic investors, and extensive know-how.
Therefore, we believe to be ideally suited to become an invaluable part for early-stage start-up teams, supporting them from pre-seed to success.
“In Silicon Valley, start-ups with big visions are supported right from the start. Although the risk appetite in Europe and Switzerland is different, with the Rookie Fund we provide support to founders to start tackling big visions and to set up their venture to become the next big thing!” - says Max Meister, General Partner at Serpentine.
Investment hypothesis
With our first vintage of the Rookie Fund, we invest CHF 100k into 50-60 of the most promising (mainly) Swiss pre-seed start-ups within three years. Yes, that makes on average almost two start-ups per month! Our investment hypothesis is to build up a highly diversified portfolio, with ICT and high-tech start-ups as main focus. But as entrepreneurs we are always open for great opportunities from other sectors, however, everything has its limits. We currently have not invested in life science and invasive MedTech start-ups.
Our process in 20 days to CHF 100k
Our investment process is streamlined and can be as fast as twenty days from first contact to the execution of the investment. After a first contact with one of our scouts, our analyst team will guide the founder through the process that is concluded by a session with the GP and light due diligence. Having access to the SSUG venture platform, we often involve experts from the field to support our investment thesis into the venture and to give valuable feedback to the founders. Rookies look for advice from the best to become Pros and - after having signed all documents, our internal deal captain gets down to work with the start-up. Our deal captain is not only supporting the founders with his or her own know-how in building up a venture, but also connects the start-up to target clients or other relevant business contacts within the network of the SSUG. When other team members need to be involved, we do so. The deal captain interacts on a regular basis with the founders in the form of at least one monthly meeting. Our experienced investment team is not afraid to go the extra mile and is highly motivated to make an impact in our portfolio companies - our success is finally measured on theirs and not vice versa.
“Being a Rookie is a great opportunity. You don’t have to do everything perfectly yet, but you get the chance to find a fast track to grow your company with great mentors and an amazing network. Our dedicated team and mindset, speeds up the learning curve and sets the path to success – even for serial entrepreneurs.” - says Guy Giuffredi, Principal at Serpentine.
Why to team up with us
Our Rookie Fund core investment team is dedicated to the success of our ventures and enjoys supporting founders on in their venture journey. We are passionate about what we do and fun to work with. Discover more about the Serpentine team (add link) and our start-up companies. (add link).
Wait! Are you a Founder (Link to Contact form) or an Investor (Link to Contact form)? Yes? Then don’t hesitate to contact us!
Find out more about our team on our website
