Dear Friends:
Without question this has been a year of changes - resilience, customer focus, and operational excellence have emerged as major themes across our industries. This past year the Moderne portfolio created 6 exits, including 3 IPOs, 4 unicorns and 11 accretive financing events. We are so proud of our portfolio making waves and doing its part in creating significant value for their customers and the industry.

We are also excited to announce that we are now taking applications for our 2021 Midyear Passport Class and adding to our team at Moderne. Please apply or pass on amazing referrals!

Keep reading for details and as always, please reach out, we enjoy hearing from you!

Moderne Companies in the News

• Better - Better announced plans to go public in SPAC merger at $7Bn valuation. The surge in mortgage refinancing in the last year due to historically low interest rates resulted in a significant spike in Better's loan volume.

• Hippo - Hippo announced plans to go public in SPAC merger with Reinvent Technology Partners Z at a $5Bn valuation. Hippo is transforming the home insurance industry, as they created the first vertically integrated, end-to-end home protection and insurance platform.

• MotoRefi - Goldman Sachs leads $45M investment into auto fintech startup MotoRefi. MotoRefi is doing to auto refinancing what Better did to mortgages and Hippo to insurance - completely automating and digitizing auto refinancing, saving consumers $1200 / year on average and providing significant ancillary income for referrals.

• Kaiyo - Online furniture marketplace, Kaiyo, raises $5M to fuel growth. Moderne is proud to have led the Series A round for Kaiyo, a full-service marketplace for gently used furniture committed to great design, exceptional customer care, and a more sustainable planet.

• Super - Super raises $50M to cover home repairs and maintenance via a subscription model. Led by awesome strategics like Wells Fargo, Super is now expanding nationwide.

• ICON - ICON unveiled its next-gen 3D printer and introduced "House Zero" designed by Lake|Flato Architects. ICON's new designs highlight the benefits of resiliency and sustainability only found in homebuilding through 3D printing.

• Vyv - Vyv announced groundbreaking inactivation and killing of viruses (including SARS) with its UV-free antimicrobial light technology. The implications of this advancement are vast given that Vyv's technology can be used safely and continuously around people, animals, and plants.

• Hello Alfred - Property management startup Alfred buys HoM. We love it when one Moderne Ventures company buys another Moderne Ventures company!

2021 II Passport Class Applications

The Moderne Passport Program is a stage agnostic industry immersion program which connects cutting edge technology companies to multi-trillion dollar industries: real estate, finance, insurance, home services, and hospitality. These industries are ripe for innovation and growth.

Do you know a company that would be a great fit for the Passport Program? The Moderne team is reviewing applications now for its 2021 Midyear Passport Class that begins in August. Encourage stellar companies to apply!

Deadline to Apply is July 15, 2021: Apply here.

The Moderne Team is Growing!

With so much going on we are looking to add to our A team! We are hiring for the roles listed below and would welcome any referrals. See here for more details and feel free to share the opportunities with your broader network.

• Passport Director - Moderne is hiring a maven, a maverick, a builder, a connector - an executive in the real estate space who will help our companies drive value for the industry and help our Corporate Partners maximize their benefits from using new technology and innovation. The ideal candidate has pre-existing relationships in the multifamily real estate/tech or other peripheral industries.

• Investment Principal - Moderne is seeking an experienced Investment Principal with previous senior-level experience at a top-tier Venture Capital fund or Growth Equity firm. The ideal candidate has meaningful and broad existing connections within the venture capital and early-stage startup ecosystem as well as a proven track record of sourcing, structuring, evaluating and closing successful investments.

Best,
The Moderne Team