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Market Focus
Investment Criteria
1 E Erie St Ste 525 #103
Chicago, IL 60611
Chicago
London
The Conduit, 6 Langley St,
London WC2H 9JA
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Who is Mazarine?Investors with extensive expertise in water Mazarine is a venture investor backing early-stage technology companies with innovations that address water-related risks, spanning multiple markets. As impact investors Mazarine leverages the ESG framework to guide investment strategy and ensure portfolio companies bring solutions to market that help their customers realize their ESG goals. A unique way to look at investing Three unique features: 1) Mazarine is a hypothesis-oriented investor, meaning if/then statements are formulated around the most compelling ‘water-related' (including wastewater) market or technology opportunities, then research is conducted with an identified founder to determine if there is a real opportunity. 2) Mazarine sees the 'water' opportunity differently, resulting in a unique investment thesis and strategy. 3) Mazarine leverages the unique experience/expertise of our 4 Partners to support Founders realize their vision. Organized to find winning early-stage opportunities Mazarine operates an in-house incubator called Mazarine Labs which helps us discover investment opportunities well before they are ready for their first check. Our Fund I played that role several times, but now Fund II plays that role. Fund III is one of the only venture funds entirely focused on Climate Adaptation Tech (or C.A.T.)
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How does Mazarine find and select portfolio companies?We cast a wide net Mazarine sees on average ~300 early-stage investment opportunities a year with most coming from N. America and Europe, followed by Israel and ANZ. The opportunities arrive in the form of 1) pre-seed university research and entrepreneurial ideas, 2) newly-formed 'start-ups' ready for take-off, 3) nascent companies already in-market, 4) young companies already enjoying some commercial success, and 5) fast-growing companies that are already deemed 'competitive' by strategics, who may be already eying them for acquisition. We are technologists The deals Mazarine sees come with Intellectual Property (IP) rooted in a wide range of technology verticals: chemistry, data science, materials science, microbiology, process engineering, or some kind of business model innovation not rooted in the 'hard' sciences. We play in many markets Due to Mazarine's 'water is a risk' investment thesis, Mazarine's inbox includes technology companies with innovations addressing some aspect of water risk in: agriculture, aquaculture, smart home/smart building, manufacturing, power generation, and even water risk faced by banks. We like founders who have a firm grasp of the the water/wastewater-related risks their customer deals with. We like 'time traveler' founders The ability to see where entire industries, or submarkets, are going means observing the subtle inflections happening in the market today, then articulating a compelling insight around where market demand will be in 2 - 3 years, and how success will be realized. Geography is not a limit Mazarine will consider opportunities anywhere; however, markets that are understood by the Mazarine team tend to be prioritized.
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What are Mazarine’s core tenants?The concept of “risk” and “risk management” are core to Mazarine’s view of investing in “water” The inefficiencies in the management and use of water (and wastewater) create risks for industry and society. At the household level (in rich and poor countries) water quality is a health risk, leaks are asset management risks, and in water-scarce parts of the world the water bill can put the household or company in financial risk. In agriculture, water quantity (flooding or drought) is a risk that can ruin livelihoods. For the business community, interruptions in water quantity and/or quality are disruptive operational risks, and exceeding water withdrawals or discharge permits can lead to financial and brand risks. For utilities, managing source water, the distribution network, and the ratepayer all present existential risks for the hardworking people dedicating their careers to delivery of compliant water, handling of wastewater, and mitigating the effects of stormwater. The finance and insurance sector also faces 'water-related' risks in their financing of projects and the underwriting of assets that could be damaged by water in some way. Mazarine 'frames' water risks as: 1) public health & safety risks, 2) environmental protection risks, 3) cost of water risks, and 4) business continuity risks. Once you frame 'water' this way, impact and financial return opportunities start to come into focus. The way terms like "water tech" and "water investing" currently are used is confusing and detrimental to generating good investment returns Mazarine's portfolio companies operate in sectors where water is a 'protagonist', meaning water plays a key role in day-to-day operations, but is a means to some other end. Sectors where water is a protagonist include: agriculture, aquaculture, buildings, conservation, finance & insurance, health & healthcare, hospitality, manufacturing, mineral processing, and power generation. Some of Mazarine's portfolio companies deliver solutions to water and wastewater utilities who are generally seen as 'the water industry'. Our investments in "water" are inherently impact investments Realizing social and environmental impact objectives is in Mazarine's mission statement. Additionally, part of Mazarine's impact mandate is to catalyze sharing and learning opportunities via webinars and events, as well as help the Mazarine syndicate realize our ‘water’ thesis goals. Support our founders The composition of the Mazarine team translates into more impact at the very earliest stages of a company where business strategy, marketing, finance, and introductions are often just as important as financial capital. Mazarine enjoys the challenges and opportunities supporting founders on the proverbial forest floor.
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