We havent written much about Scout Ventures, but the New York City-based firm has built up a big portfolio over nearly a decade of investing, with exits like Olapic (acquired by Monotype for $130 million) and Kanvas (acquired by TechCrunchs parent company AOL).And, its done all of this with just one full-time partner, Bradley C.
Harrison until recently, when the firm brought on Wes Blackwell as partner.Blackwell is an advisor to Washington, D.C.
startup studio DataTribe and previously led enterprise implementation, account management and tech support at LiveSafe.
And like Harrison (who graduated from West Point and served in the Army for five years), Blackwell is a veteran of the U.S.
Armed Forces, having spent more than a decade flying helicopters in the Navy.If youd asked me five years ago if I would have partnered with an Annapolis Navy brat, the answer would have been an unequivocal no, Harrison said.
But he said that as he and Blackwell started spending more time together, he realized that their backgrounds were complementary: It made all the sense in the world.And the Armed Forces background isnt just another line in their bios Harrison said that about half of the companies that Scout has invested in were founded by veterans.We dont find a lot of competition in this stuff, he explained.
Its a pretty tight community.Scout typically writes initial checks of between $500,000 and $750,000 and aims to take a stake of around 10 percent.
And while Harrison has been the only full-time partner until now, the firm has a team that also includes several venture partners and Principal Brendan Syron.Like any good investors, our thesis evolves over time, Syron told me.
He said the firm has become increasingly interested in frontier technology, with investments its core sectors of AI, machine learning, autonomy and mobility, and a big focus on data and cybersecurity an area where Blackwell has strong connections.Some of folks in this industry, by their nature, theyre not very trusting, Blackwell said.
So by virtue of Brad and Is background and character, theres a trust factor there.Blackwell has already made his first investment as part of Scout, leading a $1.5 million round in DeepSig, a startup working to improve wireless technology by applying deep learning to radio signal data.