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GSV Capital is the first publicly traded security giving growth equity investors access to the world's most dynamic, VC-backed private companies.

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NASDAQ: GSVC
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Why We Like

$10.0 million FMV|4.7% of GSVC

Founded

2017

Capital Raised

$765 million

Investors

GSV Capital along with Andreesen Horowitz, Coatue, IVP, GV, Fifth Wall, Bain Capital Ventures

GSV Investment Theme

  • Cloud/Big Data
  • Marketplaces
  • Sustainability
  • Education

Overview

Lime is a leading on-demand electric scooter and bike company, that serves over a hundred cities, towns, company campuses, universities and communities throughout 15 countries across five continents

4Ps
Why We Like It: The Four Ps

Why We Like Lime

As market leader, Lime has accumulated a robust data set that has allowed them to run large-scale operations on strong unit economics in many different market types.

People

Lime is led by co-founders Brad Bao (Executive Chairman) and Toby Sun (CEO). Prior to Lime, Brad was the VP of Business Development and General Manager (US) at Tencent. Brad was also the Managing Partner of Kinzon Capital, a $800 million venture fund part of Fosun Investment Group. Prior to Lime, Toby was an Investment Director at Kinzon Capital.

Product

Lime is an on-demand scooter and bike sharing platform that offers convenient micro-mobility transportation services.

Potential

We estimate that Lime’s total addressable market exceeds $30 billion. Lime aims to be a global leader in micro-mobility and has expanded across international markets in rapid succession in its first two years.

Megatrends

Micro-mobility; Sustainability

How Big Can This Be?

Stakeholders have already invested more than $5.7 billion in micro-mobility start-ups since 2015. McKinsey estimates $200 to $300 billion in U.S. market potential alone for micro-mobility solutions.

Predictability

While there is a high degree of seasonality in the business, Lime has a relatively predictable recurring revenue stream, with over 70% of revenue coming from existing customers each month.

Risks

GSVC percentage figures are based upon the fair value of each holding as of the quarter ended March 31, 2019, or the cost basis of the holding (exclusive of transaction costs) if the investment closed subsequent to March 31, 2019. In either case, these values are divided by the fair value of total portfolio investments of GSV Capital as of March 31, 2019.

GSV stands forGlobal Silicon Valley