SA国际传媒

This is a monthly feature that runs down the most active investors in U.S.-based companies, looks at some of their most interesting investments, and includes some odds and ends of who spent what. Check out last month鈥檚 feature here.

and led the way last month in investing in U.S.-based startups鈥攂oth in total rounds participated in, as well as rounds led or co-led.

Just like April, May saw only a half dozen firms invest in 10 or more deals announced in the month鈥攄own from May 2021 when 10 firms took part in double-digit numbers of rounds, according to SA国际传媒 data.

However, as has been well documented, the current environment is much different from 2021 when it comes to both the private and public markets.

Let鈥檚 take a closer look at the most active investors in U.S.-based startups in May and some interesting rounds they took part in.

Andreessen Horowitz, 20 deals

For the first month this year, Andreessen Horowitz led the way in total rounds with 20鈥攈alf in previous investments and half in new companies.

While a specific round usually catches our interest, sometimes it’s more of a theme that runs through the month for a certain investor that grabs our attention. In Andreessen Horowitz鈥檚 case, it was a sharp interest in all things Web3 and gaming.

It鈥檚 no secret the Menlo Park giant loves blockchain and crypto, but the firm did seem to double down on that interest last month. Its investments included:

• Leading a $15 million Series A for Sacramento, California-based , a blockchain-based developer of collectable combat role-playing games.
• A $24 million Series A it led for San Francisco-based , which focuses on building Web3 games and virtual worlds.
• Leading a $6.5 million seed round into San Francisco-based , a gameplay community platform that allows players to find tabletop role-playing games and game masters.
• The $40 million Series A it led for Wyoming-based , which is developing artificially intelligent games with blockchain technology.
• Taking part in a $12 million seed round for San Francisco-based Web3 videogame platform .

That鈥檚 a lot of bets on Web3 and gaming on the next iteration of the internet. But a16z is not known to tread lightly in areas in which it believes.

Tiger Global, 16 deals

The hedge fund giant may be known for leading huge nine-figure rounds and minting unicorns, but this month we are going to look at a much smaller round that went to a company tackling a big issue.

Tiger led a $20 million Series A for New York-based telehealth startup . The company works with families and schools to diagnose, treat and empower students with learning and thinking differences. According to the company, approximately one in five people struggle with learning or thinking differences. Care and diagnosis can be expensive and confusing.

Parallel looks to streamline and simplify that process. It expects to use the new cash to expand nationally and add behavioral and speech therapies.

Accel, 11 deals

It鈥檚 not often we highlight a round of undisclosed value, but this is an exception. Last month took part in a seed round for San Francisco-based , an insurtech company.

While the insurtech industry has seen a lot of investment in recent years, Sotera鈥攚hich is still under the radar鈥攊s a little different. The company is not looking to insure your car or home. Rather it uses what it calls 鈥渄eep tech鈥� and data to create risk ratings for 鈥渦nusual objects.鈥� Think high-end art and antiques.

The company completed the accelerator program at and plans to use its platform to also record at-risk collections to help stop looting and the illegal trafficking of antiquities and art.

Gaingels, 11 deals

New York-based 鈥攚hich invests in companies with diverse and inclusive leadership teams鈥攈as been near the top of this list every month this year. However, its number of U.S.-based investments have declined every month to land it a little lower in the rankings.

However, that does not mean it doesn鈥檛 have rounds of note. In April, the firm was part of a $7 million fundraise for San Francisco-based 鈥渃rispy鈥� plant-based chicken nuggets maker . Last month, the firm continued its inquisitive food ways as part of an oversubscribed $2 million investment in Chicago-based company .

The sustainable food company develops low-carb, protein-rich 鈥渇ungi flour.鈥� The company uses fermentation to upcycle wasted sugar water from food and beverage manufacturing. This creates its mycelium flour. The process reduces water waste and contributes a sustainable form of protein.

Y Combinator, 11 deals

It鈥檚 no secret the venture capital market is experiencing a little dip right now as funding falls with valuations.

One option some startups may look into is venture debt鈥攅specially those that have raised some venture capital鈥攁nd Y Combinator may have just the company to help.

Norwalk, Connecticut-based , a digital venture debt provider for investors and startups, closed a $3 million seed round which included funding from the startup accelerator giant.

The company has created an online venture debt marketplace, with startups filling out applications for debt right on its platform. The startup can expedite the entire applying process to just a day or two.

In a down market, startups may look for just such a thing.

Insight Partners, 10 deals

Logistics and supply chain tech has been popular with investors, and has not let the party pass it by. The firm co-led a $150 million Series E with for San Francisco-based logistics startup . The round values the automated operations platform developer at $2.85 million.

Motive, formerly KeepTruckin, offers an AI-powered platform that helps improve driver safety and track fleet spending. The platform also offers other logistics and management tools.

Venture-backed freight and logistics companies continue to see heavy investor interest after a record-setting 2021, . Last year, investors poured more than $21.5 billion into freight and logistic startups鈥攎ore than doubling the $9.8 billion 2020 realized.

Also notable

• Next in line to make the list were , with eight deals announced, followed by three firms with seven announced rounds each: , and .
• As noted earlier, Andreessen Horowitz and Tiger finished first in rounds led or co-led in May with nine each. Insight followed with eight led or co-led for the month.
• However, it was Insight which led or co-led rounds worth the most last month鈥攁pproximately $800 million. Well ahead of Tiger and Andreessen Horowitz, which led or co-led rounds worth approximately $400 million and $200 million, respectively.

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