About Miroma Ventures
Miroma Ventures is a venture capital business that operates as the investment arm of The Miroma Group. Based out of London, The Miroma Group is a marketing and communications company that offers ideation, creation, and distribution services across a variety of industries.
Miroma Ventures primarily invests in consumer brands and media platforms that are in growth stages. Once the company invests, the startups gain access to the expertise of The Miroma Group, like public relations, content production, and brand strategy, to grow sales, establish brand image, and increase market share. Areas of interest include food and beverage, specialty retail, ecommerce, marketing consultancy, and more.
The business typically invests in startup companies that are looking to raise their first round of financing in seed, Series A, or Series B funding. The company targets startups with proven strong teams, products that set themselves apart from the competition and consumers can relate to, have long-term market potential, and a clearly demonstrated proof of concept with a “high sales growth trajectory and healthy margin profile.”
In addition to this criteria, the business invests in the startup companies that have generated between $1 million to $50 million in annual revenues. Miroma Ventures initially invests anywhere from $250,000 to $5 million in the startups with the potential to receive future financing.
The company has a wide range of startups in its portfolio, such as ClassPass, a fitness and wellness app that offers classes and experiences; Bruvi, a specialty coffee startup; Shadow, an app that reunites people with their lost pets; and Simba, an ecommerce startup that sells mattresses.
$100 Million Commitment
Miroma Ventures announced it would invest $100 million over the next few years in similar startups it already invests in. Over the next three to four years, the business will invest in startups with cash or a mixture of cash and services, depending on what the startup needs.
CEO of the company, Marc Boyan, said in a statement that the $100 million is expected to be for seed and Series A startups that need assistance with building their brands. He added that fintech startups, direct-to-consumer, and banking companies are potential investments as they need strong branding to build customer trust.
Seed stage startups could receive between $50,000 to $100,000. Investments have the potential to reach $3 million.
The business did not disclose how many startup companies it plans to invest in within the next few years but has reportedly already closed three deals from the fund; however, no details from the business deals have been provided by the company.
Venture Capital Industry
Venture capital firms are constantly looking for companies that are on a mission to innovate industries and leave a lasting impact. It was reported that in 2020, venture capital investments in the United States (US) were valued at approximately $130 billion.
A new subsector of venture capital investing, alternative venture capital, has emerged in recent years. Startup Savant reported on Chisos Capital, an alternative venture capital business that invests in idea or early-stage startup companies that have difficulty accessing traditional bank loans or venture capital investments.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.