Thayer Ventures and Rep Ventures Salvage Novel Funding Platform
SAN FRANCISCO, CALIFORNIA—Thayer Ventures and Rep Ventures announced the formation of Thayer Funding Companions (TIP). The contemporary platform will leverage the journey of both company’s founding participants to power price for switch companions and make investments in a brand contemporary period of launch-up firms linked to hospitality. Thayer Ventures’ Chris Hemmeter and Rep’s founders Tyler Carrico and Mike Scott will encourage as managing companions for the contemporary platform, which expects to originate a brand contemporary investment fund within the approaching weeks. Lee Pillsbury, founder of Thayer Lodging Group, sold to Brookfield in 2014, and managing director of Thayer Ventures Funds, will continue his characteristic as managing director. Earlier funds launched by Thayer Ventures and Rep Ventures, respectively, will continue to be managed as they’ve been since inception; contemporary funds shall be managed under the mixed TIP leadership.
Hemmeter said, “Right here is a transformative moment for Thayer’s portfolio firms, for our switch companions, and for patrons. Thayer and Rep are already the leading early-stage patrons in trip and hospitality, together we are easiest positioned to capitalize on the next wave of innovation and leverage an expanded team to bring maximum price to our switch companions. We are space to address a brand contemporary period of innovation in trip, which comprises the transformative vogue of AI, a radically rethought and reimagined booking funnel, and the favor to give scheme silos that continue to attach help development in direction of seamless buyer journeys and industry efficiencies for trip companies.”
Hemmeter added, “We’re jubilant to welcome help Tyler Carrico, who launched his investment profession at Thayer Ventures six years ago, and to welcome his co-founder at Rep, Mike Scott, who brings trip investing journey from KSL Capital Companions. By adding Rep’s capabilities to Thayer Ventures, we deepen and manufacture bigger Thayer’s attain even additional by strategy of the contemporary TIP platform. We are angry to manufacture out the contemporary platform with a essential team and unmatched record of investment success.”
Founded in 2009, Thayer Ventures invests in early-stage trip and hospitality. The company has constructed the preeminent endeavor platform for entrepreneurs to leverage unequaled counsel from our skilled team, strategic LPs, advisors, and your entire Thayer portfolio ecosystem.
Scott said, “We are jubilant to team up with Thayer Ventures to originate Thayer Funding Companions. The mixed platform will bring an unmatched stage of investing journey and strategic toughen to come innovation within the trip switch. This would well just additionally give a boost to our differentiated sector-centered methodology to producing easiest-in-class returns and offering the best stage of provider to our switch companions.”
Rep Ventures, founded in 2022, is an early-stage endeavor fund investing within the next period of hospitality, experiences, and trusty property; its mission is to bridge the gap between skills and trip by supporting entrepreneurs shaping the lengthy chase.
Pillsbury said, “I am joyful to continue to encourage Thayer Ventures and the switch to lend a hand velocity up even additional the bounds of innovation for Strategic Companions and entrepreneurial early-stage launch-u.s.alike. The contemporary Thayer Funding Companions platform represents the next evolution of our well-liked vision for reworking trip skills into in an engine of insist and efficiency for hotel home owners, producers, and patrons across the switch.”
