Vijen Patel
The 81 Collection | Founder of Tide Cleaners (originally Pressbox, acq. by P&G)
Chicago, Illinois
Invests in
Sectors:
Locations:
Min Investment:
$100,000.00Max Investment:
$2,000,000.00Target Investment:
$250,000.00
Skills
Education
- Uo
- Uo
Lists including Vijen
Work Experience
2022
Founding Partner
2022
The 81 Collection is a Founders Fund for un-sexy industries (Founders and leaders of Tide Cleaners, Grubhub, ShipBob, Industrious, Farmer's Fridge, Cubii, others). We built companies in hard industries, and it was lonely when we started. Most seed venture capitalists said our industries were too low margin, capital intensive, and difficult to scale. We were outsiders. Now, we can look back at the $20 billion of value created and the 10,000 employees whose financial trajectory we altered. The same qualities that made our businesses unattractive at seed stage are now our greatest strengths. Our entrenched hardware is a barrier to entry, our revenue is inextricably tied to our customer’s daily needs, and our loyal employees who once made $20 per hour now make $100K per year. We chose the harder path, built the right kind of businesses, and improved America. As we look around, 19% of GDP still attracts a majority of venture capital activity. We believe 81% of the U.S. GDP is starved of innovation. Tackle a real, often very difficult, problem and we'll have your back. We exist to lighten your load.
2021
Co-Owner
2021
2013 - 2021
Advisor
2020 - 2021
Transitioned to an advisory role starting in July 2020.
CEO
2018 - 2020
Retained post-acquisition of Pressbox and named CEO of Tide Cleaners. We saved Americans 350 hours per year from doing their laundry. Grew to 2,000 locations across 15 cities by the end of 2020.
Co-Founder | CEO of Pressbox
2013 - 2018
Launched Pressbox in June 2013 and sold to Procter & Gamble in July 2018. Pressbox re-created the traditional storefront dry cleaning experience with 24/7 smart hardware and software. We bootstrapped the company and funded the growth of 130 employees, 1,200 locations, and 10 cities off our balance sheet.
2011 - 2013
Associate
2011 - 2013
One of 25-person team to analyze and execute growth equity investments as part of a $3B fund, helping the firm achieve #1 ranking by Dow Jones's Private Performance Ranking. Focused on consumer, retail, and healthcare opportunities.
2008 - 2011
Senior Business Analyst
2010 - 2011
Business Analyst
2008 - 2010
Corporate Finance Group in NYO
2007 - 2007
Summer Analyst
2007 - 2007
Investment Banking Division