Hometeam Ventures

Hometeam Ventures

Firm Headquarters: San Francisco, CA

Date Founded: August 2020

Number of Investments: Under 10

hometeam.vc

This Page was Updated October 2020

Investment Approach

Hometeam invests in founders bringing breakthrough technology to one of the world’s largest—but least innovative—industries: construction + housing. Hometeam is hyper-focused and only investing in startups that reduce cost, increase quality, and/or decrease the time of the construction of homes. These startups will work on solutions for the growing 1B+ person global problem: inadequate housing, and an $18T industry (by 2022): construction. 

The Hometeam investment thesis is a natural evolution of our experience, and therefore our knowledge and network support the fund. The team are operators who have built thousands of houses, negotiated land deals with national governments, and coordinated dozens of stakeholders to complete complex infrastructure projects. Hometeam deeply understands the pain points of construction, which informs how we choose investments, and our relationships are directly applicable to future portfolio companies.

Focused Geographic Regions of Investment: 

  • Is all of your activity in the US?
    Hometeam has no active investments currently but expects that the majority of companies will be based in the US.

  • What countries outside of the US are you active in?
    None, but Hometeam expects that the companies invested in may operate globally.

Focused Industries of Investment:

  • Construction and Engineering

  • Data, Software and Technology

Previous or Active Portfolio Companies:

  • ICON

  • AirWorks

  • TangoBuilder

Investment Example:

An example of Hometeam’s investments is the investment through New Story and partnership with ICON to build the first 3D printed community in history. 

We, as New Story which is catalyzing Hometeam, invested at the earliest stage for ICON to prototype their first 3D printed home at SXSW using the most rigorous building permitting codes in the US. 

Within two years, New Story/Hometeam has helped ICON take the technology from proof of concept to implementation in Mexico, and now ICON is able to scale in the US, currently building a community in Austin, Texas. This short time-frame for permitting approvals by US jurisdiction is unheard of for disruptive innovations in construction and manufacturing. ICON went on to raise a $35M Series A at a $105M valuation, and they have partnerships with HUD, Fannie Mae, BIG architect, NASA, etc. 

Now, directly because of the partnership there are 50 families preparing to move into the first 3D printed community in the world. These families in Tabasco come from 22 different indigenous communities living on a median household income of $76.50 a month. Many of these families commute on bike or foot for nearly an hour each way to bring their kids to school, work, and to fulfill basic needs through markets and hospitals. Since the community consists of indigenous families who have been neglected by the government for decades, many of them do not have land titles, creating an ever-present sense of instability. Their makeshift homes with inadequate roofs, walls, and floors make way for storms to drown their space for the 6-month season of rain they experience. 

We believe this example shows the opportunity for tremendously high impact and incredibly high returns for investors. 

For spiritual integration, we have prayed with and for the founders of ICON, their team, and for the families in Nacajuca. It has been a great example of two faith-driven entrepreneurial startups working together to bring breakthrough technology to families in need. Check out our faith-driven podcast .

Capital Raise Strategy

  • Total Assets Under Management:
    Currently, $4.5M raised, but fund 1 will include a total raise between $10M and $15M 

  • Total Number of Investors: 25-30 for Fund 1

  • Members’ total years of investing experience: 470

  • Average Investment: Family Office: $500K-$1M, Individual: $250K-$1M, Institutional: $500K-$1M  

  • Minimum Amount: $250K

  • % of Capital from Top 3 Investors: Less than 25%

  • Financial Reporting Frequency to Investors: Quarterly

  • Setup to accept charitable capital through the National Christian Foundation or other listing platforms?

    Yes, we work with Commonwealth and NCF to accept Donor Advised Funds. 

Leadership Team

  • Cumulative Leadership Experience in Accredited Investing: Under 10 years

brett hagler | co-founder & partner

Brett’s main identity is held in his faith and purpose is to serve God. For Hometeam, Brett will coordinate the key strategic relationships between the fund and New Story, raise brand awareness, recruit world-class founders, and work with Alexandria to invest in extraordinary founders. Brett is a cancer survivor, Forbes 30 Under 30 Entrepreneur, Y-Combinator alum and was named one of the Top 100 Most Intriguing Entrepreneurs by Goldman Sachs. Brett served on DocuSign’s Advisory Board leading to their IPO and has made personal investments in hard to access startups led by elite venture investors.

Alexandria Lafci | co-founder & Partner

Alexandria is a Co-Founder of New Story was COO of New Story, leading the New Story Field Operations and R&D team. As Co-Founder of this fund, Alexandria will leverage a decade of experience in affordable housing, construction management, selling to governments, and adapting technology to new markets. Alexandria grew up in Section 8 housing, is a Y-Combinator alum, Muhammad Ali Humanitarian Award winner, and Forbes 30 Under 30 Entrepreneur.

Julieta Moradei | Operations & Deal Flow

Julieta will drive deal flow and operations of the fund. Previously, Head of R+D at New Story, and an engineer at Arup. She has an M.S. in engineering from UC Berkeley and postponed her HBS MBA to create this fund. Her academic and industry research in AEC focused on the circular economy, automated drone inspection, resiliency, and sustainability.

