This week's Update
This weeks’ update
5 ❤️ Echelon Extended Financials
- Click –> HERE to join weekly Friday “Happy Minute” at 5pm Pacific/8pm Eastern! Adrian is leading the charge, its been a productive week so join us for a toast to the weekend!
- Congratulations to UnifiHealth for signing a lead term sheet with <Partner> for a <$M> seed round of funding.
- Aionics was mentioned in Bloomberg Green fighting climate change using AI!
- Quimby Melton, Co-Founder and CEO of Confection was featured in Threat Technology. “Confection Wants to Prepare You for the Future of Server-Side Martech”
- B-Corp Certification process is moving along. We increased our impact score by gaining 13 points in Governance. Shifting to Workers where we have 21.93 more impact points available to gain.
- Family friend of the McColl’s, Lorenzo Zazzeri, wins a silver medal in Tokyo for the Italians in swimming in the 400 freestyle relay.
4 ♥️ Needs and Leads
- New promising lead provided for Echelon DS. Initial meeting scheduled for next week. Thank you, Rob.
- Connected HighTide with a Cities Industry Expert.
- Anyone know what an outsourced legal due diligence on a European firm (Germany) might cost in in the context of a minority investment? Just the DD, not the deal itself.
- Further in same context…does anyone have a German firm they could recommend?
Echelon Platform Cash Forecast
- Cost of 401k plan administration added to EchOp
- Making <> partner fund investments totalling <$> over the next two months out of the GP/LP commitments account
- Astra projected burn rate funding transfered from EchOp to Astra
- Short term loan passed from EchOp to Aionics to cover payroll (added to tab)
- Aionics tax prep bill paid by EchOp (added to tab)
- Part of EchelonDS resources pushed to Sep 1
- Legal council consulting added to EchOp cost
+6 Month Cash Forecast By Business
Echelon Bank Balance Sheet
Echelon Bank Income Statement
B Corp Certification Progress
4 ♥️ Echelon Extended Financials
- Click here–> to join weekly Friday “Happy Minute” at 5pm Pacific/8pm Eastern
- Congratulations to our friends and partners at Form Energy for raising Series D
- Another big congratulations to Form on the exclusive in the WSJ “Startup Claims Breakthrough in Long-Duration Batteries” We are honored to be on the journey toward sustainable grid-scale energy storage with you.
- Be sure and join Echelon’s next Data-Driven Start-up webinar“The Cost of Customer Acquisition-what to know and why its important to startups” led by Quimby Melton, CEO Confection and Tim Lamb.
- Multiple meetings with architects at 221 10th during my visit to Evanston.
- Huge congratulations to Austin for closing on their first home this week! 🍾
- Highlight of the week: getting lectured on cost of capital from a negative book value business with excess capital.
3 ❤️ Echelon Community Update
- Click here–> Link to join weekly Friday “Happy Minute”at 5pm Pacific/8pm Eastern
- Thanks to Rob, Dave, Tim, Jason, David, Austin, Joel, Adrian, Taylor, and Cody for joining the initial launch of Echelon Happy Minute. Looking forward to seeing everyone this Friday at 5pm Pacific/8pm Eastern (on the dot-60 seconds goes fast!!) ?
- Congratulations to Austin, Venkat and the entire Aionics team for closing a big contract with a customer they have already worked on three contracts with. This is also a great validator for them because its the first customer to purchase their four-week informatics material/ML course based on the content that Venkat and Austin have used in teaching at CMU/Stanford/Columbia.
- Friday marked the “most important meeting of the year” for Aionics who hosted their first CEO circle discussion. They accomplished their goal to come out of that meeting with a clear vision for Aionics V2.
- B-Corp Certification: Earned <impact points> this week in Governance.
- SBWY had their BoD meeting on Thursday and all went well. Improving rhythm each time allowing stronger focus on pressing projects, most notably the upcoming interim visit from the State of Wyoming.
- Working with the SCV team to determine next gen strategy.
- Data Driven Startup session: The Cost of Customer Acquisition-what to know and why it’s important to startups” is scheduled for July 30 @ 12pm EST. Session will be lead by Quimby Melton, Co-Founder and CEO, Confection
2 ♥️ Echelon Extended Financials-July 10, 2021
- Community Needs/Leads:
- Harry Statter, CEO Frontline, has been in discussions with a few major insurance companies on the adoption of the new Frontline app for their customer base. Need is for React Native mobile coders to accelerate full development of the app. Does anyone have options in this context?
- Adrian Santiago, CEO HighTide, is looking for guidance on building a referral service that incentivizes users to stay on the platform. (e.g. by including insurance).
- We are B-Corp Pending and working hard to obtain our full B-Corp Certification . Support/guidance on how to navigate would be much appreciated!
