UPCOMING DISTRIBUTION: We are pleased to let you know you will be receiving a distribution check from FirstStep Fund (FSF) related to the investments in IOTAS and Helpshift. Below is an overview of the investments, the amounts FSF has received from the acquisition of these two companies, and the total distributions made to investors:
FSF invested $150,000 in IOTAS on 9/12/19. In December 2022, IOTAS was acquired by ADT Inc. for a combination of cash and ADT stock. The fund received $38,171.74 and 19,277 shares of ADT Inc. stock on 12/20/22.
FSF invested $499,998 in Helpshift on 7/31/19. In April 2023, Helpshift was acquired by Keywords US Holdings for $443,167.85 in cash upfront plus an indemnity holdback.
FSF made a distribution in 2023 of $481,339.59 (IOTAS $38,171.74 plus Helpshift $443,167.85).
In late 2024, FSF received 90% of the Helpshift indemnity holdback in the amount of $45,489.78. In April, FSF sold the 19,277 shares of ADT Inc stock for $154,908.42. The fund is now making a distribution of $200,398.20.
You will be receiving a check for your pro rata share of the $200,398.20 distribution which is approximately 5.2% of your investment in the fund. For any questions, please reach out to our team at ops@portfolia.com. Thank you!
Upcoming Call: Maven Investor Update
June 17th | 1:00 pm PST
Join us as we hear a confidential update from Maven's CFO, Katie Rooney. You'll have the opportunity to share your questions and lend your business/consumer expertise. If you are unavailable to attend, you will have access to the recordings on your member dashboard.
Annual Fund Performance Report
Portfolia’s 2024 Performance Reports are now available for all funds. COO Tammi Jantzen presented an overview on Understanding Performance Reports and K-1s. Missed the call? Watch the recording here.
Live and interactive meetings will be held for Fund Members with Fund management teams. Stay tuned for detailed schedules.
As we focus on performance, the Rising America Funds continue to be among our highest performers with Fund I in the top 5% of all venture capital funds of its vintage year. With a strong focus in healthcare and fintech, secure your spot now in Rising America Fund III.
First Step Fund is currently at 1.03x net TPVI, meaning every $1 invested by the fund is worth $1.03. However, with 10 active companies, including pre-IPO companies Maven and Madison Reed, we expect to see significant future distributions from the fund.
EIN: 38-4099788
2024 FirstStep Fund Performance Updates
The 2024 financial statements are as of and for December 31, 2024. Please note all updates provided are confidential and not for distribution.
To access the file, use password: 2024FSFReport!
Quarterly Reports
The highlights of Q1 2025 updates as provided by the company. Please note all updates provided are confidential and not for distribution.
To access the file, use password: Q125FSF!
First Step Portfolio Highlights
Companies & Leadership Team
The Portfolia FirstStep Fund is led by a world-class team of highly sophisticated and experienced investors who are leaders in their respective fields, as venture capitalists, angel investors, and innovators. Click on photos for full bios.
The Companies
Portfolia Fund Partners
Interested in other funds?
Connect with Investor Relations at investorrelations@portfolia.com
Additional questions?
Reach out to our team at members@portfolia.com
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