Myelin Launches $100M Second Venture Fund - Global Expansion

Myelin Launches Second Venture Fund

Myelin, a venture capital firm, announced the launch of its second fund, Myelin II, on Wednesday. This new fund is designed to provide investment to approximately 40 early-stage technology companies across North America, Europe, and Latin America.

Founding and Leadership

Established in 2020, Myelin was founded by experienced entrepreneurs Matías Nisenson, Martin Varsavsky, and Alec Oxenford. The firm operates with a remote leadership structure, with each founder based in Argentina, New York, and Spain respectively.

Cesar Levene, a specialist in international tax and law, further strengthens the firm’s expertise.

Founder Backgrounds

Matías Nisenson brings to the table a track record of successful startup ventures, having both founded and sold Tiempy, a social media platform, and Experimental, a blockchain gaming company.

Martin Varsavsky has a history of founding eight companies and currently leads Goggo Network, a company focused on the development of autonomous mobility solutions.

Alec Oxenford is recognized as the founder and former CEO of letgo, a popular online marketplace for secondhand goods.

Investment Philosophy

“My entrepreneurial focus has been on building ‘unicorns,’ and now, with Myelin, I am dedicated to identifying and supporting the next generation of these high-growth companies,” stated Martin Varsavsky.

Alec Oxenford explained his decision to join the firm, highlighting the proven success and intelligence of Nisenson and Varsavsky. He also emphasized his desire to leverage his extensive investment experience – exceeding 100 investments – to guide other entrepreneurs and help them avoid common pitfalls.

Fund Details and Focus Areas

The firm is targeting a fund size between $25 million and $50 million for Myelin II. While industry agnostic, the fund demonstrates a particular interest in seed and Series A startups operating within the biotech, fintech, proptech, femtech, and food tech sectors.

Myelin actively cultivates relationships with extensive portfolios and networks to source potential investment opportunities.

Initial investments typically range from $250,000 to $500,000, with follow-on funding potentially reaching $1 million to $3 million.

Market Trends and Valuation

Alec Oxenford anticipates an increase in check sizes due to rising valuations, particularly within Latin America, and the increased flow of capital into the region.

He acknowledges that this trend also presents challenges in accurately identifying companies with genuine substance and potential.

“Our experience as founders allows us to assess the underlying strength and true potential of projects more effectively than some others,” he added. “We prioritize companies exhibiting ‘unicorn’ potential, demonstrating existing revenue, led by serial entrepreneurs, and fostering a data-driven culture. We offer a unique approach, with founders supporting founders at various career stages.”

Myelin I and Future Strategy

The launch of Myelin II follows the success of Myelin I, which invested in 23 startups, including CookUnity and Buenbit.

Matías Nisenson described the first fund as a “proof-of-concept” and his initial experience as a fund manager, while acknowledging Martin Varsavsky’s prior involvement with other funds.

They strategically opted for a smaller fund size and frequently co-invested with larger funds.

“We discovered that smaller, ‘nano’ funds can often deliver superior performance because they can participate in a wider range of deals,” Nisenson explained. “Larger funds often overlook these opportunities due to their size and investment criteria.”