Announces the launch of the FRAMEWORK Startup Scorecard and Investor Network, two innovative, founder-centric tools to drive improvements in the ecosystem; three new world-class partners; and the opening of its first U.S. office
TORONTO, Aug. 8, 2022 /CNW/ - FRAMEWORK today announces the evolution of its model of venture capital, a unique platform approach to investing that goes far beyond capital. Using proprietary data, growth and operational frameworks, this new model of active capital is specifically designed to be founder-centric, to reinvent the early-stage investment ecosystem, and to facilitate intelligent hyper-growth in startups.
In addition to its platform enhancements, the company completed the first close of FRAMEWORK Fund II earlier this year at over US$100 million, having made notable investments in Paper, Incode and MaxSold with Fund I. FRAMEWORK Fund II will close in December 2022 with a target size of US$250 million. FRAMEWORK is focused on investing in Series A and Series B companies, but their new approach to the early-stage ecosystem is engineered to empower all Founders and investors to make smart decisions grounded in both data and experience, particularly during the earliest stages of a company's growth.
The FRAMEWORK Startup Scorecard, unveiled today, is an innovative tool designed to assist Founders in benchmarking their performance against a database of more than 30,000 North American startups. This performance assessment enables all interested Founders to take decisive action in their company. By providing their own data, startups can also opt-in to be matched to potential seed and pre-seed investors, through curated lists made available to funds in the FRAMEWORK Investor Network. The Network, also launched today, is designed to connect early-stage investors with interesting new companies that fit their investment strategy and reduce the burden associated with early-stage investing.
"FRAMEWORK backs the next generation of world-class companies through a new approach to venture investing," said FRAMEWORK Founder and Managing Partner, Peter Misek. "To build a truly exciting startup culture, all Founders need a rigorous way to compare their startups to others in real-time, enabling dynamic assessments to guide decision-making. They also need investors who understand how valuable that process and those metrics are as determinants of success and growth. Our Scorecard and Network function harmoniously to solve systemic problems on both sides of the VC equation, eliminating bias by using data and hands-on expertise to drive the evolution of early-stage venture investing."
The benefits of FRAMEWORK's proprietary data are compounded through the company's established frameworks, (playbooks, tools and solutions), which are uniquely customizable and intentionally responsive to fit the needs of each Founder and the startup's specific growth trajectory. These frameworks are brought to life by new Partners announced today, Barbara Dirks, Jean-Michel Texier and Mike Dobbins, whose combined expertise signals a cutting-edge shift in FRAMEWORK's model of active investing.
"We are thrilled to officially welcome our new partners and to have their expertise and counsel available through our investment process," said Ajay Gopal, Partner. "Their culture of excellence and leadership will be additive to our due diligence approach and steer the portfolio to success, providing expert guidance and hands-on assistance in all business units, including financial systems, operations, talent, technology and go-to-market—areas which most impact high-speed growth in startups. Their expertise, combined with the data and growth frameworks, leads to exceptionally robust, yet agile, operational plans that eliminate uncertainty around action, and structure priorities for the startup's team."
Barbara Dirks joins FRAMEWORK as an accomplished financial services executive, with more than 20 years of experience working cross-border at leading financial institutions including as the Head of Silicon Valley Bank, Canada. With a track-record of launching, operating and reimaging business, Dirks will work closely with Founders and leadership teams, providing world-class counsel on governance, talent, go-to-market strategy, operations, risk, scaling, coaching and communications—key challenges for early startups.
"I'm excited to work with FRAMEWORK's portfolio of talented and determined Founders," said Dirks. "These Founders are purpose-driven, have the potential for extraordinary impact and are on the cusp of truly changing the world. Their infectious entrepreneurialism is compelling and drives us as a team to identify ways we can accelerate the probability and size of their success. By being involved and attuned to what is happening 'on the ground', we can together identify emerging issues, and respond early with agility, intelligence and experience."
New partner, Jean-Michel Texier joins FRAMEWORK as an experienced venture investor in the startup space, and sought-after Chief Technology and Product Officer with more than 25 years of experience spanning Europe, Asia and North America. Texier will work with our new and existing portfolio companies to problem-solve and provide counsel on potential solutions for technology, product, compliance, go-to-market strategy, and technology-specific budgeting and reporting.
"As a partner, I am a resource to Founders but I am also invested in their success when providing advice and counsel," said Texier. "This shared mission forges relationships based on trust between VC and founders. I also share the hard-earned lessons I have learned over my career to ensure Founders avoid common pitfalls and capitalize on opportunities that may not be obvious to them given the frenetic pace of scaling and entrepreneurship."
New Venture Partner, Mike Dobbins brings expertise in venture, fintech and financial solutions, as the former Chief Strategy and Corporate Development Officer of Royal Bank of Canada and the Founder of RBC Ventures where he led the creation of over 20 Ventures. Dobbins brings further expertise in crafting strategic partnerships, customer-centric strategy, and a depth of experience in capital investment—all of which make him a key partner on strategy, financial systems and finance for the portfolio.
"Strategic partnerships and financial networks are critical at this stage in the startup journey," said Dobbins. "I am thrilled to continue working in venture with purpose-driven founders whose products have enormous potential—to solve problems, to change business-as-usual and to become the next generation of unicorns."
As the company enters the next phase of its growth, FRAMEWORK, also known as Framework Venture Partners, unveils a bold new logo and website to reflect both their overlapping and customized "framework" based approach to VC and the company's purpose of supporting companies that can change the world.
The company's exciting growth is also supported by the opening of a new office in Austin, Texas. Texas is becoming a hotbed of technology and venture capital activity, underpinned by its status as the third largest state economy in the US and home to the largest number of Fortune 500 companies of any state.
"This new office and refreshed brand give us an exciting opportunity to build relationships in an energetic, young tech and VC environment, and to grow significantly in the US," said Misek.
Venture beyond capital. Established in 2018, FRAMEWORK is a world-class venture capital partnership that backs purposeful startups. FRAMEWORK's collaborative approach empowers exceptional Founders and their teams on their path to becoming the next generation of world-class technologies. Headquartered in Toronto, Canada with offices in Montreal, QC and Austin, Texas, FRAMEWORK combines a unique, data-driven, and experience-based investment model with a collaborative model of active capital to assist management teams on their scaling journey. The company's unique approach also cultivates improvements in the venture capital ecosystem for all Founders and investors through the Startup Scorecard and Investor Network. FRAMEWORK operates under the guiding principles of trust, determination and excellence and has become the trusted partner of many Founders who have successfully scaled and succeeded in their missions. For more information, please visit www.framework.vc
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SOURCE Framework Venture Partners
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