Spiritual Integration and Impact:

Faith Driven Investing can span a wide range from high yield to concessionary returns that have a higher level of spiritual integration. Having clear expectations of this philosophy is key for the movement. Each investment is unique and you might want to select multiples but if you had to choose one quadrant that best fits your groups spiritual integration and financial performance targets … What would it be?

Hometeam’s portfolio companies will be creating innovations that will serve the poor and I believe my commitments/practices for spiritual integration (listed below), will bear fruit spiritually. With our work, we will redeem the traditional, status quo way of how God’s love is spread to families across the globe in need of a home. 

From a return perspective, Hometeam plans to return capital to our invested LPs at a solid rate of return comparable to a top tier venture fund. We are working in one of the world’s largest but least innovative/digitized markets, and therefore, believe there’s extraordinary opportunity for returns. 

Some of our spiritual integration practices: 

  1. Prayer for the hearts of portfolio team members and management teams. 

    • I will pray for the Holy Spirit to move in these companies. I may not even be involved in those conversations, but they will have someone praying for them.

    • In times of need, I will pray for any personal challenges I’m aware of and will let them know that.

  2. Intentional about opportunities to go on “site visits” and trips to the field with portfolio company leaders and LPs to share how their technology impacts the poor. From my past experiences, God moves in these environments and more whimsical opportunities are presented.

  3. Prayer for technology to impact families in need of adequate housing. And when this happens, the families would feel the Holy Spirit involved. 

  4. I will transparently share that I’m a faith-driven entrepreneur/investor with the management teams that I get to know. I will share that Hometeam and New Story is all driven by my faith and Kingdom values.

  5. Prayer for the hearts of Hometeam’s team and LPs that are nonbelievers. Like I’ve done at New Story for the last five years, I will tell them I’m praying for them and ask them what I can pray for. 

    • I will pray for any personal challenges I’m aware of and will let them know that. 6. Prayer for portfolio founders (who are already believers) to bear more fruit, surrender plans to Jesus, be public about being a faith-driven entrepreneur and focus foremost on loving God and loving others.

Describe the Spiritual Integration Activities of the Fund:

  • By investing in the world’s top talent in AEC and the most innovative startups, we can best serve families in need of a home. “Love each other as I have loved you.” – John 15:12 

    We are called to love each other, not just in our personal lives and how we do charity, but also in how we bring better quality technology, creativity, and innovation to those that need it most. A significant portion of the GP carry at Home Team Ventures will funnel back to fund New Story Charity’s mission of pioneering solutions to end global homelessness. 

Is Impact and Spiritual Integration Tracked?

  • The impact will absolutely be tracked and the spiritual integration will be written about and tracked by Brett. We are still actively fundraising in our first fund, so we don’t have an annual report yet.

Are you partnered with any other organizations?

  • Yes, the Hometeam is partnered formally with Commonwealth as well as having the majority of its’ LPs being faith-driven investors. Many of whom are working with Commonwealth and NCF to steward their capital to our fund. 

A lot of Investing Conversations look at Social Impact related to the United Nations Sustainable Development Goals. Is there one of these that most resonates with your organization?

  • We resonate strongly with Goal 1 of the United Nations Development Programme, “No Poverty.” Just like the UNDP, we know that “eradicating poverty in all its forms remains one of the greatest challenges facing humanity.” So, to take on such a challenge, we know that no one company can accomplish it alone. This global catastrophe needs the entire world’s attention, and yet, the housing industry attracts some of the least innovation. The building industry invests less than .5% of its value into R+D. Global construction, despite being one of the largest markets in the world (valued at $12.6T in 2018, expected to grow to $18.8T by 2022) is one of the least digitized sectors, second only to farming. 

WHY The FAITH DRIVEN INVESTOR?

  • Why are you compelled to be certified and a part of the Faith Driven Investor Group?

    Hometeam sets out to be faithful stewards of God’s resources. We believe that becoming a member of the Faith Driven Investor group will set us up for success and hold us accountable to not only return value to our investors but to be thoughtful stewards of the capital we raise. That we may bring glory to His name and have a network of peers to seek advice and counsel from as we bring more capital to the brightest, most talented founders who also have a will to make a positive impact on the world’s poor. 

  • Does the leadership align with the Unifying Principles on Faith Driven Investor and agree to the Code of Conduct?

    Hometeam aligns heavily with all of the unifying principles, and Brett (Co-Founder who will be represented to the FDI family) is 100% aligned to the code of conduct. 

    Hometeam or New Story does not require anyone on the team to declare their faith in Jesus. The team believes that we have a responsibility to be thoughtful stewards of the capital we raise and make an impact beyond finances. The reason that Hometeam was founded was so that we could have more influence with startups to provide more of God’s children with a safe and secure home. Hometeam prides itself on its abundance mindset, knowing that the ownership belongs to God, to begin with, and to His purposes, it shall go. Hometeam will never put financial return above the impact that it seeks to make for those most in need.

  • Who nominated you to be listed on the FDI site?
    Henry Kaestner introduced Hometeam to Kenny Ewell who encouraged the team to be listed. 

AFFILIATIONS- Are you a part of any third party groups, affiliations that you would like to list here?

  • Commonwealth, Christian Economic Forum member, the Praxis Network (2017 accelerator alumni). 

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