
Jim joined Toyota Ventures from TRI, where he served as vice president of data and business development. In addition to serving on the board of directors for Toyota Ventures, he also serves as an executive advisor at Toyota Research Institute (TRI). Jim Adler is the founder and general partner of Toyota Ventures, responsible for setting the strategic direction and leading the firm’s investment activities. For those who are seeking growth-stage capital, we encourage you to visit our colleagues at Woven Capital, the growth-stage investment fund of Woven by Toyota. If you are the founder of an early-stage company developing solutions in areas we invest in and you’re looking for funding, you are invited to complete our online pitch form. And it is this same vision that continues to drive Toyota today.

It’s the same spirit of innovation that inspired Toyota founder Kiichiro Toyoda and his team to devote themselves to transforming Toyota from a loom maker to an automotive manufacturer in the 1930’s. We look for innovators who have the courage, humility, and tenacity to tackle important challenges we have yet to solve. We look for both financial returns and strategic value, and firmly believe that financial returns must precede strategic value. Their success is our success, and we support them at every step of their journey - while giving them the freedom and flexibility they need to experiment and grow their businesses. The entrepreneurs who partner with us receive much more than money. We are also dedicated to embracing and promoting diversity, equity, and inclusion efforts within our portfolio and the larger VC industry through efforts like the Diversity VC Standard.

Note: Investors who have been fired or resigned from their firms for misconduct are subject to removal from Midas List eligibility.Leveraging the deep technical expertise and global resources of Toyota, our team offers Toyota Ventures portfolio companies strategic support and operational guidance in business development, product, fundraising, marketing, executive coaching, and other areas. A data-driven list, the Midas List is produced from a combination of public data sources and the submissions of hundreds of investment partners across dozens of firms each year. Early stage investors who deliver large multiples on their money invested, and later-stage investors who return large sums of cash, can both make the list (top Midas investors typically achieve both). Forbes and TrueBridge put a premium on liquid exits over unrealized returns. To qualify, investors are ranked by their portfolio companies that have gone public or been acquired for at least $200 million over the past five years, or that have at least doubled their private valuation since initial investment to $400 million or more over the same period. The Midas List features 11 women investors, the same as 2022, and the list’s first Black investor in Base10 Partners cofounder Adeyemi “Ade” Ajao.
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With few new exits to speak of, and only a couple of major valuation jumps, like AI heavyweight OpenAI and cloud security provider Wiz, it’s perhaps no surprise that the 2023 Midas List features only 7 newcomers, plus five returnees who’d previously dropped off - half of last year’s sum.

Others like Snowflake (2020), Kuaishou (2021) and Coupang (2021) had outsized impact. The 2020 IPO of home-sharing site Airbnb boosted no fewer than 13 investors onto the list more than two years later (Stripe also counted 13, but did less to boost their chances.) Cryptocurrency exchange Coinbase, a 2021 offering, benefitted another 11 investors – including No. As the world’s most valuable startup at $220 billion, controversial social app TikTok’s parent company ByteDance, where Shen is a board director, still did more to propel investors onto the Midas List than any other company, helping five more investors onto the ranks.īut with the valuations of other startup unicorns like Stripe plummeting in recent months – with the notable exception of Elon Musk’s SpaceX – it’s mostly past IPOs, with their liquid returns, that led to this year’s Midas success. The investor in Chinese unicorns Meituan, Pinduoduo and ByteDance takes the top slot for the fourth time after two years knocked off the perch – his twelfth Midas appearance overall. This year’s top investor is a familiar face: Neil Shen, Sequoia China’s founding and managing partner. Produced in partnership with TrueBridge Capital Partners, the Midas List has long tracked venture capital’s ebbs and flows as the definitive ranking of the top 100 tech investors. The investors who dominate the 22nd annual Midas List represent a return to VC’s roots: early-stage, high-conviction dealmakers who have returned real cash. Fter years of ballooning startup valuations and high-paced dealmaking in venture capital, the traditionalists are striking back in 2023.
