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- TIA Ventures November Newsletter
TIA Ventures November Newsletter
November 2025
TIA Ventures
November 26, 2025
Recent Exit
Exiting Our Investment in Eight Sleep: A Significant Multiple on Invested Capital
After 11 years, we finalized the sale of Eight Sleep from our Fund 1. This was one of our earliest investments—back when its co-founder Matteo had little more than a dream and a prototype. The company has since become a global leader in sleep technology, building the largest dataset in the category and gaining real brand visibility (you may have seen their ads during the US Open).
From day one, Matteo was an unusually passionate founder. He spoke about sleep not as a “nice to have,” but as a core pillar of health and human performance. He had a deep conviction that if you could measurably improve people’s sleep, you could change how they felt, thought, and performed during the day. That belief showed up in how he built the company: obsessing over customer feedback, pushing the product to deliver real, tangible improvements in rest and recovery, and refusing to compromise on the vision of making high-quality sleep accessible at scale. Matteo embodies our General Partner’s ‘Andy-ism’ : passion is the fuel for action.
It is no coincidence that Matteo and his team have been so successful. Listen to our interview with Matteo below to get a sense of the passion that drives him.
Insights From Industry Experts
Are Valuation Marks Useful in Evaluating Venture Funds?
We sat down with Daniel Balmisse of Cathay Capital to unpack how LPs and GPs should interpret early performance metrics—and where Total Value to Paid-In Capital (TVPI) falls short. Daniel’s view: early TVPI is informative but incomplete. A defensible picture of value comes from operating evidence, disciplined application of fair-value principles (incl. IPEV), and transparent methodology.
Key takeaways:
🧭 Treat early TVPI as indicative, not definitive. It often reflects last-round anchoring and may mask necessary markdowns or unrecognized upside.
🧮 Build a simple “shadow NAV.” Reconcile each portfolio company’s revenue, profitability, and cash needs with its book value; note gaps and adjust.
📏 Use relevant comps—and haircut explicitly. Anchor to comparable businesses, then apply conservative discounts to reflect liquidity, stage, and risk.
🤝 Third-party vs. internal marks. External valuations support governance and consistency; an evidence-based internal model often provides clearer insight at early stage.
🧬 Sector context matters. For example, biotech and deep tech warrant different frameworks than SaaS. Avoid one-size-fits-all multiples.
👉 Bottom line: Don’t let paper marks set the narrative. Pair TVPI with a documented, evidence-driven fair-value process so your portfolio can pass the “sell it tomorrow” test —listen to the interview to learn more.
Portfolio Company News
From Field to Report: Transforming Geotechnical Data Management and Reporting with Aldoa |
 | Best Over-the-Counter (OTC) Hearing Aids Of 2025! The Audicus Omni 2 is a behind-the-ear, Bluetooth-enabled hearing aid designed for mild to moderate hearing loss. It offers rechargeable or disposable battery options, remote programming by Audicus specialists, and an app for volume, programs, and EQ control. The device automatically adjusts to different environments using adaptive sound processing, includes directional microphones for clearer speech in noise, and supports features like tinnitus masking and telecoil on select models. Read More. |
 | Podcast: Bevi Wants to Solve America’s Focus Crisis, Starting at the Water Cooler |
 | FantasyLabs Partners with ShotQuality for NBA Projections Product ShotQuality is a premier basketball analytics firm that has developed unique metrics to assess shot quality in basketball. By analyzing player positions and shot data, it offers insights into team and player performance based on shot selection and play execution, rather than just outcomes. Read More. |
Open 👩🏽💻 Roles
🚀 Hot Jobs Alert!
Here are some open roles from our portfolio companies that just closed fresh rounds of funding 💸—meaning now’s the perfect time to join them on their next chapter. Whether you’re into product, growth, or engineering, there’s something here for every builder 🔧
👇 Check out the roles and apply before they’re gone!
TIA Ventures Team
