Today our portfolio company Cowboy Bike announced their 10M€ Series A led by Tiger Global. Both Index Ventures and we participated as well.
There are a few points worth mentioning:
We’ve been doing fewer and fewer consumer deals but when we do do one, it’s usually a very very good team. Cowboy Bike is a good example.
We led the Pre-Seed series last year and were the only VC in that round. Index Ventures quickly led the Seed Round later in 2017, in which we did our pro-rata.
The team launched their product earlier this year and achieved impressive sales despite only launching in Brussels. This prompted the convergence of Series A, eventually led by Tiger Global and followed by Index Ventures and us.
Tiger Global manages more than $10B of funds. They’re usually in much larger and later rounds. The fact that they came all the way to lead Series A of a startup in Belgium, that goes a long way to show the quality of the team and the deal.
My partner Alexis (@A_Houssou) led our investments in Cowboy Bike.
All in all, Cowboy Bike has developed a beautiful, extremely user-friendly e-bike that we all love. The team also executed very very fast, getting the product to the market within barely 1 year. We’re very excited about their growth and very proud to be part of the journey.