Underscore VC Core Community
The Underscore VC Core Community is a group of exceptional entrepreneurs, executives, and experts who work with us in every aspect of investing from identifying entrepreneurs to providing them with the ecosystem of support needed to help build companies. Core Members have collectively built hundreds of companies, created thousands of jobs, served millions of customers and built billions of dollars of value for their stakeholders.
The Core is designed to provide founders with the resources they need to build an enduring business with truly value-add and fully aligned partners. We organize the Core Community based on domain, function and stage, to ensure that we provide founders with the right expertise, from the right people at the right time. When we invest in a company, we bring our Core Community with us to support the entrepreneurs with an aligned group of individuals through our Core Partner and Core Syndicate program.
In addition to connecting our Core Members with entrepreneurs as partners, we engage them through a wide range of programs and events.
A group of aligned advisors
An Underscore Core Partner is a member of the Core Community that an entrepreneur has identified as someone who will be a valuable advisor for their business. The Core Partner’s role is to act as an independent supporter, providing the company with connections, advice, mentorship and expertise. Core Partners will typically support companies by providing a few hours a month, and some will even take more active roles when needed.
Core Partners are aligned with founders and are compensated with equity shares in the company they are supporting. What’s unique is that those shares come out of Underscore VC’s investment carry, meaning they are non-dilutive to founders.
Benefits of Core Partners
|For entrepreneurs, Core Partners provide them the ability to leverage the Underscore Core Community to identify and recruit world-class advisors, organized based on the team’s needs by domain, skill and stage. Underscore ensures that Core Partners are motivated and rewarded for their engagement and support of the company, without founders needing to giving up cash or equity, and can hold the Core Partners accountable for their contributions.||For Core Partners, Underscore helps match Core Members with the right companies for them to engage with, where they can uniquely make a real difference in supporting the success of entrepreneurs building legendary companies. As such, Underscore aligns Core Partners to participate in the success by sharing Underscore’s carry in the investment, fixing many of the challenges with traditional advisory stock options (common stock, vesting, taxes, etc.).|
A team of entrepreneurial investors
For many investments we make, we receive significant interest from the Core Community to invest their capital alongside Underscore’s investment. By design, the Underscore VC fund is comprised exclusively of top-tier institutional investors representing over $40bn of long term capital. However, when entrepreneurs find it valuable, we provide members of the Core Community the opportunity to personally participate in our fund investments and support the companies as value-add investors.
An Underscore Core Syndicate is a group of individual investors invited to participate in the investment through a special syndicate fund alongside Underscore. These individuals are jointly selected by the entrepreneurs who are receiving investment based on their specific needs.
Benefits of Core Syndicates
|For entrepreneurs, Core Syndicates providing founders with the value that comes with having an aligned group of entrepreneurial investors as advisors and supporters, without the complexity of managing multiple individual investors.||For Core Members, Core Syndicates provide them with an opportunity to participate in investments that they normally would not have access to as an individual investor. Additionally, when Core Members invest, they do so on the same terms as Underscore, go on the top of the company’s captable, and receive white glove support with us managing all of the back office work and reporting.|
CASE STUDY: Core MEMBERS In Action
Mautic’s Core Partners & Core Syndicate
Mautic is the world’s largest open source marketing automation platform, led by David Hurley and Matt Johnston, two transformative entrepreneurs we are proud to back.
Through our investing process, we activated some of our Core Members to surround David and Matt with the best entrepreneurs and operators who could help them in building Mautic into an enduring, successful business, through an aligned group of Core Partners and Core Syndicate participants.
Mautic’s Core Partners and Core Syndicate includes over a dozen proven executives and entrepreneurs, who were hand selected from the larger Core Community. The group is aligned to supporting the Mautic team to build and tackle hard problems they will face across each stage, function, and domain in their journey.
“When you have a dozen industry vets surrounding you as an entrepreneur, the potential to build a great company is infinite. Having Underscore VC support me as they have has been monumental for Mautic; they have proved to be way more than just an investor – they’re a partner”
— David Hurley, Founder of Mautic
If you’re interested in learning more about the Underscore VC Core Community or would like to join the community, we’d love to learn more about you and see if you may be able to join us as an individual in supporting transformative entrepreneurs.
Feel free to reach out to us directly through one of our current Core Members to be referred into the program, or complete the application below for us to review.