Larry Cheng's Favorite Value Proposition
Good Afternoon!
Managing Partner Larry Cheng has been sharing his reflections on growth equity and the evolving market landscape on social media. His insights offer a unique perspective shaped by years of experience in the industry.
In this edition of the Volition View, we're excited to feature one of his recent posts. For more of Larry’s perspectives, be sure to follow him on Linkedin here.
Also included:
Larry Cheng's Favorite Value Proposition
Below is an excerpt from one of Larry Cheng's recent Linkedin posts. Click here to follow Larry on Linkedin for more insights!
After 26 years in the investment business, I discovered my favorite value proposition: Offering a customer the opportunity to buy something they already buy, but at a structurally lower price.
Yes, if the options are better, faster, or cheaper – I like cheaper. Why do I like this value prop? Because there’s little fundamental market risk. If a customer is already buying a product, then you know:
Whether there’s even a market or whether the market is here now is a profoundly underestimated risk undertaken by many emerging technology companies. And, in this example, you meaningfully mitigate those risks. Then you layer on top of a large existing market, a very clear reason to buy with you: You’re selling to them the very thing they already buy, for a lower price. Who doesn’t want that?
Volition Capital Named to GrowthCap's List of Top Growth Equity Firms 2024
We are excited to share that Volition Capital has been named to GrowthCap's list of Top Growth Equity Firms of 2024. We are grateful to our portfolio companies, LPs, and the entire Volition team for making this accomplishment a reality.
Here is what Managing Partner Sean Cantwell shared in regards to this honor:
“As Volition Capital celebrates our 15-year anniversary, being named a Top Growth Equity Firm of 2024 is a meaningful milestone. We’re committed to supporting founders as more than just investors—we’re dedicated partners, helping founders scale efficiently while maintaining control and preserving equity. In today’s evolving market, strategic growth paired with financial discipline is key to long-term success, and we are honored to partner with founders who share this vision.”
Relish Announces $25M Series B
Last week, Relish announced their $25 Million Series B, which included participation from Volition Capital.
Congratulations to Relish on the success to date, and we are looking forward to our continued partnership!
Here is what Volition Capital Managing Partner Roger Hurwitz had to say about the announcement:
"We are thrilled to increase our investment in Relish. Ryan and team are innovating around large gaps of functionality in mission-critical segments of enterprise software, such as procurement, to increase automation and ensure compliance in a fragmented ecosystem. Relish is experiencing rapid adoption with both customers and partners, and the business is now well-positioned to extend its reach and optimize many more inefficient processes throughout an organization.”
RTS Raises Over $40M Financing
In late January, RTS announced that they closed financing of over $40 Million, including participation from Volition Capital.
Here is what Volition Capital Managing Partner Larry Cheng had to say about the announcement:
"We’ve seen RTS grow from a promising startup to an industry leader driving real change in waste management. This funding further accelerates RTS’s momentum, pushing the boundaries of AI and automation while expanding their impact across North America, solidifying their position as the industry’s most innovative and impactful player.”
Portfolio News: Creatio, Screenverse, SnapAttack, US Mobile
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-The Volition Team
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