In the case of pre-Seed companies, H/L Studio takes equity in exchange for partnership: we build first and view our commitment of time, expertise, team, network, and experience as an investment in non-financial capital. As part of the H/L Studio model, our CityRock funds commit to $100,000 investments in the formal Seed Rounds of our studio companies. CityRock reserves the right to invest earlier, at the CityRock Investment Committee’s discretion, and may also elect not to invest in Seed Rounds that (1) materially deviate from NVCA standard terms and/or (2) exceed a cap or post-money valuation of $10M. This does not mean that we would not elect to invest in such rounds, but we are not obligated to do so if the rounds are outside the parameters. CityRock Ventures invests capital at Series A (and occasionally Series B) in both H/L Studio companies and companies coming to us from outside of the studio pipeline. In the case of CityRock investing in a Series A or later round which is not from our studio, CityRock Ventures will also require options/warrants in consideration of the full support of our team for every CityRock portfolio company, regardless of origin.
CityRock Ventures invests capital at Series A (and occasionally Series B) in both H/L Studio companies and companies coming to us from outside of the studio pipeline. In the case of CityRock investing in a Series A or later round which is not from our studio, CityRock Ventures will also require options/warrants in consideration of the full support of our team for every CityRock portfolio company, regardless of origin.
