Best Buy Capital

Best Buy Capital

Best Buy Capital

Overview
Date Founded

2008

Headquarters

7601 Penn Avenue South,Richfield, MN 55423-3645

Type of Company

Private

Industries

Private Equity & Venture Capital
Investment Services & Portfolio Management

Company Description

Best Buy Capital focuses on minority investments in companies with emerging, disruptive technologies. The firm's Core Fund supports investment opportunities for current business units that are consistent with Best Buy's past investment activities. Their Alpha Fund is a strategic initiative which provides a market-based mechanism for Best Buy to proactively participate in and encourage consumer innovations and disruptions by making direct investments in early-stage companies.Best Buy Capital offers two investment programs: the Core Fund and the Alpha Fund. The Core Fund program seeks investment opportunities for current business units that are consistent with Best Buy's previous investment activities. the Alpha Fund is a new strategic initiative which provides a market-based mechanism for Best Buy to proactively participate in consumer innovations and disruptions by making direct investments in early-stage companies. Through the combination of the two programs, Best Buy Capital seeks to: (1) create a portfolio of option in emerging, disruptive technologies and innovations that impact consumers (2) hedge against Best Buy's current mass-market oriented business which is very dependent on traditional development patterns and cycles (3) enhance Best Buy's brand value proposition (4) to enhance Best Buy's positioning in the market to be the partner of choice for emerging consumer innovations and technologies (5) provide real-time, market based insights into emerging innovations and disruptions that could impact Best Buy's current and near-term business and (6) catalyze outside-in, market-based innovations and thinking throughout the company.

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Executives & Employees

Founding Managing Partner

Co-President

Board of Directors

President, Chief Executive Officer & Director at Bright Health, Inc.

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Recent Transactions
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Skyworks Solutions, Inc. purchases Avnera Corporation from Redpoint Ventures, Intel Capital Corp., Bessemer Venture Partners, Icon Ventures LLC, Pinnacle Ventures LLC, Hercules Capital, Panasonic Venture Group, Capybara Ventures LLC, Best Buy Capital

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Bazaarvoice, Inc., Marlin Management Co. LLC purchase Addstructure Corp. from Right Side Capital Management LLC, OCA Venture Partners LLC, TechStars Central LLC, Best Buy Capital, Dundee Venture Capital, Lakewest Venture Partners, Matchstick Ventures LLC, Techstars Ventures, Service Provider Capital LLC

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Rodeo Capital III Corp. purchases Solegear Bioplastics, Inc. from Yaletown Venture Partners, Inc., WUTIF Management Corp., Best Buy Capital resulting in a new company Good Natured Products, Inc.

Investments
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Solegear Bioplastics, Inc. designed, manufactured and distributed bio-based, non-toxic and compostable bio plastic products. The company was founded by Toby Reid in 2006 and is headquartered in Vancouver, Canada.

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Addstructure Corp. develops and operates online platform that allows retailers to deploy search and discovery products. The firm specializes in natural language processing, semantic search and search engine optimization. The company was founded by William Underwood and Jarrod Wolf in 2014 and is headquartered in Chicago, IL.

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Valencell, Inc. develops performance biometric sensor technology. The firm licenses its technology to consumer electronics manufacturers, mobile device and accessory makers, sports and fitness brands and gaming companies for integration into their products. The company was founded by Michael Aumer, Jesse Tucker and Steven LeBoeuf in 2006 and is headquartered in Raleigh, NC.

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