- Echelon Absolute Return Fund-We are looking to brainstorm on automated ways to handle the thesis driven model as a group.
- Need to build our book of business for Echelon Data Science and Software Engineering. Please send any leads for professional services our way.
- 2 ♥️ weekend updates:
- David McColl, Head of Investments Echelon Capital and Founder Shoreline Capital is live from the Galapagos Islands?
- Teddy is training for a bike race next weekend so he rode 70 miles yesterday up mountains in 100 degree heat!
- Jason Vandeventer, Echelon DS Director of Data Science and Software Engineering, was his friends first official passenger after he obtained his Private Pilot License. They flew from Charlotte to Greenville, SC for lunch.
- We had team members/partners spending time in Maine, Virginia, South Carolina, California, and France.
A ♥️ Echelon Financial Update-July 3, 2021
- The SEC accepted a confidential Form S-1 registration statement from <portfolio company>.
- Aionics Fortnightly had David McColl lead an incredible Q&A session on “Investing in a Zero Carbon Future” this week.
- Working through SCV TA selection and funding for the Fall. Please let us know if you have any student recommendations.
- Echelon B-Corp Certification progress tracker has been incorporated. Overall goal is achievement of >80 impact score measured in 5 categories: 1) Governance 2) Workers 3) Community 4) Environment and 5) Customers. Tracking progress weekly focusing on one area at a time, with the first one being Governance. Full Impact assessment score sheet is attached in “Echelon Decks” section. If you can help in any of these areas please let me know!
- A ♥️ Nonzero value is Purpose. Today marks a very special trio’s birthday. Today Piper (Echelon’s biggest cheerleader) and her brothers enter into double digits 1️⃣0️⃣!! This right here is what Purpose is all about to me!
K ♦️ Echelon Extended Financials -June 26, 2021
- Successful retreat in San Diego with the team this week! In addition to celebrating our accomplishments collectively made in the 1H and planning for the 2H of 2021, we also had the privilege of meeting and spending time with some of our extended partners in the area. “Teammates” is our nonzero value I am highlighting this week.
- Echelon’s B-Corp Certification is front and center. Being a Certified B Corporation is special. This sets companies apart by showing the world that they “Meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.” Echelon has made the commitment and is currently B-Corp-Pending. Our impact score is 74.4 and we need an 80 to obtain full certification.
- California Procurement Energy Mandate passed, creating a favorable development environment for geothermal. 1000MW by 2026…attributes basically only Fervo can meet ?!!
- Our Nipyata by the name of “Freedom Donkey” is our highlighted Dive Bar of the week.
- (EchCommerce) Larkly was featured in Golf Digest!
Q ♦️ Echelon Extended Financials-June 19, 2021
- State Bank held its 3rd successful BoD meeting this week. The State Banking Commissioner was in attendance and provided helpful insights into how to improve the ratings of the Bank. In the spirit of State Bank’s progress this Q ♦️ weekend we are celebrating the routing number that started it all. Sunglasses that go from white (modeled by Cody) to hot pink in the sun (modeled by Adrian), and golf tees so far…what else can we put it on?
- Migrating Moxley Holdings website over to Echeloncap.com. V1 is done with further content updates coming in the next few weeks.
- Echelon retreat in San Diego kicks off on Monday Excited to spend focused time with the team planning out 2H of 2021!
- Drawn by inspiration from the pickleback shots consumed around lower Manhattan earlier this week, our featured dive bar of the week this week is Nancy Whiskey Pub
J♦️Echelon Extended Financials-June 12, 2021
- The team at Aionics applies state-of-the-art know-how on cathodes and materials informatics to supercharge the development of high performance cathodes for our partners. We’re excited to highlight work from Aionics Chief Scientist Venkat Viswanathan on cathode design that was just published this week in the prestigious journal Nature.
- Also announced on Twitter last night Venkat was awarded 1 of only 8 Chamath Palihapitiya’s climate change awards!
- Congratulations to Venkat, Austin, Lenson and the entire Aionics team…on ?
- Dr. Daniel Ahn is hosting former Fed Chair Dr. Ben Bernanake (who was also chair of the Princeton Econ department while Daniel was there) at a Fireside chat this week.
- Successfully wrapped up SCV with a student-led (non-university affiliated) happy hour party.
- Stanford graduation is next weekend!
- Plugging in an SCV student who is working for Social Capital and Pachama across a few Echelon initiatives.
- David McColl and his brother Daniel (proud founders of the LJSBVC) are chasing their AAA rating this summer. Here they are taking the court at the first big San Diego tournament of the year with the 10 of ♦️ in hand. We have $100 on them getting their rating by the end of summer-Go LJSBVC!!