SAN DIEGO and SAN FRANCISCO, March 31, 2021 /PRNewswire/ -- Correlation Ventures, the U.S. venture industry's predictive analytics pioneer and leading co-investor, announced its 300th investment along with three new hires in Wesley Barrow, Jared Luttrell and Amit Chu.
The 300th investment milestone is notable because Correlation is still establishing the portfolio from its second fund, reflecting its unique business model of using predictive analytics to create large and diversified portfolios of co-investments. The firm's recent investment pace of more than two new investments per month places it among the most active firms in the industry.
Correlation has been an early investor in many companies that have become leaders in their fields. Examples include Astra Space, BlueVine, Casper (CSPR), Imperfect Foods, IonQ, and Manticore Games. Three recent portfolio exits include SynthorX (M&A, acquired by Sanofi for $2.5B), Personal Capital (M&A, acquired by Empower for $875M plus an earnout) and UpStart (UPST), which went public on the NASDAQ and has a market capitalization of over $9B.
The new hires add key capabilities to help Correlation continue investing well at this pace, with a focus on how Correlation uniquely adds value to its portfolio companies as a co-investor. Wesley Barrow joined the firm as Venture Partner to lead its New York office after 12 years as a successful entrepreneur and operator, most recently serving as the SVP of New Business at Yext (YEXT), which IPOed in 2017 on the NYSE. Wesley is a go-to-market expert, already providing many of Correlation's companies with advice in this critical area. Amit Chu joined the firm as an Associate after being on the investment team at Plug and Play Ventures and managing the firm's fintech accelerator program. Wesley and Amit work alongside managing directors David Coats and Trevor Kienzle to source and work with Correlation's portfolio companies. Jared Luttrell joined the firm as Controller after nearly six years as a senior manager at KPMG, where he supported many of the firm's financial services clients. He works closely with the firm's CFO, Grace Chui-Miller.
Correlation recently unveiled a newly redesigned website (www.correlationvc.com) to highlight not only the large and diverse portfolio, but also the value-add the firm is able to offer its portfolio companies.
David Coats, Managing Director at Correlation Ventures, said: "With their expertise in go-to-market strategies, business acceleration, finance, and software, Wesley, Amit, and Jared are valuable additions to our team, helping Correlation to continue to deliver on our promise of being the ideal venture firm to join a syndicate and assist the entrepreneur along their journey."
Trevor Kienzle, Managing Director at Correlation Ventures, added: "We are pleased to have partnered with our 300th portfolio company. Since we launched the firm back in 2010, it's been humbling to see the enthusiastic response we've received to our unique value proposition from so many successful entrepreneurs and accomplished lead VCs. We look forward to partnering with many more promising companies in the years to come."
About Correlation Ventures:
Correlation Ventures, a U.S. venture fund with more than $365 million under management, leverages world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional capital to complete a financing round. For example, the firm makes investment decisions in under two weeks without repeating classic due diligence and adds unique value in areas that are complementary to the lead investor. Correlation Ventures invests across all industry segments, U.S. geographies and investment stages—from seed through late stage. Correlation Ventures has offices in San Francisco, San Diego and New York City. For more information, visit http://www.correlationvc.com and @correlationvc.
SOURCE Correlation Ventures