There have been dozens of travel tech acquisitions so far this year: That includes at least 11 deals over the past three months, which followed at least 15 earlier this year.
Thayer and Derive Form Travel Tech Investment Platform
16.09.2024 - 20:29 / skift.com / Sean Oneill / Thayer Ventures
Thayer Ventures and Derive Ventures have tied up to create Thayer Investment Partners, an investment platform aimed at driving innovation in travel technology, Skift learned on Monday.
Why it matters: No other traditional U.S.-based venture capital firm has invested more capital in travel startups over the past decade than Thayer Ventures. The quasi-merger comes as the travel industry grapples with emerging opportunities in AI and the adoption of cloud-native technologies.
Between the lines: The effective merger with Derive will help sustain Thayer’s momentum for another generation.
“Tyler and Mike are young guys,” said Hemmeter, co-founder and managing partner at Thayer Ventures. “So there’s an element of building legacy into this business and clearly signaling to the marketplace in no uncertain terms that this is not an enterprise based on a personality, but is something that will endure.”
What to watch: The San Francisco-based platform is expected to launch a fresh investment fund in the coming weeks.
Skift has covered hundreds of travel startup funding rounds over the past few years, and we’ve spoken with numerous founders and investors about the state of venture capital. They all tell a similar story: There’s money to be had, but the bar is much higher now.
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