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Sunday, Oct 1, 2023

Spark Growth Invests Locally

A local technology investor has founded a new venture capital firm and is leveraging a community-driven “fundless” model.

The firm, called Spark Growth Ventures (SGV), was officially launched in 2020 by venture capitalist Hem Suri, with a mission to bring transparency, flexibility, engagement and access to the venture capital asset class.

It operates as a hybrid between a fund and community-driven investing platform, investing millions into startup and growth-stage companies.

Investing Globally
“SGV is a community driven, early stage, vertical-agnostic, technology VC,” said Hem Suri, founder and managing partner at Spark Growth Ventures.

“Our mission is to support gritty and exceptional founders in their missions by bringing forth the combined value of our strong community. We have built a global network of 500-plus entrepreneurs, C-level executives, institutional investors, high net worth individuals and family offices, many of who are investors in our platform,” he said.

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Spark Growth is an early-stage technology venture capital firm. It has no limited partners contributing to a fund, but instead leverages a community-driven model.

It has flexibility of investment stage and size but typically focuses on seed to series A rounds providing checks ranging from $500,000 to $2 million.

“We have an active base of 500 people across the world on all six continents who are community members. They are engaged to provide value across the investment life-cycle,” Suri said. “Our model has resonated with the middle class and upper middle class accredited investors."

Portfolio Companies
The company has 10 startups in its portfolio including Banjo Health, tab32, WaterGuru, Edisn Inc., and Outsite, among others.

Just recently, SGV invested in Meallogix, a tech startup in San Diego who raised $1.7 million in April. They also invested in local beauty company Good Face Project and Seattle-based startup Advocat AI, which won the San Diego Angel Conference earlier this year.

“Out of the 10 companies in the portfolio today, we have two that are out of San Diego, including Meallogix and Good Face Project,” he said. “Looking ahead, we are going to continue supporting our portfolio companies, continue adding new companies across the US, and scaling our platform.”

Suri noted he is especially proud of the expertise of the Spark Growth Ventures, adding that the diverse makeup of the team and the array of backgrounds and experiences brought to the table will help the firm find the best companies from various networks to invest in.


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