Johnson’s Student-Run VC Fund Makes Investment in D.C.-Based Start Up
3/4/2013 3:12:00 PM
Venga is a restaurant guest-management system for targeted marketing
BR Venture Fund, Johnson's student-run venture capital fund, has recently invested alongside other institutional and angel investors in the Series A round of Venga, a Washington, D.C.-based restaurant guest-management system that combines transaction data with customer profiles for targeted feedback, marketing, and analytics. This investment is the first investment in a year and represents the hard work of BRV's associates and fund managers.
Operated entirely by a team of MBAs, BRV invests up to $100,000 in U.S.-based high growth companies across all industries. Initially funded by donations to the university, BRV is an evergreen fund, recycling all proceeds for reinvestment.
Along with investing startup capital in promising new companies like Venga, BRV also serves as a gateway to for its investment partners to startups based on Cornell technologies and innovations. Through its established relationships with other investors, BRV has the ability to create new syndicate opportunities, as well as to participate in investment opportunities presented to the fund.
An investment from BRV not only brings with it the backing of one of the top business schools in the world, but also the ability to leverage Cornell’s many resources.
“BRV is excited about Venga's market potential, given the existing gap between customer and transaction data,” says Vinay Badami, MBA ’13, COO and fund manager of BRV. “Through its software analytics platform,” Badami explains, “Venga provides restaurants with the real-time customer intelligence needed to take actionable steps towards more effective marketing and operations, delivering an immediate ROI for their customers.”
Customers of Venga include well-known restaurant chains such as Jose Andres' Think Food Group and